Online marketing continues to heat up, according to the report released yesterday by Borell Associates.
The report predicts that by 2012, online ad spending in the real estate industry will surpass newspapers. Total real estate ad spending is set to simmer through 2012, but newspapers will be placed on the back burner, but not if they can step up their online game… Online spending in 2008 is not set to grow as quickly as it did 2007, but will continue its move upward as traditional media plummets.
The funny thing is, effective online marketing in real estate doesn’t involve spending money on ads as much as it involves spending valuable time. Companies trained to rely on the dollar to work for them in marketing will be faced with a tough challenge: Participating in the market conversation, and building a brand personality through the Internet. It requires deeper involvement and the willingness to navigate uncharted waters. For marketers in high-level positions that still don’t “understand” the Internet, that sounds like a lot of scary work.
Regardless of how quickly they catch on, money spent on Internet marketing will be a lot more indirect than in the past. We pay a web developers, designers, and writers (or employees) to market online, and let the market spread your message for you. Sure you can take the easy way out and buy an ad on a major newspaper site… but don’t get mad when you don’t see the results you hoped for.
None of the numbers in the summary really surprise me. As early web adopters, Genius readers should be happy we are firmly planting our roots now, and not tomorrow. As the great migration occurs, many new adopters will find out that blogging, social media, and other permanent tactics may provide a longer-term return on investment than buying banners. More will discover that brand building online will require that the company enters the online market conversation or be left unheard of. In other words… it’s going to get crowded in here.
This thanksgiving, be thankful that God put us at the right place and the right time with the right gifts to be successful. Now lets go use our gifts wisely.
PS: If anyone gets a copy of the report (it’s $995.00) let me know.