Online marketing exists in various forms including content production, social connections, and digital advertisements. In 2014, it is projected that 25% of all ad dollars will be spent online. Relative to traditional forms of advertising, online formats can be significantly more effective. Only 18% of TV ad campaigns generate positive ROI, in part because 90% of people who can skip TV ads, do.
Conversely, 4 billion people own a mobile phone and of those, 91% of adults have their mobile phones within arm’s reach 24 hours a day. With the easy access, searches for real estate terms on mobile devices have increased 120% over the last four years, and equivalent searches on tablets have risen an incredible 300%. This presents a unique opportunity for real estate professionals to acquire unprecedented reach into their target demographics.
The immediacy of reaching leads via mobile devices is especially important as clients are taking action at an unprecedented rate. Over 24% of people who begin their searches for real estate at home end up taking physical action on their research within 24 hours. Even those who opt for a delayed reaction still act quickly. 60% of those searches took action within 60 days.
Many other real estate professionals have yet to capitalize on this opportunity. Mobile strategies are completely absent from 75% of brands. A few of those without a mobile strategy at least have a mobile site, but 55% of all companies rely solely on desktop sites. It appears as if brands are slow to accept this new format of communication; however those that do embrace it have several options as to how to proceed.
Previously, device-specific formats were the most commonly used technique. The same site had to be manually adapted for each type of device. Not only was this time consuming, the site would either be inaccessible or inconvenient for users of devices for which the site had not been adapted.
Currently, responsive designs are becoming more prevalent. Responsive designs allow a marketer to create a single site that intelligently adjusts its design based on the viewing format. In addition to less manual labor, responsive designs allow marketers to create a continuity of appearance that is difficult to achieve via device-specific format.
Finally, many companies are creating applications as one of the newest form of marketing. Of all businesses with an online presence, 7% use exclusively apps, and 21% use apps in conjunction with a mobile site. Applications are particularly effective at creating a loyal customer base due to the simplicity and convenience of using an app.
Accessing your target audience through a mobile device is an increasingly effective way to advertise. In 2013, mobile ad revenue in the US was $2.5 billion, and that figure is expected to increase to $3.5 billion by the end of 2014. Given the current status of the real estate industry, mobile marketing strategies are an important element in effectively reaching new leads and communicating with current leads.
(Sources: Uberflip; Social Media Today; realestate.com; Anchor Mobile)