Is real estate your real marketing problem?
They say “location, location, location” is the key, but sometimes it’s the problem.
I just attended a business function where a local print shop owner complained about the fact that Internet printers are putting pressure on traditional printers. His company had not invested in digital printing, relying instead on being one of the largest offset printers in the area. For years, that was good enough. But it doesn’t work anymore.
This is why. In the “old days” (before the Internet), companies could create a market by being the only local ones. There are fewer and fewer products and services where “local” alone is good enough to guarantee you a market.
Sure, you can’t order a freshly brewed latte out of state, but you can buy a latte machine and order the latte from anywhere in the world. You can even order pizza and a gourmet dinner through one of the many upscale frozen food companies that deliver anywhere in the US (You may not save on the cost of admission, but there is no charge for your drink, tax or tip).
Location alone will not save you. If you can’t compete on price with people who provide the same service over the Internet, you’ll have to compete on responsiveness, exceptional customer service, or really tangible added value to keep your business.
Most companies are stuck thinking of themselves as limited by a certain local geographic region, usually the distance they or their clients are willing to drive for a face-to-face meeting. Who said that had to be the limit?
Most of my business is done over the phone with clients I’ve never met in person. Much of the work I outsource is done by talented people who had the right skills at the right price all over the world. Welcome to the global economy.
Awake! How can you repackage, reuse, or repackage your services to provide something that could be provided to anyone, anywhere?
Real estate is supposed to be the ultimate “local” business. But a growing number of real estate agents in high-growth areas are connecting with agents in areas where people are leaving due to relocation. They calculate a referral fee that benefits both parties, and suddenly all of North America is their territory. Restaurants can find a way to mail in a favorite menu item (the Penn State Diner has been mailing its oh-so-wonderful Grilled Stickies to hungry alumni for decades), or even a sauce or dressing. Do you think you are limited by the license? Oh really? Does “WebMD” ring a bell? What about places that sell pet medications or contact lenses over the web?
The problem is not in the market, it is in the mind. Visualize yourself as a national or international business person. Now, how do you supply your service or product to your market? Yes, it means making changes to your mindset, your pricing, your business model, and your goals. Hang in there, pull up your big boy briefs or big girl panties and get over it. Change happens. And when the market changes, those who don’t know how to change with it are left behind.
If you’re having a real estate problem with your marketing, it’s time to shut down the old ideas and shift your IP to a whole new way of looking at the world.