Gone are the days when people used to depend on newspapers and local agents in quest of real estate properties. Real Estate is no longer an offline business. Today, the internet has leveraged people with the power to find the best-suited real estate properties with just a few clicks. Agents dealing with property of land and buildings had lost control of their power and are now learning the importance of digital marketing for the real estate industry and putting in the necessary efforts to re-establish their power in the sector. According to a recent study, 98% of Older Millennials search on online websites compared to 89% of Older Boomers and 72% of the Silent Generation.
Thus, the need for a proper marketing strategy in the digital arena has become the need of the hour. Digital marketing help in establishing an online presence to boost brand visibility. Both buyers and real estate agents feel that digital marketing is the best option to generate leads.
Challenges in Real Estate Industry:
The real estate marketing industry is cluttered with information. Without the correct channel,
the message gets lost.
Lack of profit
Traditional marketing cuts a big hole in the pocket and is not usually not preferred by
real estate companies.
Since the real estate industry is cluttered, the profit margin and the rate of conversion in the industry fluctuates a lot.
In an industry where there is immense competition, it becomes difficult to maintain a loyal customer base and image.
Digital Marketing Channels for growth in the real estate sector
With SEO or Search Engine Optimization, we make our clients’ web pages easily discoverable and rank on the search engines along with increasing organic tractions. We also make sure that our clients get regular organic leads through proper SEO methods.
The strategies for our clients are based on increasing their ROI by increasing the number of conversions through different channels of communication. We also provide an estimate to our clients about what the future expectant numbers look like
- Social Media Marketing
We use the power of social networking sites as a tool for advertising and promoting our clients’ brands. Through continuous optimization of ads, we create awareness about the brands and increase the potential customer base.
- Content Writing
Content writing is a vital part of digital marketing. Be it website development or creating campaigns, clear and crisp communication is the crux of every advertising. We ensure a high-quality message is delivered to your clients.
- Website Designing & Development
We build websites keeping in mind the brand’s objectives and purpose. The design is done depending on the identity of the brands- color palette, typography, tone of communication, and relationship with their customers
- Website Maintenance
Designing and developing a website is the easiest part. But, the most important work is to maintain the website. We ensure that the website is user-friendly and the content and pages are updated frequently.
- Digital Solutions
We are ready to solve any problem our clients are facing with our state-of-the-art technology and creative minds. At Altois, we believe in working as partners to our clients and give them the freedom to narrate their issues and expectations with us.
Understanding digital marketing metrics in real estate.
Cost per conversion:
Also known as Cost per Action, displays how much it actually costs to get a real customer who will take a successful conversion route.
A conversion might depend on what the company wants from the customers like, opting to do a purchase, signing up, or watching a video. CPC signifies how fruitful an ad is in achieving its goal based on the total cost of that ad.
Traffic and Impressions:
Website traffic refers to the number of users visiting a website. Web traffic is usually measured in terms of session numbers, purchase percentage, channels, and bounce rates. On the other hand, Impressions refer to the number of times a visitor looks into a specific element of a page, be it an image, text, video, or content. Impressions don’t engage in actions. These are usually calculated to the amount an advertiser needs to pay to advertise his ad on the website and as it is based on the advertisements.
Qualified Leads Ratio:
Qualified leads ratio is the number of leads who visit a website and convert to customers compared to the total number of visits.
Leads by Source:
There are many ways to increase your leads. But the principal point is the need to identify the best lead sources. Once you get the idea of where the traffic is coming from, the next step is to focus all the marketing energy on that area. It should be noted that your website should be one of the chief sources of lead generation.
Lead generation is the process of recognizing, enticing, and converting people into prospective customers through various marketing channels along with lead generators. Common lead generation channels include search, social media, email, landing page, and website.
Advantages of digital marketing in the real estate sector
Digital marketing is demonstrated to be an effective mode of marketing when it comes to online real estate business. Businesses are reaping the fruits of the digital approach which has made them able to transcend the physical boundaries and engage with customers through the internet. Let’s take a closer look at all the advantages of digital marketing in the real estate arena:
- BRAND AWARENESS
In today’s time, everything is a click away. Connectivity is the key to a business’s success. In real estate, buyers no longer prefer to visit property developer’s offices for information. They can easily filter their needs and want into a search engine and have a list of properties they are looking for.
With digital marketing, it has become easier for real estate businesses to increase their brand awareness. With the proper method of advertising and engagement, these companies are able to bring visibility among the targeted audience and buyers. Establishing an online presence will help the business in generating more leads for prospective buyers, thus increasing the count of conversion into actual sales.
2. IDENTIFYING A TARGET MARKET
By reaping the benefits of digital marketing in business, developers can decide their target audience. The target audience can be defined on the basis of geographical reach, psychographics, and behavioral components.
Narrowing the target audience is an intelligent move to only focus on those people who fall into the company’s purview of the product. It builds an effective and sustainable business model and decreases the risk of marketing going in vain.
3. COST EFFICIENCY
Digital marketing budgets are low compared to traditional marketing. Let’s take traditional outdoor media and a Google ad. The outdoor ad needs to be run in every city separately, while the google ad is run on a single platform that is visible to everyone irrespective of geographical location. As digital marketing campaigns are measurable in real-time, there is the scope of tweaking the message and change platforms.
4. MULTILINGUAL MARKETING
When a reader consumes content in their native language, they are more likely to engage with it. This increases brand awareness and brand recall and lends a sense of trust to your customer. A customer tends to buy a property when a friend or relative recommends it. Real estate companies should use a vernacular approach for their content to better communicate with their target customers.
Different digital marketing platforms
- Search Ads
Google search ads are online ads that appear on the search engine result page when users search a particular keyword on Google. These ads can be mainly of two types- PPC, or pay-per-click ads, in which advertisers pay for each ad click. Google’s PPC search ads are managed by Google’s AdWords advertising platform, which gives the advertisers the chance to bid on keywords, craft ad text, and more.
- Display Ads
Display advertising is a form of advertising that delivers highly visual and personalized ad experiences based on customer intent signals visually by using text, logos, animations, videos, photographs, or other graphic materials. Display advertisers frequently target users with particular traits to increase the ads’ effect. The Google Display Network is a great way to increase brand awareness among potential customers who are unaware of the brand.
- Video Ads
Google Video Ads are mainly used to increase the reach and engage with a wide range of audiences on YouTube and through Google video partners. With video ads, one can use demographic targeting to more efficiently reach your audience.
Use of Social Media in increasing engagement among users.
The average time spent on Facebook by an individual is 35minutes. This gives real estate developers the opportunity to use Facebook as a medium for marketing their brands. Advertise on the Facebook platform with a choice of placements such as News Feed, Stories, Marketplace, Video Feeds, Right Column, In-Stream Videos, Search
According to FitSmallBusiness.com, only 14% of realtors are on Instagram. Whereas, 83% of all home buyers reported wanting pictures of properties online. Thus, realtors can drive awareness, increase customers and share the story of their brand amongst a highly engaged audience.
Twitter has become quite a great micro-blogging site that has proven to be a useful marketing tool for Real Estate marketing.
LinkedIn is a powerful medium to increase awareness and promote the brand among b2b profiles. Real estate developers can use the LinkedIn platform to connect with architects, interior designers, and many other professionals.
Trends in digital marketing of Real Estate
Real Estate marketing is a complex process due to the nitty-gritty attached to it. Properties are not something that people buy at any moment. There is a lot of thinking and research that goes on in the process. Thus, lead generation becomes a concern in this sector. Chatbots in real estate help in untwining the complexity. With a 24×7 availability of chatbots, it is easier for people to ask the basic queries they have regarding the properties. The more personalized touch the bot has the more chance of conversion of leads. Chatbots can help in lead generation at all levels of the sales funnel. From providing the potential buyers with basic information to set up a virtual tour, chatbots can do it all.
Augmented Reality (AR) works as a game-changer in the real estate business. It has open several doors for both sellers and buyers. By using AR, buyers of real estate can see the property before putting in the effort to actually travel there. Advancement AR has opened the door of opportunities by providing customized services along with a unique user experience. With AR, potential clients can also get a view of how their homes look after full-furnishing.
Generally, real estate transactions are conducted offline and in person with various entities. Blockchain has changed the way businesses do transactions in recent times. With the introduction of smart contracts in blockchain platforms, assets like real estate are tokenized and traded like cryptocurrencies like bitcoin and ether.
Need support with your real estate business? Get in touch with us at https://altois.com/ & we will help you achieve your goal.