In the book “Riches in Niches: How to Make it Big in a Small Market” Susan Friedmann explains why defining your niche rather than being everything to everybody sets you apart as the go to professional within your field.
For years we’ve been taught to soak in all of the information we can so that when it comes time to spit it out, we’re prepared. My question as I read this book was this: Are we really serving a higher purpose in knowing a little bit of everything or are we doing a disservice to ourselves and our clients by falling short of being an expert in our given field or niche?
With an industry as diverse as Real Estate, defining your niche can be as simple as determining where your interests reside.
- Working with investors
- Targeting a specific neighborhood
- Working with Seniors
- Resort or Vacation Homes
- First Time Homebuyers
- Single Moms
- Online Marketing
In my previous career (or former life as I refer to it) I worked in radio as a morning co-host. One of the most important factors in creating our daily content was understanding and identifying our target demographic. In plain English – who was our listener and what did they want to hear? It’s the same in Real Estate. Once you’ve identified a niche, you now need to define who your target client is:
- Are they male or female?
- What is their age?
- What is their marital status?
- Do they have kids and if so, how many?
- Are they entrepreneurs?
- Do they own a home currently?
Now that you’ve determined who your target real estate prospect is, you need to find them. Where would this person spend time? Listening to the radio, reading the newspaper, reading trade magazines, watching TV, interacting on Facebook, Twitter, Google, or maybe Linkedin?
Narrowing in on your niche market allows you to get more bang for your marketing dollars. Whatever you determine your niche to be, don’t delay in starting your new marketing campaign.
Learn how to tap into your niche and you achieve unlimited possibilities. Not only will you speak directly to your core audience, but you’ll to speak to your soul.
Enjoying what you do and who you’re working with is a gift we should all give to ourselves sooner than later.