Opinion: How Residential Real Estate Can Benefit From Social Media Influencer Marketing | Opinion
Even the best real estate projects can’t make enough sales without a solid marketing strategy. While the residential real estate market has experienced a temporary collapse due to the pandemic, there is renewed interest from home buyers with the start of the vaccination campaign and the return to normalcy across the country. For real estate professionals, this means you need to step up your marketing practices to build brand awareness and engagement with your target audience.
As we live in a digitally driven age, over-reliance on traditional modes of marketing and advertising is not enough. Social media is an attractive choice if you are looking to increase your reach. It is estimated that by 2021 there will be around 448 million social media users in India – in other words, ignoring social media is no longer an option.
One of the ways to market through social media is by working with social media influencers. Influencers are highly followed on social media platforms and are considered experts in their field. Most brands across industries use them as a medium that can weave a powerful narrative about the brand or its offering and present it to the public.
Influencers on various social media platforms can help with content creation, curation, and distribution. Collaborating with such influencers, whose opinions can influence your target audience, can make word of mouth marketing easier. Depending on the number of subscribers, there are different types of influencers:
Mega influencers: these influencers generally have more than 500,000 subscribers. They have a diverse audience and can offer maximum reach
Macro-influencers: The number of subscribers is between 100,000 and 500,000. These influencers are ideal for targeting a large demographic group such as young men.
Micro-influencers: The number of subscribers is between 10,000 and 100,000. These influencers tend to focus on a particular niche and target a specific type of audience.
Nano influencers: The number of subscribers is between 1,000 and 10,000, but they can get a higher level of engagement due to the close relationship with the audience. However, the range can be extremely small.
Let’s explore how the residential real estate market project can leverage the power of social media influencer marketing:
Improve brand recall and site visits by involving influencers at different intervention points
Every real estate project follows a lifecycle, and involving influencers at every stage can help.
you reap the benefits. Remember that real estate is part of a way of life influencers sell
their viewers. By engaging influencers at different stages, you can seamlessly market the
project on social networks.
Take, for example, the pre-launch phase of your project. You just announced a new project and want to create a solid buzz. Team up with a lifestyle influencer to cover the pre-launch event through a series of Instagram stories. For other stages of your project, like when you’re open for booking or when bookings are about to close, bring in other influencers.
You can also use Twitter influencers to tweet about the project during the pre-launch day to spread awareness. Casa Grand used the same strategy a few years ago when 100 Twitter influencers tweeted about their “Casa Grande Tambaram” project ahead of launch day. On launch day, “#CasaGrandeTambaram” was all the rage in India.
Since each influencer has a different audience, using different influencers for different stages of the project will give you better reach.
Highlight the amenities of your real estate project
You need to be hyper relevant to your clients and highlight all aspects of your project. This
also contributes to reinforce the notoriety of the project.
For example, you can collaborate with food influencers to promote the social infrastructure of the locality where your project is located. You can create a series of “one day in the life” videos where lifestyle influencers show your clients what a regular day in the condo could look like. Do you have a remarkable feature like eco-life that you want to showcase? Join beauty and wellness influencers to talk about this USP through videos or posts.
Authenticity is at the heart of influencer marketing. Leveraging your communication to show someone the audience can relate to will help you generate great traction. Along with giving your brand the visibility it needs so much, collaborating with influencers is also a great way to bring a home to life and appeal to the psyche of your target audience.
Highlight different aspects of the property at different TG
Need to advertise very different property types, such as an integrated township, luxury apartments and cohabitation space? The answer is: work with influencers from all categories.
For luxury apartments, ask luxury lifestyle influencers to create content around such an apartment. This will inspire the target audience to visualize the ambitious life they would like to lead.
For a co-living space, you can approach like-minded Millennial influencers who can talk about amenities, create multiple stories around the benefits of living in a co-living space, and also complete walkthroughs for helping ambitious millennials connect. Likewise, collaborating with influencer moms can be the perfect way to highlight the benefits of staying in an integrated township.
In each of these collaborations, using relevant keywords can make it easy to reach users based on their interests and what they are passionate about.
How to Use Influencer Generated Content for Higher Engagement
Setting up an influencer marketing campaign can only get you so far. If you want to occupy top-notch real estate – staying on top of the minds of your target audience – you need to keep producing enough content to make sure they stay interested.
Reusing existing content created by influencers is an easy way to achieve this. For example, you can use the influencer-prepared creative, optimize it for your social media channel, add a new caption, and post it to your social account.
When creating digital ads for Facebook, YouTube, or Instagram, use influencer content to save time and money. You can also pull some of the popular influencer marketing campaign posts that worked well and repost them on your page with a new caption. You can also re-share the original influencer post directly to your page.
How to evaluate the performance of your influencer marketing countryside
Finally, knowing the right KPIs can help you calculate influencer marketing campaign success.
The most important ones that you should follow include:
Conversions: The ultimate goal of any marketing campaign is to increase sales. Track sales before you launch the campaign, during the campaign, and after the campaign is over to see if the campaign made a difference.
Referral Traffic: Referral traffic monitoring helps you assess new visitors who have come to the website because of the campaign. You can retarget these visitors and get them converted later. As with conversions, always compare pre-campaign traffic to post-campaign traffic for accurate results.
Reach and awareness: Improving your brand visibility is arguably one of the most important benefits of implementing an influencer marketing campaign. This is why it is essential to specifically track the reach of the campaign by looking at the number of new leads due to the campaign. Track impressions of posts shared by the influencer and compare them with your pre-campaign numbers.
Also check the impact of the campaign on your pre-existing prospects to see if the
the influencer clicked with them.
Authenticity, relatively low costs, and the promise of high engagement make influencer marketing an essential tool in every marketer’s fundraiser. With the exponential growth of micro and nano influencers over the past few years, missing the influencer marketing train can put you down the curve.
Also, in conclusion, looking for local influencers to amplify your reach in the area where your property is located will be very helpful. Instagram due to the culture of user-shared content seems to be an attractive platform to run your campaigns.
If you want to reach your target audience, establishing a presence in their digital hangout is invaluable, and the right influencers can help you achieve that.
The author is the founder of Kofluence, an ad-tech influencer marketing platform.