Author: Mr. Amit Modi, Director, ABA Corp and President (elect), CREDAI Western UP
The real estate sector is continuously transforming. With the inclusion of an omni channel plan of marketing, sales, and promotion, it gets more expansive and critical. The magnitude of opportunities that will occur with these advanced integrations are not just going to change the outlook of the sector from traditional to modern but will push the sector towards experimentation.
Change is the need of the hour, and ever since the virus has entered our lives, there has been nothing more constant but the inevitable change. Lock down taught us to be seekers in confinement, on the other hand unlock is guiding us to be patient yet competitive. With businesses gradually trying to bounce back towards their normal course of action, there still remains a chunk of professionals operating remotely.
In such situations, synchronization among all team members is of extreme importance. Marketing plans prepared by developers have never been a single professional’s job, and now with the communication and planning team drifted apart, the task to conduct brainstorming board meeting becomes more challenging. It involves not just keen observation of the industry trends and insights, but various other crucial details to reach the target group.
Here is a list of few tips that will help the developers and their team prepare a competitive marketing plan for high-end product like real estate:
1. Study the platform
People are spending more than 70% of their day’s time looking at their phone and laptops’ screens. The tendency to surf web for every little thing has become an ultimate solution for the day- to- day life. Generating online leads and sales is a priority for every product and service.
Amid all of this market competition, it is extremely imperative to understand the USP of your product. This will channelize you towards choosing few but relevant platforms to market them as per the PPC rates and the nature of user traffic it achieves. Being a high-end product, real estate has a typical customer base. Realtors’ task is to direct their paid campaigns towards those niche users and content over social media to a mass user base for increasing the reach of your page.
2. Varied digital tools available, take a rational call
Before COVID hit the world, real estate companies designated their ad spends significantly on ATL options, but now the circumstances have changed. With limits on outdoor movement and an option to measure the performance of your advertising strategies; digital tools have replaced ATL and become the front runners. Some of the options available are Digital Campaigns, Back linking via Instagram/ Facebook Videos and Polls, SEO strategies, Ask Me Anything Sessions, Listings and Banner ads on high-end product sites, Live Video Meetings, Webinars.
Each option comes with a certain approach of marketing. Make sure to leverage it accordingly. For example, AMA session on the other hand can amaze you with the amount and kind of questions the buyer has; prepare yourself accordingly and try addressing all queries received within the 24 hours. AMA sessions usually give you insights which can later be used for planning a campaign or another series of polls. Polls should be something basic based on just a simple selection from a few options, and not writing detailed summaries.
3. Delivered projects should be vital in the monthly promotional plan
To begin with a well-planned email campaign can prove very effective for the promotion of activities happening in the delivered projects. Apart from this, an interactive video showing the facilities present in your delivered projects, residents sharing their journey of home-buying, project delivery and moving in. A buyer’s story highlights/album of transforming his home ever since they moved in is likely to touch the humane side of fence-sitters and people living in rentals to revisit their postponed property purchase decision.
4. Legacy and collaborations must be highlighted
When your page begins getting positive engagement from the followers, it is time you work on maintaining the content and overall outlook. The database that you have gathered related to the unique digital activity which every user displays while scrolling through your projects/ social media page/website can help you improve your daily posts.
Tie-up with banks and HFCS for home loans, retail chain groups for stores inside the premises, décor stores for interiors, construction updates on tower completion, relief activities for workers can be few things that could be posted on the official pages. If your projects are spread in multiple locations, it is important to highlight the legacy you have in building homes and satisfying the residents with your delivered work.
Marketing plans with a better level of penetration in the buyers’ mind can be devised and propagated to garner numbers in sales. This can be done via interplay of strategic planning, flexibility, and knowledge about the utility of digital tools.