Inbound in real estate
Innovating in the real estate sector is not something simple.
How is your company adapting?
We maintain that this industry has changed over time (Like all the others too), but this exciting world of real estate, developments and projects underwent a radical change that is becoming more and more accentuated year after year. Do you think the same?
At present, as is known to all, the information of whatever is on the Internet. Today buyers are much – exaggeratedly – more informed and consequently demanding with the purchase of real estate.
This is the rough explanation of Why does it cost so much, but so much to sell a property these days regardless of the market and country situation?
But let’s go back a few years earlier: What was the business process like?
Some time ago, the variables that exist today were not so present, these are, for example:
- Greater competition.
- Lower barriers to market entry.
- More information from buyers.
- Power in the business process.
- More communication channels.
- Less effective advertising and / or commercial actions.
But sadly, this changed. And it changed radically. You have surely noticed. In days like the ones, we are living in, the internet managed to make other players appear (like Airbnb) and the market to become more atomized every day.
This made it possible to lower the barriers to entering the market, so you find yourself with competitors that did not exist before, that you did not know. And they are taking part of the market share. (This worries, right?).
As well, I want you to see this concatenation of events:
- Google and Facebook appear. (More communication channels apart from radio, tv and newspapers).
- People can get more information from many places.
- Information is power. (Now the buyer has the power to know more).
- People are no longer influenced by salespeople or sales speeches (Less effectiveness of advertisements and / or commercial actions).
What are buyers looking for?
Let’s start from the base defining, and establishing who are the potentials in the industry:
Investor buyers: Those who seek to buy real estate only for long-term investment. (This category may be more specific, such as those who buy to rent as temporary units, or for their estate, etc).
Buyers to live in: They are those who want to live in the property they buy.
Self- managed owners: They are all those who have one or more properties and manage their own administration of them, contracts, tenants, contingencies, sell their own property, etc.
Owners who outsource: No matter how much they have a property or several, they prefer to forget about the problem of managing these assets, so they are entrusted to real estate agencies like Tajarat properties, private agents, people who are fond of this, administrators, etc.
Well, there may be more, and even within each of these categories you can be much deeper and more specific. (Example: Investor buyers who are directors of an SME with more than 70 employees).
But, finally, the idea of showing it like this is to show that we ALL HAVE DIFFERENT PROBLEMS, therefore, we are all interested in different things, we have very varied interests, and that is what it is about, to capture attention. So, as if to summarize what these buyers are looking for, we can determine it like this:
- Investor buyers: Zone, price / quality, re-sale time (liquidity), monthly income, etc.
- Buyers to live in: Area, lighting, distance to your work, space for children, common expenses, security, etc.
- Self-managed owners: How to better organize with their properties, draw up contracts, common problems with tenants, etc.
- Owners who outsource: How to choose a real estate agent, real estate price and commission, organization, etc.
What actions does the industry do?
But … And how was this change in the way of reaching new potentials from companies?
They realized that they needed, apart from their website, a website for each undertaking. Then, it was key to think of “The model unit” in a showroom. This connects the buyer’s experience with what we sell.
They began to aggressively advertise on Facebook, on property portals such as Zonaprop, sumaprop (Does Inbound Marketing), etc. People on social networks started to get tired and therefore the number of people they reach is less and less, and worse still, fewer interact.
They began to carry out massive email marketing campaigns, but with a low open rate, low click-through rates, and consequently, few sales from this channel.
Why? Because they send by sending to a contact base who do not know if they think of buying to invest, to live, or if they are people who would never, but never invest in bricks.
Pretending that a single message is effective for many people is like pretending that there is only one size of clothing for all.
While everyone is trying to innovate all the time, no one talks about the interests of every potential buyer in the industry.
Few meet these needs. (Opportunity detected).
Inbound marketing in real estate
Before starting with an Inbound strategy in real estate (Construction or real estate), you have to study the buyer personas (Those detailed above) thoroughly.
Then, we must recognize these stages through which the buyer passes, better known as buyer’s journey or buyer’s journey.
The explanation for this is that in the first stage of discovery, a potential buyer realizes that he has a problem, such as: “I need a larger home”, then in the consideration stage he will look for alternatives to solve it, he knows that you can rent or buy something new, and you will see the options you have in different locations, depending on your routine, etc.
(But you won’t see prices yet.) Then, in the decision, you are ready to buy, which will focus on the forms of payment, the price, and the amenities between one venture with another, etc.
Now yes, once we have this clear, we start with the Inbound methodology.
With this methodology we seek not to be intrusive, rather to be perceptive according to each person and their interests. We don’t want to disturb her, and we even seek to provide help all the time.
It is a growth model that seeks to generate a machine for creating customers and opportunities. As more time passes, better results are seen. There is even a study carried out by an MIT student where she scientifically reveals the results of using an inbound strategy.
Suppose your name is Julian, and you are an investor buyer who is X years old, and that you already have several properties in your estate, but you have doubts whether this type of investment is profitable in the long term, then you are in doubt whether to sell everything and do something different or continue with this strategy.
Discovery: Is it a good investment to buy real estate?
These types of problems are frequently searched on Google, with a high rate of monthly searches, for example, on the topic “in what to invest in Argentina”, this is the average number of searches in recent years and the trend:
As you will see, it is becoming more consistent and gradually greater. At this stage, people are only looking for information to know where they can invest, they know they want to invest, but they don’t know in what. So, here there is a new business opportunity.
How do we get their attention?
First, we determine 3 key phases. TOFU (Top of funnel = Top of funnel) / MOFU (Middle of funnel = Middle of funnel), BOFU (Bottom of funnel = Bottom of funnel).
A TOFU content is for someone who is in the discovery stage, while a MOFU content is for a person who is considering solving their problem (Consideration), and finally, a BOFU is for someone who is already decided or about to make the purchase decision.
Imagine that you find an article on Google that says: “Investments: What if and what not in Argentina in 2018.” Won’t you like to read it? Of course!
Even at the end of the article, you find a button that says: “Download the spreadsheet to know the real profitability and its variables of any investment.”
Downloadable TOFU: Worksheet to calculate the real profitability of any investment.
Data to request in exchange:
- What investments are you most interested in?
- Short term (3 months)
- Medium term (6 to 12 months)
- Long term (+12 months)
Then, after a few weeks, you receive a personalized email that talks about the subject according to your choice based on the question: What investments are you most interested in? and in the email they recommend a specific article that is about “Julián.
5 reasons why to invest in real estate in 2018”, but the best thing is that at the end of the article there is a button that says: “Success story: See how Pedro Gómez was able to capitalize his equity in X% in X time ”
Wow! There it calls your attention much more, because it was just what you had doubts, if a property was an option for you or not, if it is safe, profitable, or not, what other things you can do too, and Pedro is an investor too, then you feel very identified with him, you want to read the case, and you download it. But of course, with a little more key information that they ask of you.
Downloadable MOFU: Success story: See how Pedro Gómez was able to capitalize his equity in X% in X time.
Data to request in exchange:
- What budget do you have to invest?
- From US $ 0 to US $ 30,000
- From US $ 30,000 to US $ 50,000
- From US $ 50,000 to US $ 100,000
- More than US $ 100,000
What is the main reason for your investment?
- I want to save.
- I want to capitalize on my family.
- I want security.
- Are you interested in investing in?
- 1-bedroom apartments.
- 2-bedroom apartments
- 3-bedroom apartments.
A few weeks later, you receive an email from the real estate company that has been helping you with your purchase decision for almost 1 month, and invites you to know all the ventures that they have available to buy, with their values, differences, pros and cons.
You enter a specific one that draws your attention more than others, this is the “X Golf club”.
As we know that you visited the X Golf Club website, we will send you the catalogue with all the amenities of the complex, and even an invitation to go to an after office that we have organized this week in the place so by the way you know it.
Downloadable MOFU: Brochure of each specific undertaking.
Data to request:
- Are you interested in a specific undertaking?
- Entrepreneurship 1
- Entrepreneurship 2
- X Golf Club
- Do you play any of these sports?
How many are in your family?
They don’t even know the sellers and they already know everything about us.
So, it is today.
If a person completed all the items that we requested (in exchange for something valuable), from TOFU, and MOFU, we already practically know if they will buy from us or not. True?
So, at this stage, you who are with several ideas in your head, you realize that you already feel affection for us, because we have known each other for 2 months and we never try to sell you.
(That seems weird to you, and you like it), so you just received an email that says: “Julián, shall we talk?”, You open it, you go in, you see a meeting agenda to have a conversation with Andrés, a consultant from our real estate company blue world city islamabad. Agendas, and voila.