What is the Value of a Proposition to your Estate Agency?
If driving sales and building your customer base is something of value, then a proposition is the most effective and wide-reaching marketing activity you can do to help you achieve this value.
A proposition is a short, clear, and concise statement of the tangible and intangible benefits you will deliver to your hyper-local market.
The perfect proposition will quickly communicate the values without further explanation. In addition, each statement must be unique, as it is a method to share the differentiation points of your Estate Agency over your competition.
A promise of value.
In marketing, we call this a Value Proposition. When you communicate the benefits of your services, your potential customers will understand what they will experience and acquire by choosing you.
Like your logo, your value proposition is one of the first things potential customers will experience when they engage with you. With short attention spans when browsing online, your opening pitch needs to be clear and concise to resonate with your market.
A perfectly tailored message can become a huge success factor for your Agency. However, creating a powerful proposition can be challenging (although rewarding), so we have listed a few tips that will help you to create an effective and engaging one:
1. Know your customers
Analyse the market and potential customers. Then, identify your target customers and target market segment to understand their desired benefits.
2. Understand your costs and benefits
Identify and assess the benefits delivered by your Estate Agency and the costs incurred to provide them. It is essential to do this because the value to your customers is essentially the difference between the benefits and costs of your services.
3. Make it relevant
How do you solve a problem, or how can you improve something in their lives? By identifying the thing that makes your service relevant, you'll be able to get your customers' attention and pique their interest.
4. Don't forget about your competitors
After analysing your market and your Agency, evaluate who your competitors are. Next, determine their strengths and weaknesses and identify ways to differentiate your Agency from them.
5. Be clear and concise
Remember that a compelling value proposition is clear and concise. Your target customers must quickly grasp the message you want to convey. It should be at most two or three sentences.
6. Keep it local
Adjust the tone and references to match the area you're targeting. It should be conversational; therefore, use words that they know and use.
Yes, if you are a multi-branch agency, you should tailor your message per branch.
7. Make it visible!
Make your proposition visible and appealing on all marketing materials and profiles. Remember that if you have created a powerful value proposition, but no one can see it, the effect will be zero!
Final notes.
The opinions of your business partners and employees will significantly help create your value proposition but know that the more people you involve in a decision like this, the harder it can be to choose the correct statement.
While your opening headline can be what grabs someone's attention, you must highlight the benefits that come with your service. So what added value can you offer your potential customers?
For example, If you are a Lifesycle user, stress that you do trackable Market Appraisals or offer Heads Up Property Alerts™. Your customers will be interested in these benefits, especially if you're the only one providing them in your area.
These extra benefits don't cost you but can make a big difference.
If you aren't a Lifesycle user, consider the additional benefits you could offer that will strengthen your value proposition and make the decision much easier for your customers.
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