Marketing through embracing your competition
My in-box this morning held a very insightful email from Ilise Benum about competition. It made me stop and think about my own competition, and about yours. Before I go on, take a minute to read her post – then come back.
Find her letter here.
I’ve been nagging Realtors for some time to create a niche for themselves – and become the absolute expert in that niche. Unless one lives in a small town where no one niche holds enough properties, it’s the best way to make yourself valuable to the marketplace.
With that in mind, why not become acquainted with other Realtors who service other niches? Why not do some cooperative marketing? Why not share leads so that all customers and clients get expert service while you keep honing your skills? You know that if you sell high end homes you’ll occasionally be contacted by a buyer who needs the cheapest repo you can find – is it the “highest and best use” of your time to go out and find it? Not unless you have no other clients at the time.
The same holds true in reverse. If you’ve become the expert and know every repo offering inside and out, should you take time to research all the high end homes to find one for a single buyer? Again, not unless you have no other clients. You’re better off marketing to the people who need what you know best.
The same could be true for say, plumbers, electricians, and general contractors. If your expertise is in building single family homes, should you really take the time to learn all you need to know about permits, regulations, etc. for building a supermarket or a 100 unit apartment building? Not unless your other clients have dried up.
How about hair dressers? If you specialize in “old-fashioned” hairdos for ladies in their 70′s, should you attempt to do a punk style for a 15 year old? Or vice versa?
Seems to me you’d be better off sending them to another hair dresser whose expertise you trust.
Take a look at your own “competition” today. You may find that they aren’t really competition at all, and there may be competitors you can work with for mutual benefit. And, I should add, for the benefit of your potential customers and clients.
Think about it…
Posted: December 4th, 2008 under Uncategorized.
Comments
Pingback from Big Marketing For You » Blog Archive » Thoughts on Marketing… » Marketing through embracing your competition
Time December 4, 2008 at 1:57 pm
[...] unknown wrote an interesting post today onThoughts on Marketingâ?¦ » Marketing through embracing your competitionHere’s a quick excerptWhy not do some cooperative marketing? Why not share leads so that all customers and clients get expert service while you keep honing your skills? You know that if you sell high end homes you’ll occasionally be contacted by a buyer who … [...]
Comment from Yareli Practice
Time December 4, 2008 at 3:38 pm
Moving from traditional marketing to internet marketing is a lot going through rehabilitation and learning to walk again. Yareli Practice
Comment from Marte Cliff
Time December 4, 2008 at 4:00 pm
Yes, but isn’t it fun to have so many possibilities that cost nothing?
Pingback from Real Estate Secret Info » Blog Archive » Thoughts on Marketing… » Marketing through embracing your competition
Time December 4, 2008 at 12:04 pm
[...] unknown wrote an interesting post today onThoughts on Marketingâ?¦ » Marketing through embracing your competitionHere’s a quick excerptWith that in mind, why not become acquainted with other Realtors who service other niches? Why not do some cooperative marketing? Why not share leads so that all customers and clients get expert service while you keep honing your skills … [...]