The business of real estate is highly competitive, dynamic, and localized. In the bid to find the right property or sell one, real estate agents have come to rely heavily on digital advertising, specifically on popular search engines like Google. However, as competition and costs rise on Google's advertising platform, real estate agents are exploring alternatives. One such alternative that is proving itself to be a viable contender is Microsoft's Bing.
Bing often takes a backseat in popular discourse, overshadowed by Google's ubiquitous presence. Yet, the underdog position can be an advantage for savvy marketers, particularly real estate agents. This article presents the potential of Bing as an effective advertising platform for real estate agents.
Why Consider Bing?
As of my knowledge cutoff in September 2021, Bing held approximately 6.7% of the global search engine market share. While this might seem modest compared to Google's staggering numbers, it still represents millions of users worldwide. Moreover, certain demographics tend to favor Bing over Google, including an older, more affluent audience that is often key to real estate transactions.
Bing's advertising platform, Microsoft Advertising, formerly known as Bing Ads, offers comparable features to Google Ads, including keyword-based search ads, display ads, and shopping ads. Yet, there are several reasons why Bing could be more effective for real estate agents.
With fewer businesses utilizing Bing for advertising, there's less competition for ad space. Lower competition means lower cost per click (CPC), making it an affordable alternative or addition to Google Ads for real estate agents operating on a tight budget.
Since Bing has a smaller audience, it often represents an untapped market for businesses. Many real estate agents may be missing potential clients by focusing solely on Google. Advertising on Bing allows agents to reach an audience their competition might be neglecting.
Higher Engagement Rates
Bing users tend to have higher incomes and spend more online, according to Microsoft's data. They also tend to be more engaged and are more likely to fill out a form or call a phone number after clicking on an ad. For real estate agents looking to get more leads and conversions, Bing can be an attractive option.
Utilizing Bing for Real Estate Advertising
In using Bing for real estate advertising, it's essential to have a strategy that leverages Bing's unique features and audience demographics. Here are some strategies real estate agents can utilize:
Just like Google Ads, Bing ads also rely on keywords. Choose keywords that best reflect your real estate business. Consider location-specific keywords since real estate is often a location-specific service. Additionally, Bing's Keyword Planner can help identify relevant keywords that your audience may use when searching for real estate services.
With Bing Ads, you can target your ads to specific demographics, including age, gender, location, device, and time of day. Bing's demographic tends to skew older, with most users over 35. Use this to your advantage by targeting your ads to demographics most likely to be interested in your services.
Bing allows advertisers to adjust bids by device type. This means you can decide how much you want to bid for users searching on desktops, mobile devices, or tablets. Given the nature of real estate services, potential clients may be more likely to use desktop computers for extensive property research. Thus, you might want to allocate more of your budget towards desktop users.
The marketing landscape is continually evolving, and what works today may not work tomorrow. As real estate agents navigate this landscape, Bing provides a viable and cost-effective platform for advertising. It offers a lower-competition environment, a unique and engaged audience, and powerful targeting capabilities.
While Bing may not replace Google entirely due to its smaller user base, it can certainly complement a broader digital advertising strategy. By expanding their reach to include Bing users, real estate agents can tap into an audience that their competitors might be overlooking. Therefore, Bing could indeed be an effective advertising platform for real estate agents.