Let’s face it, these days both buyers and sellers start their real estate journeys online. Whether it’s searching for listings or finding answers to real estate related questions, people head to the internet first and to an estate agent second. Internet is largely becoming a trusted medium for most of the required information. That’s why it’s more important than ever to integrate digital marketing into your real estate business in order to make sure that your business presence and your listings are what people find on the net.
Hence the need for digital marketing for real estate projects assumes even greater significance to have an advantage over the competition as well as to be in direct touch with potential buyers. The companies that don’t have an online presence or aren’t active on the internet in promoting their projects and engaging with prospective buyers will lose out in the battle of real estate supremacy.
Moreover, due to its extended reach, digital marketing for real estate is known to have shown a phenomenal increase in the number of leads almost by 300%, and property sellers now have opportunities to convert them as current buyers or as potential buyers for future projects. Since, buyers want a more personal buying experience on high monetary value purchases, they are increasingly getting inclined towards digital adverts online. B2B businesses or even real estate businesses selling higher value products achieve greater impact on branding and lead generation from digital marketing. This works good with real estate selling, where all the marketing is essentially directed towards generating leads, than on direct conversions.
Let me list down the factors enveloping real estate digital marketing, in the details for you.
First of all, why to have Digital Marketing campaigns?
With an estimated internet user base of 250 million people in 2014 and projected revenues for the total e-commerce business of approximately Rs. 1,00,000/- crs. by 2015, it makes a lot of sense to be present in the digital world in an aggressive way. The reason being it reduces the cost of marketing when compared to conventional mediums of marketing like TV, radio, print etc. and gives a higher return of investment. Also, the youth of the country as well as the NRIs are tech savvy and it is easier to engage them with this medium of marketing. A research states that the internet is influencing real estate purchases worth approximately $43 billion! It is important to tap this segment, which relies on clicking a mouse to fulfill their dreams! Also, the big real estate players have already started seeing the results of their digital marketing proving quite effective. For example, Tata Value Homes has already sold over a million sq ft (around 700 homes) of residential space online. Just imagine the potential!
Types of Digital Marketing
Franklin D. Roosevelt had once said, ‘Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.’
This is the kind of confidence the buyer needs from you that the investment in your project can be the best ever investment of their life. There are different ways of doing it with digital marketing. Chris Bogan, founder of New Marketing Labs says, ‘No Matter what, the very first piece of social media real estate I’d start with is a blog’. It is indeed a valid point, even endorsed by American author and entrepreneur when he says, ‘Marketing is no longer about the stuff that you make, but about the stories you tell’. Not only a blog or the presence on social networking sites like Twitter, Facebook or LinkedIn, it is important to explore all the facets of digital marketing. This includes marketing via emails, online referrals, and Google Search for Organic searches which have survived the tests of time.
In simple words, ‘Having a strong presence in all the channels of digital marketing is akin to using all five fingers of a hand for a firm grip; let go of any one finger and the grip loosens!’.
Upside of Real Estate Digital Marketing Campaign
The whole experience of connecting to a buyer online via various promotional and marketing campaigns is a very personal one. Middlemen are avoided and so is the need for the physical presence of a potential buyer at the project site. With technology, a 3D view of the flat or project can be shared with the viewer while he sits in the comforts of his home. All details about the project, the features, amenities, the look and feel of the project, the legal documentation, pricing etc. can be shared without any confusion leading to a more transparent and efficient dealing. This is a professional way of doing business, making the customer consider you as a serious player and creates a positive perception about the whole project in his mind. Not to mention, it also saves time as the customer can physically visit the site only after clearing all doubts and going through various options.
Downside of Real Estate Digital Marketing Campaign
Nothing is perfect and similarly the evolution of digital campaigns is still suffering from some bottlenecks; the major being proper implementation of such campaigns. If the information shared isn’t sufficient or not clear enough, consumers tend to feel that the real estate developer isn’t serious about the project and giving false or misleading information. The communication between the buyer and seller has to be prompt, or else buyer will go to someone else who listens to him and replies as well on a priority basis. The campaigns are still kind of fragmented and more focused on bringing the traffic to websites, rather than focusing on getting relevant people who can turn from potential leads to buyers.
Does Real Estate Digital Marketing Campaign Really Work?
Despite all the problems and the bit of confusions around the digital landscape of marketing, the bottom line is that digital campaigns are here to stay and are actually going to do wonders for the realty sector of the country. The point to be considered is how well thought out and implemented are the campaigns, keeping in mind the buyers’ needs. If they meet the requirements of a potential buyer in terms of ease of doing business, transparency, efficiency and comfort level, these campaigns can lead to contributing more than 50% of a developer’s business, without him going out physically to hunt for the prospective buyers!
If you need more specific information and expert advice on how Real Estate Digital Campaign can work for you, get in touch with me. Unless we discuss on a more productive level, we cannot make concrete plans.