The rise of new technologies, the sporadic nature of the markets, and the shift in consumer values are all playing their part in the evolution of product marketing. This is particularly true of the property industry, where a competitive market and picky consumers are creating new challenges for the marketing managers who are tasked with filling vacant properties, winning investors, and making their organisations stand out from the rest.
These factors are continually changing, which means your property marketing strategy and tactics will have to adapt with them if you don’t want to be left behind. If you can predict the upcoming trends, you’ll be able to get ahead of your competitors and position your organisation as a market-leading property business.
It’s All About AI
You’re probably already aware of the rise of smart-tech and the role that it plays in households all over the country. Smart-home technology is changing the way that people carry out day-to-day tasks: from planning their evening meals to turning on their heating, people are becoming better-connected to their belongings through artificial intelligence. You can tell Alexa to plan your day, monitor your spending, and take a phone call on your behalf; and as this technology grows in prominence, so does its potential to be used by brands.
AI continually learns about its users, and it will be that tightly woven into the lives of consumers that marketers will be able to harness the collected data to pinpoint their target audiences with more precision than ever before. Whether you want to pinpoint a fun-loving student or an environment-conscious parent, AI will give you the insights to do so.
Make It Personal
The number of construction projects continues to rise, with more and more businesses developing properties for a range of different target consumers. As the market becomes more and more saturated, it will become difficult to fill vacant properties without any real incentive. The more properties there are available to consumers, the more likely it is to become a buyer’s market, where potential customers can turn to your competitor if they don’t agree with your brand or your ideals, or if don’t believe that you offer a strong enough value proposition.
This is where personalisation comes into play. Regardless of industry, consumers want personalised experiences; they want to feel valued. There was a time when the demand for property was so high that your branding wasn’t overly important, but as consumer powers shift, you will have to position yourself as a property business that cares. Use the data that you gather from AI to build personas for your target audience, find out what they like, and create a buying experience that is perfect for them.
Video Will Remain Important
Video and images have always been important assets in turning awareness-stage users into consideration-stage consumers. High-quality videos that show off your property are a great way to grab the attention of your target audience, and 71% of marketers say that video content outperforms all other content when looking at conversion rates.
Creating engaging video content is a way to engage your audience and drive organic traffic to your site. For example, if your target audience is comprised of students, then your video should highlight the value of good accommodation while they study. If, on the other hand, your target audience is investors, then you can use video to demonstrate the progress of a build and the plans in place for the property.
Community Is Key
Consumers want to experience a sense of community, even if it doesn’t involve direct contact with other people. Despite the fact that people are gradually becoming less social than in previous years, the offering of a sense of community is appealing to a property audience. Students want to meet new people, families want a sense of security, and investors want to know the property to be in-demand and profitable – all of which can be achieved through creating a sense of community.
Not only do end-users like to see community, but being conscious of the community in which you’re building your property is important to building an ethical brand. It’s becoming more and more important for property businesses to become parts of the communities outside of their developments, and this will have to be tied into your brand messaging.
Create a Property Marketing Strategy That Works
Putting together a successful property marketing strategy involves firm knowledge of your target audience, a clear understanding of the market and its trajectory, and a forward-thinking mindset when it comes to the latest marketing technologies. You can find out how to do all that and more in our property marketing guide.