As businesses, we’ve learned a lot about our ability to adapt to changing circumstances over the last few months.
Lockdowns and industry restrictions have forced us – or maybe helped us – to rethink the way we do things. Every few years, marketing changes in real estate, and we feel strongly we are at just such a juncture. When the large majority of campaign costs are already allocated, possibly out of habit, it might be time to rethink your marketing schedule, be aware of alternative solutions and, perhaps improve your outcomes in the process.
At Campaigntrack, we see lots of data and trends within property marketing campaigns that flow through our platform. One of the unmistakable trends is the steady decline of print advertising, countered by a growing reliance on the major real estate portals. It makes sense: the portals are incredibly useful marketing tools and a major source of leads. But they’re not the only tools at your disposal, and taking a broader approach to your digital marketing might deliver even better value.
The key benefit of the portals is that buyers are familiar with them; they’re often amongst the first points of contact for home seekers. Being catalogues with simple filtering, it’s also quick and easy to find relevant search results. The missed opportunity, however, is that they are designed to cater to those buyers actively searching for property, and they are not designed to promote and highlight your brand exclusively.
It’s important to consider that passive buyers, who make up a substantial portion of the buyer market, are not scrolling through portal listings – you need to reach them through other channels.
It’s also important to remember, especially with the decline of print, that real estate agencies and agents have lost an important branding channel. Enter digital marketing, a mix of online display ads, social media marketing and search ads… A solution designed to not only find passive, as well as active, buyers in your area – but also with the power to build your brand and reputation online. Did we mention it can also help you find out of area buyers that portals can’t reach?
Upgrades to your portal listings can be a good way to make your listings more prominent, although the effectiveness might be lessened with so many agents using them. The question is whether your marketing dollars are best spent on upgrades or in other parts of your campaign. Sometimes it’s easier to operate out of habit rather than design, but there are always different ways to achieve great results – and maybe even lower your marketing campaign costs to give you a competitive advantage.
Campaigntrack’s AIM digital campaigns are engineered to generate not just listing awareness but also brand awareness, with hundreds of thousands of locally delivered Facebook and Google Display ads. These ads put your brand and listings front and centre while people spend 20+ hours per week online.
Of course it’s all about balance. You need to find the value in each marketing tool you have available to create the most effective campaigns for your clients. As an example, many suburbs around Australia have one portal delivering most of the portal leads, so it may be more worth considering upgrading the main portal only – reinvesting the saved money elsewhere in your marketing schedule.
AIM’s more comprehensive digital marketing packages can also be a good way to generate more return on investment, delivering immense volumes of display ads, and potentially reaching both out-of-area and passive buyers. These custom digital campaigns let you showcase your brand more easily; they deliver ad clicks to your own website; and they allow you to build your own retargeting and data audiences.
When money is tight, it’s important to determine where your budget is best spent; how can you maximise reach, engagement and follow-through? Campaigntrack’s suite of digital tools could help you generate more firepower for less cost. Imagine that.
If you’re thinking about how you can reinvent your marketing strategy, we’d love to talk. Find out more about AIM or get in touch with us at email@example.com. It’s the way to get ahead.