I want to recommend that you read one of the finest books I’ve read: Book Yourself Solid (Port).
One of the greatest misconceptions is that “everyone” will want a certain product or service. While this may come as a shock to some of you, there is no product, service, or idea that has ever been developed for sale that appeals to everybody.
Not everybody wants to be thinner, richer, smarter, blonder, sexier, taller, better hydrated, fresher-smelling, chemically enhanced, or more physically fit than they already are. And not everybody wants to take advantage of once-in-a-lifetime-ground-floor opportunities, or make money from their down-lines, or cash in on the latest trends.
So while that may be bad news for some, in terms of marketing your real estate services, that’s actually pretty good news! Because marketing to everybody is time-consuming and expensive, and I have yet to meet an entrepreneur who is willing to spend much more than 10% (if that) of their annual revenues on marketing.
Why focus on your ideal ‘target’ client?
There are many reasons, but the one I like best is that really happy clients become your unpaid marketing department! Seriously, though, by focusing on a certain type of problem/solution for a specific type of client (1031 Exchange information for folks interested in investing, or diversifying your investment portfolio by adding real estate, TIPS for sellers or buyers, etc.), you enhance your problem solving skills and get really familiar with that category of issues (and therefore more valuable in the eyes of that client).
And of course, marketing to a smaller pool of prospects is easier, quicker, and less expensive than marketing to a huge pool.
Although many REALTORS® are willing to take money from anyone with a checkbook, the truth is that until you know precisely who your ideal client is, getting clients will continue to be a struggle. The more precise you are about what you do and for whom, the more easily you will attract your best client! As Dr. Phil says, you must be able to name it to claim it.
So who is YOUR ideal ‘target’ client? You ‘NICHE’ market? How do you describe that person or market?
If you want your sales to be quick, easy, and inexpensive, you should include these five attributes as a start. Your ideal client is someone who:
- Acknowledges or recognizes their desire to have the outcome (solution or experience) you provide.
- Is willing to pay your fee to get that solution or experience.
- Is motivated for whatever reason to take action to get what they want (and is ready to buy).
- Will be thrilled with your service.
- Will tell their friends about your service.
So who wants what you’ve got, who is ready, willing and able to pay for it, and who will be thrilled with it?
Once you can identify who is most likely to buy from you, and who is seeking your solution to a specific problem, then pretty much all you have to do is let that person know that you exist.
This is much easier, much cheaper, and much faster than trying to sell yourself to someone who just plain isn’t already ready to buy.
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