Recent forecasts on advertising spending for 2020 includes a couple of important takeaways for local media managers making strategic plans for next year. Topping the charts for increased spending in 2020 are auto and real estate, each of which are forecasted to be up by a little more than 3% next year, with about 20% of realtors reporting they will spend more than they spent in 2019. This number, however, does not tell the whole story. What realtors said they will be buying is equally important.
- 67% of realtors report they will spend more on streaming audio and video.
- 44% will be also buying more targeted banner ads.
- Overall online advertising in the category is up 5%.
In total, realtors will be buying a mix of 6.2 types of marketing products. Spending on cable, cinema, directories, radio and other print is forecasted to drop.
Real Estate Opportunities
This means that media companies with a robust online and mobile real estate advertising options are in a great position to make headway in their markets, especially if they can answer the demand for video. iPublish Media Solutions, the leading provider of self-serve advertising platforms, meets this challenge by integrating core video strategies into the AdPortal Real Estate platform designed for their media partners to maximize real estate revenue.
One of the most popular products is turnkey agent video self-promotions via integration with Videobolt.com. Each agent receives a full video with a professional spokesperson talking about the agent’s services. The length of the video can be tailored to the most favorable length of time by the platform it runs on. The second “must-have” video integration from Videobolt is the listing video—a better way to showcase a property than static images. Both are built into the platform and purchased DIY using self-serve technology with a revenue share between Videobolt and the newspaper.
Winning with Real Estate
Bay Area News Group takes advantage of the continued growth of programmatic display and social ads. They implemented a custom real estate digital self-service tool for agents and brokers, developed by iPublish Media and branded LeadHax. LeadHax is winning back the real estate franchise from online competitors, such as Adwerx. Agents in the program have a 50% renewal rate, buy an average of two additional products including print. LeadHax Pro—an enterprise version aimed at brokerages—is now the fastest growth area for real estate.
If you are interested in any of these implementations, Contact Us to set up a demo.
Source: Real Estate Stats – Borrell’s Webinar: “Guidance: Local Ad Forecasts for 2020”