Three Things We Know About Real Estate Marketing
Anyone with a pulse will know that the real estate market is hot, white hot, at the moment. Trending topics include discussions about whether or not a bubble exists and if it will burst while potential buyers are offering everything short of their first born to secure a home among a field of bidders.
In addition, industry experts at Realtor Magazine and CRE are pointing to a list of potential challenges facing the market, including:
- Labor shortages
- Rising interest rates
- Remote work
- Affordable housing
At WHYFOR, we get it. When it comes to real estate, every player is challenged to rise above and stand out in a highly competitive space. It can be daunting. But, our real estate experience has shown us a few things about the importance of using insights and integration to influence behavior.
Here are three things we know about real estate.
- Understand your personas: It’s important to know who you’re talking to. Are they a young couple looking for a larger home to accommodate a growing family? Is it a newly-single parent looking for a fresh space to call their own? Or, are the owners older, hoping to downsize but still have room to entertain at the holidays? Personas dial in audiences with precision. Understanding them helps brands shape the content, particularly voice and substance, of what they’ll share with each individual persona. And there are so many different ways to understand an audience, from income level to timing to geography to passions. An outdoorsy persona likely wouldn’t be interested in high-rise living, for example. And the same could be said in reverse. It’s that in-depth understanding that makes marketing more powerful and more effective.
- Understand where they are on their journey: Once you understand who your brand personas are, it’s important to understand where they are. A couple nearing retirement may still be a few years away from purchasing a second home, or they could be ready to pull the trigger on a purchase immediately. The details in the circumstances map out how a brand should market to a potential client — from voice and tone, to opportunities to buy to the all-important “call to action” statement. Those same variables can be applied to any type of marketing, from digital ads to blogs to email campaigns. Understanding the point along the journey also helps with user experience elements, from digital ads to landing pages to website development.
- Understand the pain points each persona is experiencing and what questions they may have: Personas are actually mosaic individuals, if that paints a picture of the character traits that are poured into each one. Knowing that, it’s safe to say that a number of different but potentially related pain points could bubble to the surface, with a similar volume of purchase-related questions. When it comes to real estate, consider questions related to:
- Cost and timing
- Amenities and aesthetics
- But also consider what, specifically, they may be searching for:
- Custom estate
- First or second home
- Land that could be developed at a later date
By addressing personas with an informed perspective, it builds a stronger relationship and more trust between the prospect and the brand — lending the brand greater influence on the prospect.
Want to see more? Our case studies bring these truths to life.