In a world of constant change, advertising and marketing is an arena that has seen more change than most. The internet, social media and the immediacy of access to information means that traditional methods of advertising are a thing of the past - like camera film, CDs and DVDs. Daily newspapers and weekly real estate press have had their day.
The power is now in the hands of the people. Social media gives control to the individual, who has the power to scroll, flick, swipe and switch and choose what they look at, click on and delve into.
So what does the advertising landscape in the world of real estate look like today?
The usual suspects still exist to a degree. Some print advertising can still be seen - linked in with associated websites of course, and catalogues, flyers and brochures have their place. Good old fashioned door knocking can work a treat, and nothing beats word of mouth and personal recommendations.
Online platforms like realestate.com.au and domain.com.au are the go-to options for most real estate agents. They are effective workstations that pool together every property available on the market and categorise them by area, amenities and price.
Social media also plays an increasingly significant part on property searches and the appointment of real estate agents. It helps to create an affinity, form a relationship and entice endorsements. If people like what the see on social media, a strong foundation can be formed.
And now we have 'Remarketing'.
It's clever, it's creative, it's a sign of the times - and it works. So what is it?
Do you ever feel like you're being followed by ads online? That odd notion that someone is looking over your shoulder and saw you checking out a TV show or a new outfit or a new car because all of a sudden similar ads keep popping up in your news feed?
Perhaps you remember searching for a new product and you recall clicking through to a bunch of relevant websites about different brands but you lost interest so you decided to continue searching at a later date? By some magic, a series of ads started appearing, showing you similar products and directing you to landing pages?
That sequence of events is known as remarketing. It occurs on search networks and involves new technology with marketing tags and tracking pixels that deliver highly personalised ads to people who have already shown an interest by visiting a relevant website or landing page but have not yet been converted.
Remarketing targets visitors with specific ads with the ultimate goal of convincing them to convert. These types of ads work because they are highly targeted and serve people with ads who’ve already expressed an interest in a product (or in our case, real estate). With the help of social media channels and search engines, they are reminded that they wanted to solve a problem and suggest a listing that offers the best solution.
Remarketing is a clever way to connect with your ideal market. It allows you to position targeted ads in front of a defined audience that has been searching the website for similar properties and locations.
Explains Sam Danckert, "As a consumer, I have experienced the power of remarketing. When surfing the internet I often find brands or products that seem to follow me, and I personally have been influenced by these and have purchased via these links. So I know that the concept is effective. One of my clients who I sold a holiday house for runs a leading web enhancement company in Melbourne, and he’s really at the cutting edge of leveraging online strategy. He spoke to me about this concept and I was very keen to test how effective it was in selling a property."
"It’s true that I love statistics and effective technology. When looking at how selling a property in the open market works, there is a basic truth under the law of averages that the more qualified people you can get at the top of a real estate funnel, the more probability there is that you will end up with at least one if not more buyers at the end of the process. The greater targeted awareness you can achieve the better. Remarketing isn't a scattergun approach. The audience is very targeted, so you can remarket to people who are specifically interested in real estate on the Mornington Peninsula based on their internet searches and profiles."
"The case of 35 Wonderland Terrace proves that remarketing is an effective tool that not many people are utilising. After around 21 days a listed property can start to go a bit stale in terms of interest generated, and this particular property had been on the market for 60 days so interest had flat-lined. I decided to develop a banner ad about the property with some eye-catching images and lead text intended to drive traffic to our website. The effect was immediate, with two new enquiries within three days plus five new inspections at the 'home open' that weekend. These inspections included one of the parties who made an enquiry and who ultimately purchased the property with an unconditional offer. The buyer hadn’t been looking in Mt Martha, he had been interested in Blairgowrie, so the exercise brought someone completely new to the area."
At Danckert Real Estate we engage new and interesting ways of promoting our Vendor's properties across a wide spectrum of initiatives. We look at innovative techniques for reaching a target market rather than taking the easier option of sticking with the basic, regular channels that most agents choose. We actively seek out avenues that provide an alternative and a worthwhile return on investment. At only around $550, remarketing involves a minimal outlay for a strong return, and in the right scenario it is well worth the investment.
For more information on how remarketing can work for your property, give Sam Danckert a call on 0432 444 040