Why Consumer Information Can Be Key in Direct Response Marketing
By Julie Escobar
Do you know one of the biggest reasons why so many real estate agents LEFT the business when
the going got tough? And what was a key component in helping those that stayed in succeed, even thrive? A database. A strong, reliable, well-nurtured, up-to-date database.
The best ones start with a solid sphere of influence, and grow exponentially over years in the business. Adding niche markets, new geographic farms and new customers. And what do the agents get in return? A referral base they can count on without having to constantly chase new business.
Start with your sphere. (Those people who know you, like you, and would trust you to do business with them.) And build from there. If you don’t already have your sphere of influence or book of business in a solid database – don’t waste another month putting that together. (There are plenty of college kids who could use the extra money inputting data for you this summer!) Top agents tell us that 66% of their business comes from their sphere. And that one in every twelve result in a transaction per year.
We can help you calculate how many people should be in your sphere to realize your goals – and help you identify top 150 people who should be in your sphere right now. Click here to calculate your SOI.
Next add a geographic farm and a niche. We can help you with that data as well. Continue marketing to those folks until you connect and build a relationship with them as well. Click here to see data options.
Then continue to grow your book of business – and your bottom line by taking care of the foundation of your business – your database of clients and customers. Create touch points every 28-45 days using a multi-media method. Send postcards or powerful newsletters for an easy touch once a month. Add email, face-to-face events, phone calls, and neighborhood canvassing. And stick with it! Remember – most agents quit after the SECOND try, most transactions happen after the FIFTH.
As an organization that has developed top-of-the-line marketing tools for real estate agents for more than 20 years, we know the true value of a customer for all of our customers. That’s why in terms of products, services and data—we leave nothing to chance.
And that’s why we’ve done the research – and we deliver the very best data resources — Experian® — for those agents eager to market to:
• Renters – including high-income renters who are candidates for home ownership. On our site, we use Experian® data to make it possible for agents to search by data selects such as renter, and income level.
• Move-Up Market: Not only can you select confirmed home owners, but you also can define your target market more specifically by considering a real estate lead’s estimated available equity or property characteristics such as year built and presence of a swimming pool.
• Potential Downsizing or Second Home Market: One real estate trend is Baby boomers who are downsizing or investing in second homes right now. To target baby boomers, you can use the year of birth demographic selection available in our consumer database to narrow your pool of real estate leads to those born between 1946 and 1964.
• Potential Investors: Targeting high-income earners as investors.
- Silent Generation (1925-1945)
- Baby Boomers (1946-1964)
- Generation X (1964-1976)
- Generation Y (1976-2000)
How does Experian® get their data? They are an original source compiler, which means they collect data directly from more than 3,500 original public and proprietary sources, including:
- White pages
- Census data
- State and local public records
- Product registrations and surveys (self-reported)
- Property/Realty records such as property deeds
- Mail-order transactions
- Other proprietary sources
The data we receive is then tested and validated. It is cleansed and combined using Experian’s proprietary logic to create the most accurate and comprehensive repository of consumer marketing information available. This process sets them apart from other data suppliers who typically rely on secondary data sources. Since they acquire data directly from the original source, they have in-depth knowledge of the data.
So every time you choose to use our list service, whether you are choosing from data selects such as income and age, or even geographic – to market around current listings, know that you are getting the very best data on the market. And those lists are yours to keep. We tell our customers to add them to their marketing list and stay in touch, at least once every 28-45 days (a Direct Marketing Association recommendation). Before long you’ll have taken those contacts from being a potential lead – to a contact that has come to know you as the brand name to call in real estate.
Need help understanding data and lists? Call our marketing team today at 866.405.3638. Good luck and happy listing!