Real Estate Turning To Online

Recently, my parents sold our family home. As the only house I have ever lived in, I was unaccustomed to the process of selling. What struck me as odd (besides the tips our estate agency gave regarding open house inspections; such as baking just prior to the inspection time in hope that viewers would smell something that would somehow make them feel more at home), was the marketing strategy.

It seems that traditional advertising for house sales is on the decline and digital marketing is the way to go. Statistics show that advertising on online sites such as realestate.com is today far more beneficial than paying for half page spreads in local magazines such as the Melbourne Weekly. Paying a premium on real estate sites can even ensure your home is always a top result when buyers search in the area instead of being lost amongst the plethora of house sale pages in the Weekly. 

So why this shift toward online advertising of real estate? There appears to be a variety of benefits. 

1. More information, more photos, and a more extensive floor plan can be presented online.

2. House advertisements can be regularly updated regarding price or inspection times.

3. Online sites such as realestate.com now have smart phone apps enabling buyers to explore real estate anywhere, anytime.

4. Online advertising is cheaper than traditional advertising meaning more sellers are opting to forego print advertisements. This in turn has meant that buyers are more likely to find the place they are looking for on the Internet.

5. Online advertising can be measured. My parents were able to view exactly how many times a unique user clicked on our online advertisement and how often a user saved the house to their list of favourites. This is a benefit print advertisements lack.

With a greater number of consumers today shifting their attention online due to improved ease and acceptance, one must wonder how long it will be until more industries focus on digital marketing. Increasingly we are buying our clothes, concert tickets and books on the internet. And there appears to be growing advertising online with the likes of property sales presenting an obvious change in their marketing techniques. This example, I believe, is telling of the developing (or perhaps, developed) importance of e-marketing.  

http://www.realestate.com.au/buy 

Friendship Request Ignored

On August 17th this year, Rob Fraser wrote an opinion piece on the mUmBRELLA site about how most businesses should refrain from creating social media sites for their brands. His argument is that social media should be used by companies to promote positive value for consumers such as promotions or a hilariously funny new advertisement, but that establishing platforms for customers to criticize a brand is a no-no.

Fraser contends that "companies exist to sell stuff and make money, not friends." Keeping this in mind, it can be absolutely relevant for a business to utilise the Internet and social media to research their customers, find out their wants and concerns, and implement strategies to satisfy customers (with the end goal of improving profitability). But, "clumsily [starting] uninvited conversations with" customers online is not a brand's job, especially when so many of them do not accept criticism well. Rather, companies need to use this tool to listen to customers who are going to express any strong feelings they have about a brand online whether the business has a social media page to do it on or not. 

Considering bad news tends to make headlines more often than good, social media pages, Fraser argues, are simply fueling the potential for a public relations fire storm. 

Whilst Fraser makes very valid points I would argue that if a company has a solid positive  public persona that is in line with their business values, social media can be a way of growing a brand and ensuring this positive image is maintained. If companies have a reason to be good to their customers and their staff, they will make sure both parties are happy. Social media, with its obvious potential to exacerbate negative consumer perceptions, can be this reason.

Ultimately, social media is not for every company. It must to targeted, of value to consumers and monitored correctly.  

To read Rob Fraser's full article, click the link below.

http://mumbrella.com.au/antisocial-media-110180