Regardless of your political affiliation, there’s a lot to learn from the microtargeting approach that the Obama campaign took to connecting with voters. Microtargeting is the process of crunching large amounts of data on opinions and interests to drive a specific action. For example, a young Democratic voter who’s particularly concerned about environmental issues might receive messages about the candidate’s position and his previous actions to safeguard air and water quality.
For realtors, microtargeting takes the guesswork out of who will respond to what message at that time. It’s also a way to nurture relationships with our contacts that are so valuable when marketing a new property. I would venture to say that microtargeting benefits home buyers and sellers alike.
If microtargeting is done right, home buyers aren’t going to get hit with offers they aren’t interested in. And for home sellers, it will help them sell their home faster because their realtor is reaching the right audience with the right message at the right time.
However, realtors typically haven’t taken advantage of the wealth of data they have available for microtargeting. They mail a new listing postcard to a particular neighborhood, or call some prospective clients to let them know about the home, but they don’t usually do a great deal of real “targeting”.
For example, if I list a new 4 bedroom colonial home in a neighborhood setting in Hopkinton, I can develop a likely profile of the type of buyer who would be most interested in this property. I can look at what their income bracket might be, and from that I can discern potential occupations of that individual. I might assume the person has at least one child or is planning a family. I can gather data about who might be more apt to buy a new home. And I can look at how long the individuals in my database have lived in their current home to make some assumptions about whether they may be interested in moving.
As an industry we have an amazing opportunity to truly deliver what clients want—and to market our listing clients’ homes in a much more targeted, more efficient manner.
Have you seen microtargeting used in real estate? I’d love to hear your stories!