Advertising costs are only going up, reach is constantly declining and the competition for attention has reached a point where real estate agents are resorting to all sorts of clever tactics to get noticed across the web.
1. Social media is all about engagement
Social media is really fun from a personal perspective. When someone likes, shares or comments on your posts, it makes you feel really good. But here’s the reality… you can’t deposit your likes at the bank.
2. Email is dead
Recent research revealed that 47% of consumers prefer email for brand communications, compared to 17% who prefer display ads, 14% who prefer text messages, and 12% who prefer mobile app notifications. Social media? It came in dead last at just 10%.
3. You don’t even need a website today
If your website is all about listings, your profiles and reviews, then yes – you do not need a website. This information already exists on the portals and social platforms where people are actually going and chances are when someone types your name into a Google search, your profiles on those other platforms appear above your own website.
But here’s the reality… you don’t own your presence on those platforms. They can change the rules whenever they like which can impact your ability to stand out in a big way. They can put up their prices and there’s nothing you can do about it.
Your website is the only platform on the internet you own. It’s the only one where you are not competing for attention and it should be at the centre of everything you do online. Still use other platforms but rather than letting your presence just live on those other platforms, ensure they are part of a multi-channel approach, centred around your website.
4. Pixels – you need a pixel. You absolutely need a pixel!
This isn’t necessarily bad advice, but there’s a lot of hype and poor advice on how to actually use pixels properly.
What the so-called gurus tend to leave out here is that you can only install a pixel on websites you own which means you can only retarget traffic from your website. Traffic being the operative word.
If your website is driving little to no traffic or if your advertising is not directly related to the actions people have taken on your website, then a pixel is not going to set your digital marketing world on fire. In fact, it could have the complete opposite effect and drain your advertising budget if you don’t correctly implement a remarketing strategy.
5. Marketing automation will solve all of your problems
More than 1,500 agents, marketers, principals and sales PA’s attend our digital marketing training each year. More recently, we’ve been inundated (and that’s not an exaggeration) with a situation whereby an agency is receiving negative reviews online because of the marketing systems or software they’ve put in place.
Consumers are being asked to be removed from bulk email or SMS software and when it doesn’t happen, they’re taking to Google, Facebook, Productreview.com.au and various other platforms to vent their frustration. Marketing managers inside real estate businesses have told us of their own frustration with the desire of some agents in their business to keep up the ‘batch and blast’ or ‘churn and burn’ email marketing approach. They’re concerned this is hurting their digital footprint – and they’re right.
Conclusion
It’s quite clear to me why many real estate businesses are jaded or disheartened by the whole digital marketing thing.
Principals and agents are (or should be) busy listing and selling. They don’t have time to stay across all of the latest trends or tech. They trust that what suppliers are saying about their product or service is true and that it will help take their business to next level, or, they rely on what other agents are saying about the latest digital and tech trends before handing over their credit card.
But over time, it turns out they’ve been sold something that either doesn’t live up to their expectations or, worse, it takes their business backwards.
It’s exciting to see a growing number of businesses today with internal staff dedicated to reviewing software, consultants and platforms before deploying them across their companies. These businesses go through a rigorous vetting and evaluation process before implementing anything across their network or office. These businesses attract top talent because of their technology platforms and, from a business valuation standpoint, they are building valuable assets well beyond just their rent roll.
You don’t have to be a big business to do this. The lesson here is to stay curious and be informed. Speak to trusted leaders, and by this I mean trusted principals within real estate businesses. Ask them what tools and consultants they trust.
