Authored by Srinivasan Gopalan, Chairman and Co-founder of ArisUnitern RE Solutions
India’s residential real estate sector is experiencing unprecedented growth as shown by a recent report by Knight Frank report which states that the housing sector reached an 11-year high in H1 2024 with 1.73 lakh units sold.
This surge in sales is driven by several favorable factors, with innovative marketing strategies taking center stage. Developers are increasingly utilizing strategic partnerships for real estate marketing, yielding impressive results.
Collaborating with specialized marketing experts streamlines residential sales processes and accelerates transaction velocity by tapping into expert knowledge. This approach not only builds a strong brand presence but also provides developers with a competitive edge. Traditionally, real estate developers relied on in-house marketers to execute sales and marketing strategies. However, the sector has transformed significantly over time and has become more competitive.
Instead of relying on limited in-house expertise, developers now partner with marketing consultancies to strategically leverage their extensive expertise. These agencies, run by industry experts, provide complete C-suite access, ensuring meticulous monitoring and successful project execution. This expert-driven approach is a game-changer for developers aiming to thrive in a competitive market.
With technology rapidly evolving, vigilant developers recognize the need for specialized digital marketing skill sets to make an impact in the digital marketplace. Customer desires and preferences are becoming increasingly complex and nuanced. To stay relevant and deliver winning value propositions, marketing management needs to be adaptable and responsive to these changes. In-house teams may struggle to handle such disruptions; hence, strategic partnerships are the solution.
According to a study by Semrush, nearly 94% of businesses collaborate with specialized services for some or all of their marketing activities. This collaboration helps save time and money, tap into expert knowledge, and, most importantly, boost conversion rates. By delegating marketing functions to specialized services, real estate players can reap similar benefits. Studies also reveal that partnering with specialized services can enhance efficiency by 25%.
Engaging specialized marketing services is a convenient and effective way to streamline the marketing efforts of real estate developers. Beyond managing sales and marketing responsibilities, such agencies build the social media presence of developers and advise on product development and relationship management. They provide comprehensive market intelligence to help developers navigate market complexities and achieve success. By delegating promotional tasks to marketing consultancies, developers can focus on their core competencies and project delivery goals, enhancing overall efficiency and productivity.
These agencies focus on building not only the brand of the product but also the brand of the company, thereby solidifying the developer’s brand reputation. Real estate development is an extensive process involving over 200 touchpoints; by partnering with these agencies, developers can significantly reduce these touchpoints by almost 70%. This allows them to concentrate more on their core competencies and business development, making the entire process more streamlined and efficient.
Real estate developers need a dedicated team to build momentum during the pre-launch phase in a competitive marketplace. Hiring marketing and branding experts with deep market knowledge enhances sales and optimizes pricing. Specialized consultancies handle everything from CP meets and pre-launch to post-launch, branding, marketing, and closure, ensuring projects achieve actual price realization and success.
These consultancies craft compelling USPs that resonate with homebuyers and leverage their extensive networks to generate leads and drive sales. This comprehensive approach ensures projects not only stand out but also thrive in the market.
Tech Tools
Partnering with a third-party agency with proven experience in the real estate sector can help developers leverage the benefits of advanced software and technologies. Data-driven marketing agencies have access to groundbreaking automated tools for reaching prospective homebuyers. Such data-driven tools can also analyze market scenarios, identify trends, determine property values, and decode buyer behavior.
This analysis helps marketers suggest successful project ideas, thus enabling developers to cater to customers’ preferences.
The success of real estate projects depends on lead generation. Marketing consultancies utilize contemporary marketing tactics, such as content marketing, email marketing, and social media advertising for generating quality leads. Once these strategies prove successful in attracting buyers, marketing consultants guide them through the sales process by offering insightful information and tempting incentives until the prospective buyers become convinced to buy or lease.India’s real estate sector is characterized by uncertainties.
Only a surefire marketing strategy can help real estate firms stay afloat during unforeseen circumstances. Successful strategic partnerships enable developers to adjust their marketing efforts based on the phases of their housing project, marketplace dynamics, and shifts in the economy. Moreover, during turbulent times, the specialized service provider can help real estate developers tackle market slowdowns and demand crunch with greater efficiency and expertise.
This approach adds flexibility and responsiveness to marketing activities, crucial for surviving and sustaining changing market circumstances. Additionally, consultancies bring fresh ideas, along with tried and tested selling and marketing strategies to attract homebuyers and help developers compete with harsh conditions in the marketplace, thus re-igniting growth.
Strategic Partnerships
The impressive momentum of the housing sector is driving developers to embrace strategic partnerships to align their projects with current market trends and meet evolving customer demands. Engaging specialized marketing partners can boost sales, improve project delivery, and provide developers with guaranteed success and transformative results in every project.
A study by the National Real Estate Development Council claims that India’s real estate sales will hit $1 trillion by 2030. Strategic partnerships will be crucial in helping the sector achieve this ambitious goal.