The phrase ‘digital marketing’ is thrown around a lot nowadays in the real estate industry, but what exactly does it mean?
By definition, it refers to using any digital medium for marketing purposes (who would’ve guessed). However in the real estate industry, it relates mainly to the use of websites, social media, digital content, and perhaps the most underappreciated of them all, the use of paid-ad spend on platforms such as Facebook, Google, and LinkedIn.
You’ve been told time & time again that the hottest thing right now you can use to boost your business is social media, and so you’ve gone ahead and made your own Facebook & Instagram page for either your agency or yourself as an individual agent. After posting pictures of your Monday morning Lattes, new listings, and auction day snapshots for the last few years, you’ve garnered a couple hundred followers, and a few likes on each post. It feels like a drill to post, and depressingly enough, you’ve not actually had any buyers or sellers contact you through social media after all these years of posting.
The problem is that you’ve only been shown one small piece of the puzzle.
Digital marketing is about leverage & scale. This is the key thing to understand. The ultimate power of digital marketing is in driving huge amounts of people to view your content through strategic & optimized paid-ad campaigns that can be scaled as you grow. However, these people need to be directed somewhere, and that’s where content comes in. Effective digital marketing has to be strategized & implemented in a holistic manner where firstly an efficient marketing funnel is created before traffic is generated & poured in the top.
Below, I’ve outlined some pieces of the puzzle so you can better understand what you need to do to really make your digital marketing work for you & your team.
At a fundamental level, digital marketing is comprised of three stages. Awareness, engagement, and conversion. A solid digital strategy will take into consideration multiple factors to optimize the performance at each stage of this funnel.
It is helpful to look at each individual phase and see how your prospective leads flow through the funnel to see where you may need to make improvements.
Awareness should include a strong paid-ad optimization plan coupled with content that captures the attention of your audience. Engagement really just comes down to putting a huge amount of value on the table to your prospects, in order to raise your own authority & trustworthiness. At the bottom of the funnel, conversion should follow a proven & systematic process that turns your cold traffic into hot leads.
At the end of the day, you need leads. Your website is the machine that will convert viewers into prospects, who will eventually become your buyers & sellers. This is why your website needs a very deliberate way of converting traffic into a usable database of names, emails, and phone numbers.
If a stranger asked for your full name, email, and phone number, would you give it to them? What if you knew that they wanted to sell you something? Or what if instead, you knew that they weren’t going to sell you anything, but simply wanted to send you something valuable for free? The problem is so many agents & agencies are asking too much of strangers without getting to know them first. The goal of your website is for your audience to get to know you, and for you to show just how valuable you can be to them. Not to be a hosting site for your listings, because realestate.com.au & domain.com.au already exists to do that. Make sure your website provides true value before asking for permission to contact your leads.
Your social media
Social media algorithms don’t want to send organic traffic to your page. Facebook & Google makes money by delivering ads, and so there’s more incentive for them to force you to use paid-ad spend to reach your audience.
Paid-ads aren’t a bad thing either – You have much more control over them, and their core functionality makes them much more scalable. Past just the basic controls of targeting interests & demographics, there’s a whole world of campaign optimization that changes the efficiency & cost of your ads dramatically. In fact, it’s such a comprehensive practice that strategizing & optimizing social media campaigns are now a standalone service we offer. What I’m trying to say is, don’t boost your posts. It won’t work.
Aside from using paid-ad campaigns to increase your reach, your regular social content will provide brand lift & authority, which is important for building trust in your prospective clients. All it takes is some simple branding guidelines across your posts to really differentiate your page from all the others out there.
This is just a very short insight into the world of digital marketing, but hopefully it has given you an idea of just how expansive the scope can be. It can be daunting, but rightly so; It’s a big undertaking that will require a lot of time, effort, and investment on your behalf, but when executed properly, will scale your business massively.
If you have any questions regarding the digital marketing process or would like to know more about how we can take care of your digital marketing, feel free to get in touch using our contact page.
Long Yin Hobirch