Buzzing at 4: 4 key trends, in 4 successful years
We’re excited to say it’s our 4th birthday! Hatched in 2020 – a rather eventful and tumultuous year! – we set up The Buzz to bring together a collective of like-minded, property focused and talented marketing experts who would respond to the change we could see accelerating all around us.
Over the last four years, much of the amazing transformation that we’ve seen has been good for both businesses and their employees. There are so many that we can’t cover them all but, in honour of our birthday, we’re showcasing 4 rapidly evolving, – and mostly positive! – major trends that we know are here to stay.
- The ascent of the algorithm
That might not sound such a positive thing, but we can’t get away from the fact that we live in a world of work that has never seen such fast change. While the focus on technology as a productivity driver isn’t new, the pandemic drove significantly greater interest from companies seeking to keep moving forward by embracing digital transformation in an unparalleled way, from cloud computing to the rise of generative AI such as ChatGPT. Of course, fuelling much of the change, has been the rise and rise in the importance of data and the increased need for analytics to drive business success.
So our view is, if you can’t beat it, you should embrace it and many real estate companies are doing just that. It’s notable that marketing and sales are now second only to IT in the adoption of AI by business function (Source: LSE-CBI). What’s also apparent is that successful companies aren’t just becoming more digital in what they do but are realising that to gain, and importantly keep, a competitive edge, their digital evolution must be ongoing – with a key assumption that to keep “tech forward” they can never rest on their laurels. (Source: McKinsey).
For those constantly exploring the next new thing by bringing in new programmes, systems or flexible resources to energise with knowledge and ideas, the potential rewards are likely to be greater productivity and innovation as well as an improved experience for those they sell their services or products to. It’s also a way employees can enhance their own careers by learning more, finding tools to support their decision making and helping them solve problems and optimise solutions that would have taken months if not years in the past.
- The rise of brand social media
With the domination of digital connectivity, it’s not surprising that a 2023 Harvard Business Review survey found that nearly 50% of businesses in the US, and an astonishing 100% of real estate companies, are now using social channels to both increase their visibility and to sell their products and services.
No matter how large or small a company is, whether a major property corporate or a small start-up, keeping up with an evolving social media is vital as it gives you the ability to reach potential tenants or buyers you couldn’t have reached in the past and to engage with your clients in real time. Understanding which channels you should – and shouldn’t be using – to target your different audiences, and the choices surrounding these, is critical to increase the effectiveness and efficiency of your integrated campaigns whether your operation is B2C or B2B.
However, it’s tough to stay on top of the social media marketplace and make the right choices for your brand. Getting the right strategic advice is essential to map out the best organic and paid strategies. As big property brands such as JLL (2m LinkedIn followers), Knight Frank (c200k Instagram followers) and small niche brands like NorNorm (2,131Instagram followers) know, getting sound strategic advice is vital in mapping out the best organic and paid strategies and building compelling and consistent content, from captivating stories and insights to informative films, tours and interactive posts. Capturing and understanding your metrics, to assess what does and doesn’t work for you and is most cost effective, will keep your business agile, responsive and better engaged with your clients and prospects.
- Sustainable and authentic approaches
Notoriously seen as the largest emitter of greenhouse gases, the buildings and construction sector accounts for 37% of global emissions (Source: UN Environment programme 2023). With the rising climate emergency and increasingly savvy end users of property, whether they are occupiers, investors or employees, the imperative for change has never been stronger. Thankfully, most property sector companies have been upping their game with many making smart sustainability strategies a cornerstone of what they do. For example, The Buzz’ client Lendlease actively promotes their ambitious and rigorous sustainability programme that sets out measurable objectives that are targeting Absolute Zero Carbon by 2040 without the use of offsets.
Demonstrating how a company is progressing its sustainability journey will be highly valued by your target audiences, however, there is undoubtedly a danger of overpromising. Authenticity is everything as overstating your green credentials can lead to accusations of green washing and lost trust. Getting advice on messaging and tone of voice that feels genuine and not just paying lip service is therefore advisable to help you ensure your target audiences are buying into a sustainable reality. At the Buzz we work with Chilled Agency who embed sustainability in all their projects, from ideation to delivery, to ensure that when they are talking about it, it’s not just marketing fluff. It’s proven and credible points of view on the topic.
There is one headache that companies need to face here. While forward thinking businesses are embracing every aspect of tech, including tools that will help them reach their sustainable goals, these are often concerning in their extraordinary use of power. Generative AI systems can use around 33 times more energy than machines using task-specific software and “a single ChatGPT conversation uses about 50 centilitres of water, equivalent to one plastic bottle” (Source: Forbes). While the power is generated at data centres and within offices it is something companies need to consider as they explore and implement their sustainability and AI initiatives. Could your new data initiatives actually be counteracting your sustainability progress?
- A more flexible working world
Covid unleashed a desire for many of us – some might say most! – to be able to work more flexibly, if it fits the work they do. How wonderful not to be in the office 5 days a week, perhaps to work further away than a previously considered commute or work adjusted hours and enjoy a different way of life. Whilst working at home exclusively is still an option for some, it has been reined back by many companies and some corporates are getting tougher about where their employees are day to day. The good news though is that the hybrid way of working is, for many, here to stay and we will raise a glass to that. Happy employees engage better and work harder and as a result, produce a much higher quality standard of work.
We founded The Buzz for trusted real estate marketing specialists looking for more flexibility in their lives and for businesses looking for flexible marketing resource. Our world is evolving ever faster and being able to react swiftly will be essential for years to come as the markets change. What’s centre stage now will, in time, be superseded by the next big thing. By being able to tap into marketing resources from strategic high-level consultancy advice to the overseeing of a vital project, our flexible approach means we match your needs with the right resource whenever, wherever you need it.
So from all of us at The Buzz, thank you to all of the clients we have worked with us over the last four years. It’s been an exciting journey, and we can’t wait to see what the next four years may bring!
