Luxury real estate marketing is the most challenging segment for real estate marketers to take their product to the right individual.
Like budget segment you know who your potential customer for the project is but unlike budget segment, it is not easy to reach them.
Why is this segment audience so difficult to reach?
For example, a builder promoting a flat in the price bracket of 50lakhs to one crore can easily advertise his property in online portals like Magicbricks and 99acres or through hoardings and many ways are there.
He knows his potential customers are working class segment who all affords to pay the loan. This corporate working class segment will easily share their numbers and they don’t worry about getting promotional calls.
But when the same builder promotes a property worth 5cr-10cr he knows the potential buyers are top corporate executives and entrepreneurs who don’t need a loan to purchase this property.
The main challenge with this people is they don’t share their contact number easily.
The reason behind why they don’t share their number is, we can do a lot of business with the number.
Just imagine you can call him for insurance, you can call him to sell a luxury car, you can call him to become a club member and we can sell many things.
In my experience, I have witnessed proprietors of 5crore turnover business is also hesitating to disclose his contact number to the outside world then think of 500 or 1000crore turnover people.
Then when do they share their contact?
They will share their contact when your offering matches their requirements.
In a luxury real estate marketing, builders instead waiting for buyers to contact they need to make sure their number reaches potential people.
So in luxury real estate marketing, an outbound kind of marketing ideas are much appreciated. Here outbound means not hoardings and pamphlets but the selective medium like print and television.
Being in this industry for few years I found some mechanism that works well for luxury real estate marketing.
If you have any contradictions please comment down below.
1.Selective print medium for luxury real estate marketing
In metro cities at peak traffic, you might have noticed one common thing top executives are doing inside their car.
Yes, they read a newspaper that too specifically business articles in detail.
When it comes to an advertisement on newspaper common real estate marketers promote their product in property segments like property plus or Times properties but in luxury real estate marketing you need to promote your property in the business article page.
The core concept of any advertisement is to cover maximum eyeballs. If your audience eyeballs are reading business pages then you should obviously promote your property on the page.
You have two options in print medium either promote it in a regular business segment or promote it in exclusive business papers like Economic Times and Business Line.
Though the cost of advertising is higher the visibility and advantages are also equally in higher side.
If you have a big pocket you can choose front full-page advertisement for higher visibility.
In this way, you can take your contact number to buyers.
2.Buy verified leads
You might have come across the database packages small-scale builders buy and do tele-calling where the rate of conversion is very very low.Out of 100 calls, they might end up in one site visit.
Most of these leads are collected in trade fairs where 90% are window shoppers. It is collected in such a way that to enter the event hall it is mandatory to leave their contact number and email address.
But the lead I am suggesting to buy for luxury real estate marketing is verified and high quality one where the rate of conversion is high and closing time is also minimal.
Where to buy?
There are few online reputed portals like magicbricks where these people post their requirements along with contact details.
But to access these contact details builders need to subscribe to a package of verified leads (different names in different portals).It works on a credit basis in some portals.
For example you can buy 50 credits for one month. Whenever you contact the builder either through SMS or email a credit from your subscription will be deducted.
All the reputed portals have access to this details with the concern of buyers.
3.First in industry experience centers
It is the first time in an industry that magicbricks introduced a real-time experience center to display your luxury property to high net worth income people.
An innovative artificial intelligence solution targeted exclusively HNIs put up in an airport and high-end malls where top executives walk in and spend ample time viewing your property.
For example, an experience center in Bangalore targeted purely business people traveling across the cities where they can spend enough time with your property after checking in.
Like Magicbricks experience center there are many property displayers across the country but only a few are targeting luxury class and magicbricks experience center is the one.
To know more about experience center please go through this video.
This experience center is not the one-stop solution for luxury real estate marketing but it is one of the solutions without a doubt.
These are the three high ROI luxury real estate marketing ideas to my knowledge if you any please comment down we will add it up.
4.Remarketing is one of the best ways to do luxury real estate marketing.
Hope you have the basic understanding of remarketing concept. If not
What is remarketing: For example, you are logging into Amazon and viewing a product to buy but in between, you are dropping the idea of buying now because of any reason and closing the amazon window.
The moment you viewed the product, Amazon dropped a cookie in your system and wherever you go outside amazon that particular product banner will start following for a specific duration.
Amazon retargets their leads to convert them into customers.
You can find such kind of remarketing from all the established e-commerce portals.
The same concept can be applied to luxury real estate marketing also.
There are two ways you can do remarketing in real estate.
Option A: Google remarketing
To do Google remarketing you need to bring the audience to your website and from then your ad starts following them.
But the challenge here is how you bring potential buyers to your website which talks only about your projects.
There is no any strong reason why a buyer has to search your site and land on.
You are not creating a value or a reason to visit your site.
So implementing Google remarketing is not advisable.
Option B: Magicbricks iFollow – A remarketing tool for real estate
Magicbricks remarketing tool is an innovative concept which is designed in such a way to tap your competitor’s leads and locality-based potential buyers.
Magicbricks is affiliated with 500+ high traffic websites where your ads will keep following them.
How does Magicbricks iFollow work?
For example, You have property worth 10cr in Thane and you want to target people who are all interested in that budget.
So once you activated magicbricks iFollow, whenever buyers go to magicbricks and view your competitor’s projects in that budget range and locality, your ad will start following them.
Buyers will see your banner on 500+ sites like Facebook, Economic Times, The Hindu, IRCTC, Times of India, Tinder and many.
This will keep your property on top of mind of the potential buyers.
Magicbricks iFollow is really an excellent product for luxury real estate marketing.
It comes with two variants either you target your competitor’s projects or locality based.
When you activate locality based iFollow buyers looking for projects in your project’s locality will start seeing your ad.