Estate agencies spend a huge amount of time and money on customer acquisition.
And why shouldn't they? After all, growing a business significantly is usually best accomplished by growing the number of people who pay for its products and services. But it’s how to go about pulling in those new customers that agencies usually fall short on. The key to this is to understand dormant and active markets and have a strategy for reaching both.
How marketing used to work:
Interruption based marketing used to be the only option; the only way to get the word out about your business was something that interrupted your target market’s day – i.e a leaflet through their door, an advert in the middle of their programme, or a billboard on their commute. But with the introduction of technology and the internet, the ability to skip adverts and find information at a moment’s notice, people no longer want to be bothered with interruption marketing, and you’ll most likely find your leaflet will go straight in the bin.
Here’s where content marketing comes in.
What is Content Marketing?
Content marketing uses editorial, graphics and video to attract, inform and engage a target audience. Rather than pushing products or special offers, content marketing works by offering high-quality, targeted material that is first and foremost helpful and useful. This material is pushed out across social media, email, and printed local publications.
Why does content marketing work so well?
The idea of interruption based marketing is that you have a tiny active market in the middle, which are ready and willing to be converted into a customer immediately. Once you send out a leaflet, you hope that one will reach someone in the active market, who will contact you, ready to sell their home. All the other leaflets go to waste, or even possibly put future customers OFF your brand as an unwanted interruption in their lives.
Why content marketing has become so effective is because it doesn’t just reach that tiny active market, but also all the surrounding dormant market who aren’t ready to sell their home just yet. As that dormant market spends time with your brand by reading your useful content, they start to build trust with you, and they’re more likely to come find you when they need to sell.
Lead generation becomes immensely simpler, as those who were marketed to, whether it was a week ago, a month ago, or a year ago, comes to you already pre-sold and loyal to your business.
Does your marketing reach both the active and dormant markets? Are your marketing strategies long term as well as short term? If not, why not?
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