Realtor Marketing - Digital Prospecting

March 13, 2024 by Melissa Delport

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As the very first phase in the sales cycle, prospecting involves identifying potential clients and then engaging with those leads to try to convert them into customers. Digital prospecting aims to achieve this goal through digital channels such as email and social media marketing. It is powerful, and it is effective if done properly.

Digital Prospecting vs Traditional Prospecting

So, what is the difference between normal prospecting and digital prospecting? Like its Gold Rush namesake, traditional prospecting almost always includes a physical, interpersonal element. Prospecting involves a lot of door-knocking and one-on-one sales pitching. It is effective, but it is time-consuming.

Common methods include:

• Cold calling
• Event networking
• Distributing printed flyers
• Trade exhibitions

Digital Prospecting, on the other hand, enables you to target hundreds, if not thousands, of potential clients at once.

Social media is an audience builder. The more people you reach, the more chance you have of success – finding new and willing buyers. To expand your reach, you must optimize your online presence and then, once you have established a following, you can leverage your content to generate sales.

Digital Marketing for Real Estate Agents

In the digital marketing toolbox, there are several tools to draw visitors in and build a loyal online following:

1. Lead Magnets

Lead Magnets are powerful tools to draw visitors to your site. A lead magnet is a piece of content that holds value for the visitor. It may be in the form of a blog post, an ebook, a digital guide, or free downloadables.

2. Opt-In Funnels

A click funnel, or sales funnel is designed to turn the anonymous visitor to your site into a customer. Essentially, it works as a trade exchange – whereby the potential customer provides information, and in return, you offer something of value (this could be a lead magnet or a list of homes for sale in your area). The funnel helps you to understand your customers’ thoughts during the entire sales process - from awareness to action.

3. Forms

Using strong forms for customer research can help you to better understand your target market and improve your ability to upsell.

Digital Customer Relationship Management

Every agent worth their salt knows that an online presence is imperative – it is an unparalleled (and free!) marketing tool that enables you to showcase a property to multiple buyers with one video. Imagine how long it would take to show each of those buyers the property in person. You could spend weeks achieving what a few minutes on social media can do. Social platforms offer maximum output for minimal input.

The downside is that everyone knows this, which means that dozens of agents are now competing for the same digital space. How then, do you stand out from the rest? How do you out-market your opposition?

1. Be more than just a salesperson.

Try to create content that highlights your knowledge and skill set. Market yourself as an expert in your field. A real estate agent is a brand - each agent is their own business - and your brand must be seen as reliable and credible. In the initial phases of your digital marketing strategy, you should focus on building a reputable brand rather than driving sales. It may not reap instant monetary gratification, but it is a formula for long-term success.

2. Build Relationships

While building your digital prospecting strategy, remember that while the end goal is lead generation and sales, the process itself is all about relationship-building. Let your audience know that you are genuinely interested in their needs and will listen to their criteria.

3. Nurture Relationships

Referral sales carry more weight because they speak to your service history, and how likely previous customers are to recommend you to others. It is therefore crucial that you continue to nurture past clients once you have concluded your business.

Customer relationship management is just as important as prospecting. Once you have established a relationship with a buyer, it is vital that you foster it, even once the sale has gone through and the commission has hit your bank account. The digital approach to this is slightly different. Traditional marketing might include the sending of flowers on moving-in day. A digital approach would be to send an e-card, and then another on the first anniversary of the move, a congratulatory card upon the birth of a child, condolences after the loss of a loved one… Check-in via email every few months to see how the new homeowner is settling in. Try to remember important dates if you can do so and drop the customer a message from time to time. If you have a passion for real estate, the chances are that you will be in the field for many years. Repeat business is key.

Try to treat every customer with the utmost respect and consideration, whether they are spending a pittance or a fortune. A young buyer, while perhaps not worth very much in commission during their starter home purchase, will certainly upscale their home in later years. If you have taken the time to build a relationship and stay in touch over the years, they are more likely to consider you as their preferred agent.

Realtor Marketing Tips (Digital)

Just because something is simple, doesn’t mean it’s easy, and digital prospecting is no different. To truly succeed, you need to stick with it and be prepared to flip the script if something isn’t working.

Here are a few top tips for issues that seem to crop up regularly:

1. Be consistent. Consistency is key and creates a sense of reliability that will go a long way.
2. When using paid advertising, be sure to pay close attention to territories. There is no point in marketing a listing to someone on the other side of the world.
3. Don’t discount traditional marketing. While digital prospecting is on the rise, there is still much to be said for networking and print marketing.
4. Fact-check everything. Social media, for all its value, has become a breeding ground for fake news, disputes, and online bullying.
5. Be wary of ‘Ask Fatigue’. Give, give, give, during those early stages, so that your audience doesn’t begin to associate you as someone who is always needing something from them.

FAQs

Which social media channels should I focus on?

There are so many platforms available, each with its pros and cons. Facebook, Instagram, LinkedIn, YouTube, Pinterest, TikTok, X… the list goes on. Any platform can be effective, but managing multiple accounts can become tedious. As property is a visual sale, we recommend YouTube for its incomparable long-form video capabilities, and Facebook, which is still the largest social media platform around.

Should I run paid ads?

Paid ads are very effective, especially Google Ads and Facebook Ads. Be sure to only invest spend on posts that could bring in revenue, such as sales listings.

Is it imperative to have a mailing list?

Not imperative, no, but we strongly suggest building a subscriber base. A newsletter can be personalized, and sent directly to your customer’s inbox, giving a deeper sense of connection than a public social media post. Also, in the event that you lose your social media profiles, you will always have your mailing list to fall back on.