Significance of Digital marketing in the Real Estate Industry of Pakistan

 
 
 
Significance of Digital marketing in the Real Estate Industry of Pakistan

A large number of people go online every day due to the rising accessibility of the internet and the advancement in technology. From millennials to baby boomers, every generation uses some sort of digital gadget for entertainment, information, or to stay connected. As a result, all economic sectors use digital marketing to reach these people and grow their businesses. Digital marketing is effective for all industries, including the real estate industry. In Pakistan, the real estate industry is growing rapidly, and so is the competition. As a result, real estate companies are adopting innovative and unique digital marketing strategies to make their mark in the competitive market. These corporations and agencies try to target potential clients online by building a unique brand identity and brand awareness. This is changing the dynamics of the real estate industry completely. Online availability of up-to-date information about the latest market trends, real estate services, property value, and scam alerts leads to more awareness among investors. Digital marketing has enabled a hassle-free and easy real estate experience for buyers, sellers, and investors. One cannot deny the significance of digital marketing, as it is a need for real estate companies in Pakistan. It can help these companies reach their maximum potential and contribute to the state’s economic development.

Benefits of Digital Marketing in Real Estate

Easy access

Digital marketing has enabled investors to browse through a wide variety of options from the comforts of home. Virtual property tours, buildings, houses, etc., are available on the real estate company’s websites. Moreover, instead of waiting for in-person meetings, agents can share property findings with the clients via emails or video calls. Some digital real estate companies also provide property inspection and verification services, making the entire real estate process a lot more convenient. Information regarding new projects, sales, investments, etc., is easily accessible to interested customers.

Helps Increase Sales

Real estate companies can increase their sales by adopting and implementing strategic digital marketing techniques. Digital marketing allows real estate companies to specify their target audience based on demographics and choose the prospective investors and clients the company wants to work with. Moreover, an active online presence builds the trust of clients who invest in companies with a successful brand identity and awareness.

Reduces Dependency on the Middleman

Digital marketing has resulted in more informed clients, which lessens the chances of fraud or malpractices. It has made the real estate journey easy by reducing the dependency on the third party or the middleman. Buyers, sellers, and investors can make deals, finalise documents and negotiate directly with the advisor or agent through an efficient and transparent management process.

Helps Build a Larger Pool of Clients

Digital marketing aids real estate companies reach more clients, which helps the company develop a larger pool of clients. A list of satisfied and potential clients on the company’s website acts as a strong record track that attracts more clients. Moreover, the feedback of investors on the company’s website act as social proof, showcasing the company’s credibility and commitment.

Availability of Information and Data

In this digital age, buyers, sellers, and investors go online and search the internet for information instead of going directly to a real estate advisor. Digital marketing enables real estate companies to update their websites, social media, and web content with information that gives the clients a clear image of the real estate industry in the country and its available services. This helps clients make better investment decisions.

Creative Opportunities

Digital marketing is full of creative options and opportunities that real estate companies can use to appear different from their competitors. The options are endless, whether interacting online with the clients, running marketing campaigns, or using advertisements designed for the specific target audience according to their demographics. If companies can think outside the box, they transform their imagination into reality with the help of digital marketing.

Challenges of Digital Marketing in Real Estate

Expertise and Training

Real estate companies require properly trained employees or working staff to keep up with the changing demands, methods, channels, and trends of digital marketing. These real estate companies need to remain up to date and should have the necessary technical and creative tools and skills to attract clients.

Growing Competition

To reach a global audience, the majority of real estate companies now provide online services with the help of digital marketing. As a result, the buyers, investors, and sellers have multiple options to choose from. Real estate companies need to develop campaigns and well-thought-out digital marketing strategies that are unique, creative, and different from the previous ones. A dull or repeated approach to target the potential audience will be of no use and force the company out of competition in no time.

Time-Consuming Process

Web development, content development and optimisation, online advertisements, and making and implementing unique marketing strategies are time-consuming activities. Real estate companies spend a good amount of money and time to keep their websites up to date. Inefficient tactics and weak strategies may affect the performance of the company overall and may lead to difficulty in devoting desirable time to a campaign.

Technology Dependent

Real estate companies need fast internet and updated technologies to optimise their websites effectively. The clients switch to other companies in case of errors in the landing page, no access to the website, or non-functioning of links or buttons. Therefore, companies must constantly check the website’s functioning and test campaigns and advertisements.

Digital Marketing in the Real Estate Sector of Pakistan

Digital marketing has opened the doorways to massive opportunities for real estate businesses. Today, well-known real estate brands are using digital marketing to stay on top of the market. Even small real estate businesses are following the footsteps of these big names to claim their market share. Seeing most people surf the internet and social media, these companies use it as an opportunity to reach their target audience via digital marketing. Similar practices have been observed in the growing real estate industry of Pakistan. Since the competition in this sector is dense, an active online presence makes a huge difference. Digital marketing has enabled these companies to connect with 82.90 million of Pakistan’s audience that goes online daily (Kemp, 2022). Moreover, these companies must build a name for themselves in the competitive market to stand out. They are not only targeting the local audience but are also expanding their pool of clients residing overseas.

Before digitisation in the real estate sector, buying, selling, and investing was a difficult and costly experience in Pakistan. Lack of transparency, illegal housing schemes, and fraudulent malpractices resulted in fewer investments in this sector. However, digital marketing has built a powerful reputation, brand awareness, and transparency for these real estate companies, which has helped them generate organic traffic. One of the prominent features of digital marketing is that it helps increase sales. For example, in 2021, an American real estate company Zillow earned a revenue of $1.9 billion through online tools, mobile apps, and search engines (Mariotti, 2022). Pakistani real estate companies have also observed a massive increase in overall revenue through an active digital presence.

Moreover, many challenges have been overcome due to the digital revolution in the country’s real estate sector. It has restored the confidence and trust of buyers, sellers, and investors both in and outside the country. Following are some digital marketing strategies that can improve the efficiency of real estate companies in the country.

Digital Marketing Strategies for an Efficient Real Estate Business

Build the Company’s Website

People always browse the internet before renting a house, buying a property, or making an investment. They do not rely on traditional advertisements or campaigns in this digital age. So, the real estate company must have a user-friendly website that provides all the information about the company’s business, offers, projects, and properties. Links, photos, social proof, and a live chat feature make the client’s experience much easier. It also helps in building the company’s identity and brand awareness.

Join the Social Networking Sites

The popularity of social media among users can help the company find potential clients. Real estate companies should aim for all the popular social networking sites such as Facebook, Instagram, YouTube, etc. Maintenance and updating these social media pages with relevant content, exclusive offers, amazing deals, and advertisements can add to the company’s pool of clients.

Content Development and Optimisation

A real estate company should regularly develop new and useful content for its website. Investing in real estate is a huge decision; it always comes with lots of questions and concerns from the clients. If a company’s website gives all the required information, advice, and solutions, it will ensure the clients revisit the company for help in the future. Content development and optimisation also help a real estate company build a reputation and credibility.

Portfolio

An active online presence acts as a resume for the company. Clients feel comfortable doing business with well-recognised, popular, and authentic companies. The real estate company should encourage the clients to leave reviews on their websites, blogs, and social media pages. This encourages and attracts new clients to do business with the company. Social proof shows the clients that the company has solutions to their problems and can assist them with their investments.

Conclusion

The majority of the audience uses digital media for various purposes. Therefore, real estate companies have also switched to the digital world to keep up with the demands and needs of prospective clients. Since the competition in the real estate industry of Pakistan is growing, the companies with an active digital presence stand out the most. Digital marketing allows these companies to create a unique brand identity and awareness. These companies are spending a lot of money and time on digital marketing, so it could help increase sales and build a larger client portfolio. The possibilities of digital marketing in real estate are endless, but Pakistan still has a long way to go to truly acquire its benefits.

References

Kemp, S. (2022, february 16). DATAREPORTAL. Retrieved from DIGITAL 2022 PAKISTAN: https://datareportal.com/reports/digital-2022-pakistan#:~:text=Pakistan’s%20internet%20penetration%20rate%20stood,percent)%20between%202021%20and%202022.

Mariotti, T. (2022, June 24). RubyHome. Retrieved from https://www.rubyhome.com/blog/zillow-stats/

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