Technology and storytelling are redefining real estate marketing

The Cyprus Mail’s Souzana Psara caught up with Cyprus-based marketing agency CAPSBOLD’s PR Director Olga Loktionova at the Elevate Summit 2024 in Limassol, where they discussed how branding, influencer marketing, and emotional storytelling are transforming the real estate industry.

From the UAE to the USA, Loktionova shared insights on how top companies connect with global buyers, building connections with buyers worldwide.

Branding, Loktionova explained, is “no longer limited to logos and slogans in today’s real estate world—it’s about creating an identity that resonates deeply with buyers”.

“Today’s market is highly competitive, and buyers are looking for more than just properties; they want a lifestyle,” she said.

According to Loktionova, successful brands are those that build emotional connections with their audience, fostering long-term relationships.

To achieve this, Loktionova pointed to essential tools such as branding, influencer marketing, and high-quality emotional content, especially in terms of photo and video content.

“These work together to create strong emotional engagement with potential buyers,” she said. Citing a Harvard Business Review study, she noted that “emotionally connected customers are more than twice as valuable as satisfied customers.”

Influencers, she added, are especially impactful in this dynamic, making properties feel “more accessible and personal, particularly for international buyers.”

Loktionova emphasised that real estate is a profoundly emotional purchase, and platforms like Instagram and YouTube enable influencers to showcase properties in relatable and compelling ways.

For international buyers, she explained, influencers bring a personal and authentic touch to property marketing, especially when they share real-life experiences with their audience. “This emotional connection is crucial for buyers who may be thousands of miles away,” Loktionova said.

She pointed out that influencers in real estate markets, such as in the UAE and USA, have increased lead generation by up to 60 per cent.

As an example, Loktionova mentioned Ryan Serhant, a prominent real estate blogger and Netflix star of the series ‘Owning Manhattan’, who skyrocketed his career thanks to his personal brand, storytelling, and creative influencer marketing campaigns.

Exploring current marketing trends across regions, Loktionova observed that each market has distinct preferences and strategies.

In the UAE, for instance, real estate companies have boosted video marketing budgets by 45 per cent, focusing on Computer-generated imagery (CGI) videos that foster emotional connections with buyers.

In the USA, data-driven marketing takes precedence, with companies like Zillow and Redfin personalising the buyer journey through predictive analytics, resulting in a 20 per cent increase in lead generation.

Meanwhile, in Europe, sustainability has become central to branding, with buyers increasingly willing to pay premiums for eco-friendly developments, a trend reshaping how properties are marketed.

Loktionova also shared insights on the emerging real estate market in Cyprus, which she attributes to its tax incentives and Mediterranean lifestyle.

“Cyprus is on the rise,” she said, “with the residential market projected to grow significantly, expected to reach €87 billion by 2024, with a 4.15 per cent growth rate through 2029.”

Developers in Cyprus, she added, should focus on presenting properties as lifestyle choices rather than pure investments, appealing to the emotional motivations of global buyers.

Technology, particularly CGI, is also transforming real estate marketing. Loktionova described CGI as a crucial tool, especially for developments still under construction.

“It allows potential buyers to visualise properties in a detailed, immersive way, fostering an emotional connection even before the project is completed.”

The global CGI market, she noted, is projected to reach €12 billion by 2028, further emphasising its growing importance.

Loktionova also emphasised that real estate marketing must evolve beyond transactions to focus on selling dreams, emotions, and lifestyle.

“Branding, storytelling, emotional marketing, and CGI videos are no longer optional; they are essential tools for the success of your company, to stand out in a competitive market,” she explained.

“These tools help build lasting relationships with buyers. So, the question is: how will you elevate your business tomorrow?”, Loktionova concluded.