3 Key Steps for Finding and Reaching Your Target Audience in Real Estate
Getting rid of your money is never fun, not even when buying a house. The thing is, people don’t buy a house just for the sake of it. They have a whole range of motivators, from not wanting to share a dwelling with their parents to trying to prove their success to the whole world.
Knowing what drives your target audience can mean the difference between a successful sale and wasted hours of work. In this article, we’ll look into the key steps to help you find and get hold of your target audience, based on advice from two prominent marketing masters and our own experience.
1. Sift through your past clients
First of all, you have to define your target audience. There are many ways to do this, but we’ll focus on one, which revolves around sifting through your existing customers and finding out the best of them.
The technique comes from John Jantsch, the author of the Duct Tape Marketing roadmap and a trailblazer in the area of real-world marketing. He has been consulting small and mid-sized businesses for over 12 years now and authored several small-business marketing courses.
In The World’s Most Practical Small Business Marketing Guide, he writes that 9 out of 10 companies suffer from clients not respecting their work, not paying on time, breaking their commitments, and ultimately ruining your business as fast as anything.
Here are the steps he suggests to better understand who your target audience is:
- Study the clients who have ever bought anything from you. You will find that they all have something in common. Moreover, you will see that your business can thrive while serving a much narrower market.
- See who brought you the most profit. Surprisingly, clients that seem most promising often become a headache bringing you nothing but peanuts.
- Highlight those who have recommended you to others. These are your happiest clients, and they should form the core of your target audience.
- Find out what features they have in common. This can be their age, income level, location, and so on.
- Analyze how they behave. What places or events do they visit? What hobbies do they have? What social groups can they be part of? Write this down.
- Analyze which exact problem your product or service can solve for them. Will it make them happier? Will it give them a higher status? Relieve them from some pain? Make the answer as clear as possible, as if it were your brand’s tagline.
Now you are ready to describe your target audience’s persona. It must be a lucid, vivid description. It’s okay to have several personae at first. Give them different names, such as Alex and Anny, or the Activist and the Breadwinner, and so on. Then look at your product and ask yourself, “Would Alex love this?”
Once you have described your target personae, choose one to focus on. What audience values you the most and brings you the most profit? Instead of chasing down people, try to understand the desires and needs of your perfect audience, and you won’t need to waste time on the wrong clients anymore.
2. Be ready respond to their no’s
David Newman is a marketing consultant and speaker who has worked with Fortune 500 companies such as Accenture, KPMG, Oracle, IBM, Microsoft, and PriceWaterhouseCoopers and writes for several printed and online media.
Newman suggests promoting your products and values among people who are already listening to you. But to do this, you must be able to respond to their doubts and criticism.
Here are the questions he suggests to help you find the answers:
- What problems do they have?
- What solutions have they already tried to solve them?
- Why didn’t they work? What do they dislikein your kind of products or industry in general?
- How can you market your product so that it makes them say, “At last!”
Who said that the perfect client needs not be convinced? It might well be that there are just a few doubts that keep them from buying property from you. Having the right answers to these doubts can really tip the scales in your favor.
3. Leverage what you can’t control
As we said, people don’t buy just a house. They buy the whole range of motivations, associations, and connotations that come with it. That’s why you should pay a great deal of attention not only to your property as such, but to everything that comes together with it — even if you cannot affect it.
For example, our client Avrame was planning to sell the same kind of property in two locations: in Estonia and in the Mediterranean region. They were struggling to understand how they could reach two audiences with the same proposition.
What we did was came up with two sets of deliverables. One was intended for Estonians and featured pictures of nature typical of that country, down to sunset hues. The second one was made for warmer countries and had a lot of sun, sea, and open space in it.
Despite the houses’ being almost identical, we managed to adapt their visualizations to two very different mentalities through carefully working with the surroundings and ambience.
In another project, our client was a hotel located in the vicinity of Disneyland and naturally positioned to receive families with children. They asked us to include several features they thought were necessary, namely, a children’s swimming pool, a playing area on the ground floor, bunk beds in the bedroom.
Although this was a standard set of things you expect in the gallery of a family-oriented hotel, it still missed their main value proposition, which is being close to the famous Disneyland. It didn’t help that we could not visualize the park itself due to legal reasons.
After a lot of trials and tribulations, we came up with a simple yet ingenious solution: We made a visualization of fireworks out the windows. It instantly created the required atmosphere and made it clear: This is the place you want to stay at with your kids when visiting Disneyland.
The takeaway here is that even if you cannot affect what will surround your property, you can always make good use of it if you manage to present it properly.
The takeaway is that you should always keep in mind what kind of surroundings your clients will want to see, because they are going to have them around as much as the property itself.
Hope it was a fun read. If you liked it, let us know in the comments, and we’ll keep writing more to help you find, reach, and retain your perfect customers.
I help companies sell their property off the plan through better 3D visualization | Owner, Faraday 3D
Originally published at https://www.linkedin.com on September 27, 2017.