Real-estate’s Journey of Experiment
SangeetHemant Kumar Founder of SHK Ventures, a developer specific boutique advisory, consulting & transactional services provider believes that real estate is going through a paradigm shift and is on a path of exploration.
Traditional concepts are being flushed out and digital concepts are being adopted by the realty industry. Real estate is no longer just about building homes, it has become a platform to build relations with the clients. The budgets for digital marketing have also increased extensively.
Earlier everybody’s concept about real estate was just brokers taking you on property tour and talking continuously about the building. But now times have changed, you can easily check the entire property with one click on their website or virtual tours provided by the developers.Developers too are either engaging with the audience through social media or through digital platforms like Visual tours of Flats, etc. This new engagement is changing people’s perspective about real estate.
The industry professionals who,successfully evaluate the opportunitiesand accordingly adapt and address the needs and incorporates them into a differentbusiness model will redefine the business of real estate.
Technology and digital will be impacting the way we market, promote and sell real estate. They will modify the traditional and conventional methodology being followed by developers and brokers. Understanding and evaluating this change and the transformation is itself challenging where in lies the opportunity.
• Digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps.
• Digital marketing methods are search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing and display advertising
• E–books, and optical disks and games are becoming common and digital marketing now extends to non-Internet channels such as mobile phones (SMS and MMS), call back, and on-hold mobile ring tones.
It is critical to understand and monitor performances
The Developers need to study and analyse every aspect of the customer. Research and Development is what every developer needs to adopt for increase in sales. The word ‘Developer’ itself replicates developing a concept for the customer.
• By tracking your website’s performance, you can get a clear picture of what is working and what needs to be improved on your website. This also tells you about how well your competitor is doing in terms of their marketing.
• Good audio-visual of the property plays a very important part as the attention span of people is only 0.7 seconds.
• Influential marketing is being used as it works as a testimonial advertising where the influencers play the role of potential buyers themselves.
New business models, newer strategies, new ideation all are being explored by developer’s right from acquiring properties for developing to marketing. Now you can target customers in real time and evaluate the results on the basis of how many people actually see the advertisement and are interested in the property.
In this industry, it is mandatory to reach to the proper Target Audience. You cannot go around selling the customer something they do not need; hence every developer needs to understand the target audience and segregate or develop properties accordingly.
Every consumer dreams of having the perfect home which provides all the necessary aspects of life and in the end gives you a homely feeling. Developers nowadays are investing majorly in providing such facilities in the property itself where nowadays you do not need to leave your property to watch a movie because they provide an In-house multiplex. This is just another example of the new and advanced amenities provided in some projects.