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What is Digital Marketing in Real Estate?
Digital marketing has done wonders for the hospitality industry. Hotels, dorms, hostels, OYO, and Airbnb all work in digital mode, and they are super successful today. People now prefer making bookings online, pre-checking the hotel rooms, reading hotel reviews and customer experiences on the internet, and others before booking their rooms, but the real question is: is digital marketing a success in the real estate business? Buying a house or even renting one seems like a serious decision, so can customers trust the internet and make their decisions? There is a lot of fraud going on when it comes to real estate property deals, so can companies combat this and build a strong digital presence?
Today's article will explain why real estate businesses should go online and what factors they should consider in order to gain the trust of buyers.
Why Should Real Estate Businesses Explore and Excel in the Digital Marketing Domain?
Companies can just sit back and work in the traditional ways of marketing communications. They have to go digital, and the reasons to support this claim are −
Consumers are present on their screens for the majority of the hours − companies have to understand that consumers are surrounded by screens 24 hours a day, seven days a week. They are expected to keep a check on their phone, laptop, and TV to stay abreast of the world around them. The more time that they devote to the screen, the less time that they have for the traditional mediums of marketing communications. Now that no one is reading newspapers, what is the point of advertising your services in newspapers? The best place to advertise its brand and its service is social media since more than 4,7 billion people across the world are on social media and are active users. There are additional channels that we will discuss in greater detail later.
Consumers believe and trust online channels to make decisions − Consumers now have developed the habit of writing their thoughts or queries in the online world even before saying them out loud to themselves or others. Today, they are spoiled with information and convenience. In this scenario, companies must understand that they have to have an active online presence. Consumers will search about the place and the company before they execute any deal, and incomplete profiles or no presence are going to hamper the conversion ratio.
An online glimpse helps the customers in preliminary screening − There are many instances in which consumers as well as companies or real estate agents cannot understand each other’s needs. A lot of time gets wasted by showing the wrong places. In this scenario, giving the consumer a first glimpse of the place along with its facilities and price goes a long way. They can make their calculations in their heads by comparing and analyzing various parameters that seem important to them; for example, for some, a quiet neighborhood is crucial, but for others, connectivity is the main parameter.
It is a cost-effective and time-saving method for companies − All companies have real estate agents who show potential buyers houses around the neighborhood as per their preferences and budget. It is not just one or two places, but tons of them before converting one of them. With digital marketing, companies will be able to save a lot of time here, as the consumers will be able to do the preliminary screening and will only see the shortlisted ones. The conversion ratio for the real estate company is sure to bounce.
Tips and Tricks That Real Estate Agents Should Take Into Consideration While Going Digital
Create your own website − It is crucial for the company to have its own website. Consumers will demand a lot of pictures and information when it comes to selecting their living place. A website will also create a bond of trust and genuineness. What is going to distinguish you from the 50 other average real estate companies is your own quality website. Also, make sure that your website is mobile-friendly, and the user journey should also be given attention. The website should be easily accessible to all.
Add quality pictures of your listed place − There is no room for blurry, hazy, low-quality, bad angles, or incomplete pictures when you are in the online world and selling important things like real estate. Companies should heavily invest in clicking good pictures of the place, pictures of all the services that the place has to offer, and pictures of the neighborhood, and upload them online. They can create various sections for houses in different localities or the services of each real estate. Pictures should not be fake or too superficial. It should display what the place has to offer.
Advertise on social media − More than 4.7 billion people on this planet are present on social media. Social media is not only going to provide the company with a large customer base but will also ensure that it is targeting the right audience. Today, social media is blooming by leaps and bounds. Companies ranging from insurance and healthcare to fast-moving consumer goods today have an active presence on social media channels. Companies can organically, as well as through paid ads, advertise the different listings that they have and the services of their brand.
Companies can charge a fee for the users − since the real estate business works on the information. Companies have to be strict with that. To ensure that only real customers who are genuinely interested in the company’s services and are looking for a place to rent or own can be charged a first-time user fee as well as a monthly subscription for unlocking the information regarding the different places to let, This, in turn, will also ensure that consumers make a fast decision, as they would like to avoid the monthly or weekly fee.
Add in all the details regarding the place − To ensure that customers can make the right shortlisting, real estate companies have to ensure that all information regarding the place that will affect the consumer’s decision is available to them. For example, how many rooms are there in the house, the number of washrooms, transportation convenience, the mood of the locality, shops nearby, any schools or hospitals nearby, if there are any extra facilities like a jacuzzi, dishwashing machine, and others that are available with the place, the type and look of the furniture, the presence of a garden or balcony, and others.
We have now understood why it is important for companies to be present in the online world and, along with that, what could be certain factors that will help them create a bond with the customer and give them an edge over the competitors.
Companies in every industry have to understand that going digital is no longer an option that they can ignore but a mandate for their survival in the business world. Consumers are moving online, and they have to keep up the same pace to stay relevant. Going online will not only be cost-effective for the company but will also help it have a wider and better reach. Let’s go digital and explore as well as utilize all the opportunities that the digital world has to offer.
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