Social Media has emerged as an trusted and cost-effective medium to sell properties thanks to the recent slowdown in demand, real estate developers have accepted this new medium with open hands.
Big names like godrej properties, puravankara group, that housing are the names who have switched towards social media over the traditional medium to market their projects, which has also led to a overall reduction of the mass-media marketing cost by over one-tenth of the total cost. Social networks like Facebook, twitter and youtube are the most prominent medium. This new medium has seen success due to the increase in smartphones users and more NRI investment on properties due to the rupee depreciation against dollar in recent times.
Tata Housing has been an major example, one of there projects in Pune named La Montana generated one-fourth of the sales was affirmed by the leads generated by a Facebook Campaign, the make it more funstional they even offered buyers a chance to experience the La Tomatina festival in Spain this August. A spokesperson of Tata Housing development Company said " We have fosused on Social Media with a broder prospect, aggresively imroving there social presence with over 25% of annual budget allocated to social media".
Bangalore-based Purvankara Group, which has hired specialist agency Yrals to manage its online activities, too plans to significantly increase social media share in its marketing spends from the current 10%, its CEO Jackbastian K Nazareth said.
The company recently had run a social media campaign, named Breakfree, where they offered waiver on Booking amount, pre-EMI, floor-rise prices and loan processing fees - adding up to Rs 62 lakh - special attractions for the users booked through their social media platforms.
Big names such as Mahindra Lifespaces, Lodha group and Shobha developers have already adopted the social media trends for brand building, employee engagement and to address enquiries from potential buyers.
Dreamz infra has also followed the suite of social media propagation in the recent times and have active interactions and quality information posted on major social media platforms such as Facebook, Twitter, Linkedin, Youtube, Slideshare, blogs, etc...
Social media is also an important tactic.
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