Have you ever heard of Silicon Valley? Likely you have. Did you know that Silicon Valley is constantly trying to innovate the real estate industry? Technology continues to push the envelope and transform the direction of the profession every year.
In 2020 several marketing trends are revolutionizing the real estate profession and most follow the sociological trends from recent years.”Today, people’s attention spans are short and the way they like to consume content has also changed. This is why content formats like Stories have become popular. They are short, engaging, and addictive in a way that people can spend hours scrolling through one Story after another (N.A, 2019).” The many marketing trends of 2019 continue to evolve into 2020 with technology tools designed to improve the customer’s experience.
One-Click: Think Amazon! Amazon knows that people want instant one-click to purchase. In fact, “When we write the history of electronic commerce, the 1-Click patent … allowed Amazon to create a very strong position in the market,” said R. Polk Wagner, a professor at the University of Pennsylvania Law School and an expert on patent law (2019).” In 2020 people will want one click to service.
One marketing trend to be aware of is the Click to Service Patent that is changing the real estate game PingPilot™ by SCORCH™ and their Click-to-Human™ technology. PingPilot™ is transcending the traditional marketing funnel in that this tool allows the consumer to engage with a company’s listings, website, or content and communicate with the correct person in the company when they are ready, with one simple click. Clients, customers, or residents will be able to email, text, video chat, fill out a work order, phone call, or schedule an appointment right from the on-line listing.
With this technology, you will know what listing, piece of content, or website the lead is contacting you or your team from. Knowing where the lead came from makes tracking your marketing easier and more effective. This conversational content tool allows the purchaser to connect with your company the way they want to connect with your company when they are ready to make the buying decision. The technology allows you to show up with one-click.
Live Video Chat: Outbound video and inbound video is a major marketing trend for 2020. In 2019 one big trend was outbound video email. In a 2019 article in March on TheClose.com, “Why not start by replacing your boring, easy to ignore emails with video email from BombBomb? BombBomb has been shown to increase replies by 81%, conversions by 68%, and even referrals by 56% (Eplattenier, 2019).” This outbound engagement trend will continue into 2020 but will require real estate pros niche market pending life events such as birthdays and holidays like never before. Generic outbound videos are out and targeted videos are in.
Inbound video chats are becoming an important trend for real estate pros in 2020. Just like inbound calls in the past, today’s leads are likely to either text or want to see the person they are talking to. This video chat established trust because scam artists would refuse to show their faces.“Increase Inbound Calls by 50% With Free Voice Chat & Video Chat (Joy, 2019).” Today’s leads want to work with the most professional, competent, and savvy real estate pros.
Artificial Intelligence and Loyalty Engagement Platforms: Companies like Urberflip.com and DemandGen.com are changing the game for the customer’s content journey. Instead of long follow up direct mail or email sequences, these companies are using AI to serve content that your customers will want to most likely want to engage.
Imagine a Real Estate Broker preparing a seller to sell their home...
Historically the broker may have utilized Facebook to serve advertisements that offered an eBook. The ebook had a great click-bait title. Then they captured an email address.
Next, they serve emails sending the seller back to their blog while retargeting the seller on facebook with additional content. When the seller is ready they fill out a form on the broker's website and wait for an agent to contact them about listing their home (Sound Familiar?).
In 2020 look for Real Estate Companies to manage the content journey of existing customers with platforms like Uberflip.com. There are two important statistics according to SmallBizTrends.com that real estate pros should consider:
“56 percent of survey respondents considered email marketing to be the most effective method of reaching customer retention goals”
“It costs 16x more to bring a new customer up to the same level as the current one (2019).
In 2020 look for real estate companies to invest in content creation that targets existing customers and provides resources for them to improve the ongoing relationship with the customer.
N.A. (2019). Social Media Trends for 2020 and Beyond. Retrieved from https://influencermarketinghub.com/
Eplattenier. E. (2019). Real Estate Marketing Ideas Retrieved from https://theclose.com
Joy. M. (2019). sayso for Sales Teams: 5 Ways Voice & Video Chat Drive Inbound Sales. Retrieved from. https://www.onsip.com/
Mansfield. M.(2019). CUSTOMER RETENTION STATISTICS – The Ultimate Collection for Small Business. Retrieved from https://smallbiztrends.com/
Wagner. R. (2019). Why Amazon’s ‘1-Click’ Ordering Was a Game-Changer. Retrieved from https://knowledge.wharton.upenn.edu