Purchasing property in a pandemic
The COVID-19 pandemic has forced Australian businesses to rapidly evolve the way they operate or face the very real possibility of going under. Schools implemented remote learning programs, gyms held virtual classes and restaurants all moved to offering takeaway service.
The property industry followed suit, making necessary adaptions to continue functioning and possibly changing the way real estate is marketed forever.
How were people looking for property?
Pre-pandemic, the traditional method for consumers to search for property would begin online. Using portals like realestate.com.au or domain.com.au, you would search for properties or developments, review their website or listing and possibly register your interest. This traditional digital approach was supplemented by other forms of media like newspapers and magazines. The goal would ultimately be for agents to get consumers to visit a sales suite, where they could start to control the narrative. It was very much a multi-channel media approach.
However, when the COVID-19 lockdowns came into play this traditional approach was no longer viable. We were all stuck in our homes which naturally led to potential property purchasers being online more than ever before.
What’s the new normal?
Digital marketing was clearly the area the industry began placing more and more focus. However, rather than teasing potential purchasers with a little information and hoping to draw them into a sales suite visit, we have seen a transition to providing as much information as possible online. This approach has been really positively received by buyers, as it allowed them to independently research and make informed decisions.
This was a great change, but still didn’t close the marketing loop. Therefore, we have seen marketers adapt incredibly swiftly to implement new strategies like virtual display tours, video sales consultations, digital brochures and a larger reliance on video. This meant that buyers were given a lot more control over their own journey, while marketers were still able to function efficiently. In effect, these changes possibly brought inadvertent improvements to the sales and marketing process that no one could have expected.
Are these changes temporary?
Just because these changes were born out of a need to adapt, it doesn’t mean that they will disappear once life returns to normal. Since we’ve been in lockdown, we’ve actually seen some really interesting results coming out of our live media campaigns.
We can see the buyers are relishing the fact that they can access more information than ever before, quickly and easily. This is reflected in dwell times on websites and the file downloads we can see occurring.
Many of our clients are also reporting that they are seeing higher quality leads coming through, largely because the people who are registering are doing so after they are more informed and educated about the product. We are further increasing the quality of these leads by utilising pinpoint targeting on channels like Google and Facebook, which naturally eliminates less qualified leads.
If you are a business in the property sector, this current landscape could present a big opportunity for you.
In the digital advertising space, we are seeing a decrease in the cost per lead on Google, Facebook, and Instagram, all without losing quality. With more eyes than ever online, now is the perfect time to act and increase your brand awareness.
We can help you employ strategies that will ensure your content is easily found and consumed by a highly targeted audience through channels such as Facebook, YouTube and Outbrain. We can do all the heavy lifting for you and make sure your campaign is performing at the highest possible level and delivering relevant, quality leads.
If you have any questions about this article, implementing your own media strategies or advertising in the property industry, contact Ant Bray on 0407 850 603 or firstname.lastname@example.org.