Despite living in an increasingly globalised world, in which communication and marketing hold little geographical constraints, “location, location, location” is a phrase that still bares significant weight within the world of property. Given the importance of location in relation to the property market, Location-Based Marketing (LBM) remains an effective way for estate agents to promote and sell their properties.
What is Location-Based Marketing
LBM is essentially a direct marketing strategy which uses the location of a mobile device to inform the owner of the device about business offerings in near-by locations.
Such location-based alerts are typically delivered to smartphones and other mobile devices through SMS text messages. LMB requires the end-user to opt-in to this type of marketing. This opt-in process is initiated when the end user downloads a mobile app and accepts the app’s request to use the device’s current location.
For the property industry, which is inherently location orientated, such LBM apps are proving an effective and popular way to help homebuyers find relevant properties in their area.
The barrage of location-based apps that have been flooding the property market in recent years essentially work in the same way.
A property searcher downloads a location-based app on their mobile device, they then utilise the device’s GPS which determines their location, and the application then retrieves location-based property data.
The benefits of LBM for estate agents
Such location-based technology can be extremely effective for estate agents, as it allows agents to alert homebuyers to all existing and new properties entering the market in a specific area.
Agents can reach their target audience in the right place. Not only can agents inform prospective property buyers of all new properties in their existing area, but they can also alert them to property price drops, whether a property has been sold and any changes or updates that might be relevant to their property search in an area.
Deepening connections with location-based target audiences
When targeting property buyers within a specific area, estate agencies can centre their content to characteristics that are shared and desirable within a local area. Locality-centred content can resonate more deeply with homebuyers and help them feel more connected to your agency.