In today’s high-tech digital age I often get asked why we still use print marketing when selling homes. It’s no secret our marketing team and partners love to use digital avenues but here are 5 reasons why I continue to market homes using print.
- Our demographic is incredibly dynamic.
Selling homes North of Montana for over 20 years has taught me that the types of people who are in the financial position to purchase a home here vary drastically. People of all ethnicities and age ranges end up in the market. Each has a different relationship with technology. From the young start-up C.E.O., to the retired stock broker, to the entertainment attorney, to the surgeon- all of them need to be marketed to differently. Marketing homes on as many platforms as possible just makes sense. The median age of Santa Monica Residents is 40 years old- an age that tends to have one eye on the paper and another on the web. According to the American Press Institute, 75% of adults age 60 and over say they read print publications in the past week, 61% of adults age 40-59, 55% age 30-39, and 47% age 18-29.
- Print can be more effective.
According to the CMO Council, almost 80% of consumers will act on direct mail ads immediately compared to only 45% who say they deal with email ad campaigns immediately. There is some neurological evidence to support their findings as well. A study by the US Postal service found that physical media causes greater activation of the ventral striatum, than digital media. This is the part of the brain that handles many aspects of reward processes and motivation.
The phrase “fake news” is getting thrown around so much these days that maintaining credibility as a source can be difficult. Print is tangible, and is trusted 34% more than search engine advertising.
- Print is not (as) annoying.
There’s nothing more annoying than clicking on an article on your phone, expecting to readsomething neat, with an interesting title that caught your attention, and then bam! In comes a pop-up ad and of course, you can’t close it for some reason. Ten seconds later, you’re frustrated and you just move-on. Whatever company just advertised to you has left a bad taste in your mouth because now you’ll never know what your favorite Lamborghini says about you. Sometimes an engaging image of a breathtaking property, just to the right of the article is much more effective. The same way print marketing has done it for decades now.
- Digital Marketing is Oversaturated
There was a time, when the mailbox was filled with postcards- digital marketing was new and different and a great way to stand out. Now it’s all the rage and therefore, so much harder to get out in front of the competition. Just like fashion trends get recycled, so do marketing tactics. The numbers do suggest that, in the long term, millennials will be less exposed to print media; however I don’t expect print die within my lifetime.
To be most effective, in my opinion, you’ve got to do a bit of everything…and do it well!
In this week’s real estate news….
Three new listings (well, two are re-listed from last year).
222 Marguerita– Builder opportunity on a large West of 7th lot! Oversized 13,558 square foot lot in the most sought after location North of Montana. Listed for 6,295,000. Current house has 4 bedrooms, 3.5 baths and is approximately 4,100 sqft- needs updating of course but is livable. This one will get the attention of spec builders and owner-users alike and I expect it will move quickly.
107 Larkin Place– 5 bedrooms + 7 baths; listed for 6,295,000. Originally listed last year for $6,495,000. Totally renovated (and essentially new) 4900 sqft house, all above ground with pool and ocean views. Last sold, as land value, for $3,395,000.
714 16th Street – Re-listed after being withdrawn from the market last year. If you like to walk to Montana Ave, this house is for you. It was built in 2006, is 4,100 sqft and Tuscan styled. 5 bedrooms and 5 bathrooms. Listed for $4,895,000. Nice backyard with built-in BBQ area with fireplace and fruit trees. Last sold June 22, 2007 for $3,750,000.
Two property went into escrow.
242 24th Street– Listed by Pence Hathorn Silver for $4,495,000. As expected, this sold within a week after receiving multiple offers. 4 bedrooms, 3.5 baths house with a guest room over the garage. This is a really charming and romantic Spanish and was featured in an article in the LA Times Hot Properties last week!
715 San Vicente Blvd– 3 bedrooms, 2.5 baths. Nicely updated. Listed for $3,289,999. Purchased to fix and flip (last sold May 2017 for 2,500,000).
No closed sales to report.
I have a great little investment property that is not yet in MLS. A duplex can be had for under $3M. Plus a couple of upcoming attractions – including one on La Mesa, that are not yet listed in the MLS, priced from $1.9 million to $16 million.