Every marketing course I’ve taken, all the case studies – global or Indian, were primarily around FMCG brands – from Coca Cola (or Heineken) to cookies and cereals. As far as I can recollect, not a single professor used examples of real estate brands. And thus, it never occurred to a marketer that Real Estate was even an option. It was always a dream to join the Nestles or Britannia’s of the world, and creating large scale TV adverts for them seemed like the pinnacle of a marketing career. Real estate was at the bottom of the list. Why? Because most real estate companies used branding techniques in the form of sales brochures, billboards and newspaper ads to push out their communication. And that was it. It wouldn’t take more than a 3-member brand team to push this kind of communication out every month. What could one sell? Size, location or price -and in the most uninspiring ways possible. I’d see quarter page ads in an inside page reading – “A place that you can call home, now with an indoor & outdoor swimming pool and a jogging track built only for residents”, or it was price-led, “Book today for a price you can’t get tomorrow, a price exclusively for you.” Over time we’ve seen this industry evolve, albeit slowly. The realization that maybe a website would be a good idea, and then that became the competitive edge for RE brands – who can create a fancy website and put most of their information uniquely. I remember my mentor at the agency in 2015 telling me to capitalize on this new realization. Everyone wanted a website, and they are ready to pay. But that’s where it stagnated. No one wanted to sell campaigns, nor did the brands allocate serious marketing budgets.
Cut to today and with this digital uprise, an otherwise boring industry is filled with endless possibilities. With 3D videos, AR/VR taking over the user experience, video walkthroughs and massive dependency on capturing the audience on digital channels – today, real estate is a huge player in this digital world. The whole shared economy (co-living & coworking) is dependent on digital today.
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