Real Estate and Digital Media

As the real estate market grew in India from being a business of so-called local builders to developers, the technique to sell the project also changed. Earlier the market was largely depended on mass media to make aware of their newly launched projects and due diligence of the builders and developers used to happen via their track records in the form of delivery of their past projects.

The overall real estate market in India has seen a tectonic shift from early 2000 to late 2010. Now, the market has started using smart tools and digital media in a big way to support their sales, marketing, and product development.

Especially Digital today has become a core need for sales and marketing support. Starting from managing the social media assets to search market to review management, all these have become a core need of the market. As the digital footprint in India is increasing day by day, so does the real estate market is shifting its gears to utilize the medium in various forms. Here is the list of digital activity one should be using to support the overall real estate sales and marketing:

  1. Manage your digital footprints with social media: One of the core processes today is to reach out to your existing and prospective customers. Social media is the best tool to achieve that task. Facebook, LinkedIn and Instagram are the three main tools that a real estate company should be using to engage their customers on a regular basis. Other than these platforms, the market can also use microblogging platforms like Twitter and Medium to create consistent brand advocacy. Although the majority of the real estate companies today has started using social media for information share, the core challenge lies in creating consistent engagement with your core customers and prospective buyers. This can only be achieved by the proper content and engagement planning.  
  2. Manage your Search: The best way to tap a prospective customer is the time when they themselves are looking for a property in your location. So, either by using the right techniques of SEM (Search Engine Marketing) or SEO (Search Engine Optimization), the company should focus to build their reputation on the search platform. The right identification of keywords, landing pages and, adequate information share are a few tips that one should include in their plan set to achieve a good milestone to create a robust footprint on search platforms
  3. Reviews and ratings: Today the first search on digital platform about a company and a brand happens by getting the right set of reviews and ratings of a company. Instead of finding the project information, the prospective customers hunt for brand reviews and ratting. So, at one side, it’s good to manage your engagement on social and search platform. But on the other hand, a real estate company should also focus on managing their reviews and ratings.
  4. Third Party advocacy: As the market is growing and becoming more mature, so does the buyers of today’s generation. Third party advocacy is a must in today’s time to create a basic sales funnel. This can be achieved by having a good Digital PR tie-up with reputed online houses. Normally the advocacy happens at various levels including location, project, market conditions, the opportunity of investments, etc. All these put together, creates a positive environment to sell a project.
  5. Lead management: One of the core planning in today’s time is to manage your leads which you get using your digital footprints. If the leads are not managed well, then you would be losing the opportunity by every instance. Also, it creates a negative perception of your brand in the long run. Many a real estate company today has started using a lead management system to streamline their sales activities.
  6. Integration of apps for existing customers: Although, it looks a little expensive at the first place for real estate company to shift to the app to manage their existing customers. But, once developed, it has got a good repeat value for getting the referral business for your next launches. It also helps manage a lot of day to activities of your existing customers, living in your already developed societies. These apps help manage your society well. Be it the service request or bill payments (Water, Electricity, Maintenance etc.) all of it can be managed using a single window. This also helps reduce employee costs.
  7. Integration with E-com – It was earlier believed that E-com is not the best fit for the real estate market. But, companies like Tata Housing has proved it wrong. With their first E-com integration, they were able to sell their 40 to 60 units online with final E-Com transactions. The same method is followed by other developers, and today they are happily using the E-com services to manage their pre-sales funnel. This has helped the developers to create good transparency in the market.

Digital today has evolved in various dimensions and are helping the business to grow. If implemented well, it is giving a good return on investment to various brands and companies. This requires a good market understanding and utilization of digital assets both. We at Eglogics has mastered both the arts by serving over 12 such clients in real estate domains. We have got a team who are the core marketing specialist of real estate digital sales. So, why wait! Let’s catch-up to discuss your brief. 

(Ankit Agrawal)