Benefits of Digital Targeting and the Moving Consumer
Most of us start out as tenants in a rental property when we move from our parents house. We might then become first home buyers. After that, we might need to upgrade to a larger house after starting our own family. Once we retire, we might look to downsize. This is called the real estate lifecycle. With digital targeting tools, agencies can track where prospects are in their real estate lifecycle based on information like age, income, location, relationship status and more. This is because demographics can predict the type of property and geographical area prospects are looking for.
The Beginning of the Real Estate Lifecycle
To further illustrate the real estate life cycle, let’s look at the Melbourne market as an example. Census data shows that certain suburbs like Richmond, Brunswick, St Kilda and Prahran are popular places to move to for Victorian’s in their 20’s. Suburbs Victorian’s in their 20s have moved away from include outer suburbs like Eltham, Glen Waverley and Clayton, areas associated with suburban family living.
People in their 20’s move to these areas for new opportunities as well as lifestyle factors. These suburbs tend to have a large number of pubs, clubs, cafes and parks as well as proximity to universities and other higher education institutions. For example, 2000 people in this age group moved to Richmond in the past five years.
Where Victorians Move to Later in Life
The same census data shows that people in their 30’s move away from the same trendy, inner city areas. For example, 1617 Victorians in their 30’s have moved away from Richmond since 2011. The reason for this tends to relate to requiring a larger abode when starting a family. Areas like Richmond, St Kilda and Brunswick tend to be pricier and have more planning restrictions.
On the other hand, it’s far easier to find an affordable large property in the outer suburbs. Victorians in their 30’s are moving to places like Truganina, Cranbourne, Tarneit and Craigieburn for those reasons. The data shows that while Melbournians move around a lot in their 20’s and 30’s, they tend to settle down once in their 40’s.
The last chapter in the real estate life cycle comes once the kids leave home and Victorians begin reaching an advanced age. Once aged 60 and older, they like to move to places that suit the amenities of an older person or move closer to the coast. Areas by the sea that have welcomed the most people in this age group include Wonthaggi, Inverloch, Mornington and Rosebud.
Follow the Journey With Digital Targeting
Your agency can streamline your marketing efforts by segmenting your database and targeting people based on where they are in their real estate journey. To do this, you need to be able to effectively capture every enquiry.
At Plezzel, our platform can help you capture, segment and manage your data so your digital marketing is hyper-targeted and ultimately more effective. We can match active buyers to their social media accounts using our targeting techniques along with a Facebook pixel, creating the ultimate strategy to capture each stage of the buying life cycle.
Want to learn more? Get in touch with our team today about how we can help you achieve your digital goals.
