Marketing is always going to work better for you if you are targeting your efforts to a certain part of the market. This doesn’t matter if you are creating a product, you are putting together some advertisements, or you are really thinking long-term with a full campaign; knowing who you are trying to appeal to is really going to boost your chances of success. 

When you have a property firm, there is always a chance that you are going to have a variety of clients and lead prospects that you are trying to market to. There are going to be times when you can try and appeal to them en-masse as one big audience. However, there are also times when you are going to need to segment this down to really maximise your potential.   

So, what is marketing segmentation, and how can you use it to your advantage?  

Market segmentation  

Market segmentation, as the name suggests, is when you divide your target market into smaller, more manageable groups. These are created using a variety of different things. This could be their needs, their demographics, their interests and anything else that you can find in common.   

In doing so, you are going to be able to market to them much easier and have a higher chance of success.   

What are the main types of marketing segmentation?  

There are four main areas that you can segment your audience into. You may only use one of them, but you may also find that you can segment your audience into each group and use all four to market yourself.   

Demographic  

The first is demographic, which asks who your client is. You need to consider their age, gender, what they do for a job and how much they are likely to earn doing it. When you understand this demographic, then you are likely to be able to identify the type of property that they are going to want to live in, which can help you to advertise to them the right properties.   

Psychographic  

Next, is psychographics, which looks at your audience based on certain aspects of their personality. You do need to gather information and perhaps use more resources to conduct this research. However, it is information that you can definitely use to help you effectively market the right properties to the right people. You will need to think about traits that they may have, such as lifestyle choices, values, interests and also any beliefs that may apply to them and their decision-making.   

Behavioural  

It is also a good idea to try and segment your market down based on their behaviour as a client and mostly their behaviour when it comes to finding, buying and renting property. You want to think about whether or not they have bought through you before and whether or not you can identify any purchase patterns.  

In order to collect this data, you are going to need to use a CRM database, or you can also install cookies onto your website.   

Geographic  

One of the most obvious marketing segmentation areas that you could do when it comes to the property has to be geographic. This looks at where the clients live or perhaps even where they want to live in the future. Cities, towns, counties, and even whole countries can be used for this and can have a huge impact not only on their buying decision but also on your marketing decision too.   

Why segment your property market?  

Now we know how to segment a market; the next question is why? The main reason to take the time to segment is that it helps you to pay a much better level of attention to each client when it comes to marketing. This will improve the relationship that you have with your clients and really make sure that your marketing efforts pay off.   

It doesn’t matter if your property company is new to the industry and you are trying to build yourself up or you have been around for some time and just need a boost. It is always worthwhile taking the command-and-conquer approach to marketing.   

Take a look at some of my other blogs you may be interested in:

6 reasons why your accountancy practice’s marketing is going wrong

How to fast-track your accountancy firm’s competitive analysis

Need help?

If you would like help with your marketing then bringing on a marketing consultant with a fresh pair of eyes can make all the difference. I work with B2B businesses and professional service firms in London, Kent, UK and Europe as well as specialising as a Legal Marketing Consultant. Please get in touch or book a free 30-minute consultation.