Once an amazing new luxury real estate development is complete, it’s time to fill the property. Developers have success generating PR from a great launch event, create compelling visuals and a beautiful website and buy ads in luxury magazines.

These tactics may generate buzz but they’re expensive and don’t allow developers marketing luxury properties to directly track leads and potential new homeowners. The best way to track a lead from connection to the property and increase walk-throughs, is to utilize digital advertising and social media.

Done right, this can double the amount of incoming interest in the property.

Here are 4 reasons why digital marketing and social media for luxury real estate deliver in ways that other marketing can’t:

  1. Micro-targeting: While your branding may be great, people may be interested in the property for different reasons. Social media allows you to efficiently customize those messages for each audience. For example, if your development is near a hospital, you can develop ads of convenience that are specifically targeted toward doctors. You can simultaneously develop ads about the lower cost of maintenance for retirees looking to downsize. These two campaigns will be specific to each audience and more cost effective than one costly magazine ad.
  2. Ad tuning: With digital and social, you can easily A/B test different ads and then redirect spending towards the ads that work better. Using the doctor’s example above, you can run one ad around convenience and a second ad around luxury styling. If the doctors respond better to luxury styling, you can stop the convenience ads and spend more on the higher performing ads.
  3. Ad measurement: There is very little information about how print ads perform. With digital and social ads, you can get exact numbers of views, click-throughs and conversions. If you have the right process, you can track people all from the ad to the sale. Digital ads for real estate also allow potential clients to easily contact you about the property.
  4. Cost effectiveness: You can test social and digital ads at a fraction of the cost oftraditional advertising; therefore, you can generate improved results for every dollar you spend.

While the boss may questions social media as the right way to reach the luxury buyers, don’t let old prejudices misguide you. Everyone is on Facebook and the data they have allows you to target the exact right group for your property. Ultimately, more of the right visitors to an ad, means more visits to the property, more sales and a happier boss.