Inbound marketing for real estate is a brand new approach of marketing to your target audience. You might have already heard the term “real estate inbound marketing” from your marketing specialists or in your professional network. Surely, you know that it has caused quite a buzz recently.
Let's check out how exactly it's going to change the game altogether in real estate marketing.
There are various sectors that drive a nation’s revenue cycle. Of all those, real estate plays a significant role in enhancing the growth structure of a country.
Stat - Our global population which is 7.2 billion today, is estimated to rise upto 8.1 billion by 2025 and will be 9.6 billion by 2050. (source - UN Report)
Such a rise in population sets the stage for expected rise in demand for new homes all across the globe. Global real estate industry definitely has its glorious days coming ahead.
With demand comes marketing, and with marketing comes advertising! Advertisements are bombarded onto consumers in every possible way. It all started with print and over time has evolved into digital today. Though we were able to create multiple channels through which we could advertise, the methodology has somehow remained the same all through these years.
For the first time the marketing world is undergoing a wave of change because of the fact that customer’s behaviour is evolving. Digital screens are in trend and screen time is increasing day by day.
Introducing the game changer – Real Estate Inbound Marketing
Taking into account the need of the hour, a new methodology has been crafted that priorities THE CONSUMER and their INTEREST, instead of the marketers - ‘Inbound Marketing’.
Inbound marketing for real estate works on the basis of attracting relevant visitors to your website, by producing content which is educating, interesting and helpful. In a sense that your prospect home buyers are supplied with relevant and thoughtful information at every stage of their buyers journey before they take the final decision!
Your potential customers are already researching the internet for information or answers to their specific queries. And you can become their guide and assist them to take the final decision of buying their beloved home from you! Inbound marketing when done for real estate in such a manner helps in finding interested prospects and drives them to your website and not your competitor's, through the complete buyer's journey.
This new approach is much more refined than traditional disruptive advertising due to the fact that we ourselves educate and help our potential customers in their decision making journey.
Here's another Stat - 54% more leads are generated by inbound tactics than traditional paid marketing. (Source: HubSpot)
Listed below are 4 big reasons why inbound marketing is going to be HUGE for real estate -
1) Knowledge Pool
The main reason why real estate inbound marketing exists is – to offer educating and helpful information to all who are interested. By becoming a great source of relevant information you are able to bring your target prospects to your website and nurture them in your way. This in turn builds confidence and portrays your brand as a thought leader in the minds of your marketing prospects.
Why inbound marketing is beneficial for real estate?
- It's a fact that there are people looking for homes and they are researching for the same on the internet.
- Positioning yourself in Google (we are talking about SEO here) with helpful and relevant information will drive people to your website.
- People don't want to buy anything that is imposed onto them!
- People will only engage with your forced promotional ads if they are truly interested in your offering. (sorry PPC!)
- By infusing your website with helpful information that surrounds your product/service, you essentially create it into a knowledge pool.
- Posting more & more content creates your website into a “hub” that drives people onto it and makes them consider it as something valuable.
2) Profound & Precise Audience Targeting
Billboard advertisement or paper inserts are not money efficient in today's time. They are like a funnel with a hole through which you wish to drink every drop that is poured in from top. The main reason for this being - They are not precisely targeted as per your relevant audience!
Your huge billboard ad is seen by everyone - from a child to an old man walking the street. Also, a paper insert is something which goes out to random people who are not even considering buying a home anytime soon. Therefore, spending money in such a fashion is almost like wasting it!
Inbound marketing is about being the feed that supplies information to the right people, on the right channel at the right time! Interested people will search for content that helps them and if you have created something fruitful for them, they are more likely to get hooked to you and your product/service.
Another huge aspect of incorporating inbound marketing for real estate is understanding BUYER PERSONAS.
RELATED READ --> What are Real Estate Buyer Personas and How to create them?
Buyer personas help us to identify and understand - who our potential customer is, what are his behaviours and liking, where does he spend most of his time online, what are his priorities before making the purchase and other important things.
Unlike the old traditional way of advertising, inbound marketing for real estate helps in reaching a specific and properly targeted group of prospect home buyers.
3) Sustenance and Nurturing
Inbound marketing is also about nurturing your relationship with your consumer. Its 3 main stages are - awareness, consideration & decision. But once we start using this approach, we understand that the process doesn't necessarily end at the decision stage.
You will need to nurture your customer even after their final purchase in such a way that they become your brand evangelists! Your customers are the greatest empowerment for your product/service which runs through - word-of-mouth. In this way and many other ways, inbound marketing gives importance to new avenues of marketing in real estate.
Inbound marketing heavily cuts down on the advertising cost that you might be currently spending on social platforms, outbound marketing and Google's search and display network.
Fact-of-Matter: Inbound leads cost 60% less than outbound leads. (Source: Search Engine Journal)
As we can see, the average cost per lead using inbound marketing is 60% lower compared to other traditional ways of advertising and marketing. Low cost per lead helps in saving significant amount of finance which can rather be used for some other purpose in growing your company.
Inbound marketing is one of the best modern real estate marketing strategies for targeting consumers who are really looking for what you have to offer and that too in an unforced, non-implicated manner. All in all, real estate inbound marketing is one way that ensures sustainable growth and promises better results for the future.