Can Real Estate Marketing Be Effective and Affordable?
Here’s how digital tactics help you use your budget wisely and reach your audience.
by Jenifer Calandra
T he exclusive new luxury com - munity you’ve been working on is finally pre-leasing, and it’s time to find residents to fill available units. You hope that people have driven by and seen the impressive construction for the last few months and that news has spread through word-of-mouth. But it’s 2023, and word-of-mouth isn’t what it used to be. Instead, you need a real estate marketing plan that will produce signed leases—without overspend - ing before your property can turn
a profit. Yes, this kind of market - ing campaign exists, and it gets your apartment homes, condos, or other investment property in front of the right potential resi - dents at the right time, without putting your finances in the red. It’s time to go digital with your marketing tactics. Here’s how. HYPER-TARGET YOUR DEMOGRAPHIC. Consider how traditional media works. You advertise your properties
or investment opportunities in a print publication or on network TV. Both types of outlets can vaguely describe who consumes their media based on household demographics, Nielsen studies, and other methods. But you can’t further drill down to audience segments by personal interests, income, location, employment, and more. In fact, there’s little guaran - tee that your ad will be served to your audience. Digital marketing, however, allows you to put your ads in front of your target audience with greater precision than ever before. You can drill down by ZIP code, household size, income, and other factors to home in on exactly who you want to see your ads. REACH OUT TO YOUR AUDIENCE ON THEIR PREFERRED DEVICES According to the Pew Research Center, just 23% of Americans report reading a print newspaper. Similarly, surveys show that the percentage of Americans who watch cable or satellite TV has dropped to about 56%, meaning your audience is less likely to even see a traditional ad. So where do people consume their media? Online, of course! And they’re
18 :: INVESTOR REVIEW :: JUL-AUG 2023
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