In the bustling world of real estate marketing, there’s a transformative player that’s been making quite a buzz lately — artificial intelligence (AI). According to Forbes Advisor, 97 percent of business owners believe that AI, specifically ChatGPT, will positively impact their businesses. This comes as no surprise given AI’s projected contribution of a 21 percent net increase to the United States GDP by 2030.
ChatGPT, in particular, has been winning hearts and minds in the business community, with 1 million users hopping onboard within the first five days of its release. These remarkable figures indicate the enormous potential of AI to revolutionize your real estate marketing strategies.
However, using AI merely for content creation is just the tip of the iceberg. It’s time to dig a little deeper and uncover how AI can truly elevate your real estate business.
1. Tailoring content with a unique voice
Every piece of content you create as a marketer speaks to your audience. AI can help you make that connection even more personal by enabling you to create content in your unique voice or that of your company. This world is evolving not year by year, or even month by month, but day by day. We are wicked close to hyper-personalized marketing, where AI can reach each person you market to and craft messages to them specifically, all while doing so in your voice and on-brand.
With the right prompts, AI can not only write in various tones — casual, technical, serious, playful, you name it — but also replicate a specific content creator’s style. This capability could explain why one in three businesses plan to use ChatGPT for creating website content, according to a Forbes Advisor survey.
2. Breaking language barriers
In a globalized world, the ability to communicate in multiple languages is vital. ChatGPT can translate your content into dozens of languages, providing an invaluable tool for reaching a diverse audience. This capability is so coveted that 44 percent of businesses aim to use ChatGPT for multilingual content creation.
While generative AI tools aren’t dedicated translators, their user-friendly interfaces and rapid response times make them suitable for simple translations.
3. Exploring marketing scenarios
One of the fascinating applications of AI lies in its ability to simulate a multitude of marketing scenarios, facilitate unique role-playing exercises, and generate adaptive responses to various challenges. This means you have a virtual ‘sandbox’ at your disposal, where you can explore, experiment, and learn without any real-world repercussions.
By carefully defining your objective, setting the context, specifying roles, and crafting a storyline, you can guide AI to generate insightful responses and action plans. This could involve mimicking potential customer interactions, simulating responses to different marketing campaigns, or envisioning how various scenarios might play out based on existing data.
You could be wondering how your customers might react to a new product launch or how a certain demographic might perceive a new marketing campaign. With AI, these simulations can become a part of your planning and strategy process.
These simulations are not just about creating hypothetical situations. They can help you anticipate potential pitfalls, devise strategies to overcome them and identify opportunities that you might have overlooked otherwise. For instance, AI could simulate customer reactions to a new pricing strategy or a new product feature, helping you fine-tune your approach based on the feedback generated.
Of course, leveraging AI for such advanced use-cases involves more than just inputting a basic command. It requires clear and thoughtful prompts along with an understanding of your business context. However, the insights you can gain from these simulations are worth the extra effort. They can provide you with a comprehensive understanding of the potential outcomes of your marketing strategies, helping you make informed decisions and avoid costly mistakes.
Ultimately, the goal is to make your AI tool a strategic partner, one that helps you analyze, plan, and predict outcomes more accurately. This is not about replacing human creativity or intuition; it’s about augmenting it with powerful, data-driven insights. When used correctly, AI can become an invaluable tool in your marketing arsenal, helping you navigate complex marketing landscapes with greater confidence and foresight.
This is a paradigm shift in how we understand and approach marketing strategy development. By embracing AI, we’re not just streamlining processes or increasing efficiency; we’re redefining the very framework of strategic marketing planning. Let’s welcome this change and see how far it can take us.
4. Inspiring brainstorming sessions
Who says AI can’t be creative? When inspiration is hard to come by, AI can be a surprising ally for brainstorming fresh marketing ideas. Especially when you get in the habit of asking it about things you aren’t thinking about.
When we were training our team of AI Advisors, we started with on the world of luxury real estate and the accompanying client expectations. We also included the needs of our clients, the real estate business owner. The AI Advisors each have areas of specialty, are trained to exceed expectations, to deliver not only the answer to the user’s question but to also deliver the phycology and reasoning behind it.
Consider AI as a conversation starter, a brainstorming partner that can suggest novel marketing ideas based on your brand’s identity and customer demographics. You can even integrate AI into your team brainstorming sessions for additional input or refining ideas. Let your creativity fly.
5. Crafting your marketing plan
Crafting a comprehensive marketing plan is no small feat. It’s like putting together an intricate jigsaw puzzle with numerous moving parts. But here’s the good news — AI can be a valuable co-pilot on this journey. By breaking the process down into manageable steps and incorporating AI into each phase, you can create a marketing plan that aligns with your business goals and boosts your overall productivity.
Considering that 64 percent of businesses expect AI to increase productivity, this AI-assisted approach holds immense promise.
Let’s delve into some key aspects of the marketing plan where AI can lend its genius:
- Defining marketing objectives: To start off, we need to identify what we want to achieve. AI can analyze your past performance, identify patterns and trends, and then suggest realistic and actionable objectives for your business.
- Identifying target audiences: Knowing your audience is pivotal to your marketing success. AI can help you analyze customer data and behavior patterns, segmenting your audience and identifying your key demographics more accurately.
- Formulating a content plan: A well-structured content plan is the backbone of your marketing strategy. With AI, you can predict trending topics, assess content performance, and tailor content to your audience’s preferences.
- Designing specific campaigns: AI can boost the effectiveness of your campaigns by suggesting personalized communication strategies, optimizing campaign timings, and recommending the most impactful channels to reach your audience.
- Allocating budgets: Budget allocation is a critical aspect that needs careful consideration. AI can analyze historical data, assess the ROI of different channels, and suggest a budget allocation strategy that maximizes your return on investment.
- Setting KPIs and success metrics: What gets measured gets managed. AI can help identify key performance indicators and success metrics that align with your business goals, providing a clear roadmap to success.
- Creating an implementation plan: AI can streamline the execution of your marketing plan by automating tasks, scheduling posts, and providing actionable insights to optimize performance in real time.
- Analyzing results and optimizing: AI is excellent at crunching numbers. It can evaluate campaign performance, provide real-time analytics, and suggest tweaks for improving future campaigns.
By integrating AI into these areas, you can build an effective marketing plan that not only aligns with your business goals but also adapts to changing market dynamics.
Harnessing the power of AI in your marketing plan doesn’t mean you’re abdicating control. Instead, it means you’re arming yourself with a powerful ally that can help you navigate the complex world of real estate marketing with more clarity, precision, and insight. The future of marketing is here, and it’s intelligent, agile, and data-driven. Are you ready to seize it?
Chris Pollinger, founder and managing partner of RE Luxe Leaders, is the profit whisperer to the leadership elite in the business of luxury real estate. He is a national speaker, consultant and leadership coach. Learn more about his broker, manager and team leader growth programs at RELuxeLeaders.com