How can Digital Marketing help your Real Estate business?
Introduction
Gokuldham by Nirmaan Homes is one of the most well known residential apartment projects in Mangalore. This project has all the features that are needed for a perfect living experience. People who are looking to buy apartments will find this an attractive proposition because it is located at Mannagudda which is one of the most sought after residential localities of Managlore.
Challenges
Lack of Digital Presence
As this was a relatively new project, there was almost zero awareness about it.
Offline/traditional advertisements were not a good option
As the world was hit by the Covid-19 pandemic, people avoided stepping out of their homes, hence banners weren’t very effective. People even cancelled their daily newspaper subscriptions which meant that newspaper ads were also going unnoticed.
Due to covid, the number of enquiries had dipped drastically
Due to the pandemic, the sales process was very low with almost no enquiries happening.
Alter Solutions
The challenges above had to be tackled in a smart way and this is what Alter did. We tapped the right corner of the market and generated exceptional results. Our marketing effort was aligned towards spreading awareness and acquiring quality leads.
Market research:
We carried out a thorough market research to learn about the potential customers among the audience, so we could target them specifically to get potential leads.
Social media ads on Instagram and Facebook:
With the information we gathered from our market research, we set up ads for a very niche audience to avoid our ads from reaching non relevant audiences. We also kept optimising our targeting on the platform according to the feedback we received from the client’s sales team.
The impact
Given below are the results that we achieved:-
- Generated 275 leads through social media ads in a span of 39 days with a total budget of Rs.15,000
- 152 of the 275 leads were of good quality.
- The average cost per lead was Rs.60
- Created a good brand recall which led to further word of mouth referrals.
Conclusion
- It is a very common notion that customers for real estate projects can not be found online, but no matter what your niche is, your customers are present here. Therefore, establishing your presence online creates more awareness and hence increases the chances of you acquiring leads of good quality.
- Since social media marketing allows us to specifically reach out to our potential customers, the money invested in marketing is spent a lot more efficiently when compared to other offline marketing options.
- Having more sources for lead generation reduces your risk of marketing channel saturation due to competition or natural causes as mentioned above.