I have briefly introduced already the concept of Message, Market and Media. By saying ‘specialise your marketing’ what I am stressing is that you need to match your Message to your Market, whilst also using Media that is relevant to that Market. The better you can do that the more effective you will be.
The difference between ‘reality specialising’ and ‘specialising your marketing’ is that you don’t need to ignore or refer out the other borrower categories. What you need to do is to have marketing systems specific to attracting first home buyers, marketing systems specific to attracting property investors, marketing systems specific to high net worth clients, marketing systems to people getting divorced, etc., — whatever market segments you want. You will get far more bang for your marketing buck. The more clearly you define your target market, the more clearly defined your message can be (not to mention easier to create) as well as more relevant to them.
Out of this you may find that one target market becomes clearly more profitable than the others and you may then move to ‘really specialising’ in it and form a network with other specialist Brokers. Or you may bring in Brokers to work for you and assign each to handle one target market — the end result is a sharper marketing process, better conversion rates and a better service to your clients.
No matter what you do, you must ensure that your marketing is tailored to the market segment you are trying to attract. People are always looking for examples that match their situation so you need them to see themselves in your marketing to give you the best chance at getting a meaningful response.