Digital Marketing for Real Estate with Real Estate Automation
Real Estate market is heavily dependent on intermediaries for demand fulfillment e.g. Brokers/Channel Partners/Direct Sales/Classified Sites etc. these intermediaries seem to have well-defined roles, where classifieds used to help through mid-funnel, Brokers gets benefited from the local networks, Channel partners used to bear the risk while lowering the cost, and direct sales used to help with the walk-ins and brand push.
The ecosystem has become ever complex
With digital marketing becoming more and more accessible, it is
breaking the barrier to reach customers now anyone with an Ad account sitting
in a corner room can reach to the customers wherever and whenever. With
barriers collapsing every other intermediary is encroaching upon each other’s
territory. Now anyone and everyone seem to be performing each other role.
Problem of Measurement
For long marketers used to believe “Half of the money spent on
marketing goes waste but we don’t know which half”. Digital marketing has given
the power of measuring Money to the penny level. And suddenly Marketer Realizes
it’s not 50% money that’s going waste but it is 95%. Since 95% of the users
coming to my website don’t take the desired action on my website.
With the realization, kicks in marketers become super
conservative and become overly obsessed with the conversion. And they forgot
the most important thing “Marketing”. More about Real Estate Automation
There are few problems with this approach one availability of
numbers (data) doesn’t mean the practicality of the data, so we need to see
them in context. Second, all these numbers default to the last touch-based
attribution leaving all upper funnel and non-touch based channels without any
credit.
“Mike was researching for property to buy on the classified
portal while he was going through various projects details he comes across a
banner ad for a new project coming up in vicinity to the area he was
considering. He went through the project details and compared with other
projects he was considering. Later that week while he was sitting with his
friends he discussed the properties he has shortlisted, after taking all
feedback next he went on Google search and search for the project, found one
project website and dropped a lead for enquiry.
Continued focus on the last touch-based attribution would result
in activities (intermediaries) becoming more focused on driving last-mile
conversion making funnel leaner.
Acquisition
Awareness: This is an introduction stage where brand introduces
itself to the prospect. At this stage user don’t know about the value of your
project, focus here should be on showing the value of your project or service.
Idea is to build trust and relationship.
Consideration
Interest: Once the introduction is done has been established
prospect become interested in the product, they want to know more about the
brand, their achievements, past performance, etc. The brand should ensure they
have enough authoritative content sponsored by industry peers or experts to
build trust further and nurture relationships. Online portals/experts reviewing
product can be considered for a specific solution. More about Facebook Marketing For Real Estate
Desire: At this stage, prospects is actively a brand’s product or
services. At the same time they comparing other products and services
preferably on Aggregator/Websites/Forums collecting more information to work
out their decision. This is an opportunity for marketers to make a strong case
for why their product is the best choice for a buyer. Up until this stage they
had very low intent with respect to dropping a lead or getting involved with
the brand on a 1-1 basis. But each of the earlier steps helped in shaping
his/her decision.
Conversion
Action: After going through earlier 3 stages now prospect is
ready to make his decision. He/She is actively looking to make connections with
the brand by searching, dropping leads, making site-visits before finally
converting. Typically, marketing and sales should work together closely to
nurture the decision-making process and convince the buyer that their brand’s
product is the best choice.
Marketing Cliché
While I took you through the schooling of marketing Funnel Cliché, Important aspect I wanted to
highlight was that by focusing on the last touch-based attribution we end up
losing the sight of our customer journey were limited by technology we chose to
ignore the impact of the process.
By having a hard focus on singular KPI for all marketing channels
by ignoring their roles in the conversion funnel we are leaving a lot on the
table. Prospect Funnel is becoming thinner, and we are seeing inflationary
impact where too much of resources going for too few prospects. When we skip
important steps we also see a drop in lead quality as well.
“Ramesh filled a lead for Project Rainbow, while he went home his
wife told him that one of her friend’s relative had also purchased the flat
from the same builder but they aren’t at all happy with the product, Ramesh
went online to do more research about the same but he couldn’t find any
authoritative content about their past or new projects no agency review/rating,
etc., all he finds customer complaints. So when Builder calls Ramesh to
follow-up on site-visit he politely declines”
web: https://dripflow.io/
automation for real estate agents
social link
https://moztw.hackpad.tw/What-are-the-4-Ps-of-marketing-in-real-estate-YNOm94GnJWI
https://telegra.ph/Is-real-estate-considered-marketing-03-02
https://anotepad.com/note/read/tspg56mq
https://docs.google.com/document/d/1tNltaKHvjEKBUJBp4S3eboIS10-bOrr10u5k5Ce357c/edit?usp=sharing
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