Marketing in real estate: what features of the segment should be considered
The real estate market has its own peculiarities, the main one being the long transaction cycle. Such a purchase requires the consumer to consider many factors, so making a decision takes quite a long time. Real estate marketing should be based on understanding such nuances – not only to attract leads but also to retain them.
For real estate developers, brand promotion is an important consideration, as it will help to build a high level of trust from buyers. Moreover, without building a positive image of the company, the use of performance channels will not be effective enough. This is especially important to consider when launching a project.
Digital marketing techniques for the real estate market work differently than in other business sectors. Here, in order for a person to make a purchase, it is necessary to go through a large number of stages: consultation, an inspection of the object, comparison of information, and others. For example, when acquiring luxury real estate, the process of concluding a deal can take about a year.
In this area, it is difficult to evaluate the effectiveness of the promotion. The result can only be obtained by analyzing intermediate conversions – the number of leads and calls. To understand how effective the advertising campaign is, you can only understand in the long term.
Experts note that the promotion of developers is important to respond quickly to changing market trends. Changes in exchange rates, economic indicators, political factors – all these factors shape supply and demand for real estate. Marketers must be prepared to adjust creatives, change items in the promotion strategy, and price offerings.
As for any company, when creating a media plan for a developer, it is important to primarily take into account the customer’s goals and the specifics of their product. Each developer is characterized by a different target lead, which means its cost will be different. For promotion, it is also necessary to take into account the class of the property, its price, and the stage of construction. All these features affect the projections and the target audience. For example, the purchase under construction is more typical for risky people and those who do not want to overpay. But those who buy ready-made housing, are ready to pay more and want to move into an apartment or house sooner.
An excellent option for promoting a builder is 3D tours and virtual interior planners. Various chat-bots and means of communication with clients via the Internet show good results. More and more companies prefer online promotion. Now developers spend on digital tools 50-80% of the total budget of the marketing campaign. Contextual advertising is considered the most popular option, it takes more than 60% of the total search traffic on real estate sites. Targeting advertising, and promotion in social networks and classifieds show good results.