A recent report by Assocham found that real estate firms in India spend approx. Rs. 2,500 crore per annum on marketing across different platforms, and digital media only accounts for 25% of it (Rs. 625 crore). However, we at Buzzmeter believe that this figure is only going to rise and here are a few reasons why:
The Indian Home Buyer Has Changed: 25 years ago, the average age of the Indian home buyer was over 50. Now with easily accessible home loans, growing income and the stable financial markets, the fastest growing segment of buyers is between the ages of 30 to 45 and even mid 20’s. The Indian home buyer is now younger and more tech savvy.
The Indian Home Buyer Uses Digital Media: A recent survey by Google and Zinnov concluded that more than half of Indian home buyers used online research for their primary decision making. Other than that, 50% of buyers interacted with interested projects via email.
Digital Marketing Gives ROI: Research has found that digital can give up to 3x better ROI for marketing efforts. Why? Because unlike traditional media which is awareness driven, digital marketing is essentially driven by ROI. The biggest benefit of digital marketing is sending your message to the right target audience with filters on digital channels such as demographics to get optimum results. For example: LinkedIn display ads for premium projects!
Digital Marketing Creates Trust: The biggest challenge for real estate in India is the lack of accurate, in depth and updated information about developers and aggregators. Therefore, companies need to use their websites and social media to communicate the right information on a regular basis. Social media can build trust with social proof and sharing project updates with existing and potential customers. While consumers research online, they see reviews of previous customers and company pages making online reputation management extremely important.
Buzzmeter Can Help: With extensive experience with Real Estate companies across India like JVM Spaces, Swastik Group, IBD Universal and the mega Raj Group (Raj Homes), Buzzmeter is a digital marketing agency that can make your online efforts convert into real life sales and your online reputation embody trust. Our recent online efforts with Raj Homes lead to 40 verified interested leads in 2 months for their upcoming luxury project out of which 22% of the leads are in the pipeline and 1 has been converted with booking already made.
If you are interested in digital marketing services for your real estate brand, call us on 07738645111 for a free digital marketing audit!