SALES & MARKETING TRENDS OF GUJARAT REALTY
The real estate of Gujarat is vibrant and much in demand. But it does need a push factor to attract customers. Recounting the evolution of the profession over the years, Jigar Mota, Director & Head of Transactions, Gujarat, Cushman & Wakefield said, “Over the past 12-13 years, sales and marketing has witnessed significant changes evolving from simple text messages to Instagram reels. The progression of technology has taken centre stage in sales & marketing today. However, Real estate companies often overlook the importance of marketing, especially in digital mediums. Many developers in Gujarat still rely on the star power of a celebrity as a brand ambassador to generate interest.” Anup Shah, Real Estate Specialist, agreed, “Developers are increasingly using technology to reach out to the customers while marketers are employing both digital and traditional marketing methods though, visually appealing hoardings featuring celebrities remains a favourite marketing approach in Gujarat. But, the role of channel partners has undergone a major transformation as they are getting more tech savvy to stay in the game and in fact continue to be a crucial part of the sales process for driving conversions.” Throwing light on the commercial real estate sales Vipul Lodha, COO, The Address shared, “Unlike, commercial real estate in West that is driven by large investors, in Gujarat the office demand is for smaller floor plates by entrepreneurs and small businesses. Flex spaces are increasingly getting popular, as they offer cost-effective, short-term options for various businesses. The sales and marketing approach is thus designed and targeted towards these profile of customers. WhatsApp and email marketing, creating expert articles or blogs on multiple platforms, helps establish credibility and creates a buzz.” Talking about the importance of customized marketing for specific asset classes, Govind Rai, Co-Founder & CEO, Insomniacs Digital Pvt Ltd, said “Understanding customer demographics and desires is vital for effective marketing strategies. Residential projects Ahmedabad, focus on a 5-7 km radius, while diverse targets like Savvy Marina in Gift City need broader awareness. Commercial markets have end-users, investors, and leasers; targeting CXOs. Adapting to audiences is key.” When examining real estate projects as a developer handling numerous developments, it is essential to consider the approximate marketing costs associated with each venture. Neel Thakkar, Managing Director, Dharmadev Infrastructure Ltd elaborated, “An effective project marketing involves three components: marketing the land or location, focusing on product quality and unique design. Thereon, the overall sales and marketing strategy builds on these three fundamentals. For example, we launched a one-million-square-foot project in Ahmedabad, targeting high-end properties. Despite scepticism, 60 units were sold on the first day due to strategic design. Focusing on quality and location reduces marketing expenses.” THE RIGHT MIX The experts were of the view that the real estate companies in Gujarat are still waking up to potential of digital marketing and the latest tools. The developers need to focus on more than just their website. A strong presence on social media platforms like Twitter, Instagram, and Facebook is necessary to generate interest about a property and new launches online. Informing about the various channels of marketing Govind Rai explained “Numerical data, like customer acquisition cost, impacts the choice of print or digital or OOH. Marketing is vital for distinguishing products, and efficient number usage is key. While print ads offer visibility and assumed ROI, digital campaigns may be more cost-effective and generate better leads. Print and digital ad cost ratios vary from 1:5 to 1:10. Nevertheless, print ads are useful for brand-building and relaying time-sensitive promotions. In fact, an effective marketing strategy would include a combination of digital campaigns and targeted out-of-home advertising that can significantly contribute to lead generation and sales. Successful pilots with AI and platforms like Facebook and Google showcase the effectiveness of digital marketing.” In discussions of sales and marketing, it is crucial not to overlook the significance of channel partners, as they form the backbone of the real estate business. Inducing a conversation on the different approaches of collaborating with channel partners, Anup Shah says, “The right mix of in-house sales and channel partner can bring in the desired results. Offering top-tier commission rates, conducting knowledge sharing sessions to increase their comprehension of location, product design and other relevant aspects and engaging in frequent interactions to identify any concerns or challenges that may be hindering sales or preventing desired outcomes are the new way of sales & marketing. Also, though it is an era of digital, I believe the print or hoarding still creates more impression on a customer’s mind than a digital ad which gets an attention span of probably a few seconds” Concurring to the fact that the real estate sales and marketing has progressed from an unorganized segment and there is a more professional approach especially from the channel partners, Jigar Mota explains, “The channel partners have donned the role of advisers and wealth managers, investing on behalf of their clients and they have started asking questions to the developers on the quality, delivery and time lines. In addition, the social media has now become an easy space for the beleaguered customers to vent out their anger if something goes wrong with the project. All these factors have made marketing a tough job that relies on the quality of the product.” Sharing his initiative on an ideal approach on collaborating with the channel partners, Neel Thakkar stated “While launching our housing project, we created a unique Channel Partner event along with the architect to help us convey our vision. As property market undergoes significant growth and the channel partner profession continues to evolve with the current generation's enhanced expertise, we will keep seeing newer models of collaborations and marketing models mix.” Vipul Lodha being a part of a development company on one hand, and a flex operator on the other, shared his thoughts on marketing to clients for “build to sell” projects, and on the other to large multinational companies for "build to lease” properties. “We should understand what we're building and what the market needs from large floor plates for IT companies to small offices for professionals. Our marketing approach caters to all clients with the message customized as per the target audience”. In conclusion, it can be said that while, traditional channels such as print, TV, radio and outdoor media ensure mass reach, higher recall and even inspire credibility , they involve high costs, difficulty in measuring response and ROI, and limited reach. Digital, on the other hand, resolves most of these shortfalls but, it might miss the human element that is an essential aspect of real estate interactions. As the experts convey, careful consideration of ROI and the broadness of reach can decide the marketing route of choice. An effective project marketing involves three components: marketing the land or location, focusing on product quality and unique design. Neel Thakkar When two products are same in terms of quality, location and design, how do you win? That's where the right marketing can make a huge difference in the success of a project. Vipul Lodha The print or outdoor hoarding still creates more impression on a customer’s mind than a digital ad which gets an attention span of probably a few seconds. Anup Shah Digital technology has had a profound impact on the real estate industry, leading to a shift towards prioritizing lead generation and quality customer engagement in marketing strategies. Govind Rai The channel partners have donned the role of advisors and wealth managers, investing on behalf of their clients. Jigar Mota
Tags : sales marketing trends Gujarat Realty business success growth real estate developers working Jigar Mota Director & Head of Transactions Gujarat Cushman & Wakefield Anup Shah Real Estate Specialist Govind Rai Co-Founder & CEO Insomniacs Digital Pvt Ltd Neel Thakkar Managing Director Dharmadev Infrastructure Ltd Vipul Lodha COO The Address