real estate marketingOnce you have developed a budget and set specific goals, the next step in any real estate marketing plan is to research the desired target audiences to ensure your marketing campaigns are directed at the appropriate customers.  Knowing your target audience maximizes the return on marketing dollars and offers the best chance of generating leads or clients throughout the marketing campaign.

Use Demographics

There are several methods for determining the correct target market for any real estate marketing campaign.  One way is to use different demographics based on the market you are trying to reach.  Demographics may include age, income, geography or marital status.  Families with children will have different real estate needs than retired executives.  Lower income families do not have the same buying power as those with higher incomes.  In addition, because each demographic in your market shops in different locations and finds information about products in different ways, choosing the right marketing method is crucial to achieving success through any real estate marketing strategy.

Develop a Consumer Profile

Also helpful when determining the target audience in any real estate marketing campaign is to develop a consumer profile. Customer profiles empower you to create marketing strategies specific to the demographics you are trying to reach. Think about  the beliefs, values, emotions and lifestyle choices of the customer your real estate marketing ideas should reach. Then put together a profile of that person. For example, if you are marketing high-end condominiums, the consumer profile would include an older, wealthier consumer, possibly retired or without children, who enjoys traveling.  These consumers are more likely to purchase a condominium due to the lack of yard maintenance required.

Benefits of Marketing to Targeted Audience

By focusing a real estate marketing plan on targeted audiences, you have the opportunity to focus the advertising budget on those that are most likely to respond to the marketing campaign.  A focused campaign motivates consumers to respond as they feel the campaign is directed specifically at them.  In addition, your advertising dollars reach customers that will generate the best return on your advertising investment.

Knowing your target audience is crucial to your real estate marketing plan in order to get the most out of your advertising budget and to generate more leads or clients.  Stay tuned for the next blog, “Define Your Message” or view the entire series, Develop a Real Estate Marketing Plan. Visit our website for more tools and resources. Be sure to join our Facebook Community and follow us on Twitter for real estate marketing tips.

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