DIGITAL MARKETING AND PERFORMANCE OF REAL ESTATE FIRMS IN IBADAN, NIGERIA

ADEBIYI, Victor Oreoluwa (2022) DIGITAL MARKETING AND PERFORMANCE OF REAL ESTATE FIRMS IN IBADAN, NIGERIA. Masters thesis, Landmark University, Omu Aran, Kwara State.

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Abstract

Digital marketing has become a vital medium for marketing in the real estate industry as the world has radically modernised into a global village in the last decade. Despite this advancement, several real estate firms have difficulty determining the best digital marketing medium to engage their target audience and achieve optimal results successfully. As a result, it has become critical to evaluate the influence of digital marketing on real estate performance. The research employed descriptive statistics, regression analysis, and correlation analysis to investigate the influence of digital marketing dimensions (web solutions, social media marketing, and email marketing) on the real estate performance dimensions (market share and profitability). A sample size of 92 real estate firms registered with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) was purposively and randomly selected. The correlation analysis revealed that web solutions contribute more to market share (r = 0.250) variability than profitability (r = 0.175) variability, social media marketing was more related to profitability (r = 0.277) than market share (r = 0.087) and email marketing had a stronger relationship with profitability (r = 0.826) than market share (r = 0.771). Also, regression analysis revealed that email marketing, a dimension of digital marketing, has the most significant impact on market share, while social media marketing has the most negligible effect on market share. Furthermore, the findings revealed that email marketing has the most significant impact on profitability, while web solutions have the most negligible impact on profitability. Thus, it is recommended that real estate firms employ more email marketing in their marketing strategy to increase their profitability and market share since it has been established to have the most influence on real estate performance. This can help real estate firms raise awareness of their products and services, boosting sales and reinforcing customer trust in the brand. Keywords: Digital Marketing Dimensions, Real Estate Performance, Ibadan Real Estate, Real Estate Marketing, NIESV Registered firms

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