Digital vs. Traditional: The Evolving Marketing Tactics in Real Estate
The New Zealand real estate market has undergone significant changes in recent years, particularly in how properties are marketed to potential buyers. As we navigate through 2024, the industry finds itself at a crossroads between traditional marketing methods and the ever-expanding digital landscape. This article explores the evolving marketing tactics in real estate, comparing digital and traditional approaches, and offering insights for Kiwi real estate professionals looking to stay ahead in a competitive market.
The Digital Revolution in Real Estate Marketing
The digital age has ushered in a new era for real estate marketing, offering unprecedented opportunities to reach and engage potential buyers. According to recent data from the Real Estate Institute of New Zealand (REINZ), digital platforms have become the primary source for property searches among Kiwi home buyers.
Social Media: A Game-Changer
Social media platforms, particularly Facebook and Instagram, have emerged as powerful tools for real estate marketing. Ben and Amanda Stevens, a successful Wellington-based real estate team, have embraced a “completely ‘digital-only’ strategy” for their property advertising. Their approach focuses on driving traffic to their personal website rather than corporate platforms, allowing potential clients to experience their brand directly.
Virtual Tours and 3D Imaging
With the advancement of technology and the impact of recent global events, virtual property tours have become increasingly popular. These digital tools allow potential buyers to explore properties from the comfort of their homes, saving time and expanding the reach of listings beyond geographical boundaries.
Targeted Advertising
Digital platforms offer sophisticated targeting options, allowing real estate agents to reach specific demographics based on factors such as age, location, and interests. This precision targeting ensures that property listings are seen by the most relevant audience, potentially leading to quicker sales and better matches between properties and buyers.
The Enduring Value of Traditional Marketing
While digital marketing has gained significant traction, traditional methods continue to play a crucial role in the New Zealand real estate market.
Print Media: Still Alive and Kicking
Contrary to popular belief, print media remains a valuable tool in real estate marketing. The New Zealand Herald, for instance, has seen an increase in readership numbers both in print and online. Print advertisements in property sections of newspapers and magazines still attract serious buyers who are actively interested in the property market.
Community Engagement and Local Presence
Traditional marketing tactics, such as hosting community events or sponsoring local initiatives, help real estate agents establish a strong local presence. These activities build trust and recognition within the community, which can be particularly effective in smaller towns and regions across New Zealand.
Direct Mail and Letterbox Drops
Personalised direct mail campaigns and letterbox drops continue to be effective, especially when targeting specific neighbourhoods or demographics. These methods can complement digital strategies by reaching potential buyers who may not be as active online.
Striking the Right Balance
The most successful real estate marketing strategies in New Zealand are those that effectively combine both digital and traditional approaches. This integrated approach allows agents to maximise their reach and cater to diverse buyer preferences.
Data-Driven Decision Making
One of the significant advantages of digital marketing is the ability to track and analyse campaign performance in real-time. Metrics such as “impressions,” “click-through rates,” and “engagement” provide valuable insights that can inform both digital and traditional marketing efforts.
Personalisation and Relationship Building
While digital platforms offer broad reach, traditional marketing methods often excel in building personal relationships. Face-to-face interactions, whether at open homes or community events, remain crucial in fostering trust and closing deals.
Case Study: Innovative Marketing in Action
Vanessa Golightly, a top-performing salesperson at Ray White Metro in Auckland, has successfully integrated digital and traditional marketing tactics. Her approach includes:
- Utilising social media to showcase properties and share market insights
- Hosting community events to engage with potential buyers and sellers
- Leveraging targeted online advertising to reach specific buyer demographics
- Maintaining a strong presence in local print media
This multi-faceted approach has allowed Vanessa to build a strong personal brand while effectively marketing properties across various channels.
Looking Ahead: Emerging Trends
As we move further into 2024, several trends are shaping the future of real estate marketing in New Zealand:
Sustainability Focus
With growing awareness of environmental issues, marketing that highlights a property’s sustainability features is becoming increasingly important. This trend aligns with the shift in customer preferences towards more eco-friendly and energy-efficient homes.
Video Content
Video marketing continues to gain traction, with agents using platforms like YouTube and TikTok to create engaging property tours and market updates.
AI and Machine Learning
Artificial intelligence is beginning to play a role in real estate marketing, from chatbots that handle initial enquiries to algorithms that match properties with potential buyers based on their online behaviour.
The New Zealand real estate market is experiencing a significant shift in marketing tactics, with digital strategies taking centre stage while traditional methods continue to offer unique value. Successful real estate professionals are those who can effectively blend both approaches, leveraging the strengths of each to create comprehensive marketing campaigns.
As the industry continues to evolve, staying informed about the latest trends and technologies will be crucial. However, the fundamental principles of building relationships, understanding local markets, and providing value to clients remain at the heart of successful real estate marketing, regardless of the medium used.
For Kiwi real estate agents looking to thrive in this changing landscape, the key lies in adaptability, continuous learning, and a willingness to embrace new technologies while not losing sight of the personal touch that has always been central to the real estate profession.