The Benefits Of Social Media Marketing For Real Estate Agents
How you market your properties effectively has become more complicated than ever thanks to the rise of digital technology. While the traditional methods of shop front listings, ads in the property section of your local newspapers, and letterdrops still have a place, it’s an ever decreasing one. Today’s customers are constantly connected to the Internet via their smartphones, and they live their daily lives through an amazing assortment of apps and social media platforms.
While print has a role to play (for now at least) social media marketing for real estate agents offers a powerful way to reach quality audiences. The key areas social media marketing can help your business are:
- Reaching high intent customers -
This leads to an increase in viewings and drives requests for property valuations
- More cost effective than print -
You get a better ROI on digital and you can track effectiveness
- Builds your brand awareness and trust -
You can keep your brand front of mind and also reach a passive audience that will help feed your lead funnel in the future.
Let’s explore each of these areas in a little more detail.
Reaching High Intent Customers
Social media marketing comes into its own because of the ability it gives real estate agents to target people who are actively looking to buy or sell a property. Whereas a traditional print ad or letter drop is sent out en masse to an audience who aren’t necessarily all looking to buy or sell, social media marketing uses data and intelligent algorithms to zero in on a much smaller audience, but one that is highly likely to be considering or actively engaged in house hunting.
This makes your marketing much more effective. In fact when we work with real estate agents who are currently not using digital advertising we help them achieve a 100% uplift in valuation requests. The impact on lead generation and developing a healthy sales funnel is dramatic.
One extra perk here is that social media gives you access to data that can help you build and develop a real relationship with your customers. You can better understand their needs and intent, so that when you contact them you can provide them with a service that is tailored to their needs. Not only will this help move them from lead to customer more effectively, it also helps to build trust and strengthen your brand.
Social Media Marketing Is More Cost Effective Than Print
This is less about the total cost of social media marketing vs print and more about the ROI you’ll see. As we touched on previously when you take out a print ad or run a letterdrop to be sent around a neighbourhood you’re putting your property or services in front of a big audience, but a huge section of those people either don’t look at your ad or they chuck the leaflet into their recycling bin. Why? Because they’re just not interested in buying or selling property at the moment.
When you run targeted adverts on social media you’re reaching a qualified and high intent audience so you’ll see a much higher degree of interaction with your adverts. While the overall audience is smaller it will generate higher ratios of enquiries and requests. The end result is that, in our experience, to reach a single qualified and relevant buyer or seller via social media marketing is almost 20 times cheaper than via a letter drop.
Your ROI on social media adverts is a lot higher than print but the platform has an added benefit: you can track the performance of your ads in detail and accurately report on your ROI. You can see how many people were reached by your ads, what interactions took place, and what the end results of the campaign were. Adfenix allows you to track all of this in real time so you can make adjustments to your adverts to improve performance.
Build Brand Awareness And Trust
One of the big benefits of print media is that you reach a very wide audience. While these people may not be actively looking to buy or sell property, print media helps keep your brand in the minds of customers. This type of activity shouldn’t be overlooked because brand relevance and salience are very important for mid to long term sales, and for building a powerful brand. When these people do decide to move home the brands they default to will be ones who they have had multiple and consistent touchpoints with.
However, even here social media marketing for real estate agents offers an edge over print. Adfenix has products that can reach passive audiences using specific targeting algorithms, and can use property sales and new instructions to show off your brand success and establish your brand as authoritative and trustworthy.
Social media marketing for real estate agents delivers many benefits over print. You’ll reach a more qualified audience of high intent customers, see a better ROI from your marketing investment, and build your brand power. Importantly, using social media and digital platforms will help you deliver the experience your customers now expect.
ADDENDUM: According to an October 2019 report from Zenith media agency, social media advertising has now overtaken print to become the third-largest advertising channel globally. Their data indicate that social media advertising will account for 13% of total global ad spend and rank as the third-largest advertising channel, behind TV and paid search by the end of 2019. As a specialist in digital real estate solutions, this comes as no surprise to us. Zenith’s report suggests that “the targeting capabilities offered by social networks is enough to help push social into the top three ad channels” and our unique platforms success data supports this.
You can find out more about how Adfenix’s products can help you here.