In our recent report, “The 7 Success Secrets of Market Leaders,” we identified 7 characteristics exhibited by market leaders. Knowing how you compare to these best practices will help you grow your business. Last week, we addressed the fourth of these seven characteristics: all market leaders optimize their time.
The fifth characteristic that all market leaders share is
THEY MAINTAIN THEIR MARKET PRESENCE
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Why Commercial Real Estate Marketing & Sales Need to Work Hand-In-Hand
Market leaders are experts in their respective CRE discipline, and they broadcast this expertise to become thought leaders. More so, clients and prospects recognize market leaders’ names, understand what they do, and come to them when they have a need or question.
Through maintaining this market presence and position of a thought leader, market leaders enjoy more referrals, win more competitive opportunities, and are sourced by the press for quotes and opinions.
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Market leaders also recognize that they must continually adjust to maintain their “top of mind” position. New technologies have made it easier for any commercial real estate professional to create a strong presence in the marketplace, but this is generally limited to digital efforts such as blogs, LinkedIn, and Twitter, to name a few.
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Market leaders understand to truly be recognized as a thought leader, to be the resource in their local market, they also need to perform, to find, win, and consummate opportunities for their clients. Being a market leader and maintaining a dominant market presence is a combination of being both a thought leader and having significant transaction success.
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Market leaders maintain their dominant market presence by focusing on three target markets:
As noted in the last blog of our Market Leader series, market leaders proactively allocate time to be in front of clients and prospects consistently. Market leaders have targeted prospecting campaigns for potential clients and engagement/maintenance campaigns for their inactive and active clients. Their continual presence in front of these two segments cement their position as the resource to turn to when a need arises.
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2) Top 100
Market leaders implement a targeted and consistent marketing campaign, including personal, physical, and digital efforts specifically for their Top 100 market influencers. Your Top 100 is the one hundred people that have the greatest impact on your personal success. Market leaders don’t worry if they may not have a current relationship with several of the people in the segment. What matters is that all of the people in this segment will get to know the market leader. This is a simple, but often misunderstood concept. Your success is not based on who you know, but more importantly, who knows you.
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Market leaders understand their name recognition, no matter how vague or limited, is essential to their success. As such they share information on channels which have the widest and most diverse distribution. Whether this is a speech, an article, a blog, a radio show, or other mass produced venue. Acquaintances have far greater personal, trusted relationships with potential clients than the market leader, at least until the acquaintance shares the market leader’s content with these potential clients.
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Market leaders understand the most basic principles of business success. Regardless if you are a commercial real estate broker, mortgage broker, property manager, or if you are a baker, a dry cleaner operator, a tire salesman, there is nothing more impactful to your business than sales and marketing. Market leaders maintain their dominant market positions because they focus their, and their team’s efforts on these two success drivers.
Step #5 to being a market leader is maintaining your market presence. Download the other Success Secrets of Market Leaders below:
At the Massimo Group we have worked with our market leader clients in creating customized plans and approaches which allow them to attain and maintain a top of mind position with the key influencers in their respective markets. If you would like to speak with someone at The Massimo Group about how we can work with you to build your plan for greater success, contact us today.