BYTE TO BRICK NAVIGATING REAL ESTATE'S DIGITAL SHIFT
According to Govind Rai, Co-Founder & CEO, Insomniacs Digital Pvt. Ltd, “With the help of AI, we are wit- nessing an automation of workflows and data visibility on unified dash- boards, which creates an oppor- tunity to assess and improve our sales, marketing, and operations. Platforms like 99 Acres and Magic Bricks once served as pivotal cus- tomer engagement hubs until 2015, Meta and Google have since taken the forefront in lead generation and customer outreach.” Nidhi Srivastava, Co-Founder & CEO, Vibe Services, agreed, “The digital future is predominantly shaped by giants like Meta and Google, yet we find ourselves in the early stages of technology adoption, striving to progress from basic to advanced phases. While these platforms facilitate lead gen- eration and sales, optimization is still missing, as evidenced by disproportional costs and exces- sive man-hours dedicated to lead conversion.” Vishal Doshi, Vice President - Head of Sales & Marketing, Kanakia Spaces, added, “We too are learning and undergoing transformation through partnerships for both sales & marketing mandates and digital platforms.” Meet Merchant, General Manager – Marketing, Oberoi Realty shared, “Oberoi Realty, with four decades of experience, is embracing new-age strategies by prior- itizing future-oriented planning and construction methods, as evidenced by our effective mar-tech applications including generative AI utilized in the Thane project. The real estate industry is evolving towards more sophisticated CRM usage that enhances customer re- lations through communication and data-driven insights.” Ankit Shah, Marketing Head,Strata, added, “Since our inception as a technology-forward company, we've aimed to eliminate geographical barriers for investors. The shift to online platforms during COVID-19 led to a reduced demand for phys- ical site visits, with only one such request over the four years of Stra- ta's existence. Our commitment to transparency has fostered trust with our investors, evidenced by the full digitalization of transactions.” THE WAY FORWARD Vishal Doshi said, “Marketers and leaders must ensure that com- prehensive training is disseminated throughout our teams to align with the evolving perceptions of digital transformation among promoters an ongoing improvement in our sector. Utilizing first-party data, we analyse behavioural patterns to enhance cross-sector sales; for in- stance, purchasing a home adjacent to our school guarantees admission, generating an influx of leads, thus we leverage AI to discern spending habits and lifestyles to effectively promote our projects.” Ankit Shah added, “Adaptability is crucial, where integrating technology can enhance business and marketing strategies. Companies need to deliver leverage digital ad- vancements to provide consumers with efficient, time-saving solutions. Brand building has become im- perative due to increasing spam; hence, utilizing platforms like Cir- cle for controlled communication,acknowledges user preferences, prevents customer loss and sup- ports our shift from a 10% to a 50% direct business model.” Meet Merchant expressed, “We observe Cadbury's success in creat- ing a strong emotional connection through digital campaigns, highlighting the potential for real estate to emulate. Despite a digital surge, the human desire for interaction persists, reinforcing the importance of digital storytelling. As digital ROI becomes more challenging to jus- tify, it is crucial to effectively utilize assets and focus on engaging the right audience in order to ensure successful conversions.” Nidhi Srivastava concurred,“Global investment dynamics involve both NRIs investing in India and Indian nationals venturing into international markets. The credibil- ity of a brand is paramount, particularly for off-shore investors unable to physically inspect properties, which has led to successful partnerships between real estate com- panies and luxury brands creating compelling co-branded stories. We are pioneering a strategic shift towards sourcing primary information to transform our business model from traditional sales channels to direct engagements, optimizing both distribution network and client interactions.” Govind Rai added, “In light of Google Chrome phasing out cook- ies, the significance of first-party data is heightened, prompting in- quiries into its effective capture at venues like cinemas. The advent of new technologies presents an opportunity for tapping into movie audiences to enhance real estate sales.” The once-dominant belief in the necessity of physical presence has pivoted to a robust digital- first approach in branded real estate and investment-driven fractional purchases - Ankit Shah The current post-pandemic era underscores the importance of digital brand building and its role in long-term company resilience - Meet Merchant We need to move beyond the current input-output systems towards more sophisticated, self- regulating technologies - Nidhi Srivastava Branding holds significant value these days, and companies like Meta and Google are constantly influencing this belief - Vishal Doshi NLP technologies facilitate immediate bot-led communication post-lead generation, proving highly efficient for entities within the sub one crore segment- Govind Rai
Tags : Govind Rai Insomniacs Digital Pvt. Ltd Nidhi Srivastava Vibe Services Vishal Doshi Kanakia Spaces Meet Merchant Oberoi Realty Ankit Shah Strata