By using the right media plan, you can multiply your chances of reaching the right buyer faster
Only 7 per cent. of the Danes were actively looking for a new home in 2017, but as many as 26 per cent. were either considering finding a new home soon or were open to buying a new home if something of interest were to appear.
In other words – the possibility of awakening the curiosity amongst that quarter of the Danes, that are passively looking for a new home, is present. But have in mind that their behaviour differs from the behaviour of those actively looking for a new home.
In collaboration with Webpol, Mindworking did a survey showing exactly that. What we did was ask home buyers and sellers a wide range of questions including media and search habits. This generated new insights into the market of real estate which is essential to know when planning your marketing.
Whether your customers are actively or passively looking for a new home, the survey concluded that it is crucial to spread out your marketing to ensure reaching all the potential buyers of a new home. We will elaborate on this in the following sections.
Active home buyers
If we look at the general status of the real estate market last year, our survey shows that 70 per cent. of those who bought a property last year were actively looking for a new home when they initiated the purchase process.
Not surprisingly they find their information in housing newspapers, on property websites and at Real Estate Agents. As one of the most popular places to look for a new home are on the property websites, knowing how buyers use these sites is information worth knowing. As it turns out 80 per cent. of buyers using property websites are willing to compromise when it comes to their list of wishes in a future home. However – forced to put in specific search criteria like three rooms, a kitchen-dining area and zip code 8000 – they are not introduced to the four-room property with an outdoor kitchen located in zip code 8210. A home they didn’t know they wanted until they saw it.
Therefore – to reach this large group of active home buyers willing to compromise on their wish list, it is important to take other methods into consideration.
The survey also shows that one in three home buyers search for housing information on Social Media or through family and friends. This emphasizes the importance of using multiple platforms when doing your marketing and to also to have your target audience in mind. Regional newspapers are preferred by buyers from the age of 56 while young people between the age of 18 – 35 are more likely to be on social media. So, to reach the group of buyers in the process of building the foundation of their lives – from buying their first home to future buys and sells, your marketing should be targeted accordingly.
Passive home buyers
Of the ones who purchased a home last year only 70 per cent. were actively looking for a new home once they initiated the buying process. This means that 30 per cent. of homes sold last year were bought by passive home buyers.
This passive group of home buyers are not looking for their dream house or dream apartment at Real Estate Agents, in housing newspapers or on property websites thus leaving newspaper ads and window cards without much value. Instead they might hear of these homes for sale through friends, family and colleagues; or on social media as they come across an ad/post on Facebook shared by someone in their Social network.
This means you can reach a large amount of potential home buyers through other platforms than newspapers and property websites. So, when chasing that optimal marketing solution, you might want to consider if you could benefit from using alternate methods to reach all potential buyers thus finding the right buyer faster.
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Remember to consider the specific property’s target audience. If your target audience are from the age of 56, newspaper advertisement may be sufficient, but if you want to reach the younger buyers between the age of 18 – 35 you really want to be on Facebook.
Remember to use both owned, paid and earned media. As passive home buyers are not actively looking for a new place to live, you won’t find them scanning the housing newspapers, searching property websites or visiting Real Estate Agents – in stead they might see something shared by friends and family on Social Media.
Remember; In recent years, 30% of home buyers weren’t looking for a new home when they initiated the buying process.
Remember, active home buyers are willing to compromise when it comes to their list of wishes in a future home.
Remember; one in three home buyers search for housing information on Social Media or through family and friends.