Abstract
Digital tools and marketing have been widely adopted in various industries throughout the world. These tools have enabled companies to obtain real-time customer insights and create and communicate value to customers more effectively. This study aims at understanding the principles and practices of sustainable digital marketing in the Malaysian property development industry by investigating the extent to which digital marketing has been adopted, the impediments to its adoption, and the strategies to improve digital capabilities for the local context. Digital marketing theories, practices, and models from other industries are adopted and applied to the local property development industry to lay the foundation for making it smart and sustainable. This paper proposes a marketing technology acceptance model (MTAM) for digital marketing strategy and capability development. The key factors used in the model are ease of use, perceived usefulness, perceived cost, higher return, efficiency, digital service quality, digital information quality, digital system quality, attitude towards use, and actual use. The model and hypothetical relationships of critical factors are tested using structural modeling, reliability, and validity techniques using a sample of 279 Malaysian property development sector representatives. A quantitative approach is adopted, using an online questionnaire tool to investigate the behavior of respondents on the current digital marketing practices and capabilities of Malaysian property development companies. The results show that the sample property development companies are driven by the benefit of easily obtaining real-time customer information for creating and communicating value to customers more effectively through the company brand. Further strategies, such as creating real-time interactions, creating key performance indicators to measure digital marketing, personalization, and encouraging innovation in digital marketing are most preferred by local professionals. An adoption framework is provided based on the reviewed models and results of the current study to help transform the Malaysian property development sector into a smart and sustainable property development sector by facilitating the adoption of digital technologies. The results, based on real-time data and pertinent strategies for improvement of the local property sector, are expected to pave the way for inducing sustainable digital marketing trends, enhancing capabilities, and uplifting the state of the property development sector in developing countries.
Highlights
Digital marketing has enabled companies from various industries to obtain real-time customer insights and create and communicate value to customers more effectively
The development and subsequent adoption of smart online platforms, marketing automation such as customer relationship management (CRM), behavioral e-mail marketing, web personalization, social media marketing, search engine optimization and the other latest smart digital marketing techniques can help elevate the state of existing digital marketing strategies used globally and make the property business more sustainable [17,40,49]
Based on the comprehensive research method, analyses were carried out, and the results are presented. These include the profile of the respondents, the opinion on the factors of smart digital marketing, different types of real estate agency websites used by smart property development companies, the competencies, skills, and gaps of smart digital marketing, and sustainable strategies to improve digital marketing in the property development industry
Summary
Digital marketing has enabled companies from various industries to obtain real-time customer insights and create and communicate value to customers more effectively. This has led to a significant increase in customer base and associated top-line growth. Digital marketing emphasizes the customer through different media channels [3,4] It lacks and, requires an integrated system and a strategic direction for these stakeholders to work upon and move towards smarter and more sustainable digital marketing. Require smart and sustainable digital marketing strategies and models to guide them to ensure proper execution of such innovative and sustainable digital marketing techniques
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