Magnetic marketing is a phrase that has been coined by Dan Kennedy, and I feel it represents the way we absolutely must market today if we are to succeed.
For the most part, marketing and prospecting has always been done in a manner that could be compared to hunting. Business people would go out and try to get an appointment, and then they would try to convince someone to buy their product or sell someone on their service.
If this didn’t work, they would try and try again until they succeeded or gave up altogether. This process is exhausting for both parties. Let’s face it; no one wants to feel like they are “prey” that is being stalked. Magnetic marketing involves creating an environment where your client or customer feels like he is selecting you rather than one where you are pushing your products or services on them.
Today, wise business people have learned not employ hard selling methods. It is much smarter to create systems that bring people to you by giving them something they need for FREE; which is almost always information in our business. People today just can’t get enough information. If you can fill this need until they “know, like and trust you”, they will be eager to buy from you in the future. You are no longer acting like a pushy salesman, but you are the “go-to” person for information.
Precision Target Marketing
It doesn’t do you any good to have great information for folks, if it isn’t the right information for that particular group of people. Real estate investors naturally want to market to other real estate investors. But ask yourself, “Does this include all real estate investors”? Probably not.
As a wholesaler that deals in single family, bread and butter homes, I am going to naturally market to rehabbers and buy and hold landlords. I might also market to other wholesalers if I have a house I need help selling. But I wouldn’t send my marketing to commercial real estate investors. They are not my target audience. Also, if I know someone that deals in high end property I’m not going to include them either.
The lesson here is to get very clear on who your target market is before you ever begin a marketing campaign.