Rapid advancement in technology combined with growth in real estate has transformed the way buyers consume information and make decisions today. From establishing brand reputation to increasing sales, today leading real estate players such as Shahid Balwa DB Realty are adopting new channels, building relationships and realizing business goals through marketing. To keep up with changing demands and market dynamics, it is important to develop new channels of marketing and optimize existing ones as per the needs of the real estate sector.
Until a few years ago, marketing in real estate was directed solely towards maximizing sales and profits but today it is also connected with brand awareness, recall, reputation and relationship building. With the constant entry of new builders and projects, it is extremely important to maintain unique brand identity and establish a competitive edge. Being a high-value investment, trust and reliability are critical to success in real estate and marketing is a vital tool to build one’s image with virtues of reliability, dependability and consistency. This is further supported through best practices, CSR activities, successful projects, customer testimonials and the like.
As long as the goals of sales and marketing are aligned, achieving business results is a combined effort. Both marketing and sales are performed with a single objective in mind – to drive business through strategic partnerships and customer engagement. Even the most creative marketing and advertising campaigns are considered failures unless they help achieve business targets in the long run.
Traditionally, marketing in real estate was largely dependent on offline channels including print and outdoor advertising. But the advent of digital media such as web sites, social media, blogs and e-mail has opened up promising avenues to connect with the consumer and build a relationship over time. Real estate companies and industry leaders such as Shahid Balwa are leveraging from multichannel marketing to follow a cohesive, 360-degree approach. Multichannel marketing entails the appropriate use of several communication channels to not only interact with potential buyers but also convert them. This includes the use of TV, outdoor ads, direct mail, e-mail, mobile apps, web presence, social media etc. The best part about such an approach is that it doesn’t depend on any one marketing channel to work for you. Instead, a robust marketing strategy is used to reach the right customer at the right time with the right message. By allowing a potential buyer to interact with you through multiple channels, you are able to ease their way along the consumer journey and eventually increase their likelihood to trust you and buy from you. The real estate market has also been keen to explore new forms of technology including Artificial Intelligence (AI). Many common real estate functions have undergone an advanced makeover to automate the process of predicting market trends, collecting user data, engaging with the buyer through chatbots etc.
A consistent, goal-oriented and effective marketing campaign can be the difference between making a single sale and developing a repeat customer. Not to mention the increase in new customers through brand awareness initiatives. In other words, the right marketing mix in real estate can help achieve short term as well as long term goals – drive brand awareness, add credibility, expand into new markets, establish new relationships and develop consumer loyalty.