We all know we need an online presence, but how does digital marketing compare to traditional marketing techniques when it comes to bang for your buck? REB spoke to two industry leaders to find out.
“The first advantage is survival. Unless they embrace digital marketing, they’re not going to survive based on what’s happening in the marketplace,” CEO of Estate Agents Co-operative Ltd, David Crombie, said.
Luckily for agents, digital marketing is easier and cheaper than traditional print marketing, and it has superior longevity.
“The main advantage is they can do a lot of it for free. It just takes their time. There are some things you can be doing even as you wait for a meeting,” Bluewire Media’s Adam Franklin said.
“Plus, what you do in digital marketing doesn’t evaporate like an advert in a magazine. If you publish content online, it is there next week, next month, next year, and you’re really building an asset by publishing helpful, useful information to the web.”
There are many different avenues you can explore with digital marketing. While this may seem daunting, it actually gives you flexibility to choose what suits you and your audience best.
“Because a lot of these channels are low cost or free agents can create brand awareness quite cost effectively,” Mr Crombie said.
“Agents can also gauge return investment on their marketing, whether it be through Google analytics or insights on Facebook. A lot of the social media channels have free tools agents can use to gauge the success of their efforts.”
Another key advantage of digital marketing is the wider audience that is available to you. All you need to do is find the best way to connect with them.
“Traditionally agents would have done letterbox drops or advertising in the local publication in that local area, but with the internet and digital marketing, an agent’s reach can be much wider now,” Mr Crombie said.