Why Traditional Marketing is becoming outdated in the Real Estate sector?
To summarize the disadvantages of Traditional Marketing in Real Estate, we can classify them into the following 4 categories:
1. Very little Interaction
Since traditional marketing is static, there's no way for your brand to really interact with your audience. Its a one-way, interruption-based form of reaching consumers.
2. Traditional Marketing is Costly
Newspaper Ads and hoardings are very expensive. Traditional marketing companies charge for each delivery of fliers and mailers, whereas in online marketing your ad is open to the entire World Wide Web.
3. Difficult to Measure
The results of traditional marketing efforts cannot be easily measured, and in some cases, cannot be measured at all. It's more like you're putting information out there in front of people and hoping that they decide to take action.
4. Intrusive form of Marketing
Traditional marketing is Intrusive. Your ads are shown to everyone - whether they fit in your target audience or not. Majority of the traditional marketing budget is wasted in showing ads to wrong audience.
Problem with Online Portals
Relying completely only on the leads you get from Online portals such as 99acres, Magicbricks and Housing.com is a BIG problem. Here's why:
1. Regardless of the type of package you've purchased, portals leads are always shared with other parties who pay for similar packages as yourself.
2. Portal leads are never "exclusive". Before you make your first contact, you may find that the lead had already been contacted.
3. Non-exclusive leads directly impacts your conversion rates.
4. Online portals use digital marketing themselves to promote certain projects.
5. This implies that you pay for the digital marketing costs as well which is hidden in the package costs, and still not get exclusive Leads.
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