Is investing in digital and creative mandates important for the real estate industry? In a technology-driven era, this is an oxymoron. Regardless of how the industry operated recently, the increasing speed of communication over the digital medium means that agents can only ignore it at their own risk. Repeated studies and anecdotal evidence suggest that potential customers are much more likely to view the viewing and convert it into a sale once they’ve seen the property on digital media.
As with almost any other purchase, and especially with important purchasing decisions like real estate, most people do their first homework online. Even in a traditional market like India, buyers search for their selections, explore options, and do extensive research. Word of mouth is no longer the preferred way to get informed. In such a situation, agents who are not yet digitally engaged have to ask themselves whether they are doing justice to themselves.
Mobile marketing and video marketing, whether on laptops, desktops or especially mobile, are proving to be the most effective way of communication, especially for younger buyers like Millennials and Gen Zee. According to the US marketing and sales platform Hubspot, landing pages with video tend to increase conversion by up to 80 percent. Video content is increasingly ranked higher, which in turn is pushed higher in search engines and only helps to attract more attention.
In addition, in contrast to a print ad or a hoarding, it is possible to track the level of engagement in the digital space. This helps each agent quickly understand what is working when communicating with the customer. With every click that is tracked, it is possible to understand so many metrics – geography, where the clicks come from, what works in the communication or marketing campaign, and most importantly, what you can change.
In contrast to a physical ad or a banner, which is viewed purely by chance, another advantage of digital marketing is the targeted addressing of the desired customers. Using tools like paid ads or finding specific locations can make a successful business a lot easier.
The digital presence also facilitates engagement. As customer feedback becomes increasingly important, getting cheap reviews builds trust and builds long-term credibility with other potential customers. It’s hard to overestimate the importance of trust in the real estate sector, where authentic, neutral reviews can instill more trust than bundles of leaflets promoting a listing. Tools like email marketing, pay-per-click advertising, an interactive website, chatbots, and virtual tours are also critical to standing out.
The online medium has proven to be much more flexible and offers digital marketers much more creative freedom. Thinking outside the box is not just expectation, ideas that go beyond the box also tend to attract more viewers.
Digital marketing drives brand awareness and helps create unique content that will help real estate agents and brands stand out in an increasingly dense space. Can you afford to ignore that?
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