HomeLane’s focus to be on renovation, expansion & new technologies: Tanuj Choudhry
Choudhry, who handles Sales, Marketing, Category, Design and Business Development, for HomeLane talks about the brand's marketing propositions, advertising strategies & target groups
HomeLane has raised $30 million in Series D funding and intends to use the funds to expand operations and its business reach to other cities, says Tanuj Choudhry, Chief Business Officer & Board Member.
HomeLane.com is an online interior designed brand with presence in Bangalore, Chennai, Hyderabad, Mumbai, NCR, Kolkata and Pune. It has established itself as a key enabler for homeowners in furnishing their dream home. HomeLane.com has already delivered 6,000+ projects since inception with support of 900+ design experts and 16 experience centers. The firm has designed and delivered 4500+ homes to homeowners across 7 cities. It offers an industry-first '45 Days Delivery or Rent guarantee' proposition to customers.
Choudhry, who has been primarily responsible for Sales, Marketing, Category, Design and Business Development, spoke to exchange4media about the brand's marketing propositions, marketing and advertising strategies, target groups and expansion plans.
Elaborating on the expansion plans, Choudhry said, “We are planning to expand to more cities like Coimbatore, Vizag, Kochi, Lucknow, Ahmedabad and Nashik. We put in a lot of effort in choosing the cities where we want to expand our operations. When we started researching other interior lifestyle players, we figured that the number of recalls were very high. HomeLane’s selection philosophy has two parts to it one being gauging demand. We don’t look at people who are searching home interiors on the internet, but in addition to that there are people who look for ancillary products. We have taken some of those variables from the demand side.”
“We started operations in Kolkata 8-9 months back. It is a Tier 1 city, but it possesses a lot of factors of a Tier-2 city. We realised that lack of good organized players is a big boon for us because when HomeLane’s average conversion rate is 22 per cent, in Kolkata it is 25 per cent. We close one in every 4 customers, even with Tier-2 cities wherever the interior brands are lesser we go ahead from a supply side and that’s the second part. Sales is never an easy task, but it is possible if you spend the right amount of time, effort, and money on it. Executing is not easy because it requires good manpower and ecosystem. We are planning to launch in 3-4 cities in the next four months. Few of the launches will follow slightly different strategies.”
Speaking on the brand’s strategy, he said: “Our core strategies are not going to be different than what we have done for the last few launches. In many of the cities we started getting inbound request of franchises even before our entry. The two main strategies we follow are to set up a core team in the new city and we also figure which is the closest hub to that city. For example, Coimbatore’s closest hub is Chennai, the latter becomes the mentor for the former city.”
On the TG of HomeLane, Choudhry said: “The first way of cutting the segment is own v/s rent, second is whether it is first home to second home. Our core focus has been on the first home ownership and first home rental, this makes about 70 per cent of our business. In this segment, most of our customers lie in the 28-45 age group. They are typically people who have a monthly income above Rs 60,000+. Most of these customers are from the service background, they respect their timelines. They expect the work quality to be high and that’s what HomeLane provides.”
“We target them through a couple of strategies. In the last 4-5 years, we have become better at digital from a branding standpoint as has always been the most cost effective way of doing advertising. We invest money in terms of marketing dollars in both Facebook and Google. On Google we do a lot of display ads at the same time we spend a lot of time on the search engine marketing making sure that the paid search gives us the right ROI,” said Choudhry while speaking about marketing strategies.
Commenting on the Home renovation market in the country he said, “Home renovation market is twice the size of the new home market in the country. At the same time it’s twice as hard because first you have to break them to make them, while renovating we have to get the details about the house right. We are building a strong in-house team from the civil, plumbing and electrical category.”
“We will go after the Home renovation market in a methodical way. We are also expanding to home decor facilities. So, our focus will be on renovation, expansion to new cities and new technologies,” Choudhry concluded.For more updates, be socially connected with us on
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