Marketing Basics

I got to thinking about marketing today so I thought I’d review this all important subject with you today.  I was also reminded that the end of the year is about 27 weeks away.  Thinking about this made me wonder: if we are half way through the year are you at least half way towards your income goals for the year?

There are many different approaches to marketing but all involve the same basic elements. With all the shiny objects and new technologies we have available to play with today, the fundamentals of marketing – online or off – are often forgotten. When you keep these principles in mind, marketing is much simpler and you’ll be more successful in your results.

Your Target Market

Successful business all starts with your target market. Identifying and getting to know your audience is the first and most important step. Failing to define specific target customers is one of the most common reasons some agents never thrive.

Some good examples of a target market are first time buyers, move up buyers (and sellers), move down buyers (and sellers) expired listings, FSBOs, a geographic farm, a profession such as Doctor or Dentists, and so on.

Feed the Hungry Crowd

Once you know your market well, it’s easy to get an idea of what they want. The second step in successful marketing is to either create or find services that they need. If you know how to listen, your target customers will tell you this. Look for areas where there’s demand but a gap in the market – where no one is providing a solution to people’s most urgent needs.

Delivering the Goods

With a hungry crowd and the product they’re desperate for, your next challenge is to figure out a way to put it in front of them. If you’re marketing offline, you need to communicate with your target market and make your offer. This often involves face-to-face or physical contact. Online, you create a website. This is the ‘home’ of your product or service.

Promotion Methods

Up until now, I’ve covered the basics of marketing and these are fairly universal. When it comes to promotion methods, there is an endless array of options.

Offline promotion methods include advertising in print or on television, hosting or sponsoring events, promotional items, coupons, direct mail, networking in the community and open houses.

To promote your product online, people usually start with search engine optimization (SEO) techniques. You may also build awareness of your brand through social media sites, an email list, promotions, blogging, or similar methods.

The Right Mindset for Successful Marketing

With all the options for promoting your business, try not to get overwhelmed. Simple is always best. The key to successful marketing no matter what methods you use or services you promote is to keep it focused on your prospects.

Always start with what they need and want, and work your way back to your offer from there.

If you know them well, provide what they want and promote it where they can see your offer, your success is assured.