Bangalore Real Estate Perspectives Discussion
On this Bangalore Real Estate Perspectives Discussion, we introduce Cyriac Joseph of Vaishnavi. Cyriac has over 23 years of sales & marketing experience in the realty sector in Bangalore and currently is with Vaishnavi Group as a Senior Vice President, Marketing. As a marketeer we asked him about the changing landscape of marketing in the realty domain
With the current change in the market, how are marketer’s adopting to the new age marketing techniques especially in an industry which was largely dependent on print media?
The real estate industry has traditionally opted for mass media advertising like newspaper advertisements and outdoor media, amongst others. With the changing times, there is a definite and perceptible shift towards utilising technology and spending smart. Developers are investing in new age digital technology as part of brand building and to acquire customers. Amongst the many advantages of the digital medium, the key is its ability to talk to customers one-on-one and at a fraction of the cost of traditional media. Additionally, the associated analytics and the tracking mechanisms give us good insights into customer behaviour, which in turn helps create new ways of reaching them effectively.
Most FMCG brands have gone on to use digital in various forms to engage with the audience, do you see Real Estate industry following a similar trend
Yes, but the approach is adapted to suit the specific needs of the real estate industry.
Most FMCG companies have a national presence and obviously requires a much higher degree of brand recall. The product range in FMCG is lower ticket and typically sold off the shelf. Given the volumes involved, it requires larger reach.
Real estate on the other hand have very few national brands or players. Digital dependency and strategy will vary from industry to industry. In the real estate industry, lead generation platforms utilised quite effectively. Brand presence limited to product launches. Sometimes limited to some key events. Even social media is yet to be utilised to its fullest potential.
Do you see real estate industry across areas having different approaches like North India seeing more print, South more digital – or do you feel marketing as a mode to reach out is same across areas?
It is largely the life cycle of the project that determines the media. However, at the current juncture, the residential market in South India is likely to see a comparatively larger digital presence but this line is likely to blur and in fact disappear in a year or 2.
What all tools do you use in Vaishnavi from customer acquisition and engagement perspective?
Lead Management System
Click to call tools
The views expressed here are solely those of the person interviewed in his private capacity and do not in any way represent the views of the brands/organizations he is or has been associated with.