Luxury Real Estate Marketing Ideas: Examples and Reasons
The real estate market is a difficult subject in Internet advertising. While the luxury real estate market grew by nearly 15%, and prices increased by 20%, according to The Report:
Here there is high competition, a relatively small number of targeted queries in the search network, a long decision-making cycle by the final luxury home buyer, and individual characteristics of the objects. Any type of residential or business complexes promotion for luxury classes requires an individual approach.
In this regard, the issue of a competent start is fundamental – the correct setting of advertising campaigns oriented at your product and audience, the choice of budgets (reasonable prices are essential), creatives, and key trade offers.
Working in development, you know precisely how fastidious the buyer is. Modern technologies and rhythms have made people impatient and meticulous. Hence, sellers face new challenges every day and are looking for ways to interest the client in a new way. These processes, in turn, stimulate us to find solutions for such problems, one of them being an interactive 3D master plan of real estate. Dynamic and innovative – this technology looks much more attractive to the client, creating a popular immersion effect today.
Primary luxury real estate marketing ideas
Motion is life. You can never stop looking for sales channels – you must always look for new marketing ideas for real estate and update old ones. This is a harsh reality – any advertising campaign or marketing policy requires constant changes. Over time, they become uninteresting to the user, and their CTR (click-through rate) goes to zero.
In marketing, there is a system of characteristics or metrics that can be used to analyze the effectiveness of channels. Customer acquisition cost (CAC) is the amount of money spent by an agency to attract each individual customer. Channel capacity is a parameter that shows how many customers the channel is able to reach. Launch speed – there is such a thing as “design power.” The launch velocity of a sales pipeline is the speed at which it was able to achieve this metric.
Moreover, different channels show different speeds. For example, contextual advertising is considered the fastest. ROI – return on investment over time. This is the most accurate indicator, which is usually calculated as a percentage. And at the same time, it is the most difficult to estimate.
The question is simple, “How to market luxury homes?”
So, which are the most efficient marketing tools for luxury real estate?
Search optimization / SEO
SEO optimization is one of the foundations of successful online sales in terms of luxury real estate marketing materials. It is SEO that promotes your website or other Internet resources to the top of a search query, which means that it guarantees that there will be high traffic of views, which leads to a purchase by a local or international buyer.
Contextual advertising / PPC
Contextual advertising is familiar to all Internet users. Contextual advertising is a type of Internet advertising in which the advertisement is displayed in accordance with the content and the context of the Internet page. This is a channel with one of the fastest ways to get leads.
Custom luxury real estate websites
This type of marketing is crucial for your luxury real estate business as it represents your brand. It is like your company’s business card in the 21st century, as everyone always checks it out first thing after the contact. Make sure to tell your story, dive the visitors into your property, showing videos, photos, and outdoor plans, and even involve drone operators and professional videographers to create wider views of your luxury property for sale. There are dozens of video marketing ideas for real estate agents and companies to make your website stand out among others. Some companies also opt for landing pages, which are other effective ways of representing your main business idea.
Word of mouth or WOM marketing
Probably, the most effective marketing channel is the method called “word of mouth.” Recommendations from acquaintances or simply overheard in a conversation, a respectful statement in relation to a certain group of goods affects people better than any advertisement. And with the highest quality, it is also a permanent clientele. To receive recommendations, you need to constantly maintain contact with former clients and provide them with discounts and bonuses. For realtors, referral marketing is the main channel for attracting customers.
Social media advertising
A simple and fast tool for attracting new customers from your target audience interested in your luxury real estate. According to the National Association of Realtors, 76% of homebuyers used their mobile device or tablet in their home search. When receiving leads from social networks (usually Facebook, TikTok, YouTube, and Instagram), this channel not only allows you to create a database of interested contacts but also provides communication with them on at least two channels. Moreover, it is the best one among creative real estate marketing ideas. This is direct contact using the phone number received from the application or getting back at them through the social network profile or messenger through which you received the application. People mostly consciously “Submit an application.” Although there is still an error, it all depends on the targeting settings. “Strengthening the intention” will help to improve the quality of applications. Therefore, with the help of additional questions (for example, “Do you need installments or are you ready to pay 100%?” or “Are you interested in an apartment?”; Answer: YES or NO), it helps to filter out low-quality applications to sending the form. A significant advantage is the synchronization of leads, that is, connection to CRM systems or other tools with which you work.
With over 90% of buyers beginning their real estate search online, it’s critical for the photographs and videos of a luxury home to be experienced and nothing but the best! It will also play a crucial role in your digital marketing campaigns, as a social video has been shown to generate 1200% more shares than text and images combined.
PR (Public Relations)
Press releases are often a free way to promote your business. Every time a company has something to announce about itself, it must create a press release – an information message for the public through the mass media. The information may relate to receiving awards, appointments, personnel changes, and other actions but should be presented according to clear rules. It should always be short and focused on one ad. Since press releases are often used as a means of promoting a business, they are mainly written by advertising agencies.
Search engine reputation management or SERM is a tool that is necessary to create a positive image of companies, brands, communities, or private persons if this person is public. SERM is a set of methods, with the help of which a positive “face” of the brand is created in the virtual space. According to research by Dan Hinckley, a company risks losing up to 22% of customers if users who are considering buying your product or service find just one negative article. Suppose three negative articles appear in a search query, the probability of losing customers increases to 59.2%. Most companies start using SERMs when they already “smell like roasting” and begin to correct the situation. By using this tool consistently, you will not only help prevent sales from falling, but you will also increase sales and become a successful seller. This channel is closely related to PR, SMM, and SEO and requires budget redistribution between them.
Working with influencers (opinion leaders)
“Working with opinion leaders,” “collaborations with opinion leaders,” and even introducing a new position in the staff – “manager of work with opinion leaders.” An opinion leader is a powerful tool for communicating with different audiences, attracting the attention of the right audience, and supporting and promoting the image of a particular luxury real estate brand. How to encourage thousands of people to choose your brand, your service, or your product? Of course, thanks to the trusted opinion of influencers and famous bloggers. The more positive reviews there are, the more the right people will choose you and buy your product or service.
Content marketing should be divided into promotion using third-party blogs (guest posting) and using your own blog. Marketing luxury homes, consider using both.
Content is a variety of information that will directly or indirectly promote the product, win new and maintain a permanent customer base. This is not a direct advertisement, there may be no call to buy at all, but with the help of reviews, articles, and video conferences, an attractive image of the brand or company will be formed.
Own luxury blog
Your own or your company’s blog should be exciting and informative for your audience and open to comments. Again, think about what is relevant to your customers and prospects. If its content adheres to a particular topic, the blog is able to attract and maintain the interest of its audience.
Virtual Reality real estate tours
Incredible popularity has been gained by VR technologies involved in luxury real estate marketing ideas. This state-of-the-art tool helps you immerse people into your property without missing out on any essential details (entertainment space, parking lot, expansive terrace, etc.). It is like a real-world showcase of your luxury property and is bound to attract more customers. Video has quickly become an essential part of all real estate marketing, and 88% of marketers say video marketing provides them with positive ROI.
You may showcase virtual tours on your website and/or social networks. In all cases, you aim to target as many potential buyers as possible. Make sure to present the high-end homes of people’s dreams as it is.
If you compare the common real estate market with a luxury one, you may notice that the latter is much slower. The thing is that such property targets other audiences with a few other preferences. Using these luxury real estate marketing ideas, you are able to reach high-end buyer expectations and attract attention to your business.
Make sure to create a marketing campaign that will not just show the luxury property you sell but the entire brand. Tell people your story, build their dream homes and stay ahead of the market. Luxury home marketing is not the easiest task, though. Host an event, upgrade your website, cooperate with a reliable digital agency (SEO, PPC, email marketing, and other marketing tools to engage), and create a breathtaking VR tour. These and other ideas will help you turn this process into an immersive experience bot for your customers and company.
Why should you use Luxury Real Estate Marketing Materials?
When involving luxury real estate marketing materials in your campaigns, you are able to build a trustworthy and powerful brand, generate more potential buyers and boost your sales. What is more, this way, you are able to provide your high-end buyers with a top-tier experience fulfilling their expectations.
How to Market Luxury Real Estate
There are many tools for luxury real estate marketing. The most efficient and popular among them are the following:
- Social media marketing
- Hosting events
- Custom websites/Landing Pages
- Virtual tours
- Word-of-mouth marketing
The most compelling way is to combine all these methods together and get as much traction as possible.
How to leverage Real Estate Digital Marketing
The best way to leverage your digital marketing for luxury real estate is to use the following pieces of advice:
- develop and maintain a multi-channel strategy
- connect to Google analytics and other end-to-end analytic tools
- be close to your target audience
- build a strong brand name and increase brand awareness
- conduct key metrics optimization
Tips for Selling a Luxury Home: Is the Price Right?
Selling a luxury property requires top-notch advertising techniques. The most significant and adequate method is VR tours, which you include in your marketing strategy. Quality always goes over quantity. It is not about how many videos, ads, posts, or articles you publish but what the quality they are. Cutting to the chase, the main tips are:
- virtual tours
- audience profile
- brand portrayal
- reasonable price
The price is right when it represents the actual condition of the property. Going too high is as unreasonable as going too low. The task is to set the proper market value considering all the factors.
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