Brand Awareness or Lead Generation: Which is More Likely to Help You?
Raising brand awareness and generating leads are two common marketing strategies in the business world. While both aim to reel in customers, they differ in approach. The first is about boosting brand recognition so you can forge a relationship with customers, and the second is the process of sparking consumer interest in your product – or property in this case – to make a sale.
Brand awareness starts with a consistent brand image. Focus on cohesive content marketing and differentiate yourself from your competitors by highlighting your unique selling points so your brand sticks in consumers’ minds.
Meanwhile, lead generation begins with communication. You can share content on social media or invest in advertising for potential customers to engage with. Those interested could leave their contact details with you, generating a lead that might turn into a sale.
Myths to Bust
To evaluate the two strategies, let’s first clear up some misconceptions.
Myth1: Brand awareness happens quickly.
Creating brand awareness takes time. But online advertising can help move things along as it has a wider reach and increase the visibility of property listings. The National Association of Realtors in the United States found in 2021 that 97% of homebuyers searched the internet when making purchasing decisions, making online ads an important platform for reaching potential buyers.
Myth2: Brand awareness does not bring in sales.
Focusing on branding might not directly translate into sales but according to this Forbes article, it is key to reaching more potential customers. To buy something as important and costly as a property, customers would likely look for a brand that they recognise and, more crucially, trust. Building a relationship with customers takes time but is often rewarding.
Myth3: Lead generation is a one-time action.
To connect with potential customers, you need to reach out to them consistently. With more people shifting towards online shopping, you need to meet customers where they are. Enhancing your brand’s presence in the digital marketplace through regular online advertising is one way to establish a connection with your customers.
Which to Prioritise
Both strategies are important in the long run. Lead generation helps secure new customers for your business while brand awareness boosts your profile and builds trust with your customer. In short, the two work together to create better synergy.
Generated leads that bring in potential customers through consistent efforts can result in better brand awareness. Conversely, potential customers who recognise your brand might be more willing to follow up with you on your real estate offerings that pique their interest.
In the digital world, brand awareness and lead generation often overlap. You can combine the two strategies by, for example, creating shareable content that highlights your unique selling points. This would help boost brand recognition and interactions with your customers, generating potential leads.
Ultimately, the key is to know how to use these two marketing strategies together to create stable growth for your business. And with PropertyGuru For Business, you can gain access to a comprehensive suite of solutions to your problems. Discover which one works best for you today!
Get started with PropertyGuru For Business
