ALIGNING MARKETING STRATEGIES FOR SALES SUCCESS
Sharing his opinion on how real estate has evolved post pandemic and the future shifts, Arun Anand, Co-Founder, Flow Realty, said, “In the short term, the real estate market may experience reduced momentum due to increased property values and high interest rates. Despite this slowdown, India's long-term growth potential remains strong, with the possibility of a 5x increase in the residential market over the next five to seven years. To capitalize on this growth, industry players must adapt and develop their businesses. Key factors for success include establishing a strong brand presence and assembling efficient teams. However, potential short-term challenges must be navigated strategically to benefit from India's thriving future market.” Samir Arora, CEO & Founder, Huts Global concurred, “Change is a constant factor in life. The past two and a half years have observed substantial cyclical changes. An indication of this is the doubling of stock prices in the next six months, reflecting a significant growth in the real estate market.” Virendra Singh Sood, Chief Marketing Officer, Mantri Developers Pvt. Ltd. added, “Throughout my professional journey, numerous shifts have occurred due to diverse influences, including economic, social, and environmental factors. These variations significantly affect consumers' choices in the real estate sector. For instance, technological advancements and global economic fluctuations led to strategic changes in markets and consumer behaviour. Consequently, sales and marketing departments must constantly adapt to these ever-evolving conditions for continued success.” Elaborating his vision for the future of sales and marketing in real estate, encompassing residential and commercial sectors, as well as upcoming significant transformations, Dhruba Ghosh, EVP & Head Marketing, Provident Housing Ltd. & Purva Land, said, “It is crucial to consistently adapt our strategies, merging marketing and sales efforts to meet customer needs. Implementing technology platforms ensures increased efficiency and enhanced customer experiences. Digital twinning and virtual product demonstrations foster greater client engagement, while personalized communication establishes meaningful relationships with customers.” Highlighting the significance of adopting new-age real estate sales and marketing strategies to replace obsolete models for industry professionals, Rahul Goyal, Co-Founder, Realatte Ventures LLP, said, “Digital advancements are revolutionizing diverse sectors, with urban areas experiencing notable progress. Incorporating automated qualifiers in CRM systems enhances lead pre-qualification, as evidenced in the financial sector. Generative AI facilitates creative marketing without conventional agencies, saving time and resources. Influencer marketing gains traction in real estate for rapid project awareness and modern testimonial advertising. Businesses must adopt these growing trends to remain competitive in the fast-paced digital world.” Sharing his view on how rapidly will technology transform sales and marketing functions within an organization, Karthik MV, Head Sales and Marketing, Vaishnavi Group, stated, “The real estate industry has significantly evolved from traditional newspaper advertisements to online virtual sales during the pandemic. Technology has driven this disruption and facilitated progress. Adapting to new technology is essential, and the focus should be on improving our capabilities to work cohesively with tech. Technology integration is not independent but synergistic in nature. To better understand customers and cater to their preferences, it's crucial to capture their digital footprints, resulting in a more personalized approach. In conclusion, embracing technology and working collaboratively with it is the key to growing in the evolving real estate landscape.” EMBRACING DISRUPTION Rahul Goyal shared a latest disruption, “AI-driven video personalization is an innovative marketing tactic, enhancing lead engagement. Utilizing customized videos and influencer partnerships can foster improved connections with customers. Performance marketing campaigns utilizing ABCD-format videos effectively captivate audiences, optimizing costs and ROI. Additionally, chat GPT technology offers untapped potential to elevate customer experiences.” Dhruba Ghosh added, “I'd like to emphasize the growing implementation of Chat GPT in the industry, although it may take time as companies strive to maintain a personal touch. The emergence of audio calls as a filtering method for more natural and efficient communication is noteworthy. This disruptive innovation could significantly reduce resource wastage and save time. Overall, such advancements may quickly transform the landscape of communication technology.” Arun Anand questioned, “Can customers discern unique messages amidst an influx of customized content? The efficacy of push marketing strategies, driven by AI, has its limits. It is essential that product has attributes such as quality, cost, and placement that draw customers without technological intervention. In industries like real estate involving high-value transactions, the effectiveness of personalized marketing remains debatable. Potential buyers appreciate developers who prioritize the checks and balances in development process alongside technology. Ultimately, project execution in a responsible manner is highly valued by modern customers.” Virendra Singh Sood shared his perspective, “The implementation of innovative solutions is crucial for marketing the majority of projects effectively. Exploring these strategies with consideration to the appropriate intent and outcome will allows us to understand their true advantages and make informed decisions.” Samir Arora added, “Considering global advancements, adapting by consistently unlearning and learning is crucial to staying ahead in the evolving world of chat GPT technology and Google innovations.” Karthik MV was of the view that in the sales process, it is imperative to utilize storytelling to highlight unique selling points of properties with similar features. “By incorporating construction technology and comparing methods, we establish transparency and trust with our customers. Successfully integrating these strategies with the right content enhances customer relationships and ultimately boosts sales performance.” DYNAMIC MARKETING LANDSCAPE “Irrespective of sales & marketing changing trends, specific projects can provide rental yields ranging from 4% to 7%, depending on unique circumstances. The resilience and aspirational nature of Indian real estate ensure that retail investor interest persists,” said Karthik MV. Giving an example of dedicated thrust on innovation Dhruba Ghosh shared his company’s example, “We successfully developed an online platform for home purchases, tested its efficacy in 2019, and observed remarkable results, which has prompted us to further scale and refine the model.” Addressing the potential evolution of sales and marketing into specialized fields and whether Indian developers will fully outsource or establish in-house expert teams, Arun Anand stated, “India's real estate industry must grow to match the sales of global giants. Developers should focus on conceptualizing and executing larger projects, while relying on third-party specialists for sales and marketing. In doing so, rapid growth may be achieved in the coming years.” Rahul Goyal added, “Collaborating with industry experts significantly improves the efficiency and qualification ratios for brands, as observed in our digital management cases. Additionally, these partners contribute valuable sales expertise to the process.” Emphasizing on the significance of continuously training and educating the industry fraternity on sales and marketing, Virendra Singh Sood said, “The key to success for sales and marketing professionals is adopting an owner's mind-set. Despite having marketing professionals with AI certifications, there is a lack of focus on sales training. To address this issue, a new Blue Academy certified sales training program is being developed, aiming to function as a mini-MBA for sales. Periodic performance checks and certifications, similar to Dubai's RERA, should be implemented for salespeople in the Indian market. Additionally, companies ought to publish individual sales performances openly for better assessment of their employees' capabilities.” Samir Arora concluded, “Marketers should be consistent in introducing innovative strategies by assisting brands in identifying and excluding specific audience cohorts, resulting in more efficient targeting and cost saving." THE INFLUENCE OF SOCIAL MEDIA IN REAL ESTATE MARKETING IS CONSISTENTLY ON THE RISE. MARKETERS TOO ARE UTILIZING THE VAST REACH OF PLATFORMS LIKE INSTAGRAM, FACEBOOK, AND TIKTOK TO CONNECT WITH A BROADER AUDIENCE BASE. Adopting approaches from other industries can help boost the overall performance of India's real estate market- Dhruba Ghosh The real estate industry continues to evolve, necessitating well-trained and certified salespeople- Virendra Singh Sood Retail investors are actively engaged in the Indian real estate market, which remains strong post-pandemic for capital appreciation and rental yield- Karthik MV Today’s customers not only seek advanced technology but aspects such as safety, responsibility towards laborers, and quality construction, play crucial roles in their decision-making process -Arun Anand Disruption benefits those who embrace it, especially in the realm of real estate sales and marketing -Samir Arora Disruptive strategies like customized videos and influencer partnerships are transforming brand interactions and customer conversions -Rahul Goyal
Tags : Dhruba Ghosh Samir Arora Rahul Goyal Arun Anand Virendra Singh Sood Karthik MV