It’s no secret that real-estate is one of the most competitive markets across the globe. From small-scale realtors trying to get into the top 10% of the industry to industry-giants cracking deals worth millions of dollars, every real estate agent is trying to win a piece of the pie.
But, due to this fierce competition, many real estate businesses fail to see the day of the light. Research suggests that many real estate businesses fail within the first year itself. It’s also worth noting that 54% of these businesses are shut down within the first five years of their operations.
Now, while there are multiple reasons behind this failure rate, lack of marketing is at the top of the list. The majority of realtors and real estate businesses fail because they don’t invest in a solid digital marketing plan. To save you the trouble, we have compiled this detailed guide explaining the significance of a robust marketing plan for real estate businesses and which marketing strategies you can use to gain exposure for your real estate business in 2023.
So, without any further ado, let’s dive in.
Why Does Your Real Estate Business Needs Online Marketing?
We are living in a digital era where technologies such as Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) have already become mainstream. The general population is relying on smartphones for everything, including searching for nearby properties.
In such a digital landscape, you are less likely to succeed without a personalized online marketing campaign. A fully tailored marketing plan will put your brand on the map and help you generate qualified leads. Consequently, this will lead to better conversions.
Here are some additional reasons that explain how your real estate business will benefit from digital marketing.
- 95% of all home buyers use the Internet to search for available properties.
- Millennials are most likely to be the next potential generation to buy properties and their reliance on technology is comparatively higher than boomers and the silent generation
- A custom marketing plan will help you reach potential buyers more conveniently and boost your ROI.
- A strong marketing campaign coupled with a well-established digital presence will help you gain competitive advantage
5 Marketing Strategies to Grow Your Real Estate Business in 2023
Now that you know why real estate businesses need digital marketing, let’s take a look at some of the most effective marketing strategies that can take your business to new heights.
Optimize Your Website for Mobile Users
Mobile searches are dominating the Internet right now. Studies show that mobile searches are accountable for 63% of all organic searches. It means people who are looking for properties are most likely to be using mobile phones to find your business.
Consequently, it makes complete sense to optimize your website for mobile phones so that it can deliver a seamless user experience on mobile phones. Optimizing a website for mobile is a crucial part of any real estate marketing campaign.
The most convenient way to optimize a website for mobile is using a responsive theme. Today, the majority of the website builders offer built-in responsive themes, which business owners can incorporate into their website architecture with a single click.
Build a Blog and Update it Regularly
Publishing information-driven blogs is one of the most effective ways to establish your brand as a business authority. You can utilize the blog page to regularly provide industry insight and share useful information on how people can find the desired properties more conveniently.
A lesser known advantage of publishing blogs is that it can also cater to your website’s search engine rankings. You can optimize your blogs by incorporating the target keywords and ensure your web pages rank higher in Google SERP.
Optimize Your Property Listing
Property listings are the most vital element of a real estate business. People will most likely hire you as their real estate agent if they can easily search for the desired properties on your website.
Make sure that your property listings are fully optimized and cater to buyers’ expectations. Add high-quality property images and make sure to add detailed property descriptions. This will help buyers get a complete insight into the selected property and make better decisions.
You can further optimize the listing by adding 360-degree tour videos to help buyers virtually tour different properties and make the right decision right from the comfort of their houses.
Leverage Your Social Media Presence
Social media is one of the most reliable marketing tools for any real estate business. As surprising as this may sound, social media platforms are responsible for generating 53% of all real estate leads. This indicates that a strong social media presence is not an option for real estate businesses; it’s a necessity.
However, having social media accounts is not enough. It’s also crucial that you can fully leverage these platforms for your business growth. Start by posting regular content to engage the most potential followers. Secondly, instead of static posts, use short-form content across all platforms to grab users’ attention and direct them through your sales funnel.
Hire a Dedicated Marketing Team
Designing a result-driven marketing campaign takes time and expertise. As a real estate agent, you may fail to put the required hours and implement the necessary strategies to optimize your online presence. Why? Because you’ll also have to deal with your customers on the side.
This is where hiring a dedicated marketing firm comes into the picture. A marketing team will solely work on your online presence and implement the necessary strategies to improve your digital experience.
They also have hands-on industry experience of designing personalized marketing campaigns for different types of real estate businesses. Consequently, you’ll be able to yield the desired results in a shorter time span.
Real estate marketing is one of the key factors of sustaining consistent business growth in this modern era. Your business can lack significant lead opportunities if you don’t build a fully-optimized marketing plan. The above-mentioned marketing strategies are only tip of the iceberg. You can further leverage other marketing tools to maximize user acquisition and generate quality leads.