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20 March, 2020
In the current scenario, Real Estate events are increasingly becoming an important platform to reach out to potential customers. A well-planned event gives a favourable environment for both Real Estate developers & Marketers to showcase their products. Likewise, they are also very convenient for customers as they can learn about various offers in detail & then subsequently take a well-rounded decision. In the past few years, the landscape of Real Estate marketing has evolved dramatically. The uptrend in digitization is making a revolutionary makeover from earlier forms of marketing. Newer forms of marketing such as search & display, content marketing, road blocks & publisher exchange are becoming very popular in the present-day scenario.
However, despite growing trends of digitization & constant inroads made by web & technology, Real
Estate events continue to remain a major source of marketing & brand promotion. A well-managed event can go a long way towards generating quality leads, resulting in higher closure rates & offer ample opportunity for brand visibility. Not only marketers & channel partners, but developers also understand the growing significance of Real Estate events in showcasing, promoting & selling their properties. Hence, they are earmarking bigger budgets for events.
In order to further understand & evaluate the growing importance of Real Estate events, we have conducted a market survey amongst 300 respondents, which primarily includes Real Estate marketers, developers & channel partners. The survey validates how essential events are becoming in present-day marketing. 40% of the respondents believe that events are extremely important to win in modern realty warfare. There are a host of benefits revealed such as dedicated leads, future references, a better understanding of customer requirements & much more. Going forward, events will continue to gain significance in Real Estate marketing. Both developers & marketers will push for bigger budgets for conducting events to leverage their growing significance. Real Estate players are banking big on events to reach out to potential customers. On being asked whether they believe that Real Estate events are important, an overwhelming 40% replied that they are extremely important whereas 43% replied that they are very important- demonstrating the growing significance of realty events amongst the fraternity.
The growing interest amongst the developer fraternity for sponsoring events is rooted in numerous factors. 54% of the respondents believe that it gives them a mass-selling opportunity for their products. Likewise, 52% of the respondents believe that apart from selling, events give developers a powerful platform to brand themselves. A whopping 69% believe that events are associated with better mobilization of the sales force.
There are multiple benefits associated with modern-day events in Real Estate. Around 52% of the marketers believe Real Estate events ensure a better quality of leads. Generally, it is believed that someone who is walking in for an event is a serious buyer & is looking to buy/ invest. As the quality of the lead is good, it is generally easier to convert such leads. Likewise, 56% of the respondents believe that such events also generate quality references for the future.
The developer fraternity also understands the surging significance of Real Estate events as a medium to tap into the potential customer base. On being asked about how interested Real Estate developers are in sponsoring events, 17% replied that they are extremely interested, whereas a sizable 37% responded that they are very interested. Slightly less than one-third replied that they are somewhat interested in sponsoring an event.
Real Estate events in India will continue to gain further ground as marketers, channel partners & developers are realizing their growing significance. It is widely believed in the fraternity that a customer-oriented event with good sponsors can attract a lot of potential buyers. People visiting events are believed to be more serious than other marketing campaigns & hence result in higher deal closure. Apart from home buyers, events can also give valuable insights for investors as well. They can also auto-generate lead for future references & likewise, they offer a tremendous opportunity for enhancing brand visibility of the developer.