Monday, August 13, 2012

How do builders market their properties?

When the real estate sector of India was just picking up, there was a huge demand and a shortage of supply. With private players encouraged to develop the properties all over the country, there was a natural picking up of the sale of new projects to investors who want to park their money in the high return investments and also to the consumers. The existing property dealers of those times were instrumental in getting the sales kick off as they formed a local tier of which gets in touch with public on daily basis. Some of the other methods which the builders of present, highly competitive times when the demand-supply situation seems to have been reversed, are undertaking are listed below:

Online marketing
Realtors have realised the potential of the internet in reaching out to the public. They have realised that people are increasing using the internet for finding the things and information that they want and creating online communities and networks. If these resources can be tapped to the full, then there is a real chance of increasing the sale of projects. In order to market themselves well on the internet medium, all developers and dealers are now willing to have some kind of internet presence, essentially through the websites and portals. But, since having these resources is not enough as many others would also have the same, it is important for them to market themselves well and judiciously. For this reason, use is made of methods such as search engine marketing, social media marketing, affiliate marketing and email marketing. This includes both the paid means (PPC, CPA, etc) as well as unpaid means (organic SEO, Facebook posting, Tweeting, etc).

Mobile Marketing
This is another domain of marketing which has picked up since the last few years. By using the SMS marketing as well as optimising websites for use on mobile phones as well as running the paid mobile ad campaigns using Google Adwords, all have been used for reaching out directly to the potential customers.

Off-line Marketing
Advertisements on radio, in newspapers, television, distribution of pamphlets, point of sales counters at key places, using the channel partners such as dealers, consultants and other influential people and through a host of other means, the builders try to improve their sales effort.

Basically, the sales and marketing effort is two-pronged. One is B2C, or business-to-consumer, in which the efforts are made to establish contact the customer directly. Another way to market is to use the B2B method, or the business to business method, in which the sales are driven through the dealers and channel partners. In the latter case, the builder has to part with some of its revenue as commissions are required to be paid to the dealer. Even institutional sales effort can be made in which the corporate bodies are approached for effecting mass sale of units at discounted prices.

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