Gen Y or Millennials are right now in their young adulthood and this generation around the world is all about social media. Millennials have grown up in the Digital Age and most of them don’t remember a time where social media didn’t play a major role in the decision-making process. Whatever they do or buy, wherever they go, social media is a part of it.
If you are selling a product or a service and millennials is your targeted demographics, you need to adapt your marketing strategies to place it on social media where they can be reached.
A survey by the American Press Institute found that millennials consume 88% of their news from Facebook, while 8
3% cited YouTube and 50% cited Instagram. Since the digital age has already been a part of almost every segment of their lives, it makes sense that even when looking at new properties to rent or buy, millennials will consult their favorite social media channels before making a decision about investing in their new home.
Millennials Decision Making Process
Whether they are asking their friends for their opinion on a new hairstyle, which shirt to buy or they are deciding where to live, they turn to technology or better said social networks for help. While they are on break at work or commuting, they can easily look up new properties and explore their real-estate options in their free time from their mobile device or tablets.
Instead of having to talk to someone in person, they can quickly share a link on their social media platforms to receive feedback and advice from their friends and colleagues. Plus, by sharing their interest on social media, they can easily find out more about the property and who is renting or selling it.
According to surveys, most millennials are more likely to buy from brands that got them interested on social media. That means you can seriously increase your chances of closing the sale if you have an online marketing strategy.
Millennials and Real Estate
One of the reasons why millennials drive the real estate market is because they tend to live in their parents’ homes longer than it was with earlier generations, which allows them to save more money and gives the opportunity for a down payment. They are also at the age when they are advancing their careers and generating more income.
Around 85% of millennial home buyers start searching for homes online by using smartphone apps as well as websites. If an agent doesn’t have listings or a profile on the web, their visibility and credibility in the eyes of millennials are seriously reduced.
Millennials on Social Media
There are quite a few social media platforms and their corresponding features. However, only a handful appear to be effective for the real estate business.
Number one is surely Facebook. You can use its dynamic ads, with specific content for your target audience based on location and interests. You can also use Facebook Live to make your open houses more interactive and to engage with your potential buyers.
The next option is Twitter. You can set up keyword searches and alerts for common real estate terms. When someone has a real estate-related question or concern, step in to answer them and start building relationships with your potential clients.
Also, Instagram is a very powerful tool to promote your real estate business to millennials. You can use this social media platform the same way you’d use your office’s front window. Post high-quality, alluring images and videos of your listings and give prospective buyers the information they need without making them work hard for it. Instagram stories and snaps are great ways of promotion as well and you can tell a fast, compelling story and take followers inside your best properties.
Influencer and Content Marketing
Influencer marketing is a huge trend right now in almost any business sphere. By working with social media influencers and bloggers you will draw attention to your properties and this will also help a lot with your real estate content marketing strategy including video content, detailed blog posts, and advertising.
Over the years, technology together with social media platforms, has continuously evolved the real estate industry. You can use this website https://jatapp.com/services/application-development/, for example, to find solutions for every purpose a person pursues. Connecting with buyers, sellers, and investors in the digital of today is a must. With the millennial generation dominating the real estate market, you need to make sure you are all set up to remain competitive in your market.