Out of the old and in with the new… As the pace of the modern world gets faster, the real estate market of Egypt has also shifted from classic methods to the more advanced digital one to improve their revenues and generate more leads. Invest-Gate looks into this new trend and how it is moving the sector forward.
Digital Comes First
Statistically, 42% of buyers go online when searching for a unit; 83% of home buyers prefer to view their desired properties online rather than resort to printed ads, or ‘FOR SALE’ signs, according to cityscape website. Moreover, research conducted by Nielsen, revealed that visuals and video marketing ranked second in affecting consumers’ minds and preferences.
Digital marketing is an essential tool for any entity; so believe it or not, it is the best method now, according to El Mostakbal Urban Development Marketing Director Yasmin Elhamy, who emphasizes the importance of digital marketing as a crucial tool for developers currently for it is an effortless and cost-effective tool compared with other conventional means.
Furthermore, “Digital platforms allow marketeers to use analytical tools, which provides them with in-depth feedback plus a follow-up instrument to tack the progress they have instigated,” Elhamy clarifies.
Ending The Data Issue In Real Estate
Elhamy elaborates that frequently digital tools provide companies with data to know more about customers’ desires; and, as a result, it helps to set a strategy for their needs, in addition to the units they prefer to purchase.
The director notes that digital platforms don’t work alone as marketeers usually use classic tools along with online ones. Elhamy further adds that social media platforms (Facebook, YouTube, WhatsApp) have to accompany previous tools such as sms, campaign awareness, or printed advertisements. But watch out not to bore clients!
The Impact of Data & Numbers
The use of digital platforms provides a proper impact of any company’s activity. “Through social media for example, sales can achieve from 40% to 60%. Today, marketing this sector heavily relies on digital platforms… about 80%,” El Mostakbal Urban Development Marketing Director emphasizes.
The digital arena has come with a whole interactive world, where customers do not just purchase a spot, they enjoy a blend of images, music, color, and sense of the units they are looking for. For real estate agents and marketeers, digital marketing attracts a better target audience, who are effortlessly converted from leads to existing customers.
Speaking of audience, social media audiences are one of the most powerful subtypes of digital marketing. It is estimated that 51% of the total population of the world are on social media platforms,such as Facebook, Twitter, Instagram, etc.
In terms of income and interactivity, First Group Real Estate Developer Head of the Marketing Department Mohmed Mousa tells Invest-Gate, “Digital marketing achieves a high percent of interactivity. Approximately, 60% of users engage with it easily because of the interactive techniques offered on online platforms.”
Mousa also adds, “Social media has no limits on writing posts, for example. However, it has a variety of other features such as videos, graphs, and often virtual tours, allowing customers the virtual reality tour of properties from the comfort of their own homes.”
According to the National Association of Realtors, 50%of buyers found their homes through the internet, while 28% found them through their real estate agent.
Regrading the achievements of leap digital marketing, ARDIC Developments Senior Digital Marketing Specialist Noha Youssef says, “Digital marketing activities cost less than traditional ones as the cost per click technique in digital promotions helps in directing the spending to match the target audience unlike classic marketing.”
“Digital marketing has a terrific speed to promote the product’s services, as when companies put up something on social media the clients can see it almost immediately,” Youssef clarifies, “unlike the traditional tools such as TV ads, for example, where you have to wait,” Youssef elaborates.
“On the other hand, the speed of the day-to-day optimization on each digital channel is challenging for most professionals, to the extent that everyone must be fully aware of each new technique to be able to remain on track,” Youssef continues.
Regarding the risk, Youssef’s only remark is the use of credit cards online in terms of security and privacy safety.
With regards to security concerns and breaches, “digital marketing has some other cons such as fake accounts, negative comments, and the spread of false information, all of which can easily harm a brand’s reputation,” Aya Mekki, CEO Office, PR manager at Ardic Developments elaborates.
Trick or Treat
As easy as it may seem, “using digital marketing can be tricky, when communicating with your target audiences,” Youssef comments, “identifying characteristics of each buyer on each channel is what makes the difference.”
“We tend to always develop each channel content, to meet our target audiences’ perspectives, and link them all together eventually,” she adds.
Furthermore, according to Youssef’s statistics, “Back in 2018 statistics, roughly 50% of buyers found their homes through the internet; and this is how digital marketing started to boom in real estate.”
In a similar vein, Mekki reveals, “Most developers, if not all, have realized that social media platforms play a key role in reaching out to clients, whether existing or potential ones. This is because there is a global increase in social media usage and Egypt is one of the countries that has a large social media penetration.”
Mekki continues, “One of the things that make social media stand out when compared to traditional tools, is the massive exposure and reach. It is also cost-effective when compared to traditional marketing techniques.”
Additionally, “Digital marketing boosts sales. Millions of people with purchasing power are on social media; and because of the ease of the process, many of them reply on social media as a shopping tool. Therefore, the right campaign can easily target the right customer and boost sales,” Mekki concludes.