A Smaller Target Market Can Mean A Bigger Growth!

smaller target market

Today, you do not need to lead an entire housing market to be able to succeed in your field. Real estate agents can find his or her foothold in niche markets. When you choose to shrink your target market, and target a specific group of people, you will have a clearer and more precise marketing plan. Let’s find out more!

Why Target a Smaller Group of Potential Clients?

Oftentimes, it is easier to market to a specific portion of the property buying population than all of them. When your target market is smaller, it will be easier for you to find out what your client wants. You can become an expert that people can trust and rely on for advice. If your market comprises buyers and sellers, you can split the market by focusing on either of them.

With that in mind, it is pertinent that you create valuable and useful content regularly. In today’s time, you need to set up a blog, which has the potential to reach thousands of readers. Nowadays, clients in the real estate industry perform a lot of research before taking that leap. In some cases, they may have started researching several months beforehand. If you are targeting a clientele that comes loaded with questions, having a constant flow of information that answers their questions perfectly strokes that curiosity.

What’s Your Strategy?

Let’s say that you are working as a real estate agent in X area. You notice the presence of an increasing number of non-local buyers. However, you are tempted to target both local and non-local buyers. Hold on. You should actually try focusing solely on a multicultural clientele. By narrowing your target clientele, there is a higher chance of improving your business, by up to 30 per cent!

If you happen to target a Chinese or Southeast Asian community, you should consider immersing yourself in those local communities of immigrant groups wherever you go. It is a stellar way for you find out what is happening in the area.

Next, look out for the largest social media networks they are using. No, we are not only talking about Facebook. With regards to the aforementioned, WeChat is their Facebook. Be mindful of the preferences of different cultures. Fun fact: WeChat has nearly 500 million users in China. Today, there are about 1 billion users worldwide.

Regardless of the market, you should establish and strengthen your presence on the Internet with the aid of a professional website. In addition, set up dedicated accounts on social media sites such as LinkedIn, Twitter, Facebook, and more. Don’t forget to market your business on Google and Bing as well!

You Still Need a Solid Plan

One of the most important business moves you can make before developing a marketing plan is to check your self-identity. Ask yourself:

  • Where are you comfortable working in?
  • Who are you comfortable working with?

Next, comb through your new, target marketplace and find out who is selling and who is buying.

Remember to Move Fast

Today, we live in a world that’s moving at a significantly faster pace than ever before. You may risk losing new business if you are slow to respond to customer queries. Make sure that you are prompt in responding at all times. It helps with your reputation and credibility.

If you are looking for more tips for real estate agents, don’t forget to bookmark our blog for more helpful information bits!