Selling in today’s economic climate is not getting any easier, whatever your line of business, and like everyone else out there, I’m constantly on the lookout for new ideas. And believe it or not, I’ve found one!
My source of inspiration turned out to be the world of real estate sales-undoubtedly one of the most well-established and competitive sales businesses around. But toughness fosters innovation, after all, and in this case it’s an innovation that can be adapted successfully well beyond the sphere of real estate.
The story starts with a Realtor in Taos, New Mexico-a very hot, very competitive market for home sales. John Kejr and his Dreamcatcher Real Estate is so successful, in fact, that they are in the process of developing partnerships nationwide. How did Dreamcatcher achieve the level of success that makes them stand out in such a crowded field?
Their secret is something that I’ve named “Nano-Niche Marketing.” Niche marketing already implies something small-a specialty product or a very defined customer base. “Nano-Niche” marketing takes this to a much finer level.
While other realtors struggle, Kejr’s Dreamcatcher has soared through a combination of two techniques:
1. Innovative use of the Internet, and
2. Increased specialization in the type of property they handle.
Dreamcatcher has devoted a lot of attention and effort to developing a highly effective website. Kejr established and maintains a popular blog, and the site has achieved and maintained outstanding search engine rankings.
But a big part of the website’s success is also due to the fact that they have adopted a very special niche–a Nano-Niche–in fact, in the kind of property they sell.
Dreamcatcher sells Earthships-passive solar homes built with advanced “green” technology and materials. Invented and designed by a Taos-based architectural firm, Earthships offered an extraordinary niche opportunity for Kejr and his company. Through a lucky combination of location and imagination, they got in on the ground floor with a local product that had a huge potential for expansion-and at the right time to capture an explosion of interest in green construction and green living.
Anyone interested in this unique product is bound to be drawn to their well-designed website, where an email opt-in list feeds the company sales leads almost passively.
I ran into several similar stories elsewhere in the real estate marketing world. One successful agent specializes in selling homes designed by a certain highly regarded architect with an established reputation and following. Her customers seek her out, and seek to be in her email network. Another salesman has identified a certain bargain-hunter niche and arranges tours of matching foreclosed properties for his clientele. Both of these Realtors are thriving despite the current real-estate bust.
So how do you take a business with a naturally broad market and develop one or more nano-niches? Finding the best niches for your particular business is likely to take some trial and error. Try carving out a couple of different potential nano-niches and start building nano-sites and individual blogs to develop and promote them. Learn the essentials of Internet marketing (e.g., Search Engine Optimization, page rankings, back-linking). Make sure you’ve got useful information people will want to access and plenty of ways for them to contact you.
The process involves a shift in advertising emphasis away from big media markets to content-heavy conceptual marketing. You may need more staff to come up with the material and technical expertise (blogs, website positioning, keyword optimization), but you’re likely to spend a lot fewer dollars on placing your advertising.
This is undeniably an intense and demanding process that requires a good deal of work. You are aiming at a smaller potential market-your Nano-Niche-so you can and must know that market as deeply and thoroughly as possible. But the expertise you gain can yield big returns by dramatically increasing the efficiency of your marketing efforts and the profitability of your business.
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