Digital marketing is gaining hold with developers who have realized that homebuyers are finding it convenient to explore various options virtually.
MUMBAI/NEW DELHI: Selling apartments online in large numbers may continue to be a distant dream for realty developers, but some have started using social media to reach out to potential customers.
Digital marketing is gaining hold with developers who have realized that homebuyers are finding it convenient to explore various options virtually before physically checking out the short-listed properties. Builders are increasingly forming alliances with Facebook and Google to help connect with homebuyers through personalized messages to right audience and they seem to be getting better visibility and results.
“Currently, digital marketing contributes to around 25% of the leads generated through all sources and helps generate around 8% to 10% of revenue. In the next 3 years, digital marketing’s contribution would be close to 25% to 30% of the revenue.
“We feed potential buyers with plenty of information about its projects online, making up for the lack of physical proximity or time for a customer to visit a site,” said Samujjwal Ghosh, Executive VP -Marketing at Lodha Group. “Online experience through virtual tours and videos is supported by a strong pre-sales force that assist buyers in their buying decision.” Digital media like Google, property portals, epapers are being used by developers for project promotion and lead generation.
Social media including Facebook, Instagram, Twitter, LinkedIn, Youtube are also being used extensively across product categories to improve the reach and to increase the consumer touch points. “Facebook provides marketing services to help grow real estate business and deliver the right message at the right time, to the right people — this is personalization at scale. “Whether real estate marketers want people to buy their products online or are trying to build awareness, we have solutions that drives results. The difference is that Facebook provides new, more efficient ways to achieve traditional, long-held business objectives,” said a Facebook spokesperson.
Apart from being present online and targeting right audience, real estate companies are also developing mobile apps to facilitate the transactions.
Tata Housing Development Company, one of the early adopters of digital marketing since 2009, was also amongst the first developers to create a mobile app for its projects The Promont in Bangalore and Arabella in Gurgaon.
“The results have been phenomenally encouraging, we have been able to fetch over 25% of our sales via digital at hardly 10% of the cost as compared to traditional mediums. Apart from traditional advertising, we are increasingly provisioning for digital and experiential marketing techniques to create an experience for the prospective consumers. All our communication is now combined and strongly supported by innovative social media campaigns,” said Brotin Banerjee, MD, at Tata Housing.