In terms of marketing, the real estate business has to face a number of specific challenges.
Real-estate business is customer-oriented, and the target audience is so specific that it can be a real problem to create a personalized marketing campaign.
Moreover, real estate marketing campaigns are location-oriented as well, meaning that in most cases they target a certain local real estate market and don’t go global.
These challenges, as well as many others, present an issue of what type of marketing works best for the real estate business.
Among many other options, viral marketing and buzz marketing seem to work best.
Viral marketing, as well as buzz marketing, cover social media networks. The benefits of social media networks for the real estate business are obvious: you can target the audience of your interest and cover a certain location at the same time without having to employ tons of other tools to achieve it.
Viral marketing and buzz marketing both generate a buzz (no pun intended) among social media followers, basically engaging them to “come, see and experience” something. What’s the best way to send this message? Over social media, of course.
As a real estate professional, who’s been in this business for a long time, you already know that traditional forms of marketing like bus stop signs or newspaper ads are not really a good fit for the real estate. Here’s where viral and buzz marketing enter to hit you with the tons of better ideas on how to advertise your real estate business.
Why should the real estate business resort to viral and buzz marketing?
Nielsen reported that 82% of the survey participants trusted word-of-mouth marketing more, compared to the traditional forms of advertising;
According to Fronetics Real Estate, 87% of real estate marketers seek to get more exposure for their business by using social media and 78% report that the use of social media contributed to increased traffic;
Smart Insights claim that 54% of respondents name word-of-mouth marketing (another word for viral and buzz marketing) to be the No.1 driving force of their purchase decisions. Moreover, 49% of Americans identify viral marketing as highly credible.
Social media is a perfect way to make your marketing campaign go viral. That’s why social media platforms are a foundation for viral and buzz marketing.
Now, the question is, what’s better for the real estate, viral marketing or buzz marketing?
Before we answer, let’s take a look at the advantages and disadvantages of them both as well as the major difference between these two types of marketing.
Viral marketing, or word-of-mouth marketing, is a general strategy that involves existing social media platforms as tools to promote a product or a service. To set up a viral marketing campaign, you need to create engaging and relevant content to make people talk about it.
Advantages of viral marketing include:
Incredible outreach: because viral marketing uses social media platforms that encompass enormous audiences, you can reach a massive part of these audiences by using hashtags. The success of your Instagram and Twitter outreach, for example, largely depends on the hashtags you use in your viral marketing campaign. Hashtags help spread the message among the social media users, and you can always track hashtag performance and make necessary changes. For example, here’s the performance of #larealestate on Instagram:
Guaranteed credibility: viral marketing is always credible, as it spreads from your original account as a real estate agent. Moreover, social media users know that they can DM you at any moment regarding your marketing campaign, so it’s another benefit for you and for them;
Low spending costs: creating content for viral marketing campaigns doesn’t cost much, as social media platforms have no fees for businesses to advertise their products or services. All you have to invest in is good-quality content.
While viral marketing seems to be a great fit, there are some disadvantages, like:
Marketing on social media can dilute your real estate brand. Real estate agents love using social media. If you fail to create a viral message, you’ll be at risk to get lost in the sea of similar businesses.
If your viral marketing campaign gets too spammy, you’re risking to create a negative buzz;
There’s a chance that your idea will get stolen and no one will be able to track you down as the original creator.
In the world of real estate business, Joyce Rey is the master of viral marketing. With over 61K followers, her posts get so much attention, bringing her tons of successful deals. The secret behind her viral marketing success is high-quality content, targeted advertising, and personalized approach.
Essentially, buzz marketing is a viral marketing technique. It’s more specific than viral marketing, as it is focused on facilitating the viral potential of a product or service with the aim to grow awareness of the brand.
Advantages and disadvantages of buzz marketing are essentially the same as with viral marketing, but cons may also include:
the lack of control, as the business cannot track when and how the buzz will be generated, and whether it will happen at all;
“Essentially, viral marketing is a general strategy that encourages people to spread the word. Buzz marketing uses the same approach. The only difference between them is the tool they use to spread this message. Buzz marketing often uses events to get people talking. Buzz marketing wants more people to talk about the product rather than just spread a message.”
Remember Super Bowl ads? It’s a great example of buzz marketing, advertisers using this event to get more people talking about their products.
Both viral marketing and buzz marketing can work perfectly for real estate businesses. It’s hard to say whether one is better than the other, as they both depend on the purpose of their use.
While buzz marketing is a more case-oriented strategy, where it depends on the situation you want to use to advertise your services, viral marketing is a more general approach, fit for every occasion and can work perfectly on any social media platform.
As a real estate professional, seeking more web exposure, you should try both viral and buzz marketing, and they are great strategies to spread the word fast and target massive audiences around multiple social media platforms at the same time. However, you should remember one important thing: both viral and buzz marketing are content-oriented, so keep your standards high, and your viral marketing campaign will be successful.