Why Social Media is Now A Big Factor in the Real Estate Industry?
Why Social Media is Now A Big Factor in the Real Estate Industry? – Zores Miguel Declaro
“It is not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change.” Charles Darwin said. Over the years, technology has constantly changed practices in different generations. With all the innovation that is happening, humans are still capable of adapting to the changes. Furthermore, this concept also applies to businesses and industries, and failure to adapt means failing to meet their designated goals.
Recently, the impact of COVID-19 has changed consumer behaviors in different countries. Undoubtedly, consumers’ behavior has shifted online, which completely changed the majority of business models. With the emerging shift of consumers to online, many companies transitioned to online advertising. Moreover, social media advertising became a key for companies to thrive in their industry.
Nowadays, when people hear about social media, the first thing that comes to their mind is Facebook. Probably, because Facebook changed everything and revolutionized social media, and that’s why Facebook is very popular. However, the first recognized social media created was Six Degrees by Andrew Weinreich in 1997. Few years after the creation of Six degrees, Friendster, Yahoo, Facebook, Twitter, and Instagram came in. Moreover, social media may have different platforms, but it is understood as used by people for communication, information, ideas, and content. Briefly, Social Media has been around for years, but initially, people were not ready to embrace it.
Throughout the years, Social Media started to gain trust. So more users have been registering on different platforms. The incredible rise of users in several platforms revolutionized advertising and marketing. Moreover, companies have started to shift from traditional advertising and marketing to social media marketing and social media advertising because it is more efficient.
Social Media Marketing
As more users are entering the digital platform of social media, companies have transitioned to social media marketing. For instance, different companies from different industries use the platforms to build brand awareness, increase revenue, and grow website traffic.
Initially, social media marketing is purely publishing content to generate website traffic that leads to sales. Later on, social media matured, and various ways are now available to do social media marketing. In addition to this, popular social media platforms started offering advertisements to boost sales. Contrary to traditional advertising and marketing, social media marketing is more cost-efficient which is more attractive to business owners. Besides advertising and marketing through content, social media has analytical tools that monitor engagement rates and sales on social media. In addition to that, analytical tools help social media marketers to improve their content and products leading to more companies embracing social media advertising and marketing.
Industries that Benefits the most from Social Media
Along with the fast transformation of social media, many businesses have innovated and became more efficient. However, some establishments did not make it into today because of social media.
Moreover, social media has provided countless opportunities for a business to thrive, and as of today, many industries have benefitted from social media. Industries that benefit the most from social media are lifestyle, entertainment, fitness, real estate, and education. With all these mentioned industries, they thrive on using social media by having a wider audience along advertising their products that lead to the significant potential of sales.
Social Media and the Real Estate Industry
Real estate is one of the most profitable industries in any other country. Just like other industries, social media changed the way real estate works. The majority of real estate agents have started using the digital platform to have a larger audience who are potential customers. Also, realtors are maximizing their digital platform because it improves their brand visibility. Moreover, many real estate brands use the digital platform to drive more traffic to business pages with SEO-friendly content. In addition, many homebuyers have easily matched their preference on social media in an instant because of social media. Not only homebuyers have found their match in social media but also investors. Several real estate developers have shown
the value appreciation of their products on social media. Recently, there’s a unique type of real estate investment gaining popularity, memorial lots.
An investor would not think about memorial investment when it comes to real estate. With social media advertising, investors are now aware that memorial lots have a value appreciation of 20% yearly. However, not all memorial developers offer this kind of investment.
Golden Haven is the only memorial developer that offers lucrative memorial lots. Recently, Golden Haven wins the best landscape design in the Philippines at the recently concluded Q Asia Awards 2021. Also, this is one of the reasons why they provide lucrative memorial lots. With the help of social media advertising, Golden Haven was able to show how beautiful its parks are located in different places nationwide. Moreover, Golden Haven doesn’t entirely focus on its products on social media but on unique digital initiatives that make them stand out, such as podcasts, blogs, and incentives in their digital platform.
Social Media becoming Big Factor for Real Estate Companies
Researchers have concluded that almost half the percentage of homebuyers are using the internet or social media to buy their properties, while only 20% contact a real estate agent to purchase a property without the help of social media. In addition to this, property buyers are Millenials who use social media when looking for their needs. These facts themselves help the realtors and real estate agents to develop efficient marketing strategies. Such examples of these marketing strategies are increasing website traffic, SEO/ Website optimization, email campaigns, branding efforts, converting audience to followers, increasing engagement rate, and providing convenience through social media.
Altogether, social media advertising and marketing have been promising to the real estate industry and helped generate more sales over the years. If real estate developers continue to adapt and innovate, undoubtedly, they will succeed in the future. Moreover, the pandemic has accelerated the rise of people browsing online, and they concluded that many real estate companies’ sales came from social media leads.
Why Social Media is Now A Big Factor in the Real Estate Industry?
About the Author:
Zores Miguel Declaro is an intern at Golden MV Holdings, a Financial Management student at De La Salle University-Manila.
About Golden Haven
Golden Haven Memorial Park is a subsidiary company of publicly listed Villar-owned Golden MV Holdings Inc. Currently positioned as one of the largest real estate companies in the country. Golden Haven offers premium death care services and prime memorial lots. It is dubbed as the most lucrative real estate investment with an average of 20% annual value appreciation.
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