Baton Rouge Area Homes Technology Blog

head_left_image

The Coming Boom in Mobile Real Estate Marketing

Wow, how many of us in Baton Rouge are capitalizing on this technology?  Let me know if you're using it and can give feedback.

mobile marketing

SPS recently announced SPS Mobile Marketer which offers Agents an automated and FREE way to engage mobile consumers with Instant Text Property Flyers, Mobile Web sites and Text Lead Alerts. For more information, go to http://singlepropertysites.com/mobile-features.shtml

To launch this service, we put together a three-part series on mobile marketing and how it is poised to grow by leaps and bounds in the real estate industry.

What happens when the so-called forms of “alternative media” become the mainstream? Real Estate Agents are about to find out. After years of growth since 2001, the total amount of money spent on real estate print advertisement fell in the past year according to a study by Borrell Associates. Why? Buyers are using new technologies and interacting with Realtors in new ways.

In the coming years, real estate agents will need to adapt their marketing strategies or risk becoming an anachronism in a digital world. The old mediums of the past are giving way to two new ways of reaching buyers: the Internet and the mobile platform. There have been countless articles written about the benefits of marketing online; we’re not going to explore that here. Mobile marketing has received less attention, but the importance - and benefit - to Realtors is just as real. In this three part series, we’re going to explore the world of mobile marketing as it relates to real estate agents. This article - Part I - will take a look at how the mobile market is poised to explode. Part II will take a look at the current mobile strategies real estate agents are using and their effectiveness. Part III will try and predict where the technology is headed.

Lately there has been tons of hype in the mobile market in United States.  With the iPhone, 3G networks and the coming release of the Blackberry Bold, it seems like we’re leading the world in mobile innovation. In reality, this buzz masks the fact that the United States trails the world in mobile use. From Europe to Asia, the mobile platform has (generally) matured much further. And all signs point that it’s only a matter of time before the extraordinary growth abroad trickles down to the United States - both in terms of uses and technology.

Two recent reports, one by Limbo - a mobile marketing tracking group - and the other by Nielsen Mobile shed the following light on mobile growth worldwide:

  • There are currently 262 million cell phone users in the United States
  • Of those, 55 percent actively use text messaging. In Britain, 93 percent use text messaging. In India, 94 percent.
  • The number of text message users in the U.S. grows by several percentage points each quarter.
  • In the U.S., just 37 percent of users recall seeing a mobile advertisement on their phone, versus 51 percent in the UK and 85 percent in India
  • In the U.S., 60 percent of mobile users between the ages of 18-24 recall seeing a mobile advertisement. This is an increase of nearly 10 percent over the past six months.
  • As of May 2008, there were 40 million active users of the mobile Internet in the U.S.

What sort of takeaways can you get from these statistics?

There is a huge untapped market in the United States. With 262 million active cell phone users, the potential market is quite big. However, the U.S. isn’t fully using the mobile technology at their disposal quite yet. The number of users actively text messaging grows each quarter, as does the number of mobile Internet users. There’s every indication that our usage will catch up with Britain and Asia - it just has taken a bit longer.

Mobile marketing is a great way of reaching a younger audience. Not only are younger demographics more likely to use rich mobile technologies, they also encounter more advertisements (or at least remember them better).

The Mobile Internet is maturing, and will continue to. According to Nielsen Mobile, the U.S. actually is one of the largest mobile Internet market in the world. While just 15.6 percent of users use the mobile Internet, that still is more than 40 million people. And the number continues to grow as new technology like the iPhone makes mobile Internet browsing easier.

How fast will the marketing component mature? The U.K. and Europe saw nearly exponential growth once their subscribers started using more and more mobile technology, and as the U.S. market grows, experts predict we’ll see the same. This from Brandweek:

“Forrester Research forecasts that mobile-marketing spending in the U.S. will surge from the $270 million it stands at now to $405 million in 2009. Then it all goes exponential, doubling every year through 2012, at which point the Cambridge, Mass.-based research firm predicts mobile marketing will be worth $2.8 billion.”

So how can you as a real estate agent tap into this huge market and make a difference in your bottom line? What technologies are at your disposal? Find out more in parts II and III, coming soon.  Either stay tuned to ActiveRain or head over to the SPS Blog to make sure you don't miss a thing.

Comment balloon 4 commentsAnn Dail • September 18 2008 08:08PM

Comments

I am repeating a comment by riathareja which was accompanied by unreadable text:

As they say, the strong will survive or, in this case, those with a solid record, excellent service, the ability to shift with the market and, frankly, those with some cash in the bank have weathered the shift.So what is the A game in real estate these days? It's different than what it used to be. Here's my take on the topic: The Real Estate A Game (most of this is not new)
- Full time
- Admin assistant
- Significant internet presence
- Online social networking
- Virtual tours for all listings
- Tracks expenses for client results
- Is known among local Realtors
- Has a proven track record
- Constantly studies the market
- Constantly listens to the mortgage moving target
- Adept at counseling clients through the uncertainties
- Does not work 24/7 (that Realtor will not have longevity)
- Longevity.That's my take. Anything less is B material. For more view-   realtydigest.blogspot.com

 

09/19/2008 02:35 AM by riathareja   Delete Report as Spam

Posted by Ann Dail, Broker/Realtor,CRS, ePRO, SRS, B.A.Chem (Baton Rouge Area Homes, Louisiana, USA, 225-761-0551) about 10 years ago

Ann ... I am not up to date on this ... so how can we Realtors make a difference in this mobil technoligies market?  What technologies at disposal?  Thanks for the blog note.  Or check out SPS Blog.  Harrison

Posted by Harrison K. Long, REALTOR , GRI, Broker associate, Attorney (HomeSmart, Evergreen Realty) about 10 years ago

Harrison,

I'm not up to date on this technology either, but intrigued by it.  The younger generation wants interactive...WI video, user-controlled internet such as interactive virtual tours, etc.   It seems there may be a powerful tool here.  

I listened to SPS audio on Why More Realtors Aren't Using this technology.  Two problems I see...one they mentioned.. are correct pricing + Realtor control of content.  I think there is probably a price point to make this effective.  For example I looked at internet booking services as an alternative for listing appointments and passed up several until Central Showing Services came into our area and offered up to 4 new listings a month for $40 dollars, and that included a phone number Realtors can call for appointments 7 days a week.   I can't maintain an effective service for that price so we switched.  Secondly, control of the input would be critical.  For example I can change my listing information, or my sellers can change it, at any time.  We don't have to rely on an outside sercice to do it for us.  From what I have previewed of this mobile marketing, it's sort of like having a printed brochure online that user can request on demand.  My experience is that a brochure never sells a home, just reminds potential buyers of what they have seen.  Also, Realtors want to capture phone numbers or emails and it seems this might give less lead potential???

Posted by Ann Dail, Broker/Realtor,CRS, ePRO, SRS, B.A.Chem (Baton Rouge Area Homes, Louisiana, USA, 225-761-0551) about 10 years ago

I have seen this also but do not think it will become popular anymore than the voice/radio ones were...

 

kelly willey christian realtor bel air Maryland

Posted by Kelly Willey, Short Sale Agent - Harford County Maryland Real Estate (Long and Foster BEL AIR MARYLAND) about 10 years ago

Participate