4 luxury real estate marketing ideas

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.

Guessed….?

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.

Read: Best real estate portals to list out your properties in India

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.

luxury real estate marketing
This how verified leads work

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.

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How to become a successful sales person?

At the end of the day if your products are not selling then they have to close their company, it applies for all the three sectors even the primary sector need to sell its outcomes at right time and for right price or else it will be perished it applies to secondary and tertiary sector also .So the individual or the team who sells the product are the heart of the company and standing as a company’s face to the customer if the product is not good then the sales person has to take the critics from the customers if it is good then he will carry the appreciation. Right feedback from the sales team helps the business to address their customer needs and to figure out the potential opportunity in the market which could help the business development team to devise a strategy.

Getting a sales jobs is easier than any other domain but to become the successful salesman you need to know the tricks, after experiencing sales profile in MNC I am writing down my observations and how he can improve him.

Many companies started realizing the fact the sales profile is much important than any other so they need to recruit a well-groomed people from big institutions or people with good experience in the market. The pay is also good for sales than operations.

But there is also opportunity for others in the arena like insurance companies, credit card sales, Rmx and so on where they need not to have high qualifications .Companies recruit these people for low basic pay and make them to work on incentive basis so these people work hard to sell more cards or concrete.

Whatever the product is there are something a sales person should know to become successful.

  1. Since he is representing the company he needs to dress well need not a branded one but a neat one with polished shoes since he is representing the company by seeing him the customer will get good impression on the company in this regard we can appreciate medical representatives they maintain very good outfit though the tie is not needed.                                                                                                                                                                                           How to become successfull sales person
  2. He should have a very good communication skill I mean need not to be fluent in English he should able to communicate his intention in his own language either it is Hindi or Telugu he should able to make customer to understand what he is trying to say.

3.Should have the complete knowledge on his product right from top to bottom it is the duty of the company to train his salesperson to have a complete knowledge about the product than any other department he should be in position to answer all the customer queries.

  1. Should not give any fake promises to customers, because most of the companies act on incentive basis to sell the product salesmen are giving some fake details like how MTS salesman gave me almost 90% incorrect details about the scheme and sold the product (MTS dongle) at the time activation I came to know the original scheme which made me a frustrated customer on MTS ,motivated me to mention their brand here. Explain only what your company is doing.How to become successfull sales person
  2. Respect your customer time ,he got lot of works to do but meeting your client is the only job for you so be five minutes earlier then the fixed appointment time. Don’t be late even if he delays be patient.
  3. Most of the time if the product fails or not delivered at the right time customer will only call and scold you. You are not supposed to react but respond you and your company know it is quality function mistake but your customer won’t understand that because you got the money from him.
  4. Coordinate with your customer till the product or service reach him completely.
  5. If it is B2B business try to maintain a long term relationship with the customer follow relationship marketing strategies.
  6. Since you are a salesman you have to handle lot of pressures from your company to achieve the target and from your customer for faulty service you have to handle both of them equally to overcome this issues practise yoga and meditation it will give complete control and I did it.
  7. Maintain a sales kit separately which holds your visiting card, customer cards, a personal notebook and what you needed. Write down everything in a personal notebook regarding the appointment.

These are the ten points I felt important you can also some more interesting points in comment section down below.