In today’s Wall Street Journal there is an article that applies to targeted advertising. I’m a huge proponent, especially as a small business owner, of the value provided by targeted advertising and promotion. It simply makes sense to communicate your message to the most likely prospect.
The article describes how General Motors and some other national companies are using a service provided by cable TV companies to send ads to the TV’s in homes, and only to homes, that meet their predetermined car buying demographic.
As spokesperson for GM Betsy Lazar says "It’s more efficient because you can target your message to the right group of consumers. Since most consumers shop for a new car once every few years, GM is looking to speak to only about 1.5% of people in the U.S. each month." Amazingly!, a pet food manufacturer also decided to try this program to reach (of all things!) pet owners.
I hope all this seems as obvious to you as it does to me. One of my favorite quotes about marketing is from Claude Hopkins who wrote Scientific Advertising in 1923. He says –
"What you have to offer will interest certain people only, and for certain reasons. You care only for those people."
How does this apply to your marketing of homes and your real estate services. Mass media – radio, network TV, the daily newspaper – as opposed to targeted media, is a waste of your hard earned money (unless you have money to waste – and if you do, please call me).
Products (like our publications and websites) where you KNOW who reads and views the information is where marketing and advertising is headed. Even GM has this figured out!! Only people interested in REAL ESTATE read our publications and go to our websites. Makes sense doesn’t it?
If you’re using the daily newspaper you’re reaching about half the households each Sunday (and paying for it) but MOST (maybe ALL) have NO interest in what you offer. Sounds like a poor investment to me.
Another thought – GM wants to reach ONLY 1.5% of US residents each month with their message – that’s all they believe are buying cars. How many LESS are buying homes? NAR says people move every 7 years. Don’t you want to reach the ones that are buying or thinking of buying?
We all know advertising doesn’t sell houses – Realtors do! But consistent, targeted advertising to the BEST prospects will always result in the right exposure for you.