News and Views

Zeroing in on Your Target Audience

June 5, 2024

In the world of online dating, first impressions are everything –and a solid profile is what makes the difference between a swipe left and swipe right.

Real estate marketing is no different in this sense. In a digital era where potential buyers have hundreds of thousands of online listings vying for their attention, presentation, location and a little charm make all the difference.

Understanding who you are trying to attract and what they are looking for is key in ensuring your listings reach the right people, stand out and get their clicks. Here are some things to consider the next time you’re fine-tuning your marketing strategy to find the right matches.

 

Map out your target territory

These days, personalised marketing is no longer a nice-to-have but a must-have. It is key in reaching the right people at the right time with the right message. A study by McKinsey found that 71 per cent of consumers expect companies to deliver personalised interactions and 76 per cent get frustrated when they do not get them.

In the context of real estate, your target audience is likely to consist of different segments with unique needs and preferences. Each segment naturally requires you to tailor your approach to specific demographics and even geographical areas.

For example, if you’re trying to target retired couples looking to downsize their apartment, you might focus more on highlighting the convenience and accessibility of the neighbourhood the property is in. Young families with children, on the other hand, might want larger homes that are located near schools and amenities like playgrounds or parks, while first-time homebuyers are the group most keen on getting more bang for their buck.

That said, do not rely on static buyer personas, as markets are constantly in flux and buyer preferences will also change accordingly. To avoid losing touch with your target audience, conducting consistent market research to keep up with the trends is essential.

 

The medium is also the message

Choosing the right channel is just as important as the message itself. Once again, this hinges on the preferences and behaviours of your target audience.

More tech-savvy target groups are used to accessing information online and respond more favourably to social media marketing. Close to 80 per cent of homebuyers  use online resources at some point in their housing search, while 33 per cent of millennials spend nearly 14 hours a week on social media doing so.

And with the number of buyers visiting open houses on the decline, video marketing might be a better alternative. US-based marketing and sales platform HubSpot found that 83 per cent of video marketers say video helps them generate leads. Virtual open houses or neighbourhood tours should be no exception, especially since they allow buyers to view a property more thoroughly than they would through pictures without having to make a physical trip.

Ultimately, real estate is a people-centric business. Having a nuanced understanding of your target buyers’ behaviours, needs and preferences is a prerequisite to crafting compelling messages that resonate with them. After all, first impressions matter, especially if you want to take things to the next level and secure those sales.

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