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Virtual Tours and Interactive Panoramas
It's often a feared subject amongst property owners in the property market.. "ADVERTISING BUDGET"
In line with Milson Executive's efforts to achieve exceptional results in the real estate industry, we have taken a look into marketing that our competitors often overlook! As a broad overview of advertising in the industry, real estate agents will often ascertain the maximum 'budget' that a landlord or vendor has available, then they extend this budget into large amounts of print advertising such as Pictorials in the paper, property brochures, flyer drops. These are often no more than locally circulated advertising options which if not used on the correct property may leave the owner with no more than an empty wallet.
In the marketing industry, results are usually qualified by two things:
► Quality of Enquiry; and
► Cost per Lead.
In a recent trial marketing campaign at Milson Executive's expense, 4 ads were placed in the Property section of a large reputable newspaper. 2 ads were 1/4 page colour displays, 1 ad was a 1/4 page colour display in their "Apartment Living" feature, and the last ad was a large 1/2 page display. Total value according to the paper, this campaign was valued at over $20,900 for casual placements.
From this, 4 general enquiries were recieved... From the 4 enquiries, no interest was strong enought to have an offer placed or a property leased.
So what are the 'bottom line' results?
► Quality of Enquiry - Minimal
► Cost per Lead - $5225 per enquiry.
So what lessons are to be taken from this experiment? There are two:
1) Large print campaigns need to be used for the right properties, and still offer no guarantee of results. It is important to establish the right marketing for your property, with the appropriate budget to achieve reaching as many prospective buyers or tenants as possible. If you don't reach any prospective's, you should keep your money in the bank.
2) Give strong consideration to advice regarding effective online campaigns. The internet provides the largest readership above any other form of advertising. The internet currently offers their website to millions of potential buyers and tenants for FREE!
Once the viewer is online it is important to increase the interest with a combination of great presentation, solid information and highly effective digital displays such as Virtual Tours and Interactive Panoramas. This makes your property 'open for inspection' to people anywhere in the world 24 hours a day, 365 days a year. Milson Executive excels in utilising internet advertising to its full potential!
1) How much does an online lead cost?
Milson Executive generates leads through the website that cost between $0 - $1.00 PER LEAD. Often, our leads cost nothing above our general website hosting costs. Sites such as Domain.com and RealEstate.com.au can cost upwards from $400. Premium listings and promotions are also available on these sites, along with marketing options such as email marketing to their subscribers for around 55c per recipient. Considering that the recipient has subscribed and is therefore interested in this information, the cost per lead is highly competitive.
2) How much does a Virtual Tour cost?
Virtual Tour can range quite alot in terms of quality and actual view. Some tours only have one 360' view which doesn't really help in a large multi level house. Tours can start at around $450 and range up to $1,500 for more involved tours. It's best to do your homework as to what your agent is offering before committing to pay for a tour.
Milson Executive specialise in marketing your property online, providing cost effective marketing that gets results! Speak to us today about the options available to assist with your property needs.
View our demo's below to see how we can display your property with Virtual Tours and Interactive Panoramas!