Digital marketing has become a vital tool for consumer and stakeholder engagement across various sectors, including real estate. In India, customers have evolved to make well-researched, informed decisions, and a brand’s digital presence and social media interactions have become crucial in creating a positive impression even before the first meeting or site visit.
This is especially true in the luxury real estate sector, where multiple factors come into play. As the global luxury real estate market rapidly grows and developers aggressively identify opportunities, digital marketing becomes pivotal in engaging customers and establishing a positive brand image to stand out from the competition.
Luxury realtor and social media content creator, Snehil Yadav says, “With 20% of its business driven by online channels and the continuous rise of online engagement, the real estate sector has recognized the expansive reach and cost-effectiveness of digital marketing compared to traditional advertising mediums. Statistics show that real estate developers now allocate approximately 30% of their advertising revenue to online marketing.”
According to the National Association of Realtors, 97% of homebuyers used the internet to find homes in 2020, leading real estate developers to heavily focus on digital marketing to reach their target audience effectively.
Here are four trends that real estate professionals can integrate into their digital marketing strategies to capitalize on the evolving landscape:
Video Marketing:
Video content has proven to be more impactful than written content, making it an essential tool for developing effective customer engagement campaigns. In the real estate domain, video marketing includes features like walkthrough videos of luxury properties that help high-net-worth individuals (HNIs) make decisions about site visits and further explore the property.
Testimonials from existing customers also act as powerful video marketing tools, especially in the luxury segment, as they foster healthy peer competition and credibility when an HNI endorses a project. Utilizing Instagram reels, announcing awards won, showcasing unique or state-of-the-art luxury elements, conducting interviews with designers, architects, or developers, and more, all contribute to a successful video marketing campaign.
Leveraging AI and Chatbots:
Modern tech innovations that leverage artificial intelligence (AI) and machine learning (ML) have transformed marketing and customer engagement across various sectors, including real estate.
AI-powered chatbots on platforms like Facebook
Messenger have recorded an impressive 88% open rate, while real-time chatbots on client websites guide visitors through a property, enriching their digital experience and generating valuable data. These AI-driven interactions contribute to better ROI and enhance the overall customer experience.
Virtual Tours of Properties as a gamechanger in digital marketing
What started as 3D walk-throughs a decade ago has evolved into virtual property tours, which have proven effective in gaining buyers’ trust and helping them determine their interests. Virtual tours allow buyers to understand the overall look and feel of a property without physically visiting it.
Luxury real estate developers often share upcoming plans and immersive walkthroughs, showcasing grand designs and luxurious locations. These virtual tours provide quick access to properties with just a click, accessible on tablets, mobile devices, and computers.
Influencer Marketing:
While information is readily available, helping people make sense of it and analyzing it is equally important. Influencer marketing has gained traction not only in fashion, grooming, and self-improvement-related experiences but also in the real estate sector, particularly for luxury properties.
Collaborating with the right influencers who can provide value through insights while promoting properties from a nonbiased, competitive perspective helps build brand credibility. Real estate developers themselves can act as brand custodians, maintaining consistent digital media visibility through regular blog posts on their websites. Sharing market and industry insights, commenting on trends, and highlighting sought-after amenities can help build a rich content-based narrative while also giving the brand a human face.
In conclusion, digital marketing has transformed the process of house hunting, especially in the realm of real estate, including luxury properties. To convert marketing initiatives into sales, real estate developers must invest in the right digital marketing strategies.
It is essential to not only highlight unique selling points but also address key concerns and drive engagement through a clutter-breaking content strategy. Leveraging the cost-effectiveness of the digital world allows developers to connect with a larger audience compared to conventional marketing practices. By embracing these latest digital marketing trends, Indian real estate professionals can stay ahead of the competition and create a lasting impact on their target audience.