THE number of Filipino internet users is likely to reach 46 million by the end of 2017, driven by the sharp increase in the usage of smartphones, especially cheap Android devices, prompting more and more companies to allot expanded budgets for digital marketing.
“As the internet takes over the planet, it is unsurprising that the Philippines’ internet landscape is changing rapidly. The country’s internet penetration level is gradually growing and currently stands at over 43.5 percent,” the Lamudi Real Estate Market Report 2017 read.
“Between 2000 and 2015, the country’s internet penetration level went from 2 percent to 42 percent. This is a dramatic increase, and the number of internet users is likely to have doubled from the figure of 23,259,726 [users recorded in 2010]to over 46 million [users]by the end of 2017,” the online property site added.
This is equivalent to a 97.8 percent growth in internet penetration in a span of seven years, making the country the third-largest internet user in Southeast Asia following China and Malaysia.
Lamudi said increased usage of applications has made a huge wave in marketing products and services, including across the fashion industry and even real estate services.
In 2016, Lamudi said 59 percent of agents were advertising their property listings online, followed by social media marketing at 18 percent, newspapers and magazines at 12 percent, company MLS (multiple listings service) at 10 percent, and referrals at 1 percent.
As internet usage has expanded, Lamudi said many agents have moved from paper classifieds to online, particularly in the Philippines.
In fact, across industries, Lamudi said companies are allotting an expanded budget for digital marketing with the pressure on advertising quality, which makes competitors get more skilled at search engine optimization (SEO), social media marketing, and other methods.
“When targeting house hunters in the Philippines, it’s important to understand online behavior and online preferences within the population. Successful digital marketing strategies can make a business, while social media outreach that has not been well thought through can turn out to be detrimental,” Lamudi said.
“From a consumer perspective, house hunters now have all the information they need about a property at their fingertips. From seeing detailed images of prospective homes to contacting landlords or sellers quickly and easily, many Filipinos now prefer to look for property from the comfort of their own homes or on their mobile devices while on the move,” it added.
Established in 2013, Lamudi is an online real estate marketplace with operations across 13 countries: Mexico, Columbia, Peru, Philippines, Bangladesh, Indonesia, and Myanmar, among others.