Online commercial property traffic has doubled since the invention of the iPhone; CRE marketing must now adapt to capture these valuable leads
The market is changing fast. Buyers are still making purchases, but the way they research them and choose properties has changed. Instead of waiting for agents to send a brochure, they’re seeking information for themselves.
Whether you believe the conservative estimates of 30% or the digital marketing evangelists’ 69%, more and more of the buyer journey is going online before consumers make contact with traditional consultants.
Research in 2014 showed that 87% of tenants and investor searches went online, and 50% of successful transactions were sourced from a search online. 62% believed that searching online is a good way to find a broker (Source: Google + Loopnet).
These figures are already three years old – and they are only going in one direction. Online CRE searches increased by over 60% between 2008 and 2014. By the same growth rate from 2014-17, searches involving online would today be close to 100%. Prospective buyers are going online for information regularly and predictably – it’s the agent’s job to be their answer.
That’s where the ‘inbound’ or ‘content marketing’ approach comes in to take advantage of this rapid shift. Outbound tactics such as email spam, magazine adverts and event sponsorship are often used, but unfortunately, they’re also often ineffective. There’s no guarantee your efforts are reaching the right people, and even when they do, you’re just one among many, and it’s difficult to link these tactics to the bottom line.
In short, outbound marketing is tricky to target, easy to ignore, and difficult to measure. Fortunately, there is now a better way.
Download our free commercial property digital marketing guide, compiled by marketeers and commercial agents to find out:
- Why do you need to attract the right kind of leads?
- What are the best practices for digital marketing?
- How do you measure digital marketing success?
- What is the difference between SEO and Inbound Marketing?
- How are Realla’s clients harnessing the online marketplace to improve performance?