Total market size of India’s real estate sector was estimated to be $55.6 billion in the year 2010-2011, and the industry is expected to grow to $180 billion by 2020 on account of growing needs for infrastructure from a number of sectors such as tourism, education, healthcare, residential etc.
This prediction about tremendous growth has generated great deal of interest amongst both domestic and international investors lately. As a result of the same, many global investors along with several Private Equity funds have signed up a number of deals with various successful Indian investors and developers for investing their money into India’s real estate sector so as to reap respectable returns in the days to come.
In order to reach out to high net-worth individuals (HNIs) and potential foreign investors, a number of Indian realtors/developers are still resorting to traditional advertising options, such as newspaper ads, television commercials, billboards, radio ads etc. The problem with such traditional advertising options is that these are expensive, and do not count much towards generating revenue. Hence, Indian realtors/developers need an alternative to such traditional means of advertisement to be able to realize their business objectives.
But, the question is what could serve as a decent alternative to costly and non-productive traditional advertisement methods? As we live in a world where everyone is connected through various digital means, digital marketing tools (such as social media marketing, search engine optimization, search engine marketing etc.) could be the solution for Indian realtors/developers to reach and engage with their target audience.
Since foreign investors and HNIs have this tendency of purchasing a number of properties at once or rotating their property-investments frequently, it is very important for realty brands/developers to reach such investors and engage with them from time-to-time so as to reap rewards in the long-run, and social media channels have, indeed, proven to be effective means of doing so.
In spite of being very effective at building engaged community of target audience, social media marketing is not the only option available to realtors/developers/builders in this online arena. Ideally, an integrated digital marketing strategy (comprising of various aforementioned digital marketing tools) is what is needed for real-estate brands to turn their target audience into clients eventually.
Let us look at a short-term project that was undertaken for a real-estate brand lately.
When consulted regarding the project, the real-estate client’s challenges were to:
Reduce bounce rate on its corporate website;
Increase brand awareness via social media platforms; and
Generate database of potential investors for future follow-ups.
The client’s website was completely revamped with a view to giving it aesthetic looks so as to position client’s brand for luxury market segment. While the old website was made using simple HTML and CSS coding, the new one was a CMS-based website with responsive layout.
This meant that the organisation could manage its content in much easier manner than before using CMS (Content Management System), and that the website could be easily navigated across a number of devices because of its responsive theme, thereby allowing the site’s bounce rate to go down.
A comprehensive content strategy was drawn for the organisation with a view to reducing bounce rate and increasing brand awareness. Some of the highlights of 5 month project are as follows:
Every page of the website was re-written with focus on organisation’s values and excellence so that the organisation could be projected as a reputed brand to the potential real-estate buyers/investors.
Blog was created to showcase content in relation to latest industry news, ongoing projects, joint ventures, special achievements and awards in order to engage with target group and position the brand as a leader in the real-estate sector.
Landing Pages Created For Data Collection
Landing pages with sign-up forms were created for various property schemes, allowing interested buyers/investors to register and download beautifully designed e-brochures for more information. This helped generate database of prospects for the real-estate client to follow-up on later.
After engaging pieces of content were created, those were shared via platforms such as Facebook and LinkedIn. Sharing of meaningful and relevant content via company’s page and relevant groups helped extend reach of the organisation to the potential investors/buyers that, in turn, resulted in great deal of brand awareness and creation of engaged communities on both Facebook and LinkedIn.
The landing pages for various ongoing projects were also promoted via digital ads (Facebook Ad and Google AdWords) to add on to the number of registrations of prospective buyers/investors.
Bounce rate of the website was reduced from over 70% to about 45%, meaning more and more visitors were engaging with the content available on the site now.
Facebook community with over 20,000 fans was built for the client over a period of 5 months, thereby spreading awareness about the brand in the market.
More than 2000 sign-up forms were filled out by prospective buyers/investors.
Hence, if you are from real-estate sector and wish your brand to be considered for business by prospective investors, you should resort to a well-devised digital marketing plan instead of sticking to old advertising methods that are losing their significance in this digital era by and by.