Real Estate Marketing Strategy: Channels for Effective Implementation
What is a real estate marketing strategy? And which real estate marketing channels bring effective results for businesses during the process? All these questions will be answered by Glints in the following article. Follow along to understand what real estate marketing is.
An overlook of real estate marketing industry
Real estate marketing is known as a type of marketing used in the real estate industry.
Through real estate marketing, service providers and product sellers develop specific strategies to meet customer desires and achieve the set profit goals.
Real estate is a unique industry, where the main activities involve property valuation and advertising. Therefore, to achieve sales targets, many employees engage in advertising and customer acquisition, tasks typically associated with marketing professionals.
Effective Steps in Using Real Estate Marketing Strategy
So, how do you increase the effectiveness of your real estate business strategy? To achieve good results, businesses need to understand the real estate business strategies shared by BeatColor:
- 1. Research and Identify the Market and Target Customers
Researching and identifying the market and target customers are considered top priorities for increasing sales for your real estate project. Real estate agents and businesses should focus on the target market that aligns with their real estate projects to achieve the best business results.
This also helps in generating ideas for the tasks needed to reach your target customers more easily. Additionally, there should be plans to address market risks, especially proposing solutions suitable for competitors leading in the short and long term.
- 2. Define the Goals of the Real Estate Marketing Campaign
Before implementing a real estate marketing campaign, you need to clearly define the goals of the campaign. Only when you accurately determine the campaign’s goals can you provide specific directions for that campaign.
You should establish clear and specific campaigns, such as lead generation strategy, low-cost strategy, deep marketing strategy, and collaboration strategy with other partners. Based on the product you provide, you need to determine the goals of the real estate marketing campaign to achieve the highest results.
- 3. Develop a Real Estate Marketing Plan
Whether you are a real estate agent or a real estate developer, you will need a real estate development business plan for success and achieving expected revenue. This will help you succeed and achieve the expected revenue.
You can plan your budget, contingencies, and other risks with the help of a comprehensive real estate development business plan.
Many people fail when they work without such a plan. For example, you can plan your budget for your real estate marketing strategies for the next year with the help of a well-documented business plan.
- 4. Budget Planning
Another key factor in the successful expansion of your real estate business is developing a marketing budget and adhering to it.
There are hundreds of ways to spend your marketing budget, such as real estate websites, email marketing, social media marketing, and direct mail marketing. Budget planning depends on your target audience.
For example, customers in the San Francisco Bay Area may request internet-based marketing, while customers in rural areas may require a different approach.
- 5. Implement Each Step in the Plan
After completing the marketing plan for your business’s real estate product, the next step in the real estate marketing strategy is to implement each step according to the plan.
During the implementation of the plan, you need to observe market trends, business results from each communication channel, and customer needs.
- 6. Monitor, Measure, and Improve
The final step in the real estate marketing strategy is to monitor, observe, and measure the effectiveness of the strategy.
Observation and monitoring will help you make timely and flexible adjustments to maintain and improve the results of the real estate marketing strategy day by day.
Regular monitoring and adjustments help increase the effectiveness of the campaign.
It can be seen that for a successful campaign, you need to have real estate skills such as analysis, budget management, customer care, verbal and written communication, etc.
Eight Effective Real Estate Marketing Strategies
- 1. Email Marketing
Email marketing is considered one of the highly effective real estate marketing channels for many businesses today. It serves as a bridge to reach various customer groups. Email is easy to use and helps establish a connection between salespeople and potential customers.
Moreover, having a large email list helps businesses quickly find potential customers and reach them anytime, anywhere.
In simple terms, email marketing is a form of mass communication. It helps businesses spread the message of the project, while also getting closer to the target audience. This, in turn, helps increase revenue for the business.
- 2. Social Media
In the era of 4.0, the role of social media platforms is becoming increasingly important. Using real estate marketing tools, you can quickly promote products and services. Here are some social media platforms that help make your marketing campaign effective.
3. Create Groups and Fan Pages
In addition to using traditional media, you can go deeper by creating fan pages and business-specific groups.
Group members often share experiences, so you can take advantage of the opportunity to become an expert in real estate. You can share useful articles, actively advise, answer questions, comment, etc.
This way, you will reach and attract potential customers, introducing them to your offered products.
- 4. Real Estate Marketing through Word of Mouth
Promoting transactions through referrals from previous customers is considered one of the most effective real estate marketing methods.
Through word-of-mouth real estate marketing, new customers can easily choose the right real estate project through recommendations from their relatives or friends. This is also a way for businesses to boost sales and reach potential customers for their real estate projects.
- 5. Take Advantages of Chatbots
Chatbots are becoming increasingly popular and are being built in many business areas, including real estate. Customers often have many similar questions, so using a chatbot to respond automatically is both fast and effective in reaching and responding to customers. Look at an example from BeatColor using Epique.ai below:
Facebook Messenger chatbots are a familiar form. However, you can completely apply this form on other websites such as blogs, news, etc.
Read more: AI in Real Estate Photography
Read more: AI Tools for Real Estate Agents
By using post processing in your real estate in general or real estate photography marketing strategy in particular, you will help customers have a clearer and richer view.
For example, instead of presenting an unfinishing property image as before, you can provide customers with a 3D renovation so as to provide clients a clearer imagination and a more impressive view of both appearance and professionalism.
Another example of virtual dusk conversion image edited by BeatColor.
- 7. Video Advertising
In addition, you can use video shooting to PR your project. Although this method may be costly, using video is one of the current popular online marketing trends and is very effective.
In fact, projects filmed by video often attract inquiries from customers four times higher than normal. Therefore, do not hesitate to invest in video for real estate business, in particular, and other industries in general.
Increasing real estate sales for a business is a matter of great concern for many enterprises. And this is not something that happens overnight; it requires businesses to have a specific plan for their real estate marketing activities.
The above are the insights shared by BeatColor on real estate marketing. We hope that the information we’ve shared will be helpful to you in your business growing process.