However, number of middle income workers like service work, sales workers, technicians and trade workers is more in this post code. This should form the center of their focus while marketing.
Their choice of postcodes 4068 is also a good one. From table 1, we see that there are many people at the higher end and an average number of people at both the middle and lower income earners. The median individual income per week, from table 3, is slightly below $600 which is average. The agents, in this case, will have to concentrate mostly on the clients who are middle-level income earners. Because they are the most likely to see and buy houses. The post code, from table 2, has the highest percentage of couples without children. MicGrath (2011) argues that couple families without children have “no money being spent on nappies and child care, they have greater means to buy real estate”.
Their choice of post code 4070 is not a good strategy for Century 21. It has few populations generally. It also has the highest percentage of couple families with children from table 2, and couple families are unlikely to move from their residential areas. The low population may be because real estate developers have not built their houses in the region, or there is a lack of basic infrastructure such as roads, electricity and water or lack of security in the regions. It is, therefore, not the best market for real estate business.
The following are some additional marketing strategies that Century 21 can employ to be top in their business:
- Branding the business with a unique logo. This will make them be identified uniquely.
- Keeping its logo known to the public through promotional items such as calendars, key holders, and clothes.
- Designing and updating their website in a regular basis;
- Writing a monthly or weekly column in their local newspaper;
- Talking about their services on their local radio or television;
- Sponsoring a sports team at a local school;
- Distributing fliers, newsletters and other written communication to churches and business centers;
- Hosting an annual holiday event for their customers, and probable customer;
- Being visible through attending conferences and other networking opportunities to learn new ideas, products and services.
The customer perception of unfaithfulness of real estate agents is an issue that the company needs to address even though it was ranked 23 out of 25 in a recent survey of careers. The first thing the agents should do is to work with integrity and honesty. They should always do what they promise their customers. In case an agent is not capable to do or does not know, what a client wants him to do, it is good to tell the client (Andruff n.d). It may seem admitting ignorance, but it is better to be honest to clients than lead them down to the wrong paths. Clients will always trust honest agents especially those who promise to find out who can answer their questions and follow through. Clients will see an agent to have strong ethics when he is honest, admits mistakes and take responsibility for his actions. They always have confidence in such an agent’s skills, and will feel to have known him well enough as a person to entrust with future business.
Listening is another thing to be considered by agents in order to gain trust from clients. Agents should be fully present while speaking to their clients by listening keenly to what clients are saying. By maintaining eye contact and asking timely questions, the clients will feel that they are the only ones and your first priority. Along with listening, agents need to learn how to read body language. This can reveal to them most of what the clients are thinking at a particular moment, which in most cases is incongruent with the words that come out of their mouths. Andruff n.d said that “if your client says yes to something, but you can see that her shoulders are hunched, her hands are clenched, and she's biting her bottom lip, it's clear that she does not really want to say yes”. Agents should always acknowledge that. In case they see it in clients if they are not satisfied, they should address the issue in an empathetic and respectful manner. This strengthens the relationship because clients will feel understood by the agent.
Not forgetting the value of hard work, clients should always ensure that they work hard to deliver good results to clients. This will also help to tackle the problem of unfaithfulness. Agents should come up with new approaches to the business. If an agent has worked with some clients, he should ask them for a testimonial. Testimonials act as social proof that the agent can do his job – and that he has successfully helped others with similar concerns. Along with testimonials, agents should use client stories to further boost their credibility. When clients ask an agent a specific question, he should tell them a story of how his previous client had that similar problem and the steps he took to solve it.
The price and quality of the services and products they offer to their customers should be reasonable. The quality should be higher while prices competitive with those of their competitors. Low quality with high prices discourages customers and creates a negative perception. All these techniques not only build an agent’s credibility, but also act as fundamental components of any marketing campaign.
Use of E-media
E-media marketing has been made possible with the invention and concentration of VCRs, computers, and DVD players. It is an inexpensive way to market a product or service when the cost to target audience is considered. Most companies can reach many customers worldwide today at a lower cost through online marketing as compared to the traditional marketing. E-media also helps marketers to know how customers used their websites or responded to their advertising by measuring their statistics easily and inexpensively through the use of ad server or other online metric tools. E-media advertising is an appropriate way to complement print media. It helps to create awareness, build brand, and keep an enterprise in front of current and potential customers.
Real estate agents should create a website that contains their contact information, the services they offer and a list of clients they have served. This will help clients to have an in-depth understanding of their company. In a highly competitive market place like the internet, it is appropriate to have a professionally designed website that is a search engine friendly (eMedia Worx 2011). This will help clients to find the website easily by searching through the search engines. The agents should also link customers’ websites to their website and provide a way that the customers’ website greets whoever visits the web with the agents’ targeted offer.