Gallery

The secret weapon to digitally market property toward the Chinese

Imagine using social media, to buy a house for millions of dollars that you haven’t even seen in person yet.

giphy (3).gif                                                            ‘Huh’. Source: Giphy 2017

My reaction exactly!

A few days ago, I read an article about how Australian homes are being sold to Chinese consumers via WeChat.

WeChat is a messaging app used by over 800 million people in China, also allowing customers to make purchases and be paid within the app itself (source). As YouTube, Google and Facebook are all banned in China, marketing through WeChat allows Real Estate Agents like Monika Tu, to sell million dollar properties to affluent Chinese Clientele.

477b4bedb0e40fa294e28ae6faa4993bMonika Tu outside a $20 million property she sold in Sydney. Source: Daily Telegraph, 2015

“Social Media is the ultimate tool if you want to tap into the Chinese market… I can close a deal in three days on WeChat”
Monika Tu – Founder of Black Diamondz. (source)

Tu’s Black Diamonds property sales account on WeChat has over 35,000 followers. She also claims that when a WeChat post occurs, it introduces an additional 5,000 viewers (source). Video is used to conduct tours around the home, once interest is conversed. If the customer then wants to purchase, negotiations occur instantaneously and once agreed upon, an e-contract is then sent to them to sign and send back.

According to the National Realtors Association, not only are the Chinese willing to pay more for property than other nationality, but last year they were the number 1 foreign global buyers of property.

chinese foreign buyersVolume of Sales to foreign buyers. Source: National Realtors Association, 2016

WeChat is “crucial to marketers” to “get close enough to their customers” claims Singaporean based analyst Bryan Wang. Without WeChat, digital marketing fails to target this lucrative demographic through social media.

Were you as shocked as myself when you read about this? Contribute to the sound of this digital marketing issue and comment below.

Advertisements

6 thoughts on “The secret weapon to digitally market property toward the Chinese

  1. Woah, I’ve known WeChat is a major social media for Chinese. But selling a property through it?! My mind was blown!
    Marketers definitely have to get their hands on WeChat if they are targeting Chinese buyers, and also possibly Weibo (a Chinese version of Facebook+Twitter) as they spend most of their time there!

    Like

  2. Thats crazy! but also interesting how WeChat is so successful towards gaining trust with their consumers.
    China is definitely ahead of times when it comes to all things digital and its amazing to see how consumers are willing to pay top dollar through online transactions!
    However, I do believe this would not translate very well to Australian markets due to the difference in consumer trends across cultures … but still, this is amazing!!

    Liked by 1 person

    1. They are aren’t they! I didn’t think people could be so trusting with social media!
      I agree. I don’t think it would translate well into Australian culture either.

      Like

  3. Thats crazy! I couldn’t imagine buying a house i just saw online! It shows how much trust can be built online, something i think we lack here in Australia where social media is maybe used predominately for more different matters than building trust.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s