Thanks to the internet, it has facilitated online business transactions in every field and real estate is no exception. In fact, the growing popularity of online real estate portals and people’s interest to begin their search online whenever they want to buy or rent property clearly states that being a savvy realtor, you should not miss this part while setting up a marketing plan. Over 90 percent of people go online to find properties of their interest to save time and to increase real estate market knowledge. In today’s world, if you are not online you are missing on a large chunk of your potential customers.
We do not say that you should not go for consumer direct marketing approach or should not include referral based marketing tactics but seeing the current happenings, we just say that you should go for this kind of marketing strategies only after completely dominating the internet real estate marketing in your chosen area.
How to dominate in online market?
Most of the buyers, tenants, investors and researchers go online to choose a dependable and trustworthy realtor in the market even before picking the property. Therefore, being on 1st page of the search results does make a difference and top position can be gained through search engine optimization (SEO) and by dominating the rest of market through pay-per-click (PPC), social media network and other marketing tools.
You need to develop a full fledged marketing plan by including various pointers discussed in detail below.
What to include in a marketing plan?
You must be fully aware of what is happening in the realty market, in which you are dealing or going to deal. What is the current economic condition of the market? What are the latest marketing trends? What types of reforms or regulations are expected to be brought in market by government and how it will affect your business? You can use the past records to predict future. What is the progress of construction industry in your region? Look around and get a complete overview of trends.
Which real segment are you going to hit – are you targeting buy, sale, invest, rent residential or commercial market? It is important to answer this question because each of these groups requires different marketing approaches to cater to and to gain business from them.
Experts suggest not catering to all of these groups at one time because the business needs and marketing strategies of each group are different. The more you understand – the better your marketing results will be. However, if you choose more than one segments, then you must formulate diverse marketing strategies for each group and see how they make real estate related decisions.
Following are a few common things to include in marketing strategies for each segment.
Communication: What will you communicate to your target market in order to get their attention? What kinds of offers you will make to your potential customers? What kinds of services you will offer to them?
Communication Mode: Different online communication modes are available nowadays such as social media networking, website advertising, personal websites, email marketing, online community and blogs. You can use all of these channels, any one of them or in a combination but check your budget before finalising any option.
About the Author:
William King is the director of Pakistan Properties and Lahore Property. He has 18 years of experience in the marketing and trading industries and has been helping retailers and start-ups with their product sourcing, promotion, marketing and supply chain requirements.