Understanding the Importance of Video Marketing in 2024

Understanding the Importance of Video Marketing in 2024

Digital marketing has given conventional marketing strategies a whole new face, and with the COVID-19 outbreak things have just gotten up a notch. Regardless of your role in the real estate industry, you would know by now how crucial it is to maintain a reputable yet fierce presence online for your target audience. Fortunately, social media and digital marketing, in general, have aided this process. 

 However, sometimes just being there for the sake of establishing a brand presence online is not enough. Not only do you need to make use of the right mediums, but when you’re dealing with a competitive industry and are exploring ways to one-up your competitors, ensuring you’re leveraging content appropriately can guarantee you success in generating a sustainable lead stream while promoting your brand effectively. While content is king, ( and it’s probably going to be that way for a long time), there’s no denying the effectiveness of a quick infographic or a form of visual/animated art that will attract and inform the audience in an instant.

 This is where video marketing kicks in, if you haven’t joined the video bandwagon up until now might as well take a leap. It’s quick, to the point, and saves your audience a lot of time from reading. Video marketing is a terrific way for you to stand out from other realtors, create connections with potential prospects and ultimately sell more properties. 

This article is going to overall that you need to know about video marketing and how you can leverage it to benefit your real estate business:

The potential video marketing holds for the real estate investment business

 As per a report by the National Association of Realtors, 44% of home buyers initiate their search online, while 73% of sellers are more inclined to listing their homes with agencies that use videos. Brokers have stated time and again how real estate video marketing is a major component of their strategy. 

 Just as photography and the internet were a big breakthrough for marketers, videography is transforming the business today. It allows realtors to create a unique experience for prospects as they lure them in by showing and not just telling or informing, making a connection from half a world away. Photography just can’t convey the same message as a video, whether it’s the neighborhood vibe, content quality or maybe even lighting there will always be something lacking when it comes to photos of listings. 

It’s all proven with credible stats too. Speaking of which, did you know:

 Incorporating real estate video marketing tactics receive 403% more inquiries relative to those that don’t?

Landing pages that contain a video receive 800% more conversions than those with just a picture. 

64% of customers utilize video to help them in making a purchase decision as per Forbes. This means if you were to use video, you have a 64% higher chance of being chosen over an agency that doesn’t. 

Why is video preferred in 2021?

Since the global pandemic outbreak, video content has seemingly made its mark leaving a powerful impact on viewers. In times where we feel most disconnected, videos have been our savior in terms of connecting one another, providing a uniquely personal experience. Similarly, customers are able to thoroughly view what they may be interested in, they get to see your face, hear your voice, and speak to you as if they had known you and vice versa. Not to mention this potentially rules out the possibility to fall prey to scammers online. 

 If you’re looking to be THE go-to authority figure in your field, you will need to strengthen the relationship between you and your community. Allow them to get to know you, build trust and view you as a top professional in the domain that you work in. 

What could you lose if you don’t opt for video marketing?

Well, considering that top-performing agents are using video if you don’t start now chances are you will fall short on producing an effective marketing strategy. Not to mention, you may even lose business to your competitors. 

Only some of the best are able to leverage video marketing to their best interests, achieving revolutionary results. Smart adaptations like these are what make a mediocre relator into an extraordinary one. Eventually, this will be the norm, and if you haven’t quite yet decided on it yet, it’s time to readjust your thinking. 

How to execute your video marketing strategy professionally

If you already have a lot going on your plate and are dealing with other business activities that are vital to growing your company. Don’t hesitate to look for assistance or consult real estate sector specialized companies to handle your digital marketing strategy, including video marketing. StreamlineMyREI for instance is an accredited service provider that equips your real estate agency with all that is essential for streamlining your business prospects.  

 From lead generation and data management to digital marketing and virtual property showings, they have got you covered. StreamlineMyREI provides realtors with content marketing services that can elevate your game in the industry. Not to mention, the social media live streams and virtual house tours are all professionally conducted, bound to lure prospects. 

Collaborating with a professional and reputable company always comes in handy. Experienced professionals provide hands-on convenience in dealing with all the latest trends in the market and presenting them to your audience precisely using the right strategies. 

What you need to know on video marketing 

Start off small and maintain quality- As you begin, you do not have to invest in fancy equipment to get the job done. You can always begin with your mobile device and gradually increase your video content quality as per the response rate you receive. 

 However, bear in mind when it comes to videos there is the only thing that viewers are hoping for and that’s quality. While the ad concept and content must be great, to make it really stand out, put some effort into the quality initially, keeping it just above average. Again, you do not have to overspend, but just enough that can keep your audience captivated. 

Consistency with content- As you commit to posting regularly you must always produce impactful and relevant content while adopting the appropriate means of distributing it across social media channels. Build a connection with your communities in order to convert more clients. 

Ensure even distribution- (on social media)- Posting a video and staying stagnant till you receive feedback is not a smart thing to do, a good idea is to run those very videos as ads on different social media platforms to gain a higher brand reach. 

For instance, keeping Facebook’s algorithm in perspective, your brand will only be seen by those who have or are already interacting/engaged with you. When you are looking to build a credible brand image, you want to notify everyone about what you have in store. Be sure to spread out your content regularly so it reaches everyone in your community who may have or not have heard of you before. 

 Eventually, it will catch the eyes of newer prospects where you can gain their trust and create brand awareness amongst them through regular posting. If you consider being the best at what you do, instill it into your prospects’ heads not by literally mentioning it, but by maintaining quality video content. 

Create personalized content for your audience– Creating unique content is one way to win your client’s trust, the other is to market your content as per the relevant group you are dealing with. For instance, you may want to segment your leads in your CRM, preferably a Podio system to create precise, high-quality videos for specific groups. The idea here is to appeal to customers keeping their scenario in perspective. 

 For instance, those with bad credit scores must receive one type of video, (where the content could be based on how individuals can still buy a house with zero down payment and a bad credit score). On the other hand, you will need to come up with different content for when you are pitching to those with plenty of savings and a decent credit score. 

 Link your Facebook ads to your CRM – Using a professional Podio service and having your videos linked to it can allow you to track the performance of your videos and the ad leads that move through your sales funnel. The StreamlineREI Podio offers data management and lead tracking, get in touch with them to find out more.

Strategies you HAVE to try

Target your cold leads with intriguing videos to keep them hooked

Your top-of-funnel leads are unaware of your brand, therefore your video content must be quick, catchy, and informative. Add value to your videos, something that would make them click immediately to know more about your services. Something like: ‘Good news! You can now buy a home with good AND bad credit scores, with NO down payment involved. Interested? Follow the link below for more details.’

 Create individualized video text messages for your middle funnel leads

These guys are closer to buying your services, so the effort you put in is likely going to be worth your time. Try personalizing your approach and sending individual one-off video messages to 10 of these leads every day. Remember not to make the videos about yourself, but rather about them. Talk about them or their day, compliment them or their recent post, this way your brand will be remembered by your potential prospect and they are likely to prefer and refer to your service the moment they or someone else might need it. 

Inform your prospects

Be sure to regularly post a video update with the wonderful upcoming events, places, and businesses within your area. Report to your audience about the new places you may have discovered or are yet to be launched. This is a great way to build connections while connecting with them on a personal level. It is a strategy to consider even if you are new to the real estate industry with barely any contacts. 

Forge real estate updates on your social media networks

Since you are in the real estate market, everyone is curious to know and would expect a market update once in a while. An update is probably the first thing your prospect is going to ask you when they encounter your brand. 

 Don’t be shy to create some unique, short bi-monthly market update videos spreading them out over all social media channels including Facebook ads, while using other mediums such as emails and text messages. 

Video marketing is quick, short, and to the point. Investing so much time and money in open houses can seem unnecessary and irrelevant when you do it all virtually ensuring the same genuine experience. Sure you could spend a good five hours every weekend to conduct ONE mediocre open house OR you can create ONE video, spend a few hundred bucks on advertising it and get twice or thrice the number of hours as watch time. Now you are the judge here, what do you think is a better option in terms of brand reach?