Marketing Diversification: A Major Key to Success
Some people like to stick to their guns when it comes to marketing. With real estate some professionals stick to ONLY post cards. ONLY driving and searching for vacant homes, ONLY relying on bandit signs, even ONLY certain income levels and demographic criteria. While keeping a focus is not a bad thing, diversifying your strategy every once in a while could mean the the sustenance of your business, especially if you are just starting out.
Whether you are well experienced or new to the industry, you will see that leaders change up their strategies and areas as they dabble through the markets in rapid and consistently changing times.
What is the definition of “insanity”? Most of you know have heard and know this, but just to recap. Doing the same things over and over and expecting different results. You may have a strategy that is working well! And that's fine! I would never discredit anyone's methods. So what if you wanted to grow? What if the goal of your business, portfolio, or assets, was to improve? Would you stick to only one specific method? Probably not. Diversifying doesn't just mean come up with different methods to market, it means coming up with different areas. Possibly even changing demographics. Keep to whatever is working, but in the mean time, play around with the market every once in a while. If and when things change, in which they will, you will be ready. Your company will be able to adjust to the trends accordingly because your exposure has reached different untouched areas. With that said, by diversifying your marketing methods, your business and model will be full of unstoppable growth.