Marketing real estate online is known to have shown a phenomenal increase in the number of leads(by~ 300%*) that property sellers have opportunities to convert as current buyers or as potential buyers for future projects. Since, buyers want a more personal buying experience on high monetary value purchases, B2B businesses or even businesses selling higher value products achieve greater impact on branding and lead generation from marketing than directly on sales. This is true to real estate selling, where all the marketing is directed towards generating leads, than on direct conversion
Lifestyle patterns of Key Demographic segments: Property buyers are now relying more on online, than on newspapers and other mediums to gather any information that can help make their purchase decision. This a definitely a true phenomenon when it comes to the metro cities where the target buyers are all hooked on to their smart phones, laptops and tablets. It’s more the “Pull marketing” than the push that seems to be working for this new generation of home buyers.
Cost Effective: Most of the push marketing strategies such as “full- page” advertisements in newspapers, previews in TV and advertising in movie halls cost a lot of advertising rupees. Although they do capture some mindshare and help in brand awareness, they completely fail in executing an immediate “call-to-action”. Also, there are no clear measurable outcomes of the advertising money spent, to keep the ROI to the optimum. Online marketing strategies on the other hand, are more cost effective- they are both targeted and measurable. Both social media outreach and online paid adds reach the right category of target audience- age group, tastes, geography etc. with a dual intent of creating brand awareness and driving prospective buyers to make inquiries
Branding Online is Personal: Reaching out to the target buyers and building an emotional connect on a one to one basis, especially when it involves high value purchases such as homes is imperative. social media serves as a potent channel where the prospective buyers can be educated about the brand, as well as guided through the process of purchasing a home. The emotional connect develops by having a mix of both formal and informal conversations with buyers, thereby creating a brand image that understands the sentiments of its buyers, rather than just hard selling the property
Burgeoning Third Party Platforms in Real Estate Domain: There are various third party platforms today that cater to helping the property buyers and sellers to make prudent purchase decisions by facilitating comparisons or serving as one-stop shop for educating the buyers and sellers about the various trends, pricing and newer developments in the domain. To name a few of them- Magic bricks, 99 acres, India Property, housing.com, etc. Integrating existing robust digital presence (website & landing pages), including an active social media presence with third party platforms, is making conversions much faster and easier.
Measurable conversions: Digital marketing allows to measure the value derived from each peny spent on the advertisements and on digital assets such as websites and landing pages. The key / basic three measures are
An uplift in the first two measures is indicative of the success of the digital campaign and the last measure “Path of traffic” allows to understand where the targets are arriving coming from. This measure allows modifying and enhancing marketing plans to achieve maximum ROI.
* Results from Digital Marketing Activities of Social Beat Client
Sonakshi2016-01-12 < Reply
Thanks for the informative post! Digital marketing is truly big part of the future of real estate.
P Thomas2015-07-22 < Reply
What are your suggestions for a real estate giant with a well-performing website but zero social media activity to promote their upcoming project online? As in, what social media or digital marketing efforts can they pursue to drive results?
Social Beat2015-07-25 < Reply
Hi Thomas, Thanks for reaching out to us. A holistic approach is required for online marketing to achieve outstanding results. Social media is an essential piece to build the brand. You can read more about our digital marketing strategies for Real Estate Sector at https://www.socialbeat.in//tag/real-estate/
Afsar Ali2015-01-15 < Reply
Thanks for sharing your inputs on how to leverage digital media for real estate. It is a competitive space and I think real estate developers in India are starting to see the returns via online. Its a great medium to build the brand apart from lead generation.
Rafeeq2014-12-01 < Reply
Nice Article !!! An eye opener for Mid sized real estate business who struggle to generate leads & reach out to target audience group.
Social Beat2014-12-01 < Reply
Thanks for your Kind Comments. We have indeed seen mid sized real estate too benefit from digital marketing. Given the lower marketing costs compared to press and other traditional mediums, it does have better ROI