Real Estate Development Marketing Strategy Implemented in 5 Easy Steps
In real estate development marketing has always been an essential element. However, times are changing and so are the marketing approaches and tools. Modern marketing is entirely analytics-driven. You analyze and make conclusions; then you apply what you’ve got to your strategy; you test the latter and use analysis again. It’s a cycle, and the information is its king.
However, as it too often turns out, real estate development marketing is stuck in the past where having a marketer on the board and a common marketing strategy was considered as a necessary minimum. It doesn’t work this way anymore. If you don’t know what your audience wants at this particular moment, it means you are continuously losing your clients.
In a modern world of real estate development, being competitive implies that you are continually analyzing your prospects and clients and applying property management tools to make this information “work” for you. So let’s take a look at how you can use real estate development marketing in a step-by-step fashion.
1. Analyze your audience
Let’s brainstorm a bit on what you need to know about your audience. You may want to know what kind of property people may be interested in, right? No, it’s a result. First, you need to have a full profile of your potential client, the one who will purchase the property.
Where does your potential client works? How does he like to spend his free time? Where would he go shopping? What are his hobbies? So many questions, right? But these are only sample ones to give you an idea – in fact; there is much more to ask yourself. (Not just yourself, though, but you may also need to conduct surveys and customer interviews to fill gaps in your knowledge).
The thing is that generations are changing, and the ways to catch up with their interests are changing entirely too. According to the Strauss–Howe generational theory, it happens every 20-25 years. So the only way to keep your real estate development marketing relevant is to continually monitor and stay tuned for all the changes in your audience.
Therefore, apart from technology-aware and resistant to sales pitches millennials, nowadays, you also need to keep your eye on the actively forming generation Z. They are Internet-oriented and can’t imagine their life without various gadgets. What should it tell you? That you need to keep pace with the changes and technology, in particular.
2. Power up your marketing with property development tools
No, it’s not something optional anymore. Let’s make it clear – the efficiency of real estate development marketing efforts is directly dependent on how good you are with technology. It may sound a bit scary as if it was something that requires additional knowledge. But it’s not!
In real estate development, client loss often happens because of two factors: the disorganized marketing side and insufficient analytics. However, nowadays these problems can be solved with ease just using proper tools, which makes even sadder the fact that many real estate developers don’t know about them.
In fact, one can already hardly imagine modern marketing without contact management tools, automated lead generation, easily accessible analytics insights, sufficient data security. And real estate isn’t an exception. Let’s look at how it works in action by the example of Propertymate services.
By using the property database and sales solutions, you can:
- Simplify and automate daily processes including contact and property management
- Get automatically generated leads and get rid of abundant manual work
- Match potential buyers with properties instantly with the help of AI
- Access real-time insights of property availability and CRM analytics
- Visualize sales process mapping
- Get reliable security for your contact information
- Easily integrate with ERP-systems
3. Find the right places to catch up with your audience
Knowing your audience implies that you are aware of what kind of content they consume and thus what kind of social media they prefer. Armed with this knowledge, you can develop a specific content marketing strategy to target each of your audience groups.
It’s not always that straightforward as you may think. For instance, it’s popular to put picturesque road banners close to business centers or shopping malls, considering that potential property buyers may see them while driving.
However, if you dig a bit deeper, you will find out that it’s more often than a couple decides on such purchases than a single person. In turn, women are more exposed to bright visuals. Therefore, you may want to analyze where women of your targeted audience may see it. As it turns out, they are also the most active users of Instagram.
That is where sponsored content comes in. Nowadays, it’s becoming more and more popular among advertising tools. (You might have seen a lot of it on Instagram.) That’s why here is the next hint for your real estate development marketing strategy: identify your niche influencers and opinion-makers and turn to them for spreading your content.
4. Use innovative technologies
First of all, don’t be afraid of them. Such complex (at first sight) terms as artificial intelligence, machine learning, big data services to simplify your life, not to make you endlessly wonder about them. Thanks to a growing market, it’s relatively easy to find specialists that can help you apply those highly efficient tools to the individual needs of your company and your real estate development marketing strategy, in particular.
Now you may think, sounds good but give me an example. Smart virtual assistants, virtual and augmented reality, advanced data analysis, marketing forecasts – this list can be easily extended, but let’s take a look at something easily understandable and applicable.
You may have heard about chatbots (hardly anyone hasn’t so far). In real estate development, they have also gained quite a popularity since they can be an excellent tool for improving customer service and providing 24/7 clients’ support, providing information about properties, and updating customers on the latest news and listings. Moreover, they can help you gather information about your prospects and clients, analyze it, and use it in your marketing process. And in the moments of hesitation, keep in mind that using innovative technologies is becoming crucial for competitiveness in the modern real estate market. I recommend taking a look at this collection of the latest marketing trends for a real estate development
5. Be in time
It is as essential as it has never been before – the moment! Everyone is chasing now and – even better – tomorrow. Being stuck in yesterday is the scariest thing one can imagine, and real estate development marketing isn’t an exception.
To be in time with trends and clients' preferences, you need to leverage real-time analytics of users' behavior, which is available on many platforms. While some of such tools work as universal solutions, you can also easily get options that are tailored individually to your business processes. For instance, Google has proposed a new approach to customers’ behavior – not even moments, but micro-moments are coming into play nowadays. They are applying machine learning approaches to marketing and deliver them in the form of easily accessible services that can help you boost your digital marketing strategy.
Under conditions of modern real estate development marketing is becoming a more and more powerful thing. However, it’s not that marketing you found sufficient ten years ago – the 21st century is entirely about the data-driven approach. So if you want to leverage it, you need to be ready to continually analyze your audience, monitor social media, use innovative technologies, and, by all means, leverage property management tools as a necessary basis.