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Slide 6-1
The Marketing
Mix
CHAPTER 6
Slide 6-2
Why Market?
Motivate customer
to take action
Create memorable
awareness for the
future ?
One 66%Two 20%
Three 10%
Four or more 5%
Number of Real Estate Agents Interviewed by Buyer
Slide 6-3
Distance
Absentee buyers and ownersWhere to market?How to prospect?
close
Are You #1?
Decision Time
Long decision time—months, yearsShop while visitingPurchase offseason
close
Two-thirds of buyers only contact ONE agent during the property search process. How can you make sure that you are that one agent?
close
Market Conditions
Step up efforts when market is downReallocate for most bang for buck
close
Slide 6-4
Marketing Means Alignment
Properties and services consumers want
Right product Right price Right time
Slide 6-5
Basic Research Does my business support
promotion of what consumers want to buy?
Your observations are valid Formulate objectives based on
market area, customer base, properties
Who are mycurrent and potential clients and customers?
How do I compare to my competitors?
Where are customers and clients located now?
Slide 6-6
Marketing Media
Match the media and message to the audience
What does the target audience read and hear?
Evaluate cost-benefit of available media
InformationSources#1 Internet#2 Real estate
agents
What is my budget?
Slide 6-7
Tracking Responses
Tells you which media are most effective
Payoff may be long term
Use identifier codes
Ask how the person heard about you
Spend the most where you
make the most
Distinct e-mail addresses and phone numbers
Slide 6-8
6 Questions to Ask
Customer focused or
Unique reflection or
Emotional appeal or
Market niche or
Customer benefit or
Professional
Ego focused?
Indistinguishable?
Resume?
General?
All about you?
Junk mail?
Slide 6-9
Personal Branding
Create a memorable image
Establish expertise
Build reputation
Enhance marketplace recognition
Create “shelf space” in consumer’s mind
Slide 6-10
Personal Branding
Everything about you—your appearance, you car, your office, how you answer the phone, how you treat your customers—creates a “brand” in the public’s mind.
Google your own name
Slide 6-11
How Buyers Find Real Estate Agents
Referred by a friend,
neighbor, relative, 42%
Used previous agent, 12%
Internet Website, 9%
Visted and open house & met agent, 6%
Sign, 6%
Referred by another agent or broker, 4%
How Buyers Find Real Estate Agents
Slide 6-12
Value proposition
Repetition
Logo and tagline
Consistent
Creating Your Brand
Commitment
Authoritative
Congruent
Professional
Idiosyncratic Memorable Attractive
?
Slide 6-13
David Kent“The Real Buyer’s Agent”
Eloise Martin
James Wyatt
Barton WyattEstate Agents
What do these personal brands communicate?
“Eloise Sells
Dallas”
Slide 6-14
The Generational MixWorking with different generations
Buyer Age
Vacation Properties
Investment Properties
Under age 45 46% 50%
Age 45 to 54 23 24
Age 55 or over 31 26
Median age (years) 47 years 45 years