Tuesday, April 2, 2013

Luxury Real Estate Marketing: Great Marketing is Matchmaking - Part 2

In Part 1 of this article series we indicated that, as a luxury real estate marketing professional, a marketing mindset is an abundance-based mindset. A selling mindset is a scarcity-based mindset.  A shift to a marketing mindset can make all the difference in the world to your bottom line.  But, where do you begin?  

1. Shift Your Focus and Your Attitude 

First, you must shift your focus to a marketing mindset where you are OPEN to perceiving an abundance of potential new clients in your marketplace. Here is the catch, however:  If you do not also shift your general attitude, that is, your mental mindset from scarcity-based to abundance-based, then you simply will not perceive the new opportunities! 

2.  Narrow Your Focus.  Identify an Uncontested or Under served Market Niche That You Can Dominate 

You must identify a lucrative uncontested or under served market niche that you can dominate and also be passionate about serving better than anyone else.  By shifting your mindset from selling to marketing, you will discover that this niche has an abundance of potential client matches for you, a demand, in fact, for someone just like you. Here is how this principle played out in the field of online relationship matchmaking. 

Match.com and eHarmony.com are two of the biggest online relationship matchmaking services.  The competition is fierce at the top for customers in this field.  Does it make any sense to start another matchmaking service? Why fight over crumbs that the market leaders leave behind?  That would involve a scarcity-based mindset. 

Three companies answered this question by identifying an under served segment of the overall market and set out to serve their niche far better than the big brands.  OurTime.com specializes in the 50+year olds seeking a mate.  BlackPeopleMeet.com serves African American singles. And, ChristianMingle.com is the online community created specifically for Christian singles looking to find friends, romance or marriage. 

The customers of these online matchmaking services are more likely to find the right matches because the focus of the service is more aligned with their particular needs and values. It is highly unlikely that the big brands can serve these customers as well as those who specialize in their niches. 

By offering a superior value proposition to customers in these segments, the new companies are watching an abundance of “fish” jump into their boats rather than going fishing for prospects with a scarcity-based mindset.  Customers believe that the likelihood of finding like-minded matches is greater within a more focused niche. Therefore, the trust factor starts out high and trust accelerates sales. 

Can you see why you would not have to sell a 50-plus -year-old single on the value of using OurTime.com vs. Match.com?  That is the difference between a marketing mindset and a selling mindset, between an abundance-based mindset and a scarcity-based mindset.  It all begins with a shift in focus, a shift in attitude and a shift in mindset!

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