Monthly Archives: March 2007

How to Identify Your Niche Market

The final step in choosing a target market is to narrow down your target audience even further.
Not everyone in your target market will be a friendly, considerate client. In this step, you should identify characteristics of the types of people you enjoy working with. This will be your niche.
Not everyone in your […]

Marketing Plan, Strategy, Target Market

How Many Target Markets Should I Pick?

To succeed in any business, you have to be able to focus your resources. Reaching many people once isn’t enough. You have to reach them repeatedly. It can take upwards of 7 contacts before someone even remembers who you are. If you only send one postcard to them, you’ve just wasted your money.
That said, once […]

Marketing Plan, Strategy, Target Market

How To Identify a Profitable Real Estate Target Market

How can you tell if a market segment will be profitable? There’s no hard and fast rule that will tell you “yes, this is profitable” or “no, it isn’t”. However, researching the data on your target market can be useful.
Here’s a quick way to analyze a market if you have a geographic focus. […]

Industry, Marketing Plan, Strategy, Target Market

How to Select A Niche Market in Real Estate

Once you segment your market, you’ll have numerous groups with common interests, characteristics, and motivations, but not all will be right for you. How do you know which segments to choose?
The best target markets are:

Marketing Plan, Strategy, Target Market

Segmenting Your Target Market: A Bottom Up Approach

In my last post, I discussed a top down approach to picking a target audience. In this post, I’ll discuss how to narrow your target by analyzing your past clients. This approach is for people that have been in business for awhile and have past clients to reference.
In this approach, you start with your current […]

Marketing, Marketing Plan, Strategy, Target Market

Segmenting Your Target Market: A Top Down Approach

If you haven’t worked with many clients, you should choose your target market by narrowing down your focus from the overarching market of “home buyers” or “home sellers”. This method breaks those categories into smaller, more manageable subgroups. Here are some ways to segment your market.

Marketing Plan, Strategy, Target Market

What is a Target Market?

I mentioned in my last post that it’s crucial to choose a target market. In this post, I’m going to talk about what a target market is. Let’s start with the foundations. A market is a group of people

who have specific want or need for your product or service
have the ability to […]

Lead Generation, Marketing, Marketing Plan, Strategy, Target Market

Why Choosing A Target Audience Is Crucial

Before you can start marketing to prospects, you have to know who you’re marketing to. That means uncovering the types of people that are inclined to buy your service, what their motivations are for buying, and why they might buy from you or your competitors.
At any given point, only a small percentage of the […]

Marketing Plan, Strategy, Target Market

Are Your Finances In Check?

Keeping your financial resources in check is the key to running a successful business. We often don’t realize just how much we spend until we look at our bank account and wonder where the money went.
I strongly encourage you to buy business accounting software like Microsoft Money Small Business or Quick Books so that […]

Finance

Setting S.M.A.R.T. Goals

The best goals you can set for yourself are SMART goals. SMART stands for specific, measurable, achievable, realistic and timely.
Specific
Specific is the what, why and how of your goal. What is it that you’d like to achieve? Why is this important to you at this time? And how are you going to do it? Some […]

Goals