What Real Estate Industry Needs The Most at The Moment
March 2, 2018
In India, Real Estate is the second largest employer after agriculture. That’s not even surprising, considering the population explosion that the country has witnessed in the last two decades. The magnanimous growth of real estate in India is guaranteed, this statement takes it roots in the fact that real estate remained unaffected even after demonetization in 2016. There has been a constant growth in the need for real estate investments, but what has failed to evolve is the way these needs are taken care of.
With a budding share of 462 million internet users, India is the second largest online market in the world. Every buying intent is first enquired on search engines and other social media platforms. Almost 20 million Indians search for homes online every month. What is surprising is, this whole ordeal of finding the right home is tedious and tiresome. Often times people settle for less, just because that can’t reach out to their right match that provides a solution to their needs.
There is a key amiss in how real estate owners approach their probable customers, leaving both the parties dissatisfied. We need our consumer base to be more well-informed about the plethora of real estate opportunities. The aspect of globalization has to seep through how real estate deals are struck.
Let us have a closer look at why the currently employed real estate marketing strategies aren’t working as expected.
No More Cold Calling
Do away with the need of cold calling. Most of the sales leaders have a constant complain of not having enough qualified leads, despite having fluffy pipelines of leads. An obvious presumption here is that these leads are not interested in the product/service being offered and they were somehow caught up in the sales loop. Cold calling can be evolved to better standards.
Shorten Sales Cycle
Current sales processes that most real estate industries follow take way too long. In the age of widespread digital media, we can leverage technology to effectively reach the right audience. Optimize your methods enough to reach the right customers, at the right time.
Measure to Manage
Measure each dollar spent on marketing. Know how your marketing strategy affects the public perception of your brand. What effects does participation in trade shows and exhibitions have on your revenue? Is it driving enough sales to match the inputs? One of the most grave disadvantages that realtors go through is that there is no apparent way of measuring the success rate of any campaign.
Social Media Presence( or lack thereof)
The biggest of industry players are yet to establish a good social media presence. Online presence is undoubtedly a good way to get in front of the potential buyers. Good online marketing helps your customers find you easily.