Advertising in real estate was once relatively straightforward. You’d simply promote listings in newspapers and magazines where they’d hopefully be seen by interested buyers. Agents also spent hours completing letter box drops of property pamphlets and other promotional material. Of course, things have changed a lot since.
When is Print Advertising Effective?
Print advertising and other traditional real estate marketing tactics aren’t necessarily ineffective. It’s more about whether the results justify the effort and expenditure. Compared to digital advertising, it’s almost impossible to understand what if any returns they generate. However, they can have their place in a marketing mix.
For example, print advertising in local newspapers can garner some response, especially if you’re targeting older prospects. But once again, it’s important to consider the cost-benefit ratio. Print advertising is expensive. Newspaper readership is in fast decline across every demographic. Even baby boomers are online more now, with over 50% regularly using social media.
Digital Advertising is Measurable and Provides More Insights
Unlike print advertising, a digital campaign allows you to target people precisely based on demographics. You can also track conversions and measure the ROI of ad campaigns based on clicks, responses and enquiries. The speed to market when comparing digital to print is significant. Digital ads can be live within 15 minutes. You’ll start receiving insights on how that ad is performing as soon as it’s up, including:
- How many people you reached
- What kind of demographic they were
- How many views and clicks each ad got
- What kind of actions people who saw you ad made. For example, if they made an enquiry or visited your website.
These insights provide valuable feedback, allowing you to test different tactics and improve results and increase ROI over time by tweaking strategies on different channels. This helps you find the best approach for marketing a property in each unique situation.
Digital Advertising is Strategic
The key challenge is that effective digital marketing requires a more strategic approach than print advertising. This is because there is so much competition online in terms of capturing people’s attention. Online advertising tools are also increasingly complex. Understanding how to leverage powerful digital marketing tools properly is crucial.
Marketing with limited data was normal at one point, but today’s business landscape requires more nuance. Consumers have become accustomed to businesses understanding them and making every effort to cater to their values and needs. To succeed in the digital space, agencies must know how to reach and engage the right prospects effectively and facilitate exceptional customer journeys.
Contact Plezzel Today for Your Next Digital Campaign
At Plezzel, we specialise in data-driven digital marketing for real estate. Get in touch with the Plezzel team for help with your next campaign. If you want to learn more about creating better customer journeys in 2021, download and read our Ebook for Digital Agents today.