Real estate developers pitch clients on Facebook, Twitter for cost reduction
One positive thing to come out from the recent slowdown in demand is that numerous real estate developers have derived a cost-effective medium to promote and sell their respective housing projects: social media.
Puravankara Group, Tata Housing and Godrej Properties are few in the midst of an increasing number of developers using social networks such as Twitter, Facebook and YouTube for promotional and marketing activities pertaining to their projects, and at just about one-tenth of the cost of mass-media marketing.
As per these builders, the method so far is proving to be effective amidst the tech-savvy users of smartphone as well as non-resident Indians who have been showing an increasing interest in purchasing properties due to the rupee’s recent steep decline against the dollar.
For example, Tata Housing, was capable of selling one-fourth of its La Montana project situated in Pune via leads generated through a campaign on Facebook which proffered buyers a chance to experience the festival of La Tomatina in Spain this August. In accordance with a spokesperson of Tata Housing Development Company, the company is aggressively ramping up its digital presence by focusing 25 per cent of its annual budget on social media.
As per the Chief Executive Officer of the Bangalore-based group – Puravankara, in order to manage its online activities has hired a specialist marketing agency called Yrals. The group too plans to significantly hike the share of social media in its total marketing spends from the present ten per cent. The group executed a social media campaign called Breakfree, a short while ago. The charges levied as the booking amount, floor-rise, pre-EMI and loan processing fees were waived off to the tune of Rs 62 lakh for people who participated in the campaign.
According to the executive vice president of marketing and sales at Godrej Properties, many non-resident Indians as well as people residing in other cities book apartments solely through digital interactions.
As per joint chief executive officer of Social Wavelength, a firm which handles Tata Housing’s digital presence, social media has grown to roughly 15 per cent of the marketing mix of realty firms from around 1 to 3 per cent three years ago.
Companies such as Lodha Group, Mahindra Lifespaces and Shobha Developers also use social media for activities pertaining to employee engagement, brand building and also to address the inquiries from potential buyers.
