8 real estate promotional ideas that focus on millennial customers
“Millennials can’t afford homes”
“Millennials are bad at investments, they are spendthrifts”
We’ve been hearing these lines for a very long time. But now it’s time to change these dialogues from the root! Millennials have proven themselves that they are worthy and are actually capable of earning a home. According to the National Association of Realtors, 37.5% of the millennial generation owned homes by the end of 2019. Millennials were not into such commitments lately but all of a sudden, they are stepping into homeownership! For all the realtors out there, this is your chance; it’s time to promote your business. But if you are still following the traditional old school promotions, you won’t be making much from this! 84 % of millennials don’t like traditional advertising. You are dealing with millennials, you have to do it in a millennial way. But how do you do that? Let’s go ahead and find!
Gen Y, or the so-called Millennials are not that complex. You just have to be equipped with the right real estate promotion ideas; if it is done, you are all set! Marketing real estate to millennials doesn’t require back-to-back enquiry or one-way pitching. Instead of getting assistance from your list of available homes, they would rather choose their preferred one and point it out to you. You just have to make yourself ready when your millennial clients approach you! But, how to make them approach you? Just workout the below ideas and sit back! You are there!
1. Highlight your online presence
Millennials, whenever they are in need of something, they just go online and type what they actually want in Google, and press the search button. They just randomly search something like “How to buy a home”, “Which realtor is the best to buy a home near the city Xyz?” and take a careful look at the results. So the first step to attract millennials is to create a credible, profound online presence. Once you have done that, clients will approach you for sure.
2. Get a striking Website!
64% of Millennials don’t trust a brand/company if there is no website for it. Having a website is hence, something critical for your real estate promotions. Millennials don’t make direct interactions, so they might check your site first, and then decide on investing. Make your website engaging with features like live chat features, engaging content, creative taglines etc.
3. Set sail in the social media
An average millennial spends around 3 hours 12 minutes on social media every single day. And for millennials, Facebook is the most popular platform. About 76 percent of the millennials are into Facebook. A total of 43% millennials uses Instagram. So if you want your audience to find you, be social, get active in social media. Make sure you are posting great pictures of your properties. Try to add customer reviews so as to create credibility for your brand. Millennials would rather like to see a credible customer review than random descriptions about the brand.
So enlighten your customers through social media. Post updates continuously on social media and let them approach you for their dream house.
Pro tip: Make sure you write all the descriptions regarding the property on the image post itself. Millennials don’t like to dig deeper into a post to find the statistics. So it is always advisable to place all real estate details such as square feet, beds, baths along with the post!
4. Facebook Ads
On our last point, we mentioned about millennials getting influenced by Facebook. Placing an ad on Facebook actually works for millennials. Realtors can leverage their range by investing in Facebook ads. You can target your set of specific audiences based on this. Select the audience aged between 18 and 36 so that you get to cover all millennials across the region. Make your ads more interactive with images and post copies. Conduct contests and giveaways through ads to create brand awareness. Make sure that you post your pictures with a logo on it.
5. 3D virtual tool
One cannot buy a home online just the way they purchase a product from the e-commerce site. Even after showing pictures through social media or website consulting, the client may feel confused. But if you are having a 3d virtual reality tool to showcase your properties to your client, they may feel a little more comfortable sealing the deal! With this 3d virtual tool, you can show the property, interiors, and other aspects to the clients. Millennials would prefer this technology over conventional photo sharing. Virtual tools make the business more credible. People would choose realtors who provide virtual tours over the regular ones. This real estate promotional idea can be a long term investment to your real estate business.
83% of millennials like promotional products. Millennials have this tendency to check a brand online after receiving their promotional product. So if you are providing promotional products to your millennial potential customers, there is a high chance for you to get notified. You can improve brand awareness by handing out promotional products to your prospective clients. Real estate magnets, logo imprinted house-shaped key chains, logo imprinted house shaped stress relievers, house-shaped hot and cold packs, house-shaped hand fans etc can be gifted to your audience. Make sure that you print your logo and brand name on these products so as to create some brand recalls. Your millennial prospects would search you over social media and this would get you leads in no time.
7. Partnership with Low-interest loans
Millennials are thrifty. Some may have savings to buy the property, but others might have thoughts over low-cost EMIs. For those millennials who are not financially sound, you can offer low-interest loans. Millennials may not be able to afford high-interest home loans, so this it’s your call to offer them low-interest home loans. When millennials get the assurance of low-cost home loans, they would definitely make a deal out of it. With such promotional ideas, the real estate business can get more millennial customers.
8. Know what exactly millennials want!
Even if you are ready with all those measures we mentioned above, if you are way back in upgrading with the trends, you won’t make it to the top. Millennials are specific to new trends and changes. They would definitely go for new updates when they are purchasing a home or related stuff. So make sure that you are up to the mark when it comes to the needs of your prospective clients. Just like you target your audience, you have to target what you present to them. For example, most millennials won’t choose spacious, high maintenance spaces. They would rather choose low maintenance, smaller spaces so they don’t have to invest more. Being a realtor, you have to get updated with such trends.
Millennials overtook boomers in terms of population. Millennials took a major part of the adult generation. So if you want to get to your millennial clients, get updated with these marketing trends.