90% of homebuyers search online during their home-buying process.
Shoppers will perform an average of 11 searches prior to taking action on a real estate site.
As investors in the market become more digitally aware and experienced, developers, agents and their marketing agencies have the opportunity to take advantage of sales channels, revolutionising the way business is done in the industry. By analysing trends and shifts in digital marketing technologies, you can build stronger connections with buyers, build significant competitive advantage and ultimately, increase your property sales.
New technologies are disrupting the predefined rules, and there are 3 rules you can prosper from if you use them in your marketing strategy.
- The changing behaviour of the key players in the industry
The very process of buying is much different than it was traditionally. Property developers pay much more attention to marketing and invest more in placing their properties online. Agents nowadays are making use of technology and data to send out personalized messages to attain buyers, and properly place marketing messages through the right channels. Buyers are much more invested in the process, and they do their research via various new channels. Agencies on the other hand are very proactive in finding means and creating engaging campaigns that are delivered to prospective clients through several different devices and platforms.
All these new trends indicate a huge shift in how property will be marketed and sold in the coming years. They can help you choose how to market your properties and more importantly – where.
- The ‘Direct-to-seller’ trend is growing rapidly
Homeowners and buyers are increasingly opting for direct sales, saving money in the process. They are using social media, forums, and all types of social shares in order to market their own property. As a matter of fact, 10% of traffic to real estate sites come from social media, and 98% of social media traffic leading to real estate sites comes from Facebook. It’s a trend that continues to grow because these platforms are free to use, they can only save buyers money, and help sellers sell their property faster. Developers should be aware of these shifts and utilize them to their own advantage.
- The ever-changing world of advertising
The market has shifted and so have the ways of product placement, and in this case, it’s the property listings. Digital channels play an increasingly important in influencing homebuyer decisions, but should also be used along with traditional tactics such as brochures and signage. To keep up with competitors, or even set yourself apart from them, it is highly beneficial for you to make use of digital tools and have a strong online presence. Agents are still a crucial part of the sales process. You as a developer can create a strategy that works hand in hand with theirs and complement each other. If all channels work in unison, have the same goal and are directed to a right course, you can synergistically achieve your goals.
Invest in your own platform and online presence. It can actually save you money on the long run, as opposed to the traditional means of marketing. Use, to the fullest extent, your email database, be proactive in generating new leads, placing interesting and informational content, build up your search engine ranking and provide home-buyers what they actually need and actively search for – knowledge.
By shifting to digital, you will open the doors to customers who are already looking for a home and be able to target serious buyers. By directing your marketing strategy to target those who are more interested, you will save much more on general marketing methods than those that don’t provide as much ROI as digital does.
The home-Buying process today, from the buyer’s perspective
It’s important to know the process so that you can reach buyers and engage with them at key moments. Today, the majority of buyers are tech-savvy and utilize multiple channels, devices, platforms and even social media to form an opinion about agents, agencies, developers, and financing. First, they do their online research. As mentioned earlier, 90% of home buyers searched online during their homebuying process. They then start actively searching and visiting the properties. After that comes the very purchase and post-sale stage.
To sum it all up – engage your prospective clients. Build your own marketing channels and platforms, drive the demand, offer exclusive listings and create informative and sale-supportive content. Go digital, go big and go home – as a winner.