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Real Estate Q4 Trends, Insights, & News You Can Use!
As we near the end of what none of us certainly would have anticipated to be such a historic year, this month’s edition of Now RE+AD This takes stock of where the real estate marketing industry stands today after lots of twists, turns, and unexpected jumps in activity.
Key Takeaways:
- A LOT of people continue to move around the country
- Technology is king
- Facebook is (again) shifting the ability for real estate marketers to measure their ad effectiveness.
The real estate market is unseasonably hot right now as people around the country are packing their bags and moving homes. New research tracking US Postal Service address changes reveals that more people have permanently and temporarily moved over the past six months than during this same time last year. This can be explained by the upheaval in life events, health, and finances that 2020 has brought on everyone.
Marketing agility and flexibility is key to successfully getting movers' attention and your share of the marketplace. Audience personas, targeting strategies and marketing plans you had in place may no longer be effective as people are moving for disruptive reasons and are looking for completely different things from their next home.
What has traditionally been a human-interaction driven industry, real estate is retooling and on the fast-track for mass technology adoption. In order to limit face-to-face interaction in the face of Covid-19, the real estate space is increasingly implementing tools like keyless entry systems, voice-activated appliances and automated messaging solutions. And the shift in consumer behavior toward a more digital home buying experience is now here to stay with virtual tour technology.
Facebook is changing its attribution model from 28-days to 7-days due to “privacy initiatives.” For real estate marketers, the inability to measure ad attribution handicaps one’s ability to effectively optimize campaign dollars and increase ROAS.
Undoubtedly, Facebook and Google will always be important players in the marketing ecosystem given the sheer size of their platforms. But, with this share of the marketplace comes the ability to dictate changes that affect your marketing strategy.
In order to hedge against the unexpected, sweeping changes these tech giants have been known to make, it’s important to diversify marketing dollars to platforms that offer specialization, control, transparency and the ability to properly measure in order to have a true understanding of the effectiveness of your advertising efforts.