One of the most affected industries by the pandemic is real estate, with the value of its assets falling by 25% or more, depending on the sector. Nevertheless, some signs of recovery are visible, especially from Millennials.
“They’re [Millennials] realizing they can afford a lot more than they could a year ago. They’re feeling more confident in their jobs than they were at the beginning of COVID, and they have saved up money. It is just a whole different dynamic than it was before.”
Nick Libert, CEO and owner of Chicago-based Exit Strategy Realty.
The main reasons why millennials would like to own a house are similar to those of their parents: “I want to live in a space that I can invest in improving” and “I want to build equity” (realtor.com’s survey). But what they are looking for and the channels they use to search for a house is different. Real estate agencies are dealing with a completely diverse generation compared to the oldest ones. Millennials want, for example, bigger spaces due to aspects like a home office. They are more online, use their smartphones daily for all kinds of purposes, and are active on social media. This opens exciting new marketing opportunities for the real estate industry, which needs to adapt and keep up with more digitalized generations.
These are the best solutions to reach out to millennials:
Your website needs to be adapted for mobile phones. As Trevor Mauch, CEO of InvestorCarrot, stated, 60% of their leads come from these devices. He highlighted how important it is to have a CTA button max. one swipe down and a “tap to call” button instead of a written phone number. This way you will be much easier to contact.
“More than two-thirds of our traffic comes from a mobile device, and on weekends it’s more than 77 percent. […] If you aren’t advertising on a platform that consumers are using to shop for real estate, you are missing a huge opportunity.”
Jeremy Wacksman, Chief Marketing Officer of Zillow Group.
With mobile ads, you can be present on those platforms. They can capture potential buyers' attention and let them see and navigate inside an apartment or a house. You can target them with virtual reality ads (see below) or let them play with the environment through swipe cubes, scratch cards, 360 panoramic videos, etc. Have a look at our creative gallery for more inspiration!
Moreover, some mobile advertising agencies, like Adello, offer you geolocation options. This way, you can target, for example, potential customers in areas nearby a house you would like to sell and invite them for a quick tour. People constantly look at their mobile phones when they are on the go, so they will probably see the ad and come visit the house.
Social media are a good tool for increasing engagement. From AR filters to short videos, stories, posts, pools, you name it. It is important for your business to stay active on SM to connect with your audience and increase its curiosity towards what you have to offer.
Influencers are mainly on these platforms, and they can help you advertise your real estate too. Their followers love to read and hear what they recommend, so they will probably have at least a look at your website.
Try out some of our ad creatives here below, and do not hesitate to contact us to discuss your mobile marketing strategy 😉
