Lisa,
You have a good idea. Recently, I've been looking into other markets I could serve besides the Title Industry. One of those markets happened to be the consumer market.
A major hurdle to appealing to the masses is the advertising budget......it needs to be huge.
A good way to overcome this problem is by "slicing & dicing" a market.
What I mean by that is .......finding a niche within that massive consumer market.
For example, a niche within the consumer market could be
- mothers in the (insert your area)county area
- disabled people in the (insert your area)
-elderly people in(insert your area)
You then develop a marketing message specifically aimed at that group.
In advertising , this is called "flagging"...you are putting up a "flag" that cathes the eye of the particular group your marketing too.
In my experience, the best results come from targeting your market with ads in newspapers & direct mail.
An example could be:
" Attention busy , overworked, underappreciated moms in the Mainstreet USA area"......
TV & Radio are far too expensive for this type of endeavor beacuse you are dealing with a relativley low trnsaction cost.
When I was advertising my real estate business on the radio, the lead cost(meaning how much it cost to get a person to JUST CALL) was in the $30-$50 range, BUT the average transaction was worth 5K-20K in profit.
With direct mail and newspapers...that cost came down to about $10-$20 per lead.
Anyway......it can be done, you jsut need to look kat the various media available to you.
One segment of the consumer market that I was looking at targeting is
"History buffs"...maybe they would like to know the history of their property.....maybe it was once a sacred Indian burial ground or something........you don';t know until you try.
If you have any marketing questions ...let me know, I LOVE marketing and I "hob knob" with some of the best copywriters and direct sales people in the country.
Keep thinkin'
Mark Russomanno
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