With changing times, customer preferences have changed as well. What they used to like last year might not be their preference anymore. This change has come even more swiftly in the Real estate sector due to Covid 19.
Companies that stuck to traditional marketing suffered during the lockdown. They were using conventional sales & marketing processes to entice new customers, which isn’t a valid proposition in the current digital-first generation.
Real Estate businesses have been using traditional marketing methods such as tv, print and hoardings for decades with astounding success. With the turn of the century, using it has become more of a challenge than a solution. Although traditional marketing will not be out of vogue completely, digital and omnichannel marketing techniques should be explored for a 360-degree approach.
The results of traditional marketing have been subpar at best. Couple that with longer turnaround times in customer acquisition, and one might wonder if traditional marketing still has a place for the real estate industry today.
One of the biggest challenges of traditional marketing is that it does not appeal too much to the younger generation. They are technologically savvy and prefer to use the digital medium for all communications and find hoardings on roads off-putting.
Where traditional marketing fails, digital marketing prevails. The arrival of mobile technology and easy internet accessibility has helped digital marketing evolve beyond expected. It is cost-effective and allows Developers to target prospective buyers and sellers with customised messages for different target groups; something which is difficult in traditional marketing.
Here are 5 top challenges of traditional marketing and how digital marketing can overcome them:
Buying a home is a time-consuming process, and traditional methods only make it longer. Interaction between Developers and homebuyers might not always take place due to the unavailability of either party, which can drag on the overall sales journey.
Digital marketing tools can change the game. Various digital marketing tools available in the market help gather relevant info in a database, automate follow-up emails, and give a virtual tour of the property saving time. An exclusive Real Estate CRM like Sell.Do can reduce the total time of the overall sales process by half and increase productivity and customer satisfaction.
- Sales Qualified Lead generation
Generating leads for Real Estate is quite different than other B2C markets. The physical mode of interaction makes it difficult for Developers and their sales team to reach out and manage increasing client lists and nurture leads effectively. With digital marketing, lead generation and management have become much easier.
Some effective ways of digital lead generation are:
- Email Campaign: Through a strategic email campaign, Developers can entice buyers to the latest market and share all the relevant information through a digital medium depending on the pipeline stage they are at.
- Use social media: Social media is the best medium in marketing that helps share attractive features in homes on the market. With digital advertising on Facebook and Google ads, you can reach customers in different parts of the world. Also, you can measure the success of social media easily with data.
- Quantified Metrics: Digital mediums allow marketers to precisely target ads as per various TG groups, along with accurately analysing the results of those ads via quantified metrics on leads generated and conversions.
- Extending sales outreach with Channel Partners and Brokers
With digital marketing, you can employ strategies such as collaborating with Channel Partners and Brokers. By associating with them, you will be able to increase your sales activity, open new avenues for lead gen, and capture opportunities which you might not have been aware of.
Through an exclusive CRM for Real Estate like Sell.Do, Developers can easily work together with Channel Partners.
The power of digital marketing cannot be ignored especially when you are a Real Estate Developer. Traditional marketing is expensive and has limited customer reach; while with digital marketing, the sky's the limit. Digital marketing has proven itself as a smart & comprehensive approach to traditional marketing.
So, if you are a Developer who wants to jump onto the digital bandwagon, contact Sell.Do for an exclusive CRM in Real Estate industry. Our software will give you an edge over your competitors and help you transition smoothly to digital marketing and virtual sales. The Real Estate CRM offers seamless backend support to digital marketing tools and methodology and helps you grow your business to a newer horizon.