Creating Niche Groups for Precision Target Marketing
Property buyers and sellers are the lifeblood of estate agents and a significant method of improving client acquisition is to target appropriate audiences. There's still a place for agents to market on a broader level but there's also value in narrowing audiences, particularly so they can be provided with more valuable and relevant content.
Effective Niche Marketing Powers More Client Conversions
It's important to bear in mind that the personal approach is always most effective when it comes to marketing your estate agency and managing prospect communication. For that reason, a marketing strategy that reaches all different client categories and profiles is essential. By targeting each group individually with messages and information specifically for them, separate channels of communication are created that are always open for buyers and sellers to access the most relevant services for their needs.
Steps to take for Effective Niche Marketing:
Step #1: Choose your Niche Audiences
Creating niche groups is a powerful marketing device as it allows direct communication with precision target audiences. The best method for agents to identify client profiles is by researching data that's generated internally. Clients can be profiled according to their particular circumstances such as whether they're individuals or family people, their age and marital status and their particular property preferences. It's best to try and create as many required niche groups for marketing purposes as possible.
Step #2: Develop Niche Marketing Strategies
Among the client profile-groups created, it's possible to find out more about each niche's content preferences down to specific topics. For example, parents are likely to relate to content related to topics such as what local schools they have to choose from if they move to your area. You may have a niche group of retirees and so you can make content regarding retirement properties available directly to them. You could also create another niche group of prospects looking purely for investment property. It's important to prepare a marketing strategy for each niche and stick to it with consistent delivery of relevant content to nurture audiences.
Step #3: Identify the Digital Channels to Use
As part of client-profiling processes, it's worth finding out what channels they use to access the internet. For a start not everyone will be online although the majority will be which represents a niche group in itself. �It's important to know what devices are being used to search for property in your area, so that content can be successfully delivered with full functionality across the board, from tablet to smart-phone to desktop and of course snail mail for the unconverted.
Step #4: Create Personas for Niche Client Groups
A persona is a characterisation of each niche category and is compiled of information gleaned from client-profiling. Here are some methods to assist in creating accurate personality groups:
- As mentioned above, the first step is to define client profiles and segment them into community groups. For example, one group for parents of school-age kids and another for retired people.
- Identify the demographics of each niche group with information such as name, age, marital status, income level and family circumstances and compile the information into a paragraph-length description of a personality ‘type'� to represent specific groups.
- Record niche personas' average property buying/selling journey and establish details such as what level of education each group has regarding the local property market. Develop a picture of niche preferences in terms of how they prefer to communicate, whether by phone or via a website. Find out what particular property-related goals and challenges they face and how they feel about them. The objective is to target the most relevant content to each niche in order to nurture better agent-client relationships and bring about more sales.
The Bottom Line
Each and every buyer, seller or prospect is different and in real estate marketing, it's essential to acknowledge individual needs, wants and desires in order to nurture long-standing, trust-based relationships. The key to a successful estate agency marketing strategy lies in niche marketing as it provides the closest virtual equivalent to face-to-face communication.
There's additional value in marketing to niche groups as separate and identifiable communities, as it conveys a keen understanding of specific client needs. In terms of generating new leads and managing your agency's reputation, niche marketing is the most effective tool for delivering results.