The impact of the COVID-19 virus on the world of business has become more tangible than ever. With companies struggling in keeping their workforce and with a vast variety of budget cuts, it’s extremely mandatory to understand and properly assess the value of technology and the impact it will have in digitalisation for the future after this pandemic. Let’s analyse the most valuable pieces of tech which the property industry should take into consideration.
Go Digital, Marketing-Wise
Digital Marketing has become incredibly complicated and flexible in its approaches. Strategies like SEO, PPC and retargeting for social media ads have given small and medium businesses opportunities to scale massively and in a relatively short timeframe, especially if you host events such as commercial property auctions. The usage of digital marketing strategies within the real estate sector is definitely very likely to overcome bulky and “traditional” marketing approaches after this pandemic ends.
The Usage Of Data
It’s very important to remember that data has recently become far more valuable than oil, becoming the most looked after asset on Earth. Data, within the property sector, can be used to better serve clients, automatically and without relying on bulky financial processes which not many are ready to take, effectively wasting time to both the company and the client. Finance (fintech, in this case) as a whole has been moving towards the usage of data for their digital protocols since 2018, which is extremely important to state, as it’s very likely to grow even further in the next couple of years.
The Market Value
The downside of the digitalisation is the fact that the quality of services may or may not go down. Everyone could approach the real estate sector, even the ones who are totally inexperienced and, if combined with a proper marketing strategy, this could be very bad for the whole business sector. With this being said, it’s still important to state that the digital real estate sector amounts for billions in the UK exclusively, and with a margin growth of over 30%, we can safely say that the time for investing in the matter is now.
Technology is set to become the main pillar of real estate investment, management and auctions. There are plenty of startups opening on this very matter, ranging from architectures build to proper applications made to simplify and speed up investments, mortgages and, of course, management within the real estate sector.