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Digital Marketing Scenario for The Real Estate Industry in Bangladesh

April 3, 2021
April 3, 2021 Imtiaz Sakib

In Bangladesh, most real estate companies are not running their campaign in Digital marketing. Few companies have seen to do Digital Marketing like Building Technology & Ideas Ltd, Concord Real Estate Ltd & Ranks Properties, Suvastu & bProperty.

But most of them are using Facebook only for the digital marketing channel. But there a lot of ways & channels like Google Ads, Linkedin, Email Marketing, Web Push, Chatbot available to get real customers. Most of the companies are depending on the Digital Agency. Few of them are doing it their own way.

In the real estate industry in Bangladesh, everyone thinks that salesmanship is everything. No matter what your definition of salesmanship is, marketing should be an extension of your skillset. Adapting to the digital shift in the marketing landscape should be the priority when sharpening your efficiency. In the article below, we’ll explore the digital marketing scenario in real estate.

Okay now let me show you some facts:

Spending Media Budget without Goals

First of all, I wanna share big things with you, Every real estate company spending money on Facebook based on their budget without any goals. Example: ABC real estate company made a post on Facebook. And then the digital agency or authorized person asked the management “How many dollars will boost on this post?”, The management mentioned an amount such as $100. And agency or authorized person spend that mentioned amount on Facebook. End of the campaign, the company has not received any quality leads. My opinion here: Without A/B test, specific target group, Ads creative analysis, call to action button, etc it shouldn’t post or promote on Social Media.

Acquiring customers through advertising on various platforms such as Facebook, Google, LinkedIn, lead nurturing techniques and influencer marketing Ropper

Having a strong Linkedin presence

There are huge active users in Bangladesh on Linkedin. This is the primary reason why advertising on Linkedin is something every builder needs to try. From website conversion ads to lead ads and carousel ads, builders should try a combination of videos and images to drive inquiries and site visits. Linkedin also has detailed targeting by demographics, age and behavior.

SEO is a specialty within itself that is very dynamic

In most cases, Real Estate companies don’t know what is SEO, Because most home buyers/sellers will start their respective real estate processes with a Google search, SEO is an area where you will need to pay special attention. The internet is where your competition lies and the search engine results page (SERP) is your playing field. So I think every company should have some activities in SEO

Website is the major key role player in Digital Marketing

Now let me come to this point. In Bangladesh, you will find many real estate companies without a website. Even they don’t want to invest their money in it. If you found anyone, then you will experience Mobile-Friendly issues. A non-mobile-friendly site requires users to pinch or zoom in order to read the content. Users find this a frustrating experience and are likely to abandon the site. The importance of a website for marketing extends to every aspect of your digital marketing strategy. If you don’t know if your website is mobile-friendly, take the Mobile Friendly Test now

Most consumers are looking online for information that will help them make smarter purchasing decisions.

Guess what I am talking about. It’s Email Marketing.

A real estate company that is not using email marketing is 100% losing to find new customers. Only Building Technology & Ideas (bti) are using this service. Where other organizations are doing nothing. Real estate companies can quickly update and inform their customers about upcoming projects and housing programs without facing any delay issues.

Real estate agents and even real estate businesses can easily incorporate email marketing into their existing real estate marketing strategy by hiring email marketing services.

Google Ads: There is no alternative in Digital Marketing

This is BIG. Google AdWords has become one of the most popular online advertising platforms for real estate company. Bangladeshi real estate companies do not advertise in Google Ads. While Google Ads can get you high-converting real estate leads for sure, it can also end up being a money pit if you don’t know how to set up fully optimized Google AdWords pay-per-click (PPC) ads for real estate leads. Not preparing a conversion funnel before running a Google Ads campaign is one of the biggest mistakes real estate industry players and brokers make. They drive leads to the homepage of their websites where there is no call-to-action to capture leads.

Chatbot in Real Estate

Communication is the cornerstone of any successful relationship in real estate. In the early stages of correspondence, when this critical connection starts to develop, a chatbot can serve as a capable representative. While this technology in no way replaces a professional, it does allow them to extend their presence and delegate the details, so they have more time to allocate elsewhere. Professionals need to determine how a chatbot will function within their site. Many agents use a chatbot to provide an immediate response to inquiries and handle common questions. While this occurs, the chatbot accumulates information on a potential buyer to add to a database for future analysis. (From Medium)

YouTube Marketing

If a picture paints a thousand words imagine what a video could do. But what we do? just nothing. Only FMCG companies like Unilever, Square Group are doing a strong campaign on YouTube. YouTube is currently the world’s 2nd largest search engine. Suffice to say that your real estate brand needs to have a comprehensive YouTube strategy to tape into this sizeable audience. It is important to note, however, that you don’t have to stop with just YouTube. Real estate brands will have to explore multiple video formats across social media channels like Facebook, Instagram, LinkedIn, etc.

Concord is one of the pioneer real estate companies in Bangladesh which laid its foundations in 1972. Known for providing quality residential segments like apartments, luxury villas, and high-rise apartments, the company has since produced 1000+ well-known projects, selling to over 7000+ happy residents.

Concord wanted to scale up its digital presence through powerful digital marketing, focusing on five primary goals.

  • SEO
  • SMM
  • Influencer marketing
  • Digital advertising

An intense digital marketing campaign followed, running on platforms like Facebook, LinkedIn, and Google search, resulting in an impressive turnaround that showed:

  • Increase 10% in sales from digital inquiries
  • 10x increase in lead generation
  • Cost per lead reduction by 30%
  • Organic Traffic increase by 3x
  • 4x increase in leads from organic traffic
  • The fan base on Facebook has grown to an engaged community of over 1,40,000 fans

Real estate is the most reliable and secure long-term investment you can make, and the ability to purchase a home will only get easier with newer technologies coming into the digital space, which is capable of giving you a real-time experience of any property right through a screen.

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