Top-of-mind awareness (TOMA) is when a brand or a specific product pops in a customer’s mind first, when they think of a particular industry.
Companies attempt to build brand awareness through media exposure on channels such as internet, radio, newspapers, television, magazines, and many other mediums.
Is this not the key to real estate success, to have people to think of your name when it comes time to buy or sell?
So how much TOMA would you need to achieve your goals? If your goal is to list 20 homes per year and people move on average every seven years, then you can simply multiply your goal by the number and the result is a whopping 140 homeowners! 140? That’s it? You need to be first in the minds of 140 Homeowners.
Is this doable?
Absolutely! In order for the 7 to 1 ratio to properly work, several variables need to be in play.
First, you need to have the right 140. Simply looking on a map and picking 140 homes at random in a subdivision will likely not work for the desired effect for the simple reason that you may not have any awareness from these people as of yet. TOMA is tough enough to acquire from friends and family, much less to build in the minds of complete strangers. It takes time to create TOMA.
It is important to also realize that this list of 140 homeowners will be dynamic. You will constantly be adding and subtracting people from the list. The 140 at the beginning of the year, will be different at the end of the year. Remember- life happens. Someone may get their RE license, or they may have a close family member enter the business. People will fall off your list, through no fault of your own. It is vital that when this happens, that you replace them. This is essential for your success.
How do you go about identifying the homeowners for your TOMA list? If you are a seasoned agent, start with your past clients. It does not matter how long it has been since you last communicated. Then, go through the friends and family list. Remember all of the people that you may have had conversations with over time, but transactions did not pan out? If you have their information, go ahead and put them on the list initially. Add up your past clients, family, and friends. If you are short of your goal, your top priority is to do whatever is necessary to fill those empty spots.
Before you go door knocking to fill those empty spots, let’s talk about the validity of the initial list. These people need to be contacted immediately to determine if they qualify. Don’t panic. Let’s think about what we could say or ask of these people to understand if they belong. We need to make sure the audience is receptive to the message; otherwise, you will be wasting your time and money marketing to people that do not care about your services.
In order for those people to remain loyal, you must maintain regular communication. You must remind them about your business and your niche on a weekly basis. You must make yourself the most trusted source of information and solutions. You need to have a bragging forum to let everyone know how good of a job you are doing. You need to reach out with personal, tailored information that the homeowner finds useful on a regular basis.
What is important to homeowners? Feeling secure about the value of their home and having a resource to solve home-related problems. Your AccelerAgent website is a tool that can help homeowners feel secure about the value of their home. Hint: It is in the MLS Searches section of your AccelerAgent toolkit.
Homeowners are curious people, especially when they see a new ‘For Sale’ sign in their neighborhood. They are curious about: the asking price, amenities, when the home will sell, and for how much. This can all be solved automatically by setting up a search for all active, pending, and sold properties. These would be good comps for the home in question.
After you have compiled your list of homeowners, set them all up on a search for comps directly from your website. Follow this up with a phone call. Tell them about your new service which allows you to keep them informed of neighborhood activity. Ask for their permission to continue the service. Ask them to suggest people within their circles who may find this information useful. “Do you know of any other homeowners who could benefit from this service?”
Keeping consumers informed will keep you top –of- mind. When the need arises, they will think of YOUR name, and you will get that phone call.
Don’t forget to call and touch base every once in a while…be memorable, not a memory.
Take a chance and take a test drive with us.