When taking a standardized test there is a theory to always choose "C" when you don’t know the answer. If you choose "C" every time you don’t know the answer, the probability that you will get the right answer is higher than if you guess whichever answer you think may be the best be that "A", "B", "C", or "D".
This same philosophy applies in real estate marketing. Today, I was creating a Facebook ad and I looked at all the different ad sets I have created. There are a variety of groups, first-time homebuyers, sellers in certain zip codes, people likely to move within a certain age demographic. I realized that just like with tests, I should always choose "C". In this case, the same ad set.
Now don’t take this the wrong way and think of this as a blanket approach for all marketing. I’m not going to be sending a new ad promoting a 3 story home for sale to people over 80. However, it got me thinking that I should really only have two ad sets, one for buyers and one for sellers. If I am always promoting my ads to these two sets, my efforts will be more fruitful.
In fact, this philosophy can be applied to other areas of real estate marketing as well. One of the biggest mistakes I made as a new agent, and I’m sure many other new agents make too, is spreading yourself too thin. I tried to gain new business in a myriad of ways. I tried open houses, I sent mailers to a neighborhood, I called FSBOs. Any one of these strategies could provide a pipeline full of business. However, I made the mistake of trying to do them all, and in the process I didn’t execute any of them effectively.
If you want to farm a neighborhood, pick one small area and send mailers to that neighborhood regularly. If you want to acquire listings from FSBOs, call FSBOs every morning. If you want to succeed pick a strategy and stick to it!