Working Together for Strong Communities
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Working Together for Strong Communities. Reaching Target Markets Through Effective Marketing. Working Together for Strong Communities. Objectives. Examine how changes in the market mandate making strategic marketing an organizational priority.

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Working together for strong communities

Working Together for Strong Communities

Reaching Target Markets Through Effective Marketing


Working together for strong communities

Working Together for Strong Communities

Objectives

  • Examine how changes in the market mandate making strategic marketing an organizational priority.

  • Discuss the importance of aligning business goals with your marketing goals.

  • Importance of understanding your targeted markets

  • Examine marketing Best Practices


Working together for strong communities

Working Together for Strong Communities

Who are the people we

are talking to?


Working together for strong communities

Working Together for Strong Communities

Cultural differences in

these markets?

  • Beliefs on spending, saving and investing.

  • Beliefs on work ethic (owning business versus working for a business).

  • Beliefs on education.

  • Beliefs on Homeownership.


Working together for strong communities

Working Together for Strong Communities

Embracing Multicultural Markets

Means…

  • Recognizing that minorities markets are continuing to grow.

  • In order to be sustainable non-profits must connect to these markets in a broader way.

  • Laying the framework for new partnerships.


Working together for strong communities

Working Together for Strong Communities

Multi-Cultural Homeownership Data


Working together for strong communities

Working Together for Strong Communities

Elements of a Marketing Strategy

  • Marketing is a key way to accomplish your organizations business goals (fund raising, increasing homeownership rates, etc.)

  • Marketing takes time, planning and commitment

  • It must be strategic (designed with outcomes in mind)


Working together for strong communities

Working Together for Strong Communities

10 Elements of a Marketing Strategy

  • 1.Goals: Goals address what you seek to accomplish. Your goals should be SMART ( Specific, Measurable, Achievable, Realistic ,Time sensitive) and directly connected to your organization’s business and marketing goals.


Working together for strong communities

Working Together for Strong Communities

10 Elements of a Marketing Strategy

  • 2.Target audiences : those people you must reach to achieve your goals.

  • 3.Market Research/ Analysis: research used to obtain reliable information about your audiences- where are they and what are they’re preferences, etc?


Working together for strong communities

Working Together for Strong Communities

10 Elements of a Marketing Strategy

  • 4.Product Profile: products you have that match the demands of each of your markets.

  • 5.Messages: speak directly to your target audiences and address what they want.

  • 6.Marketing Strategy & Tool Development: Designates how your message will be delivered. Be creative while focusing on your goals, audiences and messages


Working together for strong communities

Working Together for Strong Communities

10 Elements of a Marketing Strategy

  • 7.Training the Team: each person in your organization is an ambassador to the public about your organization.

  • 8.Timetable: Decide who will do what, when

  • 9.Budget: Be exact and realistic when putting together your budget

  • 10.Evaluation: determines whether or not your strategy is successful


Working together for strong communities

Working Together for Strong Communities

Marketing Best Practices

  • Market through affiliates to leverage impact

    • Real estate Professionals

    • Employers

    • Faith based organizations

    • Neighborhood associations


Working together for strong communities

Working Together for Strong Communities

Effective cultural resources


Working together for strong communities

Working Together for Strong Communities

Effective cultural resources


Working together for strong communities

Working Together for Strong Communities

Effective cultural resources


Working together for strong communities

Working Together for Strong Communities

National Homeownership Collaborations

  • NAREB, NAHREP, AREAA have developed a 5 point plan to address minority homeownership

  • “Creating A Sustainable Path to Homeownership” was unveiled during the 2010 Multicultural Real Estate & Policy Conference in Washington, DC


Working together for strong communities

Working Together for Strong Communities

Creating A Sustainable Path to Homeownership

  • Point Two: Mandate pre-purchase homebuyer education and household budget management.

    -Studies have shown lower default rates for homeowners who had pre-purchase counseling & education.


Working together for strong communities

Working Together for Strong Communities

Developing culturally effective marketing plans?

  • Identifies a strategy to engage a market.

  • Will help organizations identify the most effective outreach efforts for the communities they serve.

  • Considers potential funding opportunities.

  • Helps drive better programmatic outcomes


Working together for strong communities

Working Together for Strong Communities

Multi-Cultural Women’s Marketing Toolkit


Working together for strong communities

Working Together for Strong Communities

Why Minority Women???

  • More than 20% of homebuyers are single women. Only 10% are single men.

  • Female headed household homeownership rates for minorities lag behind white females.

  • The 2nd edition Toolkit provides strategies for outreach to Latinas, Asian and Russian women.


Working together for strong communities

Working Together for Strong Communities

Included in the Toolkit

  • Radio PSAs

  • Door Hanger Template

  • Guidance on how to write success stories

  • Talking points

  • Sample agency fact sheet


Working together for strong communities

Working Together for Strong Communities

Included in the Toolkit

  • Coupon

  • Talking Points

  • Pitch Letter

  • Sample Op-Ed(persuasive article about a current situation or rebuttal to a previous article )

  • Fact Sheet

  • Success Stories


Working together for strong communities

Working Together for Strong Communities

Other Toolkit Features

  • Community outreach guidance

    - Advice on how to build trust

    - Understanding of cultural differences.

    - Tailoring your messaging to the target audience


Working together for strong communities

Working Together for Strong Communities

Strategies for Reaching

Minority Communities??

  • Recruit volunteers and board members that can help

  • Roundtable discussions

  • Churches and Places of Worship

  • Work on building your circle of contacts


Working together for strong communities

Working Together for Strong Communities

DC NTI Symposium

HO910

The Mind of the Homebuyer: How Consumers Decide and Act


Working together for strong communities

Working Together for Strong Communities

HOC Marketing Working Group

  • Share tips and strategies

  • Peer-to-peer sharing

  • Assist in generate new marketing strategies

  • Develop best practices

    Sign up today !


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