Revolutionising Ad-Tech in Real Estate: How Targeted Advertising Enhances Customer Engagement
By Mr. Sangeet Aggarwal
Marketing is the golden rule for any business today, irrespective of the industry to which it belongs. In this present age of digital marketing, targeted advertising has emerged as a consummate tool enabling the delivery of personalized messages to a specific audience.
This considerably amplifies the likelihood that the content is relevant to the interests and requirements of that consumer demographic. This heightened relevance has the potential to drive higher customer engagement rates, increased conversions, and successful customer acquisitions. Thus, as the Indian real estate landscape continues to evolve at a relentless pace, this advertisement technology has become an integral ethos guiding the course of this booming industry.
Take for instance, even the traditional house-hunting methodology has undergone a major paradigm shift since embracing the post-pandemic digital revolution. This transition not only streamlines the process of finding a home but also opens the doors to a new era of targeted advertising, fundamentally transforming customer engagement. Proptech, at the forefront of this revolution, is sculpting tailored experiences that resonate with individual preferences and needs.
Although precision in audience targeting has long been a cornerstone of successful marketing strategies, the advent of Artificial Intelligence (AI) has notably elevated the accuracy and efficacy of this crucial process. Today, AI is transforming real estate companies’ ability to pinpoint the right audience with unprecedented accuracy. Therefore, Let’s discuss in greater detail how AI-based targeted advertising as a marketing approach continues to redefine operations by multiplying user engagement and simplifying the home search journey in the contemporary real-estate milieu:
Unlocking Ease of Search
The digital wave has also ushered in an era where online platforms take the lead in simplifying the home search experience. Users now effortlessly navigate through a sea of properties, refining their search based on preferences such as location, price, size, amenities and user reviews. In a matter of seconds, potential homeowners can discover properties that align with their vision, thanks to constantly evolving AI-based platform algorithms that prioritize relevance and user satisfaction.
Know Your Neighborhood
In the real estate realm, the age-old adage “location is paramount”, remains true. Beyond listings, platforms leverage the power of AI to provide crucial information about neighborhoods, offering insights into schools, hospitals, shopping malls, and other local details through interactive maps. Understanding neighborhood price trends enhances user experience, empowering them with comprehensive knowledge to navigate the dynamic real estate market.
Personalized Collections
Savvy digital platforms are leveraging AI and analytics to gather user digital footprints for curating an enriched home search experience. Personalized property collections, featuring listings by owners, ready-to-move homes, gated communities, and more, streamline the exploration process. Both on and off-platform communication adapts to individual needs, tailoring the user journey. Beginners are presented with curated collections, offering options to save and share, while seasoned home seekers are guided to compare properties, view neighborhood details, and make informed decisions. Users, appreciative of this personalised touch, engage longer with portals that understand and serve their needs.
AI-Powered Data Insights to Gauge Buyer Preference
Predictive analytics, powered by machine learning, delves into historical data to understand optimal purchase timing, influential factors, and preferred property types. This nuanced understanding empowers real estate companies to precisely target the right audience at the opportune moment in their home-buying journey. Digital platforms, recognizing the significance of data analytics and AI to provide simplified yet impactful insights, covering aspects like price trends, registration data, valuations, and resident reviews. This approach ensures that buyers are well-aware and confident in their decision making.
Geographic Targeting
AI analyzes geographic data to pinpoint lucrative markets or specific neighborhoods garnering attention. This strategic insight enables real estate companies to fine-tune marketing campaigns, directing efforts towards areas with a higher probability of finding their desired audience.
Real-Time Marketing Adjustments
In a dynamic real estate market, audience preferences tend to evolve swiftly. AI systems, equipped for real-time analysis, facilitate immediate adjustments to marketing strategies. If a surge in interest in beachfront properties is detected, AI promptly shifts focus by prioritizing related listings in ongoing marketing campaigns.
Chatbots for Pre-Qualification
AI-powered chatbots engage with website visitors in real time, collecting essential information to determine whether they align with the target audience. By posing qualifying questions related to budget, property type preference, and timelines, chatbots filter out visitors less likely to convert, allowing sales teams to focus on more qualified leads.
Conclusion
The strategic synergy between real estate and AI-powered targeted advertising is reshaping the way individuals engage with the process of finding their dream homes. By leveraging these adtech strategies, real estate companies elevate the precision and efficiency of their audience-targeting endeavors. This, in turn, leads to heightened engagement, increased conversion rates, and a more streamlined and cost-effective marketing process. As AI technology continues to advance, its role in identifying and engaging the right audience in real estate is destined to become even more indispensable.
Going further, Proptech’s innovative approach to enhancing consumer experience and engagement, driven by technology advancements, will not only simplify the home buying journey for consumers but also brings in a new level of personalisation and insights that redefine the home-buying experience.
As we navigate this dynamic landscape, the fusion of technology and real estate stands poised to revolutionise not just how we find homes but how we connect with the very essence of what makes a property a home.
(The author is Mr. Sangeet Aggarwal, Head of Product & Design, Housing.com & PropTiger.com, and the views expressed in this article are his own)
