Why Digital Marketing is Important for Real Estate Business?
In this digital world, digital marketing has gradually evolved as one of the most important marketing strategies for many businesses. Unfortunately, it is a fact that the strategy of digital marketing is underutilized in many Real Estate businesses. Instead, most Real Estate developers still choose the traditional marketing methods. There is only one thing that a real estate developer or manager has to concentrate on, i.e on selling the properties.
It is very important to study the market and its trends that belong to your industry especially in the case of Apartments or Villas. This is even more crucial For a luxurious product that is priced quite higher. In this luxury rental space, your market is influenced by the one who can afford your community. There was a time where these luxurious inventories were not concentrated as there was less competition. And at that time it might have been more than enough to just focus on the wealthy customers. But, in today’s world, you have to compete with more players.
As the market has become more and more saturated and complicated, the high-end real estate builders and developers, who provide luxurious space have to distinguish themselves from their competitors. As you know, not everyone has the money to afford a luxury apartment. Even if you provide more facilities and an aesthetic design, not all will be interested in buying a luxury apartment. Start researching the market trends now. This market research or study will help you in developing your own marketing plans and strategies.
It’s a known fact that we human beings are extremely dependent on the web for all kinds of buying processes. According to research, it has been revealed that the majority of buyers go online in search of a home or land. Without building your presence on the web, your business will be unknown to the online buyers and you are likely to lose sight of your business from your targeted buyers. In that case, your competitors who have built their presence on the web stand out and they are likely to get conversions.
Why Digital Marketing For Real Estate Business?
Most Real Estate developers do not know how to start a digital journey and they think online marketing is expensive. The real fact is that compared to traditional marketing which involves TV, radio broadcasts, printed advertisements, etc, online marketing seems to be cost-effective as it is a one-time investment. By marketing digitally, we can effectively figure out which strategy works and eliminate the strategy that doesn’t pay heed.
Understanding the market surrounding your community is important for every multifamily development, but for a high-priced luxury product, it is even more crucial. In the luxury rental space, your market is influenced by who can afford your community. In the past, when luxury inventory wasn’t as concentrated and competition was less of a factor, it might have been enough to just focus on appealing to wealthy individuals.
As this market becomes more saturated, high-end communities have a greater need to distinguish themselves from their competition. Not everyone who is capable of affording a luxury apartment is interested in one and not everyone interested in a luxury apartment in your area is going to care about your amenities and design aesthetic.
Start out your marketing process by researching your local market. The following market research questions will provide you with a great foundation to draw upon when developing your marketing plan.
Let’s explore how to dive into a digital marketing platform for a real estate business.
How to Brand the Real Estate Business
The website represents your brand, hence the initial step is to build a comprehensive website that plays a key role in turning the psyches of buyers to settle on a purchasing choice.
- Pick a domain name same as your business with a straightforward spelling which encourages client access easily.
- Pick a suitable web development platform and web hosting provider considering the website’s purpose
- Pick a template and logo which relates to your business.
In Digital Marketing: Why Website Optimization is Essential for Real Estate Business?
When a buyer types a word related to your business in the search engine, it is important to show up your website in the search results. It is vital to optimize your website SEO friendly to improve the chances of your website showing on the top page. Let’s explore a few SEO tactics to be implemented for your website.
- Identify the relevant keyword you have to center around to generate targeted and relevant traffic.
- Finalizing the keywords, you need to tune the meta tags of the site which incorporates meta title, meta description, alt labels.
- Take care that you don’t stuff the keywords. Shape a significant content, utilizing proper keywords which obviously renders your business to the buyers.
- It is important to link your web pages to help users navigate to different pages of your site
- Quality content which flawlessly renders about your business expands the web traffic, ranking and authority.
- Backlinks are a great way to boost ranking, however Google has propelled strict punishments against spammy backlinks, so ensure that you make bona fide backlinks to support your positioning.
- Add your business to Google listing with business name, organization profile, contact details etc to make your business visible online.
Devise Digital Marketing Strategy For Target Audience
Right before jumping to devise a lead generation strategy, it is important to know your market and target audience. Developing a marketing blueprint as mentioned below serves as a foundation for your real estate digital marketing strategy.
- Build up a purchaser profile
- Conduct surveys to know current market trends
- Devise an attractive marketing strategy to pull buyers
- Carry out a location based advertising
Active Presence On Social Media Platforms
Undoubtedly, Social media is an engaging platform to stay in contact with your potential targeted clients. Create engaging posts and make sure that you post at the right time so that you can gain utmost engagement. Always stay in touch with the customers as this builds trust among the clients publicly and your business stays in the top minds of the people.
For a luxury community, the best social platforms to advertise on our Facebook, Instagram, and YouTube. Ads created within these three platforms are highly visual which helps show off the artfully designed interiors and desirable amenities that luxury communities offer. The targeting options that exist in Facebook, Instagram, and YouTube are robust and offer communities the ability to zero in on the interests and behaviors of people in the luxury market.
Video content can help to showcase the appeal of a luxury community. Higher quality visual content gives the impression of a higher quality community.
Get Benefited Through Digital Marketing by Paid Advertising
PPC is a viable form of advertising that focuses solely on the targeted customers. A key to a fruitful campaign is keywords and a landing page. Choosing the right keywords and landing page with a proper call to action opens the door to success. While SEO is a moderate procedure, through PPC you can see speedy outcomes.
One of the best ways to reach your target market is to show up when they are actively searching for a luxury community in your area. To do this you need to make sure you are visible in the most popular search engine, Google. While there are ways to take advantage of free traffic in Google (registering your business with Google is one we highly recommend), most communities, especially those in competitive luxury markets, need paid search ads to keep their community at the top of the search engine.
Display Campaigns for Brand Awareness & Leads
Banner campaigns are one of the best forms of advertising to use when you need to scale your brand awareness efforts. These highly visual ads show up when someone in your target market browses a website with ad placements on their desktop, tablet, or mobile device. The main purpose of this form of advertising is to drive awareness of your brand, any concessions you are offering, and to visually communicate the most important value propositions of your community. This is a top-of-the-funnel marketing approach that works best in combination with other advertising methods. Our studies (and outside research) have shown banner ads lead to more organic google searching for your community.
Email Campaigns Still Works
Despite the fact that email marketing is not at the trend, still, it is considered as an effective digital marketing strategy as the customers check their mailbox at least once in a day and this aids your business to remain active in the minds of your targeted customers and there are chances of approaching you when they are in need.
Reap The Benefits Of Retargeting
Retargeting is an extremely effective Digital Marketing method for the Real Estate business as buying a Luxury Flat or Apartment is not an immediate process and it takes time to make a buying decision. Through retargeting, you can persist buyers with a constant reminder of why they visited your website in the first place when they surf the web and scrutinize their minds to make a buying decision.
We hold expertise in using video promotion for real estate sales and have reaped successful outcomes. Let’s look into the few video promotion techniques
- Post videos on property interiors and exteriors
- Post influencer’s reviews on your property
- Upcoming projects
- Useful tips for home buyers
A social share or a video review or a testimonial from a real estate professional or a popular web or video blogger has a great impact in driving sales in real estate. The simple psychology is that buyers believe that influencers do not share content without a proper cause and go for it easily.
Model A Mobile-friendly Website
60% of home buyers use mobile phones to search for their dream home or land. Even Google’s index has got a high priority to the mobile version and this has raised the need to model a mobile-friendly and responsive website.
Strengthen Inbound Leads by Digital Marketing
A successful digital marketing strategy ought to have the capacity to cultivate leads through every one of the channels. Inbound lead support includes top-to-the-bottom research of the focused audience and content building that tends to all the client inquiries. The picturized tactics ought to successfully convert the visitors into buyers.
Measure and Optimize Marketing Efforts
It is important to develop clarity around what you want to achieve with your marketing efforts. The campaigns and platforms you choose and the way you optimize them will in part be determined by the objectives you set at the beginning of your marketing strategy. As you run your luxury apartment marketing campaigns, you will want to keep track of metrics that will give you an indication of how you are performing towards your objectives.
We use the following metrics to determine the overall success of a comprehensive digital marketing campaign.
Paid Website Sessions
The objective of most ads is to deliver as much qualified traffic to a community’s website as possible. Website sessions in Google Analytics track the total number of website visits a campaign brings in. Luxury apartment marketing campaigns require a greater emphasis on the quality of leads than on the quantity. The market overall is smaller and the advertising approaches tend to be more targeted. Overall sessions is a great first metric to evaluate if your ads are bringing in website visitors but further analysis is required to determine if the traffic you are bringing in is qualified.
Some top-of-the-funnel awareness campaigns, Targeted Display, and YouTube, for example, aren’t as likely to bring website traffic directly from the ad but lead to people searching for a community after seeing the ad. Post views allow advertisers to measure the number of people who saw an ad and came through the site directly, or organically in Google.
Average Session Duration
This is a website session quality metric that allows you to see how long an average website visitor stays on your site. This metric can be evaluated on a campaign basis. Google Analytics lets you compare how different sources of traffic compare in their ability to bring in website visitors that stay on the site for a long time.
If a campaign that is conversion-focused is bringing in website visitors with a high bounce rate, that may be an indication that the campaign isn’t bringing in quality traffic. The bounce rate reflects the rate of people who visit a website and exit the site right away. One thing to look for with a luxury community is how high the bounce rate is on the floor plan page since that is where most communities present their pricing. If the bounce rate is too high, modifications can be made to your targeting to help bring in more qualified traffic.
Phone calls, contact forms submissions, application completions, and chat leads are all conversion metrics communities can track in Google Analytics to further evaluate the effectiveness of their marketing efforts.
Real Estate including Luxury Apartments. Flats. Villas: Digital Marketing campaigns are a living, breathing entity. The more you invest in Digital Marketing, the more you learn about what works best for your community. Over time, Digital Marketing channels and tactics may evolve but the core strategy of understanding your market fit, diversifying your marketing efforts, and utilizing targeting will help your community stand out in the Real Estate market for years to come.