Housing.com pumps in Rs 40 cr for its big TV ad blitz
Snehil Gautam, Head of Growth & Marketing, Housing.com, shared that the company will continue with its media mix strategy of focusing more on TV, supported by digital and social media
Housing.com, one of the leading online real estate classifieds, has continued to invest in technology and brand promotions to gain market share despite the Covid-led hit to the housing category. The company has pumped in Rs 40 crore for its big TV ad blitz and continues to leverage a mix of digital and television to keep building on brand visibility, shared Snehil Gautam, Head of Growth & Marketing, Housing.com, Makaan.com & PropTiger.com, in conversation with exchange4media.
Edited excerpts below.
Gautam shared that the outbreak of pandemic has led to a great shift of home seekers to online platforms for their initial search and discovery. “As per the market estimates almost 90% of search and discovery for home seekers in metro cities has moved to online platforms like Housing.com,” he revealed. Looking at the present market trends and impact of the company’s previous campaigns, Gautam revealed that the company will continue with their media mix strategy of focusing more on TV, supported by digital and social media in 2021 as well. “Real estate is not a push product, hence we execute digital campaigns throughout the year and come to TV for events with high viewership like cricket, IPL and primetime shows on GECs i.e. KBC, Big Boss, The Kapil Sharma Show, etc.,” he added.
Moreover, Gautam shared from the strategy point of view, the company has primarily two major objectives of enhancing brand awareness among core audience and increasing real estate-related high intent traffic on the company’s products. “We focus to be present across all such platforms where our core audience is,” he said.
The company claims to have observed a drastic uptick in audience segment from tier II-III cities that are going online and are catering to their preference of content in their native languages and videos instead of long-written content. “Preempting this push we had already made our platform available in 6 regional languages namely Hindi, Marathi, Bengali, Tamil, Telugu and Kannada. Along with that, we are also building a lot of content only for regional audiences,” remarked Gautam.
“The marketing budget allocated for our recent TV advertisement campaign “Yahan search khatam karo” is around Rs 40 crore for around 15 months, starting March 2021,” he added.
While earlier, real estate project marketing used to be one-sided in nature, Gautam noted that now it has transformed into user engagement and personalised connect mode via webinars and virtual tours. “In order to keep up with the transition, advertisers must move from transactional communication to more information and engagement-led advertising. The utility of Interactive marketing campaigns is the best learning from the Covid-19 crisis. The result-oriented impact and its capability to hit the right spot much faster make it extremely helpful for the users,” he said.
When asked if the brand has seen demand inching up in terms of housing sales up to 2019 levels, Gautam observed that according to Real Insight Q4 2020, a quarterly analysis of India’s eight prime residential markets by PropTiger.com, even though home sales in these markets declined by 27% compared to the December quarter of 2019, it showed a 68% improvement compared to the preceding quarter. “While 58,914 units were sold during the last three months of 2020, only 182,639 units were sold through all of 2020. Compared to the overall sales in 2019, the numbers achieved in 2020 show a 47% decline. Except for Ahmedabad, home sales increased across all other cities when compared to the preceding quarter. Housing units in the Rs 45 lakh and below category accounted for 48% of the overall sales numbers during the quarter ended December 31, 2020. Mumbai and Pune contributed over 50% of the sales during the last quarter of 2020 with 31% and 20%, respectively,” he shared.
The brand’s latest campaign captures the essence of the company in its capacity as a problem-solver for buyers, sellers, and renters. “Through its humorous take, the new ad campaign highlights the seriousness of issues property seekers and owners have to undergo. These ad campaign films not only force viewers to identify themselves with the protagonists but also make them realize that home-buying and such business need not be as complicated as we perceive them to be. And it is possible to make the journey of home buying, selling, or renting easier by using Housing.com as the partner. Housing.com is the fastest growing real estate platform in India and this campaign, we believe, will propel us to the next level of audience growth and engagement, “ Gautam asserted. Lastly, he concluded that the company is expecting to close FY2021 on a positive note if not more.
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