In 2020, 38 percent of the US homebuyer population was born between 1981 and 1996, a generation commonly known as millennials. As a large portion of this demographic enters their prime first-time homebuying years, their market share will continue to grow at a rapid pace.
Long gone are the days where having a digital presence was a nice to have or seen as an added value for real estate brands. Having a robust online strategy is essential to being competitive in today’s market. The change is here and here to stay. From searching for potential properties to signing on the (virtual) dotted line, millennial homebuyers expect the entire process to be digital or at least have the option for it to be. Understanding and adapting to this demographic will be pivotal to success.
Tapping into millennial tech savviness
Today, 93 percent of millennials have smartphones, more than any other generation. They prefer to view homes on the go and in an instant. That is why it is imperative that online property portfolios display high-quality visuals that instantaneously attract and engage. By doing so, real estate brands are reaping significant benefits. In a recent survey, 44 percent of millennials stated they would buy a house just after viewing photos.
Professional photos are key to converting millennials to customers, however, they are just one piece of the millennial marketing puzzle. Virtual tours are quickly becoming the new norm, and with millennials being 2.5 times more likely to be early adopters of technology than other demographics, they have heavily embraced this trend. Virtual tours are a must-have selling tool to engage this tech-savvy group and will bring your brand’s visual content game to the next level.
Creating a qualitative & consistent social presence
It’s no secret that millennials flock to social media seeking entertainment, advice, and sometimes even their next dream home. Companies promoting properties on Facebook, with 72.8 percent of users between the ages of 18 to 44, can reach a massive millennial audience. But engaging with them and converting them requires a high volume of great content.
Photos, videos, drone footage … you name it, millennials expect it. However, quality should not be forfeited for the sake of quantity. Whether an image in a paid Facebook ad or a video highlighting the property of the week on Instagram, corresponding visual content should represent your brand in the best light.
Expertise and professional equipment is needed to visually portray a property’s true essence. Professionals skillfully utilize a combination of great lighting and staging to help buyers envision their life inside the property. In contrast, capturing an image via a phone may be quick and easy, but it lacks the quality needed to stand out on platforms where content is king. According to Verizon Media, 56 percent of millennials prefer to see professionally created content over user-generated content on social.Investing in professional photography that can be used not only on your company website, but also for social media channels, is a smart investment in your brand image.
The OCUS solution
As millennials seek their first properties and continue to capture market share, now is the time to invest in seizing their attention and trust, and to build long term loyalty. To do so brands must produce quality content that satisfies millennials’ craving for authenticity. OCUS™ achieves this for global companies through the combination of cutting edge technology and world-class photographers to deliver custom photos, videos, and virtual tours that captivate tech-savvy millennials.
Contact firstname.lastname@example.org today, to learn how to win over this visually focused demographic and boost your brand’s marketing strategy with images that perform.
Written by: Noelle Brophy – Solution Marketing Manager