CR Magazine - Winter 2016

GEOTARG
ARG ETING
In today’s world of advertising inundation and advertising
overload, it’s challenging to reach the right consumers, with the
right message, at the right time. This is especially true in the
are in the traditional sales cycle, we can also pinpoint their
physical location. Geolocation targeting/geofencing and Beacon
technology are two highly effective ways to market based on a
real estate industry. Unlike a traditional B to C transaction where consumer’s location. These technologies have distinct differences,
selling a product or service to a
“
but their purpose is very much
consumer has measurable and
the same: to know when a mobile
Location, location,
predictable competition, marketing
device is within a specific location,
real estate comes with additional location-based marketing and to trigger something to
”
“
competitive elements. Not only
happen on that device.
may become the newest adage
are we competing with other
product (listings), we are grappling in real estate marketing.
”
What Is Geolocation
with various sources who are trying
Targeting/Geofencing?
to capture leads and customers by using our product (listings)
Geolocation targeting is basically personalizing customer
to attract them. Each of us is battling competitive agents and
communications based on their whereabouts in the world.
brokerages, as well as syndication portals like Zillow, Trulia and Targeting can be done by country, state, city, ZIP code, or GPS
Realtor.com ® for the attention of the consumer.
location. An invisible electronic “fence” can be drawn around a
Location, location, property. Targeting moves location-base
in concentric circles, with GPS Historically, real estate casts a wide net when it comes to its
being the most specific or granular—the center of the bull’s eye, if
marketing strategy. We set out to get as many eyeballs on our you will. Geolocation targeting technologies utilize smart phone
listing, by any means possible, and if it is priced and positioned GPS, Bluetooth and sometimes Wi-Fi to reach customers.
correctly, it will sell. This approach still works, most of the time.
However, situations arise where we have to with more What is Beacon Technology?
precision. Marketing new developments, homes up-andcoming
locations and highly unique properties come with myriad Transmitters (beacons) are placed throughout a space to push
Beacons are basically the in-room version of geofencing.
in real estate marketing.
”
nuances that can pose a challenge in reaching their true target alerts, information and highlights to a location-based app on a
market if only traditional methods are used.
consumer’s device.
Location, location, location-based marketing may become the How can these technologies be used?
newest adage in real estate marketing. Now, not only can we
Most modern real estate websites have geolocation functionality.
utilize predictive analytic technologies to pinpoint where buyers For example, by downloading Coldwell Banker’s search app, a
24 Chicago REALTOR ® Magazine
tion, location-based
e the newest adage
g.
marketing may become the newest adag