Jack of All Trades | Master of NoneApr 24, 2023
Importance of niche marketing for real estate and mortgage professionals.
You cannot be all things to all people. The real estate and mortgage industry is just way too big to generalize your services and products while still expecting to have consistent break out months, years and sustainable success. You must find a way to differentiate yourself from your competition. You must find a way to become focused on your marketing and your target client and or referral sources.
Competition for customer attention seems to get stronger each year as businesses in almost every industry strive to win the marketing game. The Real Estate and Mortgage industries are no exception. It’s no longer enough to post social media updates about your latest listing or sold home. It is no longer enough to post about a new mortgage product with low down payments. Today’s real estate and mortgage professionals must be innovative to win customers and successfully compete in this very competitive business.
From social media to email campaigns, businesses across all industries are finding new ways to connect with customers. When businesses monitor the latest trends and find innovative ways to plug into them, they can draw attention away from the many other online marketing activities each day.
Concentrating all of your marketing efforts on a small but specific and well defined segment of the population is what niche marketing consists of. Niches do not ‘exist’ but are ‘created’ by identifying needs, wants, and requirements that are being addressed poorly or not at all by other professionals, and developing and delivering goods or services to satisfy them. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond.
Providing goods and services to a market segment that has gone unserved reduces barriers to opening doors once thought to be closed, such as competition. Niches usually go un-targeted because smaller companies are unaware that the niche exists, and larger companies do not think targeting a small niche is worth their time.
In the world of real estate and mortgage professionals, the general consensus is to serve all markets. First time home buyers. Move up clients. Seniors. All traditional real estate and mortgage clients. The problem is when you generalize you are not focused and you are unable to truly manage the results of your marketing efforts and the costs associated with your marketing campaigns.
Trying to be everything to everyone doesn’t work and it’s exhausting. When you narrow your client focus you will be more profitable, faster, and you’ll position yourself as an expert in your industry.
Having a niche can transform your business.
Visit www.jodybruns.com for more niche marketing and intentionally building your business through knowledge marketing.
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.