The past 2 years were quite eventful for the real estate sector in India. You were greeted with demonetization, then GST implementation and further RERA. Each of these 3 elements had much to do with the way real estate marketing was done for buyer leads generation.
There have been a large number of conversations on how digital marketing is one of the best approaches for real estate lead generation. The way brands have pivoted their offline budgets toward online is living proof of the same. (I don’t mean to indicate that a brand should push all their offline media budgets to online, no that’s not true. But yes, digital is an integral part of your real estate lead generation strategy if you wish to create a brand online – where your audience spends approx. 4 hours every single day [source] and also generate high potential leads). There’s also a ton of information on what you should do and what you shouldn’t in case of real estate lead generation, but how much of it is true or rather tried and tested?
Having said that, this article focuses on the top real estate lead generation tactics that you could use and expect definite results.
The below methods can be used for the following categories of real estate segments:
- Investment properties in the outskirts of a city
- Residential properties in the heart of the city
- Plots near metro cities
- Second homes near metro cities
- Luxury gated communities in metro cities
Top real estate leads generation ideas in digital marketing:
1. Google Ads
Cost per lead will be high, conversion ratio will be high, time from lead to end sale is low.
You’ll find targeted leads of people with an intention to buy a property, actively looking for properties and hence purchase decision will be sooner.
2. Facebook Ads
Cost per lead will be low, conversion ratio will be low, time from lead to end sale is high.
You’ll find fence sitters who’re curious to know more about the property, may or may not be interested in a purchase right away.
Cost per lead is average, conversion ratio is low, time from lead to end sale is high.
You’ll find fence sitters who’re interested in a specific feature about the property, may or may not be really your target audience.
Cost per lead is high, conversion ratio is low, time from lead to end sale is low.
You’ll find professionals who’re quick decision makers, need to showcase the property as an investment.
5. Search Engine Optimization
Cost per lead is low, conversion ratio is high, time from lead to end sale is low.
The best way to generate real estate leads in the long term, but pretty time consuming at the start.
Typically, a real estate builder or broker should begin with the first 2 options from above and simultaneously start SEO (point 5). Meanwhile, experiment with 3 & 4 to check if a sweet spot in terms of lead cost and end conversion rate is possible.
Check out this answer on Quora to see what are the top things you need to keep in mind before you begin any real estate lead generation campaign.
Now that you have a fair idea on what are the top methods/ideas for real estate lead generation, here’s some clarity of thought. If you were to compare the leads generated from digital with the leads you get as walk-ins to your property, then you’re up for disappointment. Remember that a walk-in is like an inbound lead. He’s already interested and hence he’s taken an effort to put his time and visit your sales office. On a scale of 0 to 10, their interest could lie between 6 to 9. On the other hand, these online leads have ‘shown’ interest by clicking twice or thrice, or max effort is typing in their name, number, and email ID. And hence, there’s a good chance that they want to take their time in understanding the proposition you have to offer, maybe check out a few competitors, speak to a few friends and then maybe think about taking the effort to visit your demo flat or sales office or site office. On a scale of 0 to 10, their interest lies between 3 to 8.
So what do you do to enhance their interest? Answer: Nurturing Leads.
Nurturing leads is an integral part of the lead generation (and the one that most lead generation specialists don’t take up seriously). Once you have a set of leads who’re interested, you need to send them communication via various digital methodologies. Some examples include using the database as custom audience on FB, Google, Linkedin, etc. and reaching out to them. More on lead nurturing mechanisms in the next article in this series.
Reach out to us to know more about real estate lead generation. We’ve dealt with several real estate companies across the country with digital campaigns for lead generation. Call on 8097531225 or email on [email protected] for more information.