The society we live in today has been termed a global village with half of the world population – 4.66 billion active internet users. The world is more connected than ever because of the internet. Thus, many individuals and businesses are turning to google adverts to resolve their problems and make their lives better. The real estate industry is no exception.
The digital revolution can be defined as the advancement of technology use from analogue systems to digital systems. The digital revolution began in the 1980s with the advent of the internet, the World Wide Web and digital devices. Digitization has brought about easier communication, more access to people across the globe, the vast body of useful information etc.
This allows companies to meet and interact with clients online. Clients are attended to at the comfort of their homes while companies spend less time to provide exactly what they need due to automated processes.
According to the national association of realtors survey in 2019, 22% of home buyers read newspaper ads to look for homes in 1981. 8% asked friends and family. But in 2018, 44% checked online before anything else. This shows a major shift in how people relate to real estate companies.
Potential clients want to carry out their research before anything else. The source for information using their digital devices – mobile phones being the most common device used. Any real estate company that seeks to increase revenue at this time would have to meet their clients halfway. And this would mean more utilization of the digital world.
The influence of digital marketing in the real estate industry
Digital marketing is also known as online marketing. It involves the use of the internet and other digital tools to promote products and services and connect with prospective customers. Digital marketing is becoming more prevalent because many people are following technological trends. The internet cannot be divorced from people’s lives. Many people now prefer to shop online and get products delivered to them.
In the past years, real estate businesses only used traditional channels to advertise their properties. Realtors have found a way to incorporate digital marketing into their business. This has helped the real estate business to reach more target audiences who are willing to buy.
The use of virtual reality tours has enabled prospects to buy properties without seeing them physically. This increased during the pandemic as many people could not travel around to view properties. But virtual tours helped the real estate industry make more sales while providing customers with more value.
Payments for properties used to be made physically or through banks. However, Blockchain technology has created decentralized platforms where real estate transactions can take place. An example of such a platform is ATLANT.
Why real estate businesses should leverage digital marketing
Real estate businesses have been more analogue in the past, employing traditional methods of marketing. However, it has been observed that digital marketing changes the way business works for both the companies and clients. Below are some reasons why real estate businesses should leverage digital marketing:
- It allows you to reach a targeted audience with a specific message.
Traditional marketing methods like an advertisement in newspaper, TV, posters etc. can be seen by anyone. These are mass communication tools that will reach a lot of people. But you have no control over who you would like to address specifically. You cannot ascertain if your potential client will see these advertisement channels.
However, digital marketing helps you define a specific audience to which you can send a personalized message. When you have identified the group of people you can sell to, then you constantly improve your marketing strategy so that you can reach them more. This increases the rate of conversion which is evident in your revenue.
- You can track performance and view results
It is hard to tell which marketing channel yielded which result in traditional methods. But digital marketing makes it easier to track performance. You can get an in-depth analysis of any type of digital marketing you choose to employ.
For instance, website analytics software and apps, allow you to see how your website is faring. It tracks down information such as:
- Those who visited your homepage,
- Where they came from,
- Who clicked an advert on your site,
- How much time they spent
- What device they used, etc.
This knowledge enables you to estimate what digital marketing methods to give priority to per time.
- You can take advantage of search engines
More people are looking online for properties than at any time in history. It is only reasonable to take advantage of this. The first contact prospective home buyers would have with any real estate company via a search engine is a website. You want to have a website that is well-suited for your clients.
Your website should load fast and be responsive. A slow website can make you lose a prospect and you don’t want this to happen. According to a Google study, 53 per cent of mobile site visitors leave a page that takes more than 3 seconds to load.
An organized and user-friendly website is also very important. You want to convert any visitor to a buyer. Therefore, your website should be arranged in such a way that they leave better informed and not confused. They should also be able to navigate the site well without frustration.
- Digital marketing allows brand credibility
Digital marketing helps you build an authentic online presence. This can be done through reviews from satisfied customers. According to the local consumer review survey 2020, 87% of consumers read online reviews for local businesses. This implies that people trust reviews and this greatly influences their buying decisions.
When you deliver well to your clients, they give good reviews that convince prospective buyers. The prospects buy and give more reviews and the cycle continues until your brand builds a solid reputation.
- It allows your creativity to shine
Digital marketing affords you the freedom to be your creative self. You have more control now. So you can tweak some things to give them a creative edge. Your website design, blog posts, social media content do not have to be monotonous.
Digital Marketing Indices For Real Estate Businesses
It is not enough to know the wonders digital marketing can do for your real estate businesses, that is why we have gone further to show you just how you can leverage on digital marketing. Below the best digital marketing solutions for the real estate businesses:
- Email Marketing
Email marketing is a one-on-one kind of marketing. You are able to build a relationship that transcends professional to intimate over time. Email is personal to people and there are no other posts seeking their attention as they read through.
When prospective home buyers sign up to your email list, they have been given the opportunity to educate them. As you drop valuable content in their inbox, they start to see you as an expert in your field. Email marketing platforms real estate businesses can use are Mailchimp, AWeber, Sendiblue etc.
- User-friendly website
A real estate business must have a user-friendly website. It should be easy to navigate and be responsive.
Prospective homebuyers who visit your website have questions they want to ask. Realtor’s can attend to everyone at the same time. This is where chatbots come in handy. Chatbots are automated conversational systems that simulate human conversation style.
- Pay-per-click advertising
This is a form of digital marketing that allows you to run google adverts through search engine result pages (SERPs) and other websites. Just as the name implies, you only pay when prospects click and view your website. This is cost-effective and produces more revenue.
- Valuable Blog Content
Your real estate website should have a blog where you dish out valuable content per time. The kind of content you post on your blog will determine how prospects see your brand. Good content lets them see you as an authority figure that can be trusted. This kind of content also educates them until they finally make the decision to buy.
- Virtual Tours
Virtual tours enable prospects to check a property remotely. From the comfort of their couch, a prospective home buyer can navigate the house and see every detail. This reduces transportation costs of going to check the house. It also consumes less time for both the prospect and the realtor.
Prospective customers are more likely to trust your company and make their decision after using virtual reality tours.
- Social media marketing strategy
According to global social media stats, it was estimated that at the beginning of 2021, 53.6% per cent of the total world population use social media.
Real estate companies can utilize this to their benefit. There are different people on the internet but a strategic approach would let you reach your target audience. The kind of social media platforms you use will be determined by your target audience.
Facebook pages allow you to interact more with prospects and run targeted ads. Instagram can be used to share pictures and videos of properties. Pinterest can also be used to share pins of the blog post, pictures of properties etc. However, you need to adopt a strong social media marketing strategy.
- Webinar hosting
Hosting webinars can lead to more revenue. It is almost certain that those who attend the seminar are interested in buying a property. Therefore webinars are opportunities to educate and guide them in making the right decision. You can also build an email list from attendees and follow up on them.
- Influencer Marketing
This is a kind of marketing where you employ a social media influencer in your niche to promote your service or products for you. These influencers have a large following that is your target audience. All you do is pay them to promote your brand.
A 2019 survey of marketers by Mediakix says that 89% of marketers across all industries said that they had better or equivalent ROI from influencer marketing when compared to other channels.
Digital marketing for real estate businesses does require attention, sound knowledge and dedication. But it is always worth the effort. And it is evident in the company’s revenue. Before adopting any digital marketing strategy, it is important to define and understand your objectives and how you intend to achieve them.
At Deyo Digital we provide you digital marketing services i.e. Google adverts that turn tactics into strategies and strategies into meaningful ROI. If this interest you, please proceed to get a free SEO audit