September 30, 2021
How Does the Future of Digital Advertising Impact Home Builder Marketing?
Digital advertising and marketing strategies are always evolving, especially now after the effects of the global pandemic. Post-pandemic consumer expectations and preferences continue to shift based on consistent changes within the social environment as consumers adjust to a new normal.
Several digital marketing strategies and tools emerged to provide fresh solutions to solve new challenges within the digital consumer landscape. Home builders and developers must meet shifting advertising trends to continue effectively engaging their target audience and enhancing brand visibility.
Below, we assess how post-pandemic consumer habits caused advertising shifts and the essential adjustments needed to successfully reach and engage target audiences.
Emphasis on Privacy
One of the largest trends in today’s digital advertising is the heightened awareness of the lack of online privacy. There are high demands from consumers for privacy protection and the ability to stop companies from utilizing their personal data. These intensified pressures from audiences pressure companies to employ innovative measures to former data tracking tactics.
Finding Alternatives to Third-Party Cookies – Previously, many companies heavily relied on third-party cookies, a tool that aids in determining online actions of target audiences including where they search, shop and browse.
With an emphasized focus on privacy and stricter data-use regulations, third-party cookies are quickly being eliminated as a method for data collection. Google announced that by the end of 2023 it will end its support of third-party cookies. This change is expected to have widespread effects on many companies’ digital marketing strategies.
As the use of third-party cookies dwindles, marketers must adjust and begin gathering first-party data as an alternative. Other useful tools are Google's Privacy Sandbox or FLoC (Federated Learning of Cohorts). These systems allow companies to respect user data privacy yet receive consumer targeting information based on the behavior of online groups with similar interests to the target audience. As an additional alternative, we believe that customer relationship management (CRM) tools and interactive content will continue to serve as instrumental tools for a strong digital marketing strategy for home builders and developers.
Although many consumers dislike their data being collected, they also prefer advertisements that speak specifically to their lifestyle, rather than generic widespread messages. By adjusting advertisements through clever methods to follow privacy guidelines, companies can continue to offer relevant content to customers.
Studies show that 91% of consumers are more likely to buy from brands that provide offers and recommendations that are relevant to them. With the decline of opportunities to utilize data to personalize content for homebuyers, home builders and developers can pinpoint new ways to create customized offers for prospective buyers. By doing so, home builders and developers make the buyer feel like more than just a number, leading to authentic connections and increased lead generation.
Today, new touchpoints are consistently emerging and providing consumers with additional ways to find relevant brands. From smart home technology with voice search to virtual reality technology, smart TV displays and smart kitchen appliance screens, there are numerous ways to reach buyers within their homes with appealing offers and incentives.
As opposed to traditional marketing campaigns, it’s important to consider the new touchpoints available to consumers that influence the ways they are exposed to and interact with brands. Building strong relationships with prospective buyers is easier for home builders and developers with higher visibility on a wide variety of channels used by their target audience. Home builders and developers can take advantage of these new touchpoints and platforms by developing creative and thoughtful strategies to restructure the conventional marketing campaign and successfully reach their target audience.
Rise of Artificial Intelligence
A predicted shift looking forward is the widespread growth in the use of artificial intelligence (AI) among companies for augmented audience targeting methods. AI is widely used to gain insight and predict target audience behavior. AI offers the use of predictive analysis which calculates the prospects of certain audience actions and behavior based on the online behavior of similar consumers.
Hybrid Event Planning
After the events of the COVID-19 pandemic, two groups emerged with contrasting approaches to following social distancing mandates. While some consumers enjoy opportunities to gather in person while social distancing, another group is content attending virtual events and webinars from the comfort of their homes.
Businesses are implementing practices to cater to both audiences moving forward by creating hybrid events. For those eager to physically interact, these events offer wonderful opportunities for in-person interactions. However, for those who prefer to avoid crowded events, hybrid events provide immersive virtual components by utilizing virtual reality (VR) technology that allows at-home audiences to participate. This offers both groups the opportunity to participate while allowing each to remain within their comfort zones. Home builders and developers can easily embrace hybrid events for prospective home buyers and realtors.
Prioritizing Mobile Marketing
Many consumers continue to spend large amounts of time on their mobile devices, presenting a valuable opportunity for businesses to capitalize on this outlet. With the increase of mobile use influencing the way homebuyers browse online, home builders and developers must ensure their websites are optimized for mobile device users who may be discovering their website for the first time during their new home search.
We predict that many home builders and developers will place greater focus on mobile advertisements and mobile-friendly marketing strategies to capture the attention of their target audience. By 2022, mobile advertising spending worldwide is forecasted to exceed $240 billion, compared to $189 billion in 2019.
Savvy home builders and developers continue to adapt digital marketing messages to meet evolving homebuyer mindsets. This means considering how many consumers’ relationships with their homes changed.
While the pandemic greatly changed the way we carry ourselves in public spaces, it also changed the way we think of our homes. Not only are our homes a place of comfort and security, but they’re also the place that many think of as their office as many companies continue to allow employees to work remotely. Home builders and developers should consistently allude to this sentiment in their advertisements that target homebuyers to demonstrate how they understand and meet the needs and expectations of their buyers.
It’s also important to consider best practices to differentiate advertising content from the 4,000 to 10,000 advertisements that digital marketing experts estimate Americans are exposed to daily. Companies that offer overused hard-selling statements and phrases to capture attention are ignored in favor of brands that provide compelling, well-crafted messages. Successful advertisements inform and educate customers on why the brand’s offerings provide lifestyle convenience.
Partner With Milesbrand to Meet Evolving Digital Advertising Trends
The digital marketing and advertising landscapes are always changing to match the shifting attitudes and expectations of homebuyers. Your brand must adapt to those shifts to maintain strong brand visibility, effectively target the right buyers and continue building authentic connections with prospects.
At Milesbrand, we utilize strategic, creative approaches to deliver exceptional branding and marketing solutions. Allow our team to bring your brand to life and introduce your brand to the right audience through comprehensive digital marketing strategies. Contact us today to learn more about how we can develop powerful strategies to set the foundation for your brand.