By 2030, the Indian real estate market is anticipated to be worth $1 trillion, and by 2025, it will have contributed roughly 13 percent of the country’s GDP. It goes without saying that the widespread introduction and use of technology have been crucial in enabling this dynamic expansion.
This traditionally traditional business has been transformed into a resurrected, tech-based, and ideal one because to the advent of AI-powered proptech platforms that enable various real estate-based services through a smooth tech-driven approach.
Having stated that, every business tries to win over its target market in today’s era of a customer-centric corporate environment. This is accomplished through creating marketing campaigns that are customised, personable, and interconnected and go beyond the usual forms of print and outdoor advertising.
Gauging the considerable attention of the target audience has become very difficult due to the information saturation and short attention span of customers. Indian real estate branding and marketing, which is predominantly supported by conventional marketing techniques and traditional advertising, is progressing more slowly than the norm worldwide.
Nevertheless, adopting cutting-edge marketing strategies to capture the interest of the target audience has made some success in recent years. The pandemic that hit the planet in 2020 has further hastened this trend.
The pandemic’s effects
The biggest effect the epidemic may have had on the real estate sector was when it first appeared in early 2020. All players were forced to reevaluate their marketing and advertising efforts to draw in their target audience as transactions ceased, outdoor hoardings and billboards lost their effectiveness as a result of lockdowns, and transactions generally stopped. Proptech platforms made a significant contribution to the real estate industry at that time. Let’s examine some of the most important marketing trends happening right now, which are mostly being driven by proptech platforms.
Development of Digital Marketing
The introduction of digital marketing and the widespread use of social media have radically changed and permanently revived the traditional marketing strategies. The use of particular social media platforms to target a brand’s niche audience, develop enduring relationships, and seize the ideal moment through “moment marketing” has completely changed the game.
The generic, repetitious, and boring hoardings and billboards have been replaced with quirky, personalised, and brand-new digital content. This has greatly expanded the potential for speedy optimization based on feedback, as well as greater mobility and freedom to update and adjust the campaigns.
Performance marketing and automation with AI
Proptech’s emergence has raised the bar for real estate marketing by expanding it somewhat beyond hard sales to include client acquisition, property management, and investor interactions. The target markets for various goods and services, including real estate investment trusts (REITs) and fractional ownership in commercial real estate, as well as house buying and selling, differ.
They therefore require a variety of tools and techniques to disseminate their primary themes. Beyond simply e-commerce, AI-driven performance marketing is having an impact on both established realtors and up-and-coming business owners.
AI is challenging the conventional wisdom in sales and marketing through real-time recommendations and insights. With the aid of AI, marketers can create the best-fit marketing mix model, reduce the cost of customer acquisition, and transform the total marketing plan into a tactical game that uses a lot less money and resources.
The ideal balancing of the “phygital” phase is the best feature of the newly upgraded marketing game. Young marketers are now finding the ideal balance by fusing automated and digital marketing gimmicks with strategic brand collaborations to develop relationships with their clients that go beyond the transactional.
This entails collaborating with blockbuster films, rising sports partnerships, and in-show branding with top web series and video content platforms. The way proptech is guiding the new marketing era for the whole real estate industry has undergone a true paradigm change as a result of these trends.
The real estate sector is going through substantial change. Future efficiency improvements are probably in the cards, and proptech will undoubtedly play a big role in them. The real estate industry’s success with early adopters of new technology highlights the value of making these kinds of investments. It is time for all real estate stakeholders to consider how proptech might open up new opportunities and add value.