Breaking Property News – 07/12/23
Daily bite-sized proptech and property news in partnership with Proptech-X.
Blend of short-tail and long-tail lead generation strategies is crucial for estate agents
In the ever-evolving estate agency sector, the game-changing role of digital marketing is more evident than ever. Recognising the significance of a well-rounded approach, today’s estate agents are urged to embrace a balanced mix of short-tail and long-tail lead generation strategies to capture and nurture leads effectively.
Richard Combellack, Chief Commercial Officer at nurtur.group, a leading digital marketing solutions provider, highlights the importance of owning digital assets within one’s territory. “If you have 20,000 homes in your area, how many digital marketing assets have you captured within the region?” he asks. “Of the potential 20,000, how many email addresses have you captured, phone numbers and social media profiles? If you are currently at 10,000, you would have a 50% capture rate of digital marketing assets.
Now, what is your marketing strategy to nurture those leads through elements such as text messages, social media and through email marketing to convert those leads when they are ready. Both short-term and long-term digital marketing strategies are essential for businesses, especially if there is a potentially lengthy time frame between capturing a lead and converting that lead.”
He notes that short-tail marketing strategies, such as pay-per-click (PPC) adverts, are crucial for capturing individuals in the short term when the consumer is already in the mindset of looking for a valuation of a property or an estate agent. These methods offer rapid results, ideal for agents seeking immediate visibility or aiming to boost leads within a short window.
“Your short-tail marketing goals can be accomplished in a day or a month, but they typically help build toward your long-tail strategies overall,” adds Combellack. Search-engine PPC, paid display ads, and social media ads are among the quickest ways to generate traffic and visibility, providing a prominent presence in search engines almost instantly.
According to Combellack, while short-tail methods yield quick wins, estate agents are encouraged to invest in long-tail strategies like SEO, building a social media following, email mail marketing and content creation. These methods, though requiring more time to manifest, are instrumental in building lasting relationships with clients and maintaining positive results.
Search Engine Optimisation (SEO) “The best part about SEO is that you don’t need to spend any extra money on it,” emphasises Combellack. SEO involves targeting specific keywords to gain natural search engine traffic, providing a cost-effective and high-return approach to online marketing.
Social Media Building a social media following takes time, but the long-term benefits in increased brand recognition and sales are worth the investment. Posting regular content and engaging with the audience are key components of a successful social media strategy.
Content and email marketing Crafting compelling content tailored to the target audience is a critical aspect of long-term strategies. Regularly creating original content enhances SEO and social media efforts, distinguishing your brand in a crowded market. Email marketing plays a vital role in nurturing leads over time, ensuring a steady conversion flow.
Combellack emphasises, “Incorporating both short-tail and long-tail lead generation strategies is extremely useful for businesses. For capturing leads, you should be using your short-tail strategies, but the end goal is to convert those leads with the help of your long-tail strategies.”
In conclusion, estate agents are urged to adopt a holistic digital marketing approach, leveraging short-term strategies for immediate impact while concurrently investing in long-term efforts to nuture leads and build lasting connections to ensure sustained success. The nurtur.group delivers technology services to the property industry through brands such as The Property Jungle, LeadPro, BriefYourMarket and Starberry, a digital lead generation powerhouse, its membership organisation, The Guild of Property Professionals, and its global premium estate agency brand Fine & Country.
Estate agents urged to prevent cyber attacks
The Guild of Property Professionals is urging estate agents across the UK to be on high alert as cyber attacks targeting the property sector continue to surge. Recent incidents of cyber attacks impacting conveyance and law firms that have brought thousands of property transactions to a standstill, highlights the need for heightened cybersecurity measures within the industry.
Cyber attacks and claims are on the rise, and estate agents need to be prepared, warns Paul Offley, Compliance Officer of The Guild of Property Professionals. Offley notes that the property sector continues to be a prime target for cybercriminals, with an alarming number of cases where businesses have fallen victim to hackers attempting to defraud consumers. The sophistication of these attacks, including email mirroring techniques, poses a serious threat to the integrity of property transactions.
Amongst other things, the rise in remote working has acted as a catalyst for increased vulnerability, particularly for smaller businesses in the sector. Offley emphasises that the shift to hybrid working has made many businesses more susceptible to cyber attacks, as smaller entities often lack robust cyber defences, making them easier targets. Given the sensitive nature of information held by estate and lettings agents, the escalating cybercrime trend is a significant concern for the industry.
Offley recommends that if they haven’t already, property professionals should take proactive measures to protect themselves against potential cyber incidents. The Guild offers its Members access to free Professional Indemnity and heavily discounted Cyber-crime insurance to ensure comprehensive protection. However, Offley strongly advises all agents to review their cyber coverage with their insurance brokers, as reform within the sector has led to all PI insurers deciding not to cover cyber, so it is now largely excluded from all PI policies.
“Many agents may believe that their PI insurance would protect them against cyber attack, however, over the past 18 months there has been a lot of reform in the sector with PI insurers deciding to no longer cover cyber attacks, so agents now require separate cover and protection,” adds Offley.
Statistics reveal that a significant percentage of cyber insurance claims result from human error, emphasising the importance of education and training within estate agency teams. Simple mistakes, such as selecting the incorrect recipient when sending an email or sharing passwords improperly, can lead to significant security breaches. Offley stresses the necessity of implementing stringent password policies and ensuring that departing employees have their access promptly revoked.
“Unfortunately, the reality is that no one is immune to potential cyber attacks, but having preventative measures in place with offer protection. In the event of an incident, having adequate protection is crucial,” Offley concludes.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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