A customer database is the lifeblood of a real estate agent’s business. Within their contacts are all the buyers, sellers, and prospects they’ve worked with in the past and hope to work with in the future. A timely, but vital task is keeping that database up-to-date and organized in the most efficient fashion. There’s one way to ensure database success: marketing segmentation.
With that in mind, here are ten customer segmentation strategies:
Segmentation via Demographics
You can breakdown your contacts by any combination of age, gender, income, education, ethnicity, marital status, education, household (or business), size, length of residence, type of residence or even their profession/occupation.
1. Try breaking contacts up based off type of residence. Those with condos might be looking to upgrade to a house. Those with a starter home and kids are probably looking for something a bit bigger.
2. Don’t forget the importance of age. Segmenting your client database by age can be especially important when it comes to the kind of content you’re sharing with them. This will help you adjust the messaging of your email and communications. Your younger audiences expect video and high-end content. Your older audiences might appreciate a letter in the mail if they aren’t super active online.
3. Are some of your client’s kids just about to leave the nest? Send some downsizing tips to these clients. Did anyone just have a baby? Send them some homes with a little more space.
Segmentation via Psychographics
This refers to ‘personality and emotions’ based on behavior, linked to purchase choices, attitudes, lifestyle, hobbies (recreation, entertainment, vacations, and other non-work time pursuits), personality and leadership traits. If the demographics are the “who,” the psychographics are the “why.”
4. You can ID all your “investors” into a group and send them opportunities to invest in. Although this can sometimes fall into the “work” category, some investors like to do it on the side. They also might be retired and doing it on a part-time basis.
5. Segment based off hobbies. Got a boat and a bunch of boating fans? Invite them to a meet up on the lake. Have everyone tie up together and do a barbeque on your boat. This works for just about every hobby under the sun.
6. ID based on their job title. If you have powerful thought leaders and CEOs in your database, they’d probably like to hear what other thought leaders have to say as well.
Segmentation via Geography
Drill down with zip codes, neighborhoods, or counties.
7. This can be helpful especially for neighborhoods that each have a unique feel to them. People that live in the city typically find different information helpful than those that live in the suburbs. Send each neighborhood new restaurants, just listed homes and homes that sold that are similar to theirs.
8. Most real estate data is divided by zip code or area code. Segmenting via zip code can be extremely helpful for those that are heavy into statistics are market updates.
Segmentation via Life-Stages
There are probably four stages of life you can focus on when looking at home buyers and sellers. Early adulthood (20-35), midlife (35-50), mature adulthood (50-80), and late adulthood (80+). Here are a couple ways to segment based off those:
9. Early Adulthood – Most millennials want to buy a house, but many think there’s too big of a barrier to do so. Send them info on reasons why a house is in reach.
10. Mature Adulthood (50-80) – These people are typically looking to downsize or move South. Send them info of why it’s a good time to sell.
Checkout the other life stages and get inspired for more ways to segment by the stage of life your clients are in.
*BONUS: Segment depending on how long they’ve been a client (or haven’t). If you have referrals sitting in your database, chances are they’ve heard great things about you, but don’t really know you. Segment these into a list and show them what you’re all about.
Customer Data that Powers Marketing Segmentation
You might be thinking, “these are great ideas but how on earth will I be able to know all that information about all of my clients?” Moxi Insights is a great place to start. Moxi Insights is a newly released feature of our Moxi Engage CRM and is no doubt changing the game for sphere marketing with the h
elp of public data. Moxi Insights gives quick and organized client information to agents through their CRM, from general demographics, housing info, lifestyle choices, financials, and hobbies to where clients/prospects donate and invest their money. Agents can potentially see if their clients have pets, drive certain cars, or if they’re a value shopper.
Customer data is an extremely powerful tool. Find out more about Moxi Insights and how to take advantage of this new tool to turn yourself into a marketing superstar with the click of a button.
What are you waiting for? Start segmenting your client database TODAY and start reaping the benefits TOMORROW (and every day after that)