What is the best way to market in a fiercely competitive industry?
I have a real estate business. What are the best ways of marketing it? Mainstream advertising, online media, social media, event, direct marketing or canvassing promotion at public venues?
For Real Estate I believe it is personal Networking and personally communicating your "Value" as a knowledgeable professional. All the choices you list can be productive if they distinguish you from the herd of other real estate people.
Trust and experience will make you a reliable person in the market , whoever may be your competitor. Always be genuine to your customers in terms of money and profession.
The "best" way to market depends on the particular market you are targeting at a particular time. Markets are fickle nowadays. Some markets value speed more than anything. Work fast and assure quick response and follow-up. Others value trust. Give them reason to trust you into making a decision for them. This can be tricky as not everyone trusts for the same reason. It all boils down to knowing your market well enough so you can make an appropriate choice of medium for a well-designed message, delivered at the right moment (and place).
By providing the very best service in your area, so that your satisfied customers become your main marketing agents through their feedbacks and referals.
Dont market aggressively- focus on soft selling and building relationships-
Focus on deliverables- once you have a reputation for effective delivery, word of mouth publicity will do the trick
Be ethical in your orientation- do not over promise and under deliver.
Most customers are inundated with products and solutions, but they need real insights into several issues:
1. Use cases in their industry for your solution
2. Business and revenue models
3. Rollout deployment costs and ROI
If you can answer these questions, you'll immediately get invitations to present to the company's decisionmakers.
A lot of what has been stated here is good advice. You need to distinguish yourself from the competition. Create as unique a value proposition as possible. Few people do what they say they are going to do. Good service and good execution of your promises will speak for your business and you. Relationships build a business. Nothing fancy. People buy from people they trust. People buy from companies they trust. People trust people and companies that deliver. Word of mouth moves based in experience and social proof. Don't ignore your competition. Learn from your competition. Partner with your competition where appropriate. Set yourself apart. Steal market share one inch at a time thru solid relationships.
It looks like to cater to both commercial and residential. These two are different on how you promote/market them and gain customers Most social media sites are great for residential buyers but for your commercial buyers you have to be mindful on what social media sites you use. Go towards avenues that are targeted at businesses i.e, networking events, Linkedin, and industry events. But in both cases it is very important to know what your competition is doing and differentiate yourself from them. Be unique in your offerings that will get the attention over your competition.
First, always ask yourself what does my competition look like? What do they do to make them standout? Compare their value proposition to yours. If there something that they offer they you do not?