Hot Tip: Stop Selling and Start Engaging

It's pretty noisy out there in the marketplace! Getting your message out in an information-overloaded market is more challenging than ever. Statistics prove that what "used to work" is less effective and generally more expensive.

Smart agents understand the value of "narrowcasting" their marketing message rather than "broadcasting" to show a higher return on investment.

Marketing experts define "narrowcasting" as a strategy to aim messages at specific segments of a target market defined by values, preferences and demographic similarities that resonate with that segment's interests.

Translated, that means instead of buying an expensive ad in a newspaper, which has limited time and exposure, today's savvy agent may opt to create marketing using information that is more relevant to their target market and how that market best receives the information. Does your intended audience spend more time online than reading newspapers? Do they want to know about real estate in general or real estate in their area?

As an example, instead of sending out a market report or newsletter with general information about the national scope of real estate, refine the message to address how that data has impacted your local market. Your odds stimulating increased engagement are high because the impact is more local in nature, as opposed to global which is of less interest or concern to your immediate area.

Here are a few tips on how to refine your marketing message for higher engagement and local relevance to your marketplace:

1. Instead of reporting national real estate statistics, target what has transacted locally. If you are farming a subdivision, the homeowners there are very interested in their local property values. Send out the number of closed transactions compared to last year, describe inventory levels, point out the number of sales that occur monthly, quarterly and annually.
2. Include information about local events that impact real estate in your area. Research what new companies are opening headquarters or branches in your area, what companies are moving out, moving in or are expanding, all of which have direct impact on the local market.
3. Do a weekly video property update using a simple webcam and post it on YouTube. Promote the update via your Facebook business page, or post it with a link on LinkedIn and Twitter. If you combine both online and offline messaging, include the link on your Just Listed or Just Sold direct mail.

To connect with your target audience, the message must be highly-personalized or have some value in order to reward you with engagement. Look for opportunities to provide highly relevant value to your marketplace, and you will become the key influencer in your area.

What do you do to narrowcast to leads in your area?

To view the original article, visit the Point2 Agent blog.