How to Best Use Marketing Strategy in a Constantly Evolving Real Estate Market
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Over the past decade, real estate industry in India has seen a dramatic change in terms of approach and marketing strategy. With the new policies like RERA, that is closely governing the real estate by boosting transparency among the home buyers, it is a challenge that the industry is treating as an opportunity to venture into uncharted territories for Marketing and tapping potential customers
Is Old Still Gold?
Days of bill boards, newspaper ads and other traditional mediums are on their way out. Real Estate developers are now changing the rules of Marketing and creating strategies to cater to evolving consumer of the country. All of these factors are setting new levels expectations that need customised & targeted approach. It’s time for over-arching strategies association with like-minded brands, participation at real estate forums and media platforms to spread awareness and moreover educating the customer base.
Hit Them and Hit Them Hard
With the competition increasing in the said space, marketing approach need to become a lot more aggressive, because the consumer these days are well aware, well-read, want value for money and aspire a certain lifestyle. While there are seemingly countless tactics and tools to choose from, a few of them have helped the sector to be more aggressive in the market. Several players are now following the ‘Carpet Bombing’ technique to reach their target groups. Through this approach, and a clear communication message which is driven with facts has proven highly effective to appeal to the home buyers.
In the earlier times, most real estate players would have a media split of 80 % offline media i.e print, hoardings, SMS, BTL, events, exhibitions and 20 % online media . However, in the current scenario, digital has become the key to market. Making people aware about the brand, starting off with a website and social media pages to keeping the audience engage and updated about the new and existing offers by the developer are more than essential these days. Every real estate player should constantly change their media and marketing mix to generate leads and further convert them into sales.
Use Of Technology
The technology has also come to the foray and is playing a vital role in the marketing process. Real Estate players are taking advantage of technologies like Virtual Reality and Virtual Tours to take customer experience to the next level. These practices have started to blur physical boundaries and have enabled developers to reach buyers in other cities. This approach is working exceedingly well for NRIs who are looking to invest in India. Virtual tours make it possible for anyone to examine properties and project while sitting in the comfort of their homes. This marketing approach makes the customer feel like the ‘King’ as their requirement is served to them on a platter.
In conclusion, real estate sector is now using multiple marketing permutations and combinations to enhance its methods of not just reaching out to customers but also and transforming them into satisfied buyers.