The real estate industry has a number of unique challenges when it comes to marketing. For example, it’s super-localized, so launching a large campaign might not be such a great idea if you don’t have representation in most states. Also, the industry is time locked and extremely competitive, so you’ll be competing with a lot of people trying to take advantage of different forms of marketing.
That’s why diversifying your strategy and exploring different marketing forms is a must for real estate professionals. Traditional forms of marketing and bus stop signs may not be sufficient to generate interest around your business, so finding new ways to get away from them and take advantage of advanced techniques is critical to stand out from the pack.Traditional forms of marketing and bus stop signs may not be sufficient to generate interest around your business, so finding new ways to get away from them and take advantage of advanced techniques is critical to stand out from the pack.Click To Tweet
In this article, we’re going to explore two great forms of marketing, viral and buzz. Both of them can make a difference for your real estate business if used properly, so let’s see how they can apply them to expand the reach of your business.
What’s the Difference between Viral Marketing and Buzz Marketing?
Do you remember Old Spice’s “The Man Your Man Could Smell Like” campaign that aired in 2010?
The one featuring an actor Isaiah Mustafa transitioning from a bathroom to a sailboat to riding a horse on the beach saying that “anything is possible” with Old Spice?
The ad was so different from traditional marketing forms that prevailed at the time and generated lots of likes, comments, and shares on social media. Google trends illustrate this beautifully. In 2010, the number of searches for “old spice” raised dramatically after being comparably low for years.
On the first day alone, the video with the ad was watched by almost 6 million people on YouTube, and by the end of the year, Old Spice’s sales increased by 125 percent.
This is a perfect example of a viral marketing campaign, or a kind of marketing that encourages viewers to spread the message by sharing the ad on social media, email, and other means.
“On the other hand, buzz marketing is a word-of-mouth campaign where the initial trigger typically comes from an event,” explains Jason Calaway, a digital marketer from Flatfy.“Unlike viral marketing whose purpose is to spread the message, the goal of buzz marketing is to get more people to talk about products or brands.”
Examples of buzz marketing include ads shown during Super Bowl. Since this game is the most watched sports event in the country, lots of brands try to create a fast and effective buzz on social media using its popularity.
So, viral marketing and buzz marketing use similar techniques to achieve their goal, but the main difference between them is that buzz marketing is much more event-based.
The Real Estate Industry: Go Viral or Generate Buzz?
Let me begin by saying that both strategies can work very well for real estate professionals, so in this section, I’m going to give you the information you need to make a decision which technique is the best for your business at this point.
It goes without saying that there are millions of homes for sale in the U.S. right now, so creating an ad that has the potential to stand out from the pack and go viral requires some effort. In fact, if it was easy we would be seeing successful viral videos that drew attention to a specific home every week.
However, this doesn’t mean that it’s impossible and shouldn’t be attempted. After all, according to this report by the National Association of Realtors, 99 percent of Millennials and 89 percent of Baby Boomers go online to find their future home, so chances are they stumble upon a lot of ads.