A Fenway story…A few years back my family and I went to Maine for vacation. The day we landed in Boston the Red Sox were playing the Rays in the nostalgic Fenway Park. We decided to go in order to kick off vacation quickly, and to give our kids the REAL baseball experience. The next day my wife asked us what our favorite part of the game was. For me it was the weather, the home runs over the green monster, and overall atmosphere of the park. My son’s reply, who was 4 years old at the time, was “Peanuts! Get Your Peanuts!”. After all of the time and money spent to create this experience, the thing he remembered most was the vendor walking up and down the aisles yelling “peanuts” at the top of his lungs. Every time I remember my son’s response it reminds me that we each consume experiences differently. My son had a much different experience of Fenway than I, just as your customers probably have different reasons for why they use your services over your competitors.
Your Marketing is No Different.Too often we see companies use a catch-all marketing statement to try and appeal to everyone. But as the the old saying goes “if you try to attract everyone, you attract no one.”
Certain marketing messages will resonate with the investor, while others will resonate with the newly licensed Realtor, yet others will resonate with the homebuyer, and so on. For example, a statement like “We have experience closing properties for first-time home buyers, new realtors, FSBOs, retirement homes, investment properties, and everything in between” doesn’t do anything for me emotionally to make me want to use your services. Whereas a dedicated page on your website that answers common questions I probably have with my FSBO, for instance, not only demonstrates your knowledge with FSBOs, it also connects with me and my exact scenario. This is why it is important to try new marketing messages and tactics and keep the ones that work. Many small businesses do this with their marketing… Start a company, find one marketing channel that works like referrals or word of mouth, and stop there. They are masters of their craft but not all of the other things that go into running their business like marketing. What they forget is that Markets change. Regulations change. Times change.
“if you try to attract everyone, you attract no one.”
The companies that are around forever learn that they must adapt with the changes. So once they get one marketing channel that works, offer another service, then rinse and repeat. Here are some well-known examples of this:
Markets change. Regulations change. Times change.
- Google started off as a search engine but now I use their email program and am writing this in Google Docs.
- Amazon started off selling only books. Now my family buys everything we can from our Prime account and stream movies from Amazon.
- 3M started off as a mining company (Minnesota Mining and Manufacturing Company)
- The list goes on…
But what about real estate closing companies?How do we reinvent ourselves? Some acquire other title companies to get more closings in other cities. Others figure out how to use social marketing. Or they make sure that when a new millennial Realtor Google’s their city for a closing company that they are the top result. Not every channel works well for every agent or every market. But the ones that do get doubled down on.
It’s All About the At-BatsOne more thought to drive this home (no pun intended). Let’s say your database of Realtors is around 100 of which, maybe a third bring you a deal each month. Now let’s assume you’ve utilized a few new marketing strategies to increase your Realtor base from 100 to 300. Assuming that a third of them still bring you deals, how much more likely do you think it would be to get to 100 closings each month? Nobody bats a thousand. However, the more at-bats you have, the more opportunities you have to connect. But you still have to swing. If you’d like to create more at-bats for your closing services request a demo with TitleTap to see how our solutions might help.
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