Many vendors understand the benefits of Vendor Paid Advertising (VPA). Sometimes the bigger hurdle is convincing vendors what kind of advertising strategy will deliver them the biggest return on investment. For example, it’s increasingly clear to agents there is a big switch taking place with the decline of print and that a tailored digital strategy is more effective.
This isn’t always clear to vendors, especially older ones. Agents must be able to confidently explain the benefits of digital advertising with vendors, especially when they are the ones footing the bill. Here are some tips on how to help vendors see the value of a digital focus.
Important Facts to Reiterate
As an agent, being able to articulate the best strategy to market and sell your clients home is critically important as it is often their most valuable asset. You need to develop your own style in discussing digital advertising with your vendor and persuading them of the benefits.
You need to reiterate key facts to the vendor such as:
- Print has had a sharply declining readership over the last 5 years
- Newspaper sales have declined even further due to COVID-19
- Online advertising offers unprecedented abilities to tailor an advertising strategy for their property
- Facebook has 18m users in Australia while Instagram has 10m
- 93% of all online searches take place on Google
- People are on Facebook for over 1-2 hours a day (more than any real estate portal in Australia)
You need advertise on channels where your potential buyer visits daily. Explain that with digital advertising, you can target the ideal buyer and proactively nurture them across multiple websites and platforms. Juxtapose this against the passive nature of signboards and listings in portals where there is nowhere near as much insight into the effectiveness of the tactics.
Explaining How to Identify and Target the Ideal Buyer
Detail to your vendor how you can pinpoint the key buyer based on demographics like age, affluence, where they live and what kind of home they need. For example, are they a first home buyer, upgrader, retired downsizers or a couple with kids. Explain that you can pinpoint the ideal buyer and tailor an effective strategy to attract them.
Retargeting is also a good point to reinforce. This is an effective strategy on online channels particularly if the buyer was interested in the property but was interrupted when submitting an enquiry. Retargeting can be applied on Facebook, Instagram, Google and provides deeper engagement with motivated buyers.
Go beyond the click
Detail to your vendor how you can “see” what the buyer does next. Do they make an enquiry? attend an Open Home? Request a Contract? or visit other properties available for the office within the price range.
With Digital advertising every buyer activity is tracked and managed throughout the campaign. Digital Marketing provides transparent reporting mid and end of campaign the vendor is kept up to date throughout the advertising period.
Recommend a Digital Marketing Strategy
The last step is to recommend an ideal package that will meet your vendor’s specific strategic marketing needs. Plezzel digital marketing packages cover a wide spectrum of strategies and we can provide elite campaigns on request. We can offer campaigns to suit all budgets and objectives from Traffic, Engagement and Lead Generation.
If you want to learn more about how to generate more traffic or buyer leads using digital campaigns, please get in touch with the Plezzel team.