Tuesday, December 15, 2009

Luxury Real Estate Marketing: Dominate The Uncontested Market Space

Recently, we responded to an S.O.S from a successful luxury real estate marketing professional who put out this distress signal: I have been blogging consistently. Why is no one commenting or following me? Is there anyone out there? For those of you who are experiencing the same frustration, here is an important tip: Discover and dominate an under served market niche

A niche is specialized market. It is a market segment or a particular market “space”. An example of a niche in luxury real estate would be historic homes. When we were in commercial real estate in Beverly Hills we specialized in high end retail and the entertainment industry. One of our jobs was to go to find potential tenants for retail stores and shopping centers that we represented exclusively, on Rodeo Drive, or surrounding areas.

In doing some research for an upcoming blog series we found an excellent analogy for niches by Ray Wert on his Jalopnik.com blog. He referred to niches as the spaces between the marbles in a Mason jar that is full of marbles. If you were to pour sand in the jar it would fill those spaces and there would be a surprising amount of room for the sand. Only when you can no longer add sand is the jar really “full”. The marbles represent what everyone else is doing, the niches exist in those spaces between the marbles that the sand fills.

To be successful as a blogger, as a luxury real estate marketing professional, you must first identify an uncontested market “space”. The first place to look is for an under served consumer group. It must be a niche about which you can write passionately.T It needs to be a market segment for which you can offer an extraordinary promise of value, value that cannot be found elsewhere. And, you must blog in your own unique voice, your authentic style. That is, if you want to build an audience and be follow-worthy over time.

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