Why Geofencing For Real Estate Is The Hottest Trend & How To Use It?
Selling real estate properties could be a tedious job if you don’t know who to target. Among several other methods for targeting people, geofencing for real estate has been catching most of the realtors’ attention lately. However, most of them are not able to understand the potential of this smart innovation, and as a result, falling prey to the inefficient application of the technique.
Well, the fact must have got you thinking too. You must be wondering about what geofencing for real estate is, and how can you leverage it.
Stop worrying, and keep reading, for you will get all of your questions solved in this article. It is not at all a complicated mechanism, and not expensive at all, and you can actually do a lot by knowing the tidbits about it.
What is geofencing and how is it important?
Geofencing is a term for the imaginary geographical limits in a particular area. It is the place where you can serve location-based messages to your consumers. Location-based marketing is turning out to be a crave in most of the businesses. It enables you to target your users better with proper customized messages, that can convert him with time.
Geofencing for real estate can help you to put a virtual boundary or a fence around your properties with an invisible CTA. In other words, geofencing for real estate triggers some action when your users cross the certain threshold set by you. Therefore, it allows you to always be available for your probable customers and engage them without worrying for them to come to you directly.
To realize how geofencing for real estate work, consider the following example.
Suppose you built an out-of-the-era apartment complex in your city. Your standard marketing strategies would certainly spread the word about the property. Some people might be interested and look to buy an apartment from you. Thus they will get in touch with you in order to complete the purchase.
However, over time, they may get busy in their routine life and start neglecting their intention of buying the property. Here geofencing helps you out. It allows you to set up a fence around your real estate. As soon as people cross the invisible boundary, they will trigger the action sequence, which will enable you to push custom messages to them.
Therefore, geofencing for real estate acts as the constant lookout for you. Moreover, it informs you as soon as someone is within your ‘grasp’ to send personalized messages in order to engage them.
Why do geofencing for real estate?
Now that you know how geofencing can help you, you might be interested in knowing how it can help you. The following are a few reasons that can help you set up an effective geofencing for real estate.
1. Cost-effectiveness for better ROI
Geofencing for real estate helps you to target your consumers with refined data. It sends marketing messages for your real estate properties only to those, who crosses the geo-borders. Therefore, you are able to get real-time insights with an enriched customer portfolio to target, thus reducing your overall marketing costs. A targeted communication translates to better ROI when it comes to marketing messages.
Moreover, geolocation targeting helps you to optimize your communication channels too. Geofencing identifies you best performing channels and send the right message through the appropriate channels for maximum engagement.
2. Improved engagement with customized messages
Since the geofencing for real estate works as soon as the consumer crosses the marketing barrier threshold, the identifications of the users become easier. Therefore, geolocation targeting allows you to judge the customers’ intention better as the people who cross the barrier is evidently interested in your property.
Thus, you can design your marketing messages to these users to be more personal. As you can already identify the users at the different stages of the marketing funnel, sending them, the appropriate message with the right emotional appeal would prove to be more engaging.
How to set up geofencing for real estate
So, now that you know about the benefits of geofencing for real estate, you need to set it up for your real estate business. The following are the three methods which allow you to start with geolocation targeting in real estate.
1. GPS-enabled device
The most common process of setting up geofencing for real estate acts on the GPS signal of the mobile device. These are high-powered smart devices and uses satellite signals to determine their location. Installing a location detector around your property can tip your geolocation messaging services when someone comes into the threshold. You can use your automation tools, integrated into your geolocation detector to send them messages appropriate to their marketing journey stage.
Wi-Fi signals can also act as a trigger for geofencing for real estate by detecting the users’ device. The signal emitted by the wireless emitter is easily recognized by the smartphones and the tablets. Therefore, they can act as an enhanced perimeter barrier for geolocation targeting. Once a user is with the boundary, you can easily send him a personal message through various automation tools.
3. Secondary target locations
Secondary target locations are the geographical points outside the primary geolocation points. It increases the boundaries of your location based real estate marketing. This technique uses the properties around the primary location to act as a relay to expand the limits of the fence. Therefore, even if your central target location is a bit far away, you can still get hold of the users who have crossed the secondary perimeter and send them marketing messages about your properties.
As you can see, geofencing in real estate is quite easy to set up, and there are a lot of reasons for doing so. It also helps you to optimize your marketing efforts, and the ROI in a big way over the time.
Additionally, you can make geofencing for real estate more powerful by including it with your real estate local SEO strategy. Local SEO in real estate allows you to include a map, which can be accessed through any GPS-enabled device, and in turn, makes geolocation targeting much easier.
Let us know your success story about location-based real estate marketing. How much did you benefit from it? Speak with us through the comments section below.