MARKETING FOR SUCCESS
REAL ESTATE FUTURE ROADMAP
The impact of this digital transformation has been profound on real estate in the last two years accelerated by the pandemic. Marketing experts deliberate on the emerging trends in marketing strategies of realty firms.
T here is an immense change in consumer behaviour and marketing leaders are adapting to the new trends. As Sunil Mishra, Chief– Strategy, ANAROCK Group and CEO – TRESPECT stated, “Social media has changed marketing in many ways. Marketers now carefully consider Google bidding to ensure correct target audience. From brand heavy marketing strategies are leaning towards being acquisition heavy. Use of CRM platform has increased to efficiently evaluate market trends and user behaviour. Marketers continuously analyse market with the help of tools to understand the value chain.”
Sukanya Dasgupta, Director, Marketing & Communication, Colliers believes that technology has changed the way we interact today. “As marketers we continue to lead and innovate to relook at the overall expenses and online presence. The agility of new age media enables almost real time promotion. Cost effective content sharing on blogs, podcast, vlogs is where we explore new clients.”
Rajeeb Dash, Head – Sales & Marketing, S D Corp, Shapoorji Group talked about the significant change in the marketing plans. “Almost 70 percent of our lead generation happens through digital medium which is cost efficient as well. Due to huge amount of buzz, online viewers tend to get attracted which are then tapped to convert in sales by the team. Therefore, it’s important for developers to keep their online content updated.”
Marketers recognize that providing relevant content can help grow brand awareness, generate leads and increase customer retention. Jay R. Chandani, Director – Marketing, Pacifica Companies mentioned, “As marketers we always try to reach out to our home buyers with different marketing strategies. Online is the platforms where you will see all the people are connected and the biggest audience can be targeted there.”
Sanjay Kumar Jariwal, Media Marketing, Prestige Estates Projects Limited agreed, “The pandemic has enhanced online content consumption. Real estate website, project portals, online advertisement, social media ads attract huge audience. Mediums like print, magazine, OOH have seen strategic use and will continue to be used for specific purposes during the lifecycle of a project.”
Smarajit Mishra, Head – Strategy and Marketing – Residential, Brigade Enterprises Limited mentioned, “Year 2020 has transformed the way marketing works, it has evolved. Our focus has been specifically on Google and Facebook, where we also curated specific marketing strategies to attract NRI’s.”
MARKETERS ARE SHIFTING THEIR FOCUS TO LESS EXPENSIVE REAL ESTATE MARKETING IDEAS STEPPING AWAY FROM DIRECT MARKETING AND TOWARDS CONTENT ON DIGITAL MEDIUMS FOR POTENTIAL CLIENTS NOWADAYS, BRAND TRANSPARENCY ISN’T AN OPTION— IT’S A REQUIREMENT. CONSUMERS HAVE BECOME MORE INFORMED AND AWARE OF WHAT THEY ARE BUYING.
Sumeet Chunkhare, Chief Marketing Officer, Sobha Limited opinion was that customers purely look for good experience. “It is marketers’ job to create an experience, digital or offline that will drive lead generation.”
In addition to being specific, marketing objectives also need to be measurable. The key performance indicators (KPI) and benchmarks allow marketers to measure success. Indeed, real estate brands have now identified the scope of technology in real estate, have gained. Sanjay Kumar Jariwal, concurred, “Virtual site visits generate interest and come in most handy for NRI customers. We have witnessed huge amount of NRI’s buying realty assets during this pandemic time.”
Sumeet Chunkhare, said, “While digital mediums increases customer engagement and reach, physical site visit or meeting occupies important role in taking a home buying decision. Thus, the marketing strategies need to consider both aspects to provide efficient results.”
Jay R. Chandani added, “Nowadays when a customer comes to the site, they have already made up their mind to buy the asset as they have researched online about the projects of their choice. This turns into faster deal closing and sales.”
Samarjit Mishra shared, “We received good response from customers on our virtual site visit and interactive walkthroughs. We made the whole home buying experience seamless and easily available online.”