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Digital Marketing for High-End Real Estate

  1. An approach paper by Growth Marketing for High-End Real Estate Maximizing ROAS on digital spend for luxury/ high end real estate.
  2. The high-end of the real estate market is driven by savvy, affluent consumers who have learned to thrive in today’s new, post-recession Reality Who buy Premium Real Estate Projects
  3. ● Who buys luxury homes in India? ● Characteristic sought in Home ● Why digital marketing burns advertising money ● The Smart approach- Think Growth ● Long Term Growth Strategy ○ Objective ○ Approach ○ Expected Results ● Medium Term Growth Strategy ● Objective ● Approach ● Expected Results ● Launch Strategy ● Objective ● Approach ● Expected Results Topics Covered
  4. “Quality” has become an expectation in the world of luxury. It is a given. Traditional forms of luxury are losing their luster as consumers become familiar and ultimately bored with the “same old, same old.” More and more, the affluent today want something new and different and the once strong push to find “the right products” is giving way to a search for something deeper, unique and more meaningful. The following are few profiles of luxury home buyers. Who buys luxury homes in India?
  5. Demographics ● Profession: Corporate Executive ● Avg - 50+ ● Married ● Have children Passion ● Volunteering ● Attending sporting events ● Recreational sports (golf, tennis etc) ● Environmental/Sustainability ● Arts and crafts Spending Power ● Avg Income: 1.5-2 CR ● Avg assets: 3-4 CR ● Avg investable assets: 2-2.5 CR Real estate value ● Avg Primary home value - 4-5 CR ● Do own a second home ● Avg second home value - 2-3 CR This consumer, though significantly affluent, tends to repeatedly use products and services they have used before, and so they are hesitant to stray far from what they know. Buyers in this price range tend to rely more on the real estate sales professional to take them through the purchase process.They are motivated by emotional connections based on happiness, feeling good, and having fun. They want to feel like they are making a smart decision. Luxury is not central to their lifestyle User Persona 1 - Ravi Malhotra, VP- Sales Marketing
  6. Demographics ● Profession: Businessman ● Avg - 50+ ● Married ● Have childrens Passion ● Fine dining ● Outdoor activities (hiking, cycling etc) ● Finance and investment ● Museum and art exhibition Spending Power ● Avg Income: 2.5 - 4 CR ● Avg assets: 15-18 CR ● Avg investable assets: 4-5 CR Real estate value ● Avg Primary home value - 8-10 CR ● Do own a second home ● Avg second home value - 2-3 CR At this level, buyers are motivated by feelings of wanting the best life offers, feeling pampered, indulging and relaxing. The purchases they make are about who they are and how they want others to see them. The purchase should reflect who they are, and their commitment to producing long term good. Their passion reflects a desire to better understand the world they live in, and to improve themselves through experience and education. User Persona 2 - Aakash Chopra, Business Owner
  7. Demographics ● Profession: CEO ● Avg - 48+ ● Married ● Have children Passion ● Fashion style ● Shopping ● Cars ● Personal appearance Spending Power ● Avg Income: 4 CR+ ● Avg assets: 8-10 CR ● Avg investable assets: 10 CR+ Real estate value ● Avg Primary home value - 20 CR+ ● Do own a second home ● Avg second home value - 8 CR+ These ultra-affluent consumers can buy anything (although not everything) they want. They approach buying decisions with both rational and emotional considerations. These buyers can prove very challenging to forge honest relationships with because they may fear appearing overindulgent about their consumption. When they understand what they are buying is not available to everyone, has a customized feel, and even comes at a premium price, which helps them feel confident that what they are buying is worth more. They are motivated by feelings of power, a desire to “have it all” and feeling important in the purchase. User Persona 3 - Yash, Business Owner
  8. Below are top 10 traits or characteristics sought amenities and home features stood out in the current luxury real estate landscape: 1. Lots of privacy and security - outdoor surveillance cameras with night vision to protect a home’s perimeters; safe rooms with oxygen scrubbers, back-up generators and blast films on windows to make them virtually impenetrable; and ceiling devices that when tripped, fire pepper spray or a fog laced with ingredients to temporarily debilitate unwanted intruders. 2. Master bedroom with an en suite luxury bathroom 3. Energy efficiency and environmental design 4. Kitchen with high-end appliances already installed - Counter space, considered prime real estate even more so than stoves or appliances, is expanding exponentially and also allowing a household’s multiple cooks to create in tandem. Precision, efficiency of movement, command of space defines a chef – which so many of us now aspire to be. 5. Master bedroom with dual walk-in closets - Just as your art and your home are the image you project to the world, so are the clothes you wear. That is certainly the reason that closets continue to grow in size and opulence. 6. Outdoor patio/deck designed for entertaining 7. An open floor plan throughout the house 8. Kitchen area conducive to entertaining 9. Close proximity to shopping and services 10. Display of art in the home continued as a major priority for luxury homeowners, whether that is dedicated gallery space or integrating art in a home’s primary living spaces. Characteristic sought in Home
  9. Advanced in-home technology for home security is quickly becoming an important distinction for wealthy consumers. Safety and privacy have always been concerns, but today’s fully digital security systems that feature monitoring (video) and intervention (ability to lock or unlock doors) are increasingly important. ● Security Technology ● Operate home security system through a mobile device ● View live or recorded video of your home through a mobile device ● Door lock/unlock through a mobile device In-home entertainment also fits into the technology conversation. The stakes continue to raise with integrated media, and wireless speakers are just the tip of the iceberg. ● Entertainment Technology ● Wireless speakers throughout the home ● Advanced in-home theatre/media center ● IMAX home theatre Technology in Home
  10. Luxury Real Estate Follows Trends in Luxury Asset Classes, not the General Housing Market. Unlike buyers in the overall housing market, affluent buyers have the capacity to purchase and sell a residential property for reasons beyond necessity. Much like a high-value art purchase, the acquisition of a luxury home is motivated by a variety of factors including preservation and growth of capital, diversification against geopolitical risks, defense against inflation, diminishing volatility, lifestyle the desire to own a beautiful asset of lasting intrinsic value. India’s real estate sector contributes 5-6% of its GDP and is expected to be worth $180 billion by 2020.Though the sector has seen a sustained slump in the past few years — recent reports reveal that sales of residential units dropped by 2.2% in FY16, to 1,58,211 units from 1,61,875 units in the previous fiscal — a silver lining is visible. In the first three months of 2016 itself, sales have risen by 9% to 42,541 units from 39,001 units compared with the same quarter in 201537. Commercial real estate sales saw a revival in FY16, rising significantly to above 35 million sq ft. Passing of Real Estate (Regulation and Development) Act (RERA) and also opening the Real Estate Sector to FDI has sent the stone rolling for the reforms in this sector and hint at reviving the sector in the long run. The government’s decision to demonetise old Rs 500 and Rs 1,000 currency notes from the market has put a curb on the black money in the Indian market which will adversely impact the Real Estate market in the short run but make it more viable and sound investment destination in the long run. At the end of 2016, there were approximately 264,000 HNWIs living in India, with a combined wealth holdings of US$3.0 trillion. Indian Luxury Real Estate
  11. During the review period (2006-2016), Indian HNWI volumes increased by 290% from approximately 68,000 HNWIs in 2006 to 264,000 HNWIs in 2016. Indian HNWI volumes increased by 12% over the past year, from approximately 236,000 HNWIs in 2015 to 264,000 HNWIs in 2016. Indian Luxury Real Estate
  12. Manufacturing is the main industry from which Indian HNWIs have acquired their wealth – it is the primary source of wealth for 18% of local HNWIs. Other important industries for them include basic materials, technology and financial & professional services. According to the latest New World Wealth report, India's financial capital here is home to 46,000 millionaires and 28 billionaires, and is followed in terms of wealth by Delhi in second place and Bengaluru in third place. Mumbai is the richest Indian city with a total wealth of $820 billion, a report has said. Indian Luxury Real Estate
  13. Typical digital marketing agencies list Search and Social Media as the two tactics they believe can drive the most business for them. But only a small percentage of agencies actually execute these campaigns because they don’t know how. When it comes to online marketing campaigns, most in the real estate industry tend to focus on generating traffic and acquiring as many leads as possible with little emphasis on relevance. Most of the digital marketing campaigns fail because - Poor execution Overgeneralized launch strategy is myopic in nature which amounts to a big waste of time and money for brokers and agents during the launch of project.The correct focus involves a well thought out strategy with proven tactics that create relevant traffic, leads and ultimately clients. Fragment approach, No segmentation Platforms that aren’t thoughtfully integrated to account for the impact of potential changes from multiple parties will experience a negative ripple effect at some point in time. You need one powerful platform which can integrate all marketing activities to segment and analysis your performance to make better decision going forward. Accountability, Support and Sales funnel integration Agencies usually never disclose on where funds are used, and where they end up wasting money on poor execution. If the wastage is not controlled at early stage when numbers gives you glimpse of future picture you end up loosing all budget at early stage. Why digital marketing burns advertising money
  14. We at believe driving up the adoption of digital requires awareness, attraction, filtering and experience and all have to come together in a single package through carefully crafted funnel. Providing Partners a solution through which we can reach out to “right buyers” and deliver the experience before the visit increase the chances of conversion. You never need 1000 to know about your product. You just need 100 people who are interested in buying your product. We segment “growth” approach on 3 high level. Long term Medium term Launch We partner with you towards achieving your target in allocated/before deadlines. we use strategic marketing to drive traffic to an effective website – once the traffic has been on the website we keep marketing to the visitors using Google, Facebook and email. The Smart approach- Think Growth
  15. We approach growth and plan it through 3 step process - 1. Product Presenting and positioning product as aspiration and dream come true to the target audience. This emphasis on product will have direct impact on sales. 2. Testing and Optimisation Experiment and test every marketing channel. Track the performance of campaigns and ROI for each channel. If anything does not perform well, do not touch it anytime soon in near future. This allow you to significantly filter your marketing approach and extract more through less investment. 3. Brand building Creating brand personality through social media and continuous engagement with target audience will able to leverage at time of project launch. Social is powerful platform to acquire new users and keep existing users engage with you. The Smart approach- Think Growth
  16. We live in a world in which the barriers to international business relationships have declined while the art of comparative performance measurement has been raised to a science thanks to the likes of We focused on delivering maximum “Sales Qualified Leads” and least “window shoppers”. Customers who have experienced the product and valued it against potential competitors have higher chances of conversion. We understand web development, the user experience, search engine marketing and optimization, branding, conversion tactics,social media integration in depth and how to utilize each platform for the success of your business partners. Who buys luxury homes in India?
  17. Objective Technology leadership, experience delivery, competitive position, are some of objective we hold accountable ourselves accountable in long term growth strategy. This is usually spread over 3-5 years span to keep it ready to be leveraged when we launch projects in between. Approach We help you to create long term growth through: ● Branding campaigns ● Technology hooks ● TOFU (Top Of the Funnel) Content Approach Expected Results ● Perception building for potential buyers ● Potential buyers pursive primal as trusted advisor on luxury real estate ● Increase awareness/engagement with potential buyers ● Driver traffic, collect leads to touch base for launch campaigns ● MQL (Marketing qualified leads) Long Term Growth Strategy
  18. Objective Medium term growth planning help to strengthen the company's position in consumer mindset after they become aware about the brand. Generally it spread over 3-4 months time period through different themes 3-4 times a year. These campaigns create base for launch campaigns. Approach We help you to create medium term growth through - ● Exact target audience no matter where they present on digital platform ● Partnerships with brands and products used by target audience ● BOFU (Bottom Of the Funnel) Content Approach Expected Results ● Recall value for brand ● Potential buyers value primal over competitors ● “Educated-product aware” potential buyers ● SQL (Sales qualified leads) Medium Term Growth Strategy
  19. Objective Launch campaigns drive leads and increase actual site visits. Generally it spread over 1-2 months. Approach We approach and target filtered leads and new potential buyers through multi-channel approach. ● Search marketing ● Display marketing ● Gmail marketing ● Remarketing ● Social media marketing ● Organic brand building ● Paid activities ● Interest based targeting ● Influencer marketing ● Email marketing ● Drip campaign ● Database marketing Expected Results ● Actual site visits ● Better ROI Launch Campaign Strategy
  20. Each strategic approach changes according to - ● Stage of project ● Target audience ● Inventory size ● Product value ● Geography ● Month of year There is one-size-fit solution approach for marketing high-end real estate project. This document gives you an overview to approach while strategy of execution will change according to project.
  21. Contact ● Amol Ghemud ( Website ● Contact No ● +91-97663-34689 How to reach us