1.Why do you think there is an increase of digital marketing in real estate sector?
India is the second largest smartphone market in the world and has an internet user base of 462 million users. Cities consume internet for 28 hours per week beating television. With user data like that, it is pertinent to invest in digital platforms for marketing, if brands want to reach out to their audience in time.It becomes imperative to push brand messaging where users spend that amount of time,and reach out to users online hence, leading to an increase in digital marketing in real-estate.
2.After the RERA act has came into force, the marketing strategies of the real estate developers have changed. How the digital or online marketing campaigns are being modified?
The business of Real Estate has become more competitive than ever, with the introduction of RERA. Considering RERA compliance as a major milestone for a realty brand, it is important forthem to draw attention of buyers and portray itself as a preferred and wiser purchase and investment choice. A lot of messaging and marketing strategies are based upon concepts like ‘building trust’, ‘reliable’, ‘secure and safe’, etc. The fact that digital marketing as one of the quickest way to get your message out there, brands are actively using it to attract buyers.
3.Given the background of the slowdown in the real estate sector, on what points the marketing strategies would focus on this Diwali to lure the homebuyers?
Marketing strategies online should focus on “less is more” where non-cluttered, simple yet effective imagery showcasing properties in its true form will help users get the right message. Whether Diwali or otherwise, home-buying is a collective exercise where the whole family weighs in. Needs of every member of the family are considered and vetted before making a purchase decision. As much as the developer’s marketing strategy is to lure the decision-maker (person buying the house) do not forget the influencer in this decision (kids, parents, spouses)
The very advantage that digital has over print is moving imagery. Home-buying as an experience, needs to be visual. Using features like 360 degree panoramic view, letting the user have a complete experience of the home makes it all the more fulfilling. Ensure your reputation online is managed well, respond to feedback, queries and complaints quickly and effectively.
Also, one can do so much more with similar or more budgets on digital marketing like running multiple campaigns, targeting users on specific behaviour and geographies. Multiple campaigns can run for the same cost and effectiveness can be checked real-time while running digital marketing campaigns.
4.How digital marketing in real estate benefit the homebuyers?
Digital users are a lot more informed and smarter because of the ability to research on any given topic. Being digitally-savvy helps them research, analyse, compare and seek recommendations from internet users on the right product or service to avail.
The top benefit a homebuyer has online is the ability to validate and compare if the offer they have at hand whether its a property or product, is the best that can be.
Property comparison and review sites have grown in popularity for the relevant help it offers homebuyers to make informed purchase decisions.
5.What could be the possible mistakes that the developer should avoid while adapting digital/online marketing?
Before adapting online marketing, ensure all your digital properties are in order. Have an updated website, have correct geo-tagging on all your locations, invest heavily in online listening and reputation management for your company.
Not having any/all of these points addressed does not instil faith in a potential homebuyer looking you up through your ads and placements online.
