For every real estate company, selling their property is the key to maintaining healthy cash flows and keeping the company financially stable. From offline to online advertising, developers are willing to try anything to generate leads and reach out to potential buyers.
Being a leading real estate developer in Mumbai (Maharashtra) for about 25 years, Realty News Club Ltd had secured a great position in the real estate segment with 25+ projects delivered in the residential category and 6 in the commercial category.
However, with the recent financial landscape movements, real estate developers had been facing a financial crisis due to the large number of unsold properties. Realty News Club’s latest project in Goregaon, Mumbai was supposed to be a game changer for them to put them in the league of large real estate developers. Obviously for large projects, major investments and debts were raised.
Lead Generation Analysis
When Realty News Club Ltd was using its digital marketing sources through various channels, the web traffic generated by these sources was less as compared to their expectations. The number of leads generated by the company’s source were 27 leads on an average per month (Year 2018). The company had a sales team of five people who were involved in direct selling and obviously the channel partners (property dealers) who were supporting the develop- er for sales. The conversion ratio of the leads was a meagre 4.73% on all the leads received through the digital channel.
Deciding what to incorporate in the lead generation strategy of your marketing endeavors are particularly important when it comes to businesses like real estate. With Realty News Club, the expansive shift to digital marketing was the right choice but the failure to execute it perfectly has disappointed the outcome. Any digital marketing agency would converge with the points that the best way to generate leads is through lead generation campaigns. These campaigns involve contacting potential customers through various channels, like email, phone, or social media. You can also use lead generation tools to create targeted ads that will reach your target market.
Marketing your real estate services is important for two reasons: first, it's a way to reach potential customers who might not have heard of you yet. Second, it's a way to build brand awareness and increase the number of leads you have. By targeting your marketing efforts towards the right people, you can maximize your chances of converting those leads into customers. These would organically help you but as in the case of Realty News Club, the outcome is a lesson of how orthodox tactics don’t necessarily yield results.
Joining Forces with Emarketz
During Jan 2019, EMarketz approached Realty News Club Ltd and presented their lead generation services to the management. However, management was hesitant to opt for this service as their past experience with digital marketing’s ROI was not good (They had hired a digital agency from Jan 2018 till Nov 2018). EMarketz’s sales team apprised the management of the performance clause and also added a touch of manual inventions, organizing site visits and other add-ons which enhance the user experience when dealing with a real estate developer. The management of Realty News Club Ltd contracted EMarketz in Jan 2019 for lead generation service for their Goregaon project.
Engineering Effective Solutions
EMarketz’s lead generation services for the real estate sector are planned with an objective to hand-hold the end user and work with him for his budgets and concerns. EMarketz approached the campaign in a two pronged manner and started sharing knowledge videos, comparison of projects, investor insights to the targeted people in Mumbai potentially looking for a house of their own or looking for investments.
From the signals thus generated, a pool of interested prospective buyers of 10,000 clients were created. The specialist team of EMarketz was then pressed into service and manual validations of each and every lead started to happen. A lead was considered a lead when the end user was willing to go for a site survey. EMarketz’s campaign had picked up full steam by the end of Feb 2019.
Effective Marketing solutions
Multi-Pronged Campaign
Multi Platform Advertising
Creating Presence
Video Marketing
Project Comparisons
Audience Targeting
Networking
How EMarketz Reduced A Lead’s Distance to Decision
Before contracting EMarketz, Realty News Club ltd had 900+ unsold inventory with an average distance to decision for lead being 73 days. Average monthly leads being generated through the digital platforms was at 27 before EMarketz started working with Realty News Club Ltd. By the end of Feb, EMarketz was generating 120+ leads on a monthly basis. However, in the real estate segment, generating the leads is usually not an issue, however, having leads which convert is an issue.
EMarketz worked on the leads through remarketing, exclusive insights of the projects and repeated contacts with the leads to reduce the average distance to decision to 27 days. Apart from the increased number of leads and reduced distance to decision, the conversion ratio also increased from 4.73% to 13.81%.
Outcome Comparison
Before Emarketz
- 500(50%)
- 400(40%)
- 300(30%)
- 200(20%)
- 100(10%)
(Year 2018)
No of leads per month
Conversion rate
Distance to Decision
With Emarketz
- 500(50%)
- 400(40%)
- 300(30%)
- 200(20%)
- 100(10%)
(Year 2019)
No of leads per month
Conversion rate
Distance to Decision
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