Like any other industry, the real estate industry seeks to maximize its benefits and reduce its costs, so it must apply the best methodologies at its disposal, such as growth hacking.
Growth hacking is based on active experimentation and seeks to quickly and efficiently test the actions that bring the highest profit at the lowest cost. To discover these actions, the growth hacker will first study the business funnel to identify the part of the funnel where the most customers are lost.
After this we identify the key metrics to measure the growth of our real estate company. In this case they could be new strategic partnerships, number of houses sold annually or churn rate.
Once we know these metrics we need to set objectives. It is easy to know that we need to increase the number of houses sold or that we should decrease the number of people who decide not to buy at the last minute. However, this is not enough; objectives must be SMART (specific, measurable, achievable, relevant and time-bound). To decrease the churn rate by 10% in 3 months would be an example of a SMART objective. These kinds of objectives being specific make it possible to focus on them, being achievable they increase the motivation of the staff to achieve them and being measurable it is possible to know if they have been achieved or not and by how much.
To achieve our objectives we will have to establish growth drivers, strategies aimed at maximizing the growth of the business. By means of experiments we will test their effectiveness in order to keep the most effective ones and modify or discard the rest.
Possible growth drivers for the real estate industry could be inbound marketing, big data, remarketing or real estate consulting. Which one is more convenient for us? Which one should we focus on? This is what we are going to test through the growth hacking methodology.
Digital channels have become increasingly important for communication. Marketing and sales technology has long been adapted to the online environment, and there are success stories across industries that demonstrate its potential. The real estate industry´s digital marketing strategy is absolutely eye-catching if done correctly. How do we take advantage? That´s the million-dollar question.
Webinars can be a good way to create added value to your customers.
You can organize seminars for owners through face-to-face real estate marketing activities, but you can also use the webinar format. We can study the interest of users in online sessions, measure the pre-registrations and the possible amount of contacts if we initiate this modality and contact them after the webinar is over. We can also study conducting webinars to train other industry professionals so that we can position ourselves as referents and gain authority in knowledge.
Digital and real estate marketing departments make a good team, especially when you learn how to use formats to stimulate commercial sales. Content is the best way to attract potential clients, and video content for real estate means two very important things: saving time and money. Creating a digital profile that allows you to appreciate the property in a realistic way can save you dozens of meetings with clients who only want to visit the property. This way you will only make visits with people interested in buying.
- How can we get the most out of virtual tours?
- What is the right method?
- How do we generate customer interest?
- How can we create added value for customers?
- Which niches should we focus on?
If we answer all these questions and more, we will eventually find the right marketing strategy. To do so, we will have to design numerous experiments, which will help us to better understand the business. It will be essential to write down these answers in order to be able to progressively develop a large bibliography in which to consult what works and what to avoid.
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