“The best investment on Earth is Earth.”
– Louis Glickman, New York-based real estate investor and philanthropist.
The real estate sector is globally recognized as an economic powerhouse, generating billions of dollars of value each year and employing millions of people within its fold. It is the second-largest employment-providing sector in India. Data says that the real estate sector may grow over 30% in the next decade.
The population of India is growing fast. As a result, the demand for real estate is also increasing. A couple of decades ago, the process of purchasing a property was a long and tedious one. Only a limited number of options were available to people interested in buying real estate, especially home buyers. But there has been a drastic change in this trend. Now, the process has become easier and more user-oriented.
The digital shift has changed the way people buy property. The first touchpoint for any consumer, whether buying a mobile phone, a book or even property, is digital. An integrated study from the National Association of Realtors and Google reveals that 9 in 10 home buyers today rely on the internet as one of their primary research sources.
This study shows that unless you, as a real estate business, aren’t digital, the chances are that you won’t feature in the priority list of home buyers. This means that digital marketing is your best marketing strategy.
Digital marketing makes it easier for any property buyer to seek what they are looking for since the many modes of interaction help your property stay in the attention bandwidth of people who are searching for property. It has also become the prime mode to find the best property for any property seeker. The digital market is the finest platform to sell your estate with no effort and with less wastage of time.
Trust is a significant factor in any business. This is no different in the case of the real estate business too. The review from the customers is vital to build trust. Almost 90% of the home seekers search online during their home buying process, and this is not only mere searching but also looking for reviews by other customers. These reviews always influence their decision.
The pre-internet era was a period during which the buyers had to meet the realtors, spend time on discussion, and then go to visit and see the property. If the property did not attract the buyer, or if the property did not meet the needs of the buyer, he or she will have to wait until the next property which meets his/her requirements comes into the market and then again repeat the same process. This was a huge waste of time.
But in the era of digital marketing, the buyer can search for a property and filter the search based on their interest. They can view the photos and videos of the properties and then decide. As soon as any property which fits their requirements comes into the market, the potential buyer receives a notification. This will save the buyer’s time.
Before the period of digital marketing, the options from a specified region were only available. With the introduction of digital marketing, choices across the world are now available at the tip of our fingers. Today, digital marketing is making it easier for real estate investments by blurring geographical borders. Today, an individual can search for properties to buy in a city hundreds of miles away.
Videos increase the rate of conversion. According to Hubspot, videos tend to boost conversion by up to 80%. Videos have an effective influence on the buying decision of a potential customer and convert the audience.
In the case of marketing techniques other than digital marketing, tracking is difficult. We cannot access the data on how well each strategy converts. But in the case of digital marketing, tracking the performances can easily be accomplished by using marketing strategies like Pay Per Click (PPC). By keeping tabs on the performance, we can find what approach works, what doesn’t work, which platform is the traffic builder, etc., and tweak the strategy mid-way and in real time.
To succeed in this growing world, we should be capable to keep pace with developing technologies. Each and every one should maintain competency to succeed. To keep up with the competing world, here are some digital marketing tips.
Make sure that your content solves a problem or answers a question. Any content which you place in front of your customers must be engaging. This is helpful for both the search engine and the customer you are targeting. Convince and convert must be your motto for marketing in the digital field. This builds your reputation and also the traffic to your website.
Investing in SEO is a long term investment that always gives returns. The strength of SEO strategy determines your position in the search engine results. Always keep in mind that search engine algorithms change regularly. If not updated, you will be left alone at the bottom of the search engine results. SEO strategy can be made more fruitful by the use of the most used words users use to search online.
A successful and creative virtual tour will always help the buyer to choose what he wants. The virtual tour aids the process to be effective and effortless. The buyers get a clear picture of the property that the buyer aims to buy before spending time, money, and effort to go see it. Avoid digital illusions and make use of actual footage of the home so that your strategy convinces the customer.
With the growing population, growing demands for real estate, and less time to spend in this busy world, people always choose effortless and less time-consuming ways for making their life trouble-free. The future of every business, including the real estate business, is in digital marketing. With anything and everything available at the tip of their fingers, people will never choose conventional methods in the future. The current generation is born into a digital world. The future generation will be born into a digital world. In simpler words, digital marketing is the first and the only way for any realtor to await success. It is all about how well you install your strategy and how well you convert your audience.