In the recent years, the
road for the realty sector, specifically the residential sector has been bumpy
and has been witnessing turbulent times. High inventory levels, diminished
demand and limited liquidity saw sales and prices plummet, impacting new
launches. The real estate sector witnessed the worst phase in 2015-16. Overall
residential sales were down. But in order to resolve and tackle this crisis,
real estate in India has been trying to figure new strategies for marketing and
pushing sales as well its revenues. Today, high to middle-low end customer’s
journey in India starts with online research. Therefore, real estate digital
marketing is a powerful tool for selling residential complexes. In fact, real
estate companies in India are exploiting several mediums on internet, like
digital marketing, to reduce their marketing spends on traditional media and
enhance their outreach, effectiveness and conversion rates. According to
recent surveys and reports, Real estate firms in India spend about 25 per cent
on digital marketing. With such a major chunk of digital marketing proves that
real estate has approved its efficacy and relevance.
Marketing companies like
Krono, look out for new marketing tactics and strategies to lure different real
estate builders. Krono has come up with one such innovative tactic – "Pay Per
Site Visit Model" (PPSV). The potential client is charged a fixed
fee on each site visit. The best part here Krono doesn’t charge the client for
advertising, marketing, collaterals, media or the database selected and
executed.
Krono, is a company
that provides digital and Direct marketing solutions along with value added
services to the customer environment by specialization (specializing) in the
state of the art systems and technology to provide professional outsourcing
service. Providing services in the fields of Email, SMS, Telecalling, Database
Management and Lead Generation and Management, coupled with Marketing
Strategies, Planning and Execution activities, the company has a Reach out
Facilitation to over 10000 clients Pan India. In terms of Real Estate, their
clients have included- Rustomjee, Lodha, KalpaTaru, Kanakia, Dosti Realty, Tata
Housing, Square Yards, Peninsula, Sobha, Hiranandani, Ajmera, Jones Lang
Lasalle, Falco Developers, Godrej Properties, Mahindra LifeSpaces,etc
PPSV
model- In a nutshell
In the PPSV model, Krono collects all
the possible details from the builder about the project that includes the price,
location, amenities, etc. Krono includes all their experience and skill into
creating the collaterals. (Including the creative, design and content)
Accordingly, they then figure which database to use basis the property brief received.
(Be it basis income, pin code, city, designation or community). Further, the media is filtered and the ones which
are most appropriate to market and best suited to the property are chosen. Mediums like Whatsapp, SMS, Email, Google
Adwords, Club Activation, etc are encompassed for the same. Once the media is
figured, Krono tries and executes the
campaign. Hence, they start receiving responses.
The
following mentioned below are the two
kinds of responses received:
A. Junk
Leads- People who don’t fit the criteria
and
B. Raw
Leads- People who fit the criteria, who may or may not show interest.
In the process, Junk leads are excluded and
the Raw leads are called upon. Then the
Raw Leads are asked three sorts of questions –
A. Interest
in the (name) of the builder
B. Interest
in the exact location and area
C. Interest
in the budget (minimum to maximum range)
Once Krono achieves an affirmative
response, that is a YES to all the concerned three questions; those are
considered as a genuine lead. Krono warms up the Genuine Lead right till the
end to come and see the site. In the entire exercise, Krono does not charge for
the collaterals, data Filtration and the media selected and executed. Instead,
in this case they will charge a fixed fee on each site visit. In this model,
one can buy as many site visits as one wishes to buy and the agency will in reverse,
execute the entire campaign to arrive at that many site visits for your
property.
Example of PPSV Model
One of the "A Grade" developers was struggling between leads and verified
LEADS for his project which was based in the central suburbs of mumbai. It was
a very rare case that the leads were converting into site visits. The end
result was poor conversion sites. When Krono figured this problem, the Pay Per
Visit Model was introduced to the developer. The developer had given Krono time
duration of approximately 3 to 4 months’ to turn this issue around in their
favor in order to get maximum site visits. In that time period, the developer
discontinued other marketing activities and worked with Krono closely on every
site visit. Within a short span of time, Krono did around 180 odd genuine site
visits approximately and ended up with 21 closures. This resulted in a success
of almost 30 more hot leads in the pipeline which even included a ticket size of
between 80 lac to 1.2 crore for each conversion. As a result, the developer was
happy to further renew the contract with Krono for six months.
Finally what matters to a builder or a
broker is the conversions and the site visit model ensures the home buyer has
reached the final tipping point just before he does convert to buy the house.
