It is not news that real estate is electrifyingly competitive. Nor that the market has undergone profound changes since the dawn of digital, further accelerated by the pandemic.
When it comes to marketing the industry employs a host of strategies to get buyers to sign on the dotted line, however as with the most things, the question that must be asked is that do these strategies remain effective and is the industry moves ahead with the times?
“The property developer needs to adapt to market changes by expanding their traditional marketing territory, looking outside their normal geographic area, as well as, finding areas where people are still considering buying,” according to Yvonne MA, managing director of Eighty20. “To thrive through a down market, you have to be creative, resourceful, and open to new ideas. It’s time to rethink the marketing playbook now and then, and embrace the changes.’
As multiple award recipients in 2022 at MARKETING-INTERACTIVE’s Agency of the Year, DigiZ and MARKies Awards, Eighty20 has carved a niche for itself helping the real estate industry better leverage its marketing potential. Showcasing clients like New World Development, Sino Land, MTR, ChinaChem Group, KWG Group, and Savills Eighty20 helps drive their content and digital footprints.
Here are three marketing strategies for the best acquisition, conversion and optimisation in real estate.
1. LinkedIn inbound and outbound marketing
LinkedIn has grown to be a powerful platform in the digital space. You might think of it more as a B2B space but the 830 million users in over 200 countries the platform hosts are all consumers too. Moreover, only 1% of those users generate content leaving a big gap with little competion.
More importantly it has the eyes of powerful high net worth individuals. While Linkedin allows you to filter your network by job title – CEO, VP, Director – it also allows you to filer by company size. This gives unparalleled opportunity to market luxury property to the most qualified buyers.
Linkedin’s ability to still drive organic reach sets it apart from its other social media competitors. The right post can easily reach thousands of eyeballs offering the chance to curate an audience and indeed a network of potential future leads.
Combining inbound traffic through regular organic content that drives awareness to your brand by optimising your profile and outbound strategies of honing in on a target and proactively reaching out to potential leads is one of the most powerful weapons a brand could use in its marketing arsenal.
2. Leverage Social Monitoring Tools Effectively
Nine out of 10 consumers will buy from brands that they follow on social media, according to data platform Sprout’s Social’s 2021 index. Moreover, 86% said they will choose that brand over a competitor. Around 85% of consumers said they will buy from that brand more often. Brands are going to have to compete for attention more than ever before as consumers become increasingly comfortable making purchases through social media.
Although brands use social listening and monitoring tools, they haven’t fully leveraged the potential locked in the data they’re gathering. The analytics they are gathering should be clearly articulated into a social media strategy that demonstrates an understanding of what potential customers’ want and need.
Use the tools at your disposal to not only listen but respond. Social media monitoring tools can help you tweak existing products, add features or resolve problems faced by your customers.
3. Hyper-categorise your audience via dynamic and precise online targeting in different phases
This can be done via your target audiences’ interests, life stages and browsing history on various digital touchpoints such as social platforms, websites and APPs – which could drastically increase the chances to acquire and retain your target audiences to engage on your campaign. And target your personalised content in real time.
Creating target segment groups, allows for micro targeted messages. For example, investors will naturally have different interests in a property to that of a family. Think about how to dig out these target customers using online browsing behaviour and, the social communities they belong to from not only social media platforms but messaging apps and location based advertising.
This will help boost response rates and generate profitable leads to showcase your unique selling points in the digital space.
This article was done in collaboration with Eighty20.