The New Paradigm of Real Estate Marketing in India
With the continuous changes appearing in every aspect of real estate development in India, Real Estate Marketing has also greatly evolved over the last decade and half. In fact it could be one of those that has evolved the most in this period, fuelled by both technological and creative prowess of the Indian mind space.
As said above, the changes have been largely driven by changes in technology, in addition to appetite for innovation and the rapid evolution in urban lifestyle. Thus, Real Estate Marketing has become more targeted, context and a lot more personal than ever before.
Some of the key features of the changing face of real estate marketing can be enumerated as – emergence of digital marketing, improved targeting, convergence of lifestyle into marketing, event-based marketing and contextual marketing.
The emergence of digital mediums has quite simply revolutionized the real estate space in the country. Opening up a vast audience to real estate marketing, digital marketing has been the precursor to better targeting, improved personalization and contextualizing of real estate marketing.
With increasing competition, real estate companies do not have the luxury of investing precious advertising rupees on an audience they know are not interested in their product. Inventories can be segmented to suit audience and marketing campaigns drawn to suit each segment according to their taste.
Lifestyle is a term that is one of the most oft used in today’s marketing jargon. Real Estate is one industry that truly sells a lifestyle when it sells a product. Your home defines most of your social activities. The amenities on offer define your level on the social ladder and the address that you reside in, is often a statement in itself. And therefore, often Real Estate Marketing is as much about the lifestyle that you can expect for yourself when you are looking into invest in a property.
Marketing in the real estate space has also become quite contextual with homes now located around IT Parks and Industrial Corridors. This helps marketers create contextual campaigns that resonate with the audience. Properties are now being developed for certain communities (for example doctors’ communities, armed forces communities etc.,) this allows for campaigns to be executed in those ecosystems for better resonance and returns.