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Recent research by Gradual Homeownership provider Wayhome suggests that the digital revolution has taken hold in the homebuyers market, with 25% of 18-35 year old first time buyers saying they had taken to social media platforms like Tik Tok, Facebook and others to seek advice in the early stages of looking to buy a home.
This should come as no surprise – social media is used by more than 90% of the internet using population, and evidence would suggest those figures are even higher among younger users. Advice about just about anything can be found on various platforms, and the answer to many questions is but a click away.
Of course, the flip side of this is that there is often ‘fake news’ to be found on these platforms, and Nigel Purves, co-founder of Wayhome had this to say:
”…it’s important that when seeking advice, you do it from verified sources and profiles. The good news is that there are a host of bonafide property professionals from across the sector providing informative and accurate information across social media…”
Indeed, in the 21st Century, any firm not making use of the various platforms offered by the internet is arguable hobbling its own chances to reach the widest possible target audience. Websites alone are no longer enough to provide access to prospective clients, and a good social media presence on as many channels as possible is vital to extend your reach and ensure you maximise the return on your marketing investment.
Conveyancing is by tradition a complex and slightly hidebound industry, with archaic processes and legislation which can often influence those who practice within it. But homebuyers, especially first time buyers, are now used to living and operating in a world where technological solutions to almost any need they have exist and are easily accessible. If your firm hasn’t got with the times and established a strong digital presence, there will be others who have, and they will naturally attract the sort of business your firm could be missing out on.
Of course, it’s not all about marketing and social media. Firms would do well to make use of digital solutions in every aspect of their processes. Digital savvy clients may well be attracted by a decent social media presence, but if they sense to much analogue in your processes when dealing with you, at best they’ll be disappointed and potentially difficult to deal with at stressful point in their lives and at worst they may simply take their business elsewhere. Properly maintained and modern CRMs, access to online systems and even solutions like Compass can ensure that your staff’s lives are easier, your cases are processed faster, and your clients are happier.
Don’t waste time you don’t have – the modern conveyancing marketplace is more competitive than ever, and if you’re going to compete for business, you need to be at the cutting edge, or risk your firm going the way of the dinosaurs.