Market segmentation is a fancy way to say that you should know where your business is coming from, as well as where you want it to come from.

The way you approach your clients is important – from the basics like business cards to the way you talk about marketing their listing or helping them search for a home. When it comes to promoting your own business, do your real estate marketing materials send the right message?

Knowing your numbers is an important first step toward making sure your marketing is being aimed effectively. Try this quick exercise: take a look at your business over the past year, and make a brief demographic profile of three groups:

• The clients you work with most often
• Your most lucrative clients
• The clients you enjoy working with the most

There are a couple of possible outcomes for this exercise: you may find that the Venn diagram of your favorite and most lucrative clients overlaps significantly with the clients you work with most often; or you may find yourself with two or three very distinct circles.

If you see a lot of overlap, then congratulations! Your real estate marketing is already doing a great job of attracting exactly the kind of clients you want to work with.

If you don’t see a lot of overlap in the groups, you may want to evaluate your marketing materials and approach, and see if you could be doing more to draw in your ideal clients.

For example, you may find that you really enjoy working with seniors who are downsizing into a smaller home, but you don’t end up working with those kinds of clients very often. Take a look at your real estate business cards: do they highlight your skills as a senior relocation specialist? Would a real estate door hanger campaign make sense in an established neighborhood with lots of older homeowners?

If you find that your favorite and most lucrative clients are young families and first-time home buyers, have you looked into real estate EDDM postcards that target areas with young demographics?

Marketing is a never-ending process. Taking the time to evaluate where your business is – and where you want it to be – is a great way to keep yourself on track.