For a long real estate market in India is awaited for a complete restoration. While an increased market price and unreliable market sentiment made the buyers fence-sitters, policy changes and structural reforms made the slowdown even nutrient. Right now, real estate market is betting big on 2018 to have a modified arrangement with better transparency. It requires a modification in the marketing strategies of the developers to bring in complete standardization in the real estate business practice as the developers need to dispense their on-hand inventories for making their financial ranking stable as well as speeding up the overall market sales.
First things first– buyers are no longer gullible. They know about all the forums and platforms to be knocked while having a quick and effective redressal. Thus, developers need to uphold the quality and the actual offerings of the buildings rather than focusing on marketing strategies. For real estate purchase buyers have a comprehensive, online market study before visiting the seller/agent. Followed by the overall change in market behaviour real estate companies have to adapt to the changing market demands. Online promotion is an effective marketing strategy for the builders. Through all their online promotional activities an approach should be innovative enough to hook up the buyers.
Here are potential new trends that might replace the traditional marketing strategies in this year–
Personalization of property– People are running out of time these days. So a property seeker likes to visit multiple projects in a single day. Thus, developers should adopt Personalized messages or images of the property in order to leave a positive and unique impact on the buyers’ mind.
Emerging market behaviour– With so many power boosters “affordable housing sector” is showing the prospect of growth. As government needs to provide 2 million low budget homes by 2022, developers will have a huge investment opportunity lies before them. Thus, they need to employ both the online and offline marketing channels to pull the mass target audience.
Brand videos on YouTube– Visual media platforms have a huge role-play in luring buyers. It takes just a few minutes for a video to get viral. Nothing is more effective than a 360° property video to attract the prospective buyers.
Sponsored events– Sponsored events and more collaboration with the related industries are majorly required for brand development and reach to the buyers.
Emotional connect with the brand image– No advertisement with an emotional backdrop has succeeded ever for brand image establishment. The uniqueness of the proposition attracts the buyers the most. Unconventional advertisements are the biggest crowd-pullers.
“It’s not easy to distract the buyers with over-sized promises against an average offering. Effective marketing strategy along with honest offering is the mantra of ruling the market. Either one of these can’t be taken for granted,”- said Mr Mahesh Somani, Chairman- National RERA Committee, National Association of Realtors India (NAR-INDIA).
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