Next, the Internet Ad Bureau (IAB) survey provides directional data around what leading advertising buyers are planning to do with their marketing and advertising budgets for the remainder of the year. Quick highlights include:
* Ad spend will drop more than 30% overall, with offset increases in cause- and mission-based messaging and audience targeting.
* There will be significant decreases in geographic targeting. READ MORE
Check out global ad tech leader Pubmatic’s infographic depicting industry ad spend growth and declines by category. Real estate is showing as relatively flat, meaning that real estate ad spend on its global ad platform has increased marginally; it has not dropped as drastically as travel or retail. READ MORE
Realtor.com released its research sentiment on what the industry should expect. "There are more than enough buyers out there to keep home sales from slowing in any major way," stated Realtor.com Chief Economist Danielle Hale, suggesting that the combination of plenty of buyers, a shortage of housing supply, and favorable interest rates will keep the industry moving forward. READ MORE
Trulia founder Pete Flint’s excellent article outlines the 28 moves to survive through this economic downturn. Pete has a grasp on real estate, markets, and operations like few do, and he is an inspiration to all of us working in the disruptive side of real estate. READ MORE
eMarketer tracks ad spending across the globe, and in this latest report is forecasting a decline from $712B to $691B due to COVID-19. While this is most certainly a significant hit, it is important to note that $691B global ad spend in 2020 would still represent growth over 2019. While it shall be seen if this holds true, it provides a macro-level benchmark for the current and future state of real estate marketing budgets. READ MORE
Last (and maybe least?!), my article about real estate advertising during coronavirus, citing long-held beliefs that advertising during downturns while not for the faint, can make for a much stronger brand in the long run: “The bottom line is: advertising seems wasteful right now. But the opposite is true if the message and service being provided is tasteful and can help people with whatever challenges they are facing now, or in the future.” READ MORE
Use the next few weeks to cut non-measurable and low-ROI channels, and tightly measure your sustained spending. Use the time to build up your CRM from the high volumes of online consumers and low ad rates.
Edit your messaging to be cause- and mission-based. Don’t be promotional. Adjust ad messaging to be service-oriented.
Addressable advertising - meaning highly targeted to the right prospects and customers - along with search and social are the ad channels to sustain or even grow per IAB’s survey of leading ad buyers.
At Audience Town, we are helping our real estate advertisers by offering complimentary insights and reporting services until further notice. Learn more about customers while planning for the future.