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Real estate marketing cos allocate 30% spends on digital marketing

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KOLKATA: Over the last few years, advancement of technology has been swift and comprehensive. The digital world, which has changed the way people search and research for property, has led to real estate marketing companies earmarking around 30 per cent of the budget on digital marketing as compared to around five per cent some five years ago.

Additionally, print advertising, which was the only way to sell property, saw companies striving for billboards and signages until a few years ago. However, now the focus is more on social media marketing as well as cross-promotion on different websites.

“A company without an online presence is a rare and dying breed and social media is changing the way businesses are communicating with their customers. The print and hoarding spent, which was around 80-85 per cent, has come down to less than 50 per cent in last five years as people in the age group of 30 years-40 years can be targeted easily through digital marketing and advertisements,” said NK Realtors managing director Pawan Agarwal, who is a real estate marketing consultant in West Bengal.

“The digital space, which could attract around five per cent of the marketing budget has been increased to 30 per cent in last five years,” informs Agarwal. 

Cross promotion on different websites has also gained traction over the last few years. "Till some years ago, if our product was not in the newspaper, we did not get noticed. Marketing today has become a highly digitised experience, especially when compared with what was happening even five - six years ago," said Pioneer Properties CMD Jitendra Khaitan.

Smartphones and tablets will continue to impact on the way property is marketed and also the information available at a buyers’ fingertips, said a city-based real estate marketing executive.

The analyst, referring to a recent advert featured, implying that house hunting has become that easy with a mouse, said house hunting with a mouse is the next hot thing after matrimony and job sites and it is poised to take over the print media in the coming years. 

“House hunting on digital platform had already happened in the US and it was bound to happen here. Most builders predict a bright future for online property deals and thus, have their own websites for the purpose even," he said.

"Buying a home is not a piece of cake for most of us. Sparing time from our busy schedules to visit the various properties and then making the final decision makes it real tough. So digital or online scrutiny of the project helps a help," Agarwal added.

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