Tech Enabled Sales To Combat Covid

BY Realty Plus

IN LIGHT OF THE CURRENT SITUATION, DIGITAL TECHNOLOGIES AND CAMPAIGNS, WHICH THE REAL ESTATE INDUSTRY WAS USING SPARINGLY, HAVE COME INTO THE LIMELIGHT.

By: Leandra Monteiro   The digital footprint of real estate is still in a nascent phase. Despite property websites and portals being around for years, homebuyers had always preferred to physically visiting properties, developer’s offices, word-of-mouth, and vetting paperwork and then make a decision. Online realty was majorly a realm for initial property research. However, the social distancing norms have turned the situation around. Realty majors now feel the digital boom of the past three months and the increased comfort levels of Indian consumers with buying and interacting online has finally tipped the scales. But, the usage of digital marketing is still directly proportionate to the scale of the project. For a 30-40 lakhs project, developer spends very less on digital marketing, mainly targeting their potential customers via SMS and database marketing. For a higher ticket size project, digital mediums for promotions become important.   THE NEW CONNECTIONS  Earlier real estate websites mainly had only photos of properties with a little information. The past three months have had developers, real estate agents and property consultants organise webinars where prospective homebuyers were scouted. They were given Virtual Reality (VR) tours of the properties or offering 3D walkthrough services to even drone visit of sites. Sobha Ltd achieved its highest ever total sales volume of 4.07 million square feet valued at Rs 28.81 billion during FY-20. Commenting on the result, J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited, “The the adoption of innovative technological tools and self-reliant model along with strong brand and presence in major cities helped achieve positive financial results.” In fact property exhibitions are now being held on virtual platforms for the benefit of the potential customers and developers are organising customer meet of hundreds of people virtually, through digital technologies. Moreover, in midst of the lockdown, few developers have also initiated digital launch of the properties such as the recent Akshaya Pvt Ltd digital launch of Tamil Nadu’s first and only IKEA furnished Akshaya homes. JLL India estimates Indian real estate firms are spending around Rs. 2,500 crore per annum on promotional activities and campaigns, out of which over 30% is being spent in digital alone. and in the next few years, industries are estimating this to increase by 50%.   CHANGE IS HERE TO STAY  In an era that has gone digital, the increasing aspirations of buyers has created a great scope for marketers. Every brand for its customer base wants to create a lasting and unique experience which can be now completely absorbed in the digital. Presently, the digital medium is emerging as the key marketing medium, touted to surpass traditional offline. Some large developers like Godrej Properties, Total Environment Building Systems and Prestige Group have launched digital site tours, email document confirmations and verifications and even features that lead to online closure of deals. Many brokers too are closing deals via video conferencing and WhatsApp tours. “Having the sales process driven digitally with the entire sales pitch being tracked is the need of the hour now. Since the number of people out there to buy a property has drastically dropped during the pandemic, the few that are out there to buy have to be given the best experience possible,” said Pratik Nagotra, Co-founder – Baetho.  Given the very positive experience the real estate industry has witnessed through digital platforms in the current times, the trend will only accelerate with investments into newer technologies and innovative ways to communicate with the buyers.  

Digital Consumer Connect Tips 

Thoroughly review content - Review all current messaging and channels to properly inform what you’re offering. Content should not be deemed insensitive or irrelevant for the audience or the environment. Be clear about what you are and aren’t offering during the crisis- Make sure clients know whether you’re open for business and how you’re navigating concerns. Put important messages, offers, sales and other valuable information on the front page of your website and start pinning dedicated social posts. Highlight your efforts to help- If your company or staff can and is doing something to address the current situation, then make sure this is at the forefront of your messaging. But only if you’re actually doing something nice. Think about the customer- Even with taking an empathetic approach during these trying times. Take into account what audiences are going through- both financially and emotionally. There are still plenty of ways to ensure that your marketing resonates.

Tags : Latest News Real Estate JLL COVID Tech Enabled Sales self-reliant model