Working Together for Strong Communities Reaching Target Markets Through Effective Marketing

Working Together for Strong Communities 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 Objectives

Working Together for Strong Communities Who are the people we are talking to?

Working Together for Strong Communities Beliefs on spending, saving and investing. Beliefs on work ethic (owning business versus working for a business). Beliefs on education. Beliefs on Homeownership. Cultural differences in these markets?

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 Multi-Cultural Homeownership Data

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 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 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 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 10 Elements of a Marketing Strategy

Working Together for Strong Communities 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 10 Elements of a Marketing Strategy

Working Together for Strong Communities Market through affiliates to leverage impact –Real estate Professionals –Employers –Faith based organizations –Neighborhood associations Marketing Best Practices

Working Together for Strong Communities Effective cultural resources

Working Together for Strong Communities Effective cultural resources

Working Together for Strong Communities Effective cultural resources

Working Together for Strong Communities 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 National Homeownership Collaborations

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 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 Multi-Cultural Women’s Marketing Toolkit

Working Together for Strong Communities 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 2 nd edition Toolkit provides strategies for outreach to Latinas, Asian and Russian women. Why Minority Women???

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 Coupon Talking Points Pitch Letter Sample Op-Ed (persuasive article about a current situation or rebuttal to a previous article ) Fact Sheet Success Stories Included in the Toolkit

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 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 DC NTI Symposium HO910 The Mind of the Homebuyer: How Consumers Decide and Act

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 !