Raise your hand if you are on social media – anyone? Odds are most people have some sort of online profile – 79% of the US population to be exact – but does your real estate business have one? If not, 88% of businesses are beating you for your audience’s attention. Simply put, a mix of smart digital advertisements on strategically placed platforms allow real estate marketers to reach prospective customers and corporate decision-makers where they are – social media.
Developing a strong social media strategy gives real estate marketers access to a pipeline of new leads, an avenue to nurture prospective ones, and a channel to follow up with current and past clients. Meanwhile, marketers are engaging with prospects in real-time, publishing timely and relevant content, and advertising in a more personable and targeted manner.
Let’s Explore Some Tips for Maximized Social ROI
Not All Platforms Are Created Equal
Around one-fifth of all US B2B digital ad dollars is funneled into LinkedIn campaigns, positioning the platform as an optimal medium for reaching real estate investors seeking to build their portfolios through investment in high-performing properties. Alternatively, Facebook has the broadest reach for demand-gen, using geographic targeting to effectively reach local prospects. Lastly, Instagram’s visual focus allows multifamily marketers the opportunity to highlight the unique amenities and differentiators of their communities. No matter the industry, the first thing marketers need to determine when developing their social strategy is who, what, and where their focus should be.
Proactively Divvy up the Budget for Smarter Spend
Today’s online audience wants what they want when they want it, and it has to be good. With overstimulation flooding all digital channels, consumers only take notice of the most relevant, personalized, and credible content. Ensuring all outreach efforts meet this demand is a vital step in effective advertising and budget allotment.
If your business is on social media, it’s not alone. To stand out in a crowded market, real estate marketers need to leverage data collected from social media ads that provide insight into who, what, and where their advertising budget should be directed. This eliminates time and budget wasted on broader, unfocused demographics. The provided data also determines which campaigns are driving the most interest, where it comes from, and the demographics absorbing it – leading to the smartest and most cost-effective spend.
Learn from the Past
Advertising strategies are not set-it-and-forget-it. Continuously gathering data and analyzing reports is a priority for all marketers, but especially for those in the real estate industry as it continues to evolve at a rapid pace. Using smart technologies such as Machine Learning and Predictive Analytics provided by Marketing partners like G5 present opportunities for more relevant prospect experiences that will ultimately outpace competitors. Beyond data monitoring, actively measuring and listening to the conversations surrounding your product or brand is the only way to both respond to criticism and maintain brand support; recognizing customer advocates and gaining a depth in understanding of prospects’ sentiment and needs.
As is the digital plane, social media advertising strategies are continuously evolving as audiences and online behaviors change. Knowing who to target, where to budget, and how to improve will separate the successful from the unsuccessful. The proof is there, the audience is there, the competitors are there – are you?