Cashmores has a highly visible online presence in Tauranga and the Bay of Plenty, utilising digital and social media platforms to market our brand and to sell homes. In this week’s blog we take a look at this approach and the cost of digital versus traditional media when it comes to selling real estate.
We love digital because we can target potential buyers in a geographical area like Tauranga who have been identified by platforms like Google, Facebook and YouTube as having an interest in real estate, recently searching for homes, visiting real estate websites or comparing home loans. Our digital footprints are larger than we think and the targeted nature of this technology ensures we aren’t serving ads to those who have no interest in what we have to offer. This is in stark contrast to mediums like newspapers and radio where we are really just hoping people are interested in what we are selling.
A great irony of newspapers is that advertising costs continue to rise as readership declines. Fewer people than ever are subscribing to or reading newspapers. One of New Zealand’s largest media companies recently began to charge for their online versions of major newspapers, a bold but understandable move from a media industry leader. The bottom line was they had to find a new revenue stream because people are consuming their news online and buying less and less newspapers.
If you were to use a newspaper to advertise a home the best place to do that would be the weekly property guide. At least it is targeted toward property buyers right? True, but the reality is that most people reading the newspaper will be more interested in Brodie Retallick’s shoulder, Nadia Lim’s new recipe or photos of the latest royal baby and will skip that section anyway.
As a quick cost comparison a full page in a real estate paper is approximately $1,000. This is before the cost of the photographs is even taken into consideration which will be approximately $300. Let’s say that’s an even $1,300 to get one newspaper ad.
For that same price we can deliver a dynamic customised six week marketing campaign including video ads, photography and graphics served directly to the iPhones and laptops of those who are specifically looking to buy homes. There ads might show up on Facebook and Instagram feeds, before YouTube videos or on any number of websites and apps that utilise Google display ads. In an age where everyone has a phone in their pocket can you really afford to ignore digital and rely on costly newspaper advertising?
Marketing costs money, there’s no way around it. From media placement to production costs, newspaper, radio Google and Facebook ads, brochures, photographers, signs, videos and more – there’s a cost involved. No matter what method you choose it’s important investment in selling your property and could make the difference in getting a better result. What’s important to us is selecting a cost effective combination of options that will be seen by the right people for a good period of time and give you the best shot at selling your home.