Up until recently, real estate companies were quite happy sticking to traditional forms of marketing. However, with increasing competition, changing consumer preference and rise in technology, developers are looking for unique ways to market. Today, developers are looking to stand out from the rest in order to reach their target audience and acquire leads.
With our strong expertise in the real estate sector, we have planned and implemented quite a few unique marketing ideas for real estate companies. We have listed down 9 unique real estate marketing ideas that can help your brand get noticed and achieve required conversions.
1. Building a Strong Brand Value
Modern consumers have evolved and they not only look for a good property but they want a complete package that provides a better lifestyle to them. Trust in the builder is an important parameter for such consumers. Given a choice, a consumer will opt for a trusted brand like Hiranandani than any other local real estate company with similar flat and facilities, even if it comes with an additional cost. Also, with multiple completed projects, the brand exudes additional trust and confidence in the consumers.
For example, Lodha has built a brand synonymous with a luxurious lifestyle; Xrbia in Pune has built a brand around premium affordable housing. One of the leading builders in Pune, Amanora has leveraged their brand name to market their new upcoming project and was able to achieve leads for only INR 312 per lead.
Takeaway: While running campaigns that promote your new projects, subtly highlight the credibility of your brand as well.
2. Community Building
Apart from building the brand name, it’s important to build an active community comprising of current residents in completed projects so as to drive a higher brand engagement rate. It will not only create a buzz about the brand but will also create an interest in your projects among the contacts of each resident.
Brands like Hiranandani execute Diwali campaigns annually, where residents share their Diwali celebrations in the townships. This creates a lot of user-generated content and spreads an organic awareness for Hiranandani. This also highlights the lifestyle on offer at Hiranandani. Read the Hiranandani case study.
Takeaway: Creating a close-knit community of residents is another way to achieve brand awareness organically and will help build trust in the market.
3. Lifestyle-centric Communication
Buying a home is a big decision for consumers. Consumers look for not only a perfect home but a perfect lifestyle as well. As a marketer, you need to appeal to your consumers’ aspirations. Your communication should reflect their dream lifestyle.
Rather than just showing the apartment or facilities available in the project, brands can demonstrate the aspiring lifestyle, using creative visual elements highlighting the emotions that consumers can connect with.
Takeaway: Match your consumers’ aspirations, with more appealing ads and catch more eyeballs as people get to see their dream gets fulfilled.
4. Onsite Activities for Higher Site Visits
A site visit is one important step in your buyer’s journey. It represents the actual intent of the consumer to buy a home. The more site visits you conduct, the higher sales you can expect. It’s important to drive more and more prospect for site visits and push them higher in the buyer’s journey cycle.
Your site should have virtual centres where you can have a virtual reality section that illustrates how the project will look once completed and let the consumers’ experience the lifestyle. There can be applications of IoT and how it will enable better and comfortable living for the consumers. You can also try a drone, where consumers’ can get a top view of the complete project as per their preference. It will be engaging for the consumer and will also provide an overall view of the project.
Takeaway: Plan multiple onsite activities and experiences rather than just setting up a sample flat.
5. Virtual Tour
Leaving the local buyers, there are many NRI or other regions investors who are part of your target audience. They may not have time to come and visit the property site but surely would like to explore the project comprehensively before investing in it. You should set up VR-based virtual site visits for such clients; it will give them a good consumer experience and will surely improve the chances of closures.
Takeaway: Setting up virtual site visits will help you tap your extended audience and get more conversions.
6. Hyperlocal Targeting
Real estate projects are very location-specific. It’s important to create a buzz around the area where the project is being built. By targeting consumers in a specific location or locations around, you can achieve better lead acquisition cost.
There are 2 ways you can implement hyperlocal targeting, one is through online mediums like Google and Facebook where you have an option to select particulars area in a city to target your ads. Another way is through offline channels, like partnering with local popular spots where you can implement promotional or engaging activities to gain awareness of the project.
Takeaway: Target consumers around your project location or locations around, so that you can achieve better lead acquisition cost.
7. Local Flavour and Emotive Touch
Additionally, you should have a local touch and feel in your communication to connect with your target audience. You can mention and talk about the nearby attractions and activities, and integrate these things into your communication. You can also try vernacular marketing to create a personal connection with the consumers.
It helps you break out of the competition nearby and build a better relationship with the buyer. Many real estate companies in India are running vernacular ads and have witnessed a higher number of inquiries for their projects.
Here is how Padmavat Hills, created a local video ad with Marathi actors for their project in Pune. It increased their CTR by 5% and decreased the CPA by 20%. Read the Padmavat Hills case study.
Takeaway: Bridge the gap between your communication and your target audience by adding a local feel to your marketing.
8. Do a post-festive campaign
Customers are flooded with a huge number of ads and offers during festive seasons. It gets difficult for a brand to really stand out in between the noise and chaos.
One of the most interesting ways to leverage the festive season and let your ad be noticed by your audience is to plan a post-festive season campaign. Just when the festive season is over, there is still a hangover of the festivity and there are not many active campaigns. Thus your ad is more likely to grab the attention of your targeted audience.
VTP Realty from Pune came up with a very interesting campaign called 'Doosri Diwali'. The campaign was initiated post-Diwali and the theme was to celebrate Diwali once again with the exciting offers available on VTP projects. They received more than 7000 enquiries from this campaign. Read the VTP case study.
Takeaway: Plan a separate campaign post the festive season to stand out among your competitors.
9. Setup Marketing Automation
It’s important to have a middle-of-the-funnel marketing strategy, to nurture and push the leads further in the buyer’s cycle. The goal for marketing should not only be to create awareness and acquire leads but also have a plan to convert them into a customer and improve the final ROI.
Marketing automation setups complete automated Email/SMS strategy to all the leads based on their activity, lead stage or time period in the lead pipeline. It enables companies to consistently communicate with the prospects at the right time, with the right message and push the lead further in the funnel.
Companies have achieved a 34% increase in sales revenue with marketing automation*
Takeaway: Marketing automation helps you track and optimize your online and offline campaigns in real-time and let you achieve the best possible ROI for each campaign.
To automate your marketing activities you can explore Sell.Do. Sell.Do is an exclusively designed real estate CRM for sales and marketing automation platform for real estate and provides features like online and offline campaign tracking, integrated sales & marketing reports, drip marketing, bulk Email/SMS and more.
Leave a comment
All these ideas are fine, but will they work in COVID times? Could you suggest some new ideas for the current situation?Leave a Reply
Yes, some of the above ideas can be effective during the pandemic, specifically points 5 and 9. Today, customers are insecure about doing site visits due to health risks. So, virtual tours can be very effective in offering them a safe and convenient buying experience. Moreover, in times when customers are reluctant to make a purchase, using marketing automation for lead nurturing can help your brand engage with buyers, build a relationship and convince them in buying with you. - over 2 years ago
Not sure I agree with all the points, but some of them are actually interesting. I think anyway we will have to come up with new schemes or plans to attract more leads. But these are helpful.Leave a Reply