Does Digital Marketing Work for Real Estate in India?

Introduction:

In the age of Digital Marketing , where information is just a click away, the real estate market in India is poised for remarkable growth. Through the utilization of digital marketing, it is anticipated that this expansion would be expedited even more. Let's examine the bright future of the Indian real estate industry and how digital marketing may be a key factor in facilitating its growth.

The Soaring Growth of Indian Real Estate:

The Indian real estate market is expected to grow dramatically by 2040, reaching an estimated value of Rs. 65,000 crore (US$ 9.30 billion), a substantial increase from the Rs. 12,000 crore (US$ 1.72 billion) it was valued at in 2019. This sector is not just growing; it's on a trajectory to reach a colossal market size of US$ 1 trillion by 2030, up from a modest US$ 200 billion in 2021. In addition to this impressive growth, it's estimated to contribute 13% to the country's GDP by 2025.

Diverse Growth Avenues:

The growth isn't limited to just one aspect of real estate. While residential property sales witnessed a record-breaking high in FY23, with a value of Rs. 3.47 lakh crore (US$ 42 billion) and a remarkable 48% year-on-year increase, other segments like retail, hospitality, and commercial real estate are also expanding rapidly. These developments are critical in meeting India's ever-growing infrastructure demands.

A Home for Millions:

With the construction of almost 558,000 residences in key cities, Indian real estate developers are expected to accomplish a noteworthy milestone in 2023. This milestone represents not just bricks and mortar but also the dreams and aspirations of countless families.

Foreign Investments and the Future:

In the Indian real estate market, the flood of foreign investors has been crucial. Over the years, the commercial real estate sector alone attracted a substantial US$ 10.3 billion in investments from 2017 to 2021. Moreover, with the replacement of the existing SEZs act, developers anticipate a surge in demand for office spaces in Special Economic Zones (SEZs), further fueling growth.

The Digital Marketing Advantage:

In this era of digital transformation, the real estate sector can harness the power of digital marketing to propel its growth even further. From reaching a wider audience through targeted online campaigns to showcasing properties through immersive virtual tours, digital marketing can amplify the sector's reach and impact. It can facilitate more effective and transparent interactions between buyers and sellers, streamlining and improving the accessibility of the entire process. The Indian real estate industry has experienced incredible progress, but the trip is far from complete. The industry is positioned to reach previously unheard-of heights and completely reshape the future of Indian real estate thanks to the convergence of strategic growth efforts and the dynamic field of digital marketing.

Why Digital Marketing in Real Estate is Important?

Digital marketing is vital for the Indian real estate sector for several reasons:

Wider Reach: The internet has become an integral part of our lives, and people turn to it when searching for homes or investment opportunities. Digital marketing allows you to reach a vast audience, including potential buyers, investors, and tenants, from across the country and even abroad.

Cost-Effective: Traditional marketing methods such as print ads and billboards can be expensive and may not provide the same level of targeting and tracking as digital marketing. Digital campaigns can be tailored to specific demographics and locations, maximizing your ROI.

Targeted Advertising: With digital marketing, you can target specific demographics, interests, and behaviors. This implies that the people who are truly interested in your real estate products are more likely to see your marketing efforts.

Data-Driven Insights: Digital marketing provides valuable data and analytics that allow you to measure the success of your campaigns. You can track website traffic, leads generated, and conversions, helping you refine your marketing strategies over time.

Benefits of Digital Marketing for Real Estate:

The benefits of adopting digital marketing strategies in the Indian real estate industry are numerous:

Increased Visibility: Digital marketing enhances your online presence, ensuring that your real estate listings are visible to a vast audience.
Cost Efficiency: Digital marketing offers cost-effective solutions compared to traditional advertising methods, allowing you to allocate your budget more efficiently.
Better Targeting: The ability to target specific demographics and behaviors ensures that your marketing efforts reach the right people at the right time.
Measurable Results: Digital marketing provides data-driven insights, allowing you to measure the success of your campaigns and make data-backed decisions.

Creating a Real Estate Marketing Plan:

To succeed in digital marketing for real estate in India, it's crucial to have a well-defined marketing plan:

Set Clear Goals: Determine what you want to achieve with your digital marketing efforts, whether it's lead generation, brand awareness, or property sales.
Identify Your Target Audience: Understand your ideal buyers and investors, their demographics, interests, and online behavior.
Choose the Right Channels: Select the digital marketing channels that align with your goals and audience. Social media, email marketing, content marketing, and search engine marketing may all fall under this category.
Develop a Content Strategy: Create a content calendar that includes blog posts, social media updates, and email campaigns. Ensure your content addresses the needs and interests of your audience.
Allocate Budget: Determine your digital marketing budget and allocate it strategically across different channels and campaigns.
Monitor and Adjust: Regularly analyze the performance of your digital marketing efforts. To improve campaign optimization and strategy refinement for better outcomes, use data insights.

How to Promote Real Estate in Digital Marketing?

Now that we understand the importance of digital marketing in the Indian real estate sector, let's explore how to effectively promote real estate through digital channels:

1. Craft an Engaging Website Interface:

Your website is your digital storefront. It should be user-friendly and captivating, giving visitors a smooth experience. Consider it your company's initial point of contact with prospective customers. Make sure it loads quickly, provides simple navigation, and effectively displays your listings.

2. Embrace Mobile-friendliness:

Your website needs to be mobile-friendly in the mobile-first society we live in today. Customers will have the flexibility to view your listings whenever and wherever they choose thanks to a responsive design that makes sure they can visit your website on a variety of devices.

3. Create Conversion-friendly Pages:

Your website has only eight seconds to capture the interest of visitors, as the average attention span is getting shorter. Design, clear call-to-action buttons, and compelling content are your allies in converting visitors into leads.

4. Establish a FAQ Page:

Homebuyers often have numerous questions about real estate services and the homebuying process. A FAQ page may be a treasure trove for answering questions, fostering confidence, and maintaining interest in potential customers.

5. Harness the Power of Opt-in Forms:

Build your contact list by using opt-in forms strategically placed on your website. These forms are essential for lead nurturing and informing potential customers about your most recent listings and market developments.

6. Dive into Blogging:

Your blog serves as a forum for connecting with potential clients and showcasing your expertise. Create content that is optimised for search engines to make sure your posts appear high in the results. Tools like Google Analytics and Ahrefs can guide you in identifying the keywords your target clients are searching for.

7. Embrace Social Media:

Social media is a powerful marketing tool that's used for more than just posting cat videos. Utilise social media sites like Facebook, Instagram, and LinkedIn to interact with your audience, build website traffic, and raise brand awareness.

8. Host Contests and Giveaways:

Contests and giveaways on social media can boost brand engagement and visibility. Promote brand contact to build a closer relationship with prospective customers.

9. Optimize Your Google Business Page:

Ensure that your Google Business page is optimized for local searches. Local search algorithms from Google might make you stand out in your community.

10. Embrace Email Marketing:

A proficient email marketing strategy can notify your clientele about recent listings and trends in the market. Newsletters and property updates on a regular basis can be quite helpful in cultivating customer relationships.

Rizwan Mohammed Yoosuf

Author | Head -Digital Marketing Strategist @ Kiyado Innovations