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Building brand image brick by brick
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The fast-paced growth of the real estate sector and the rise of competition have led to the evolution of new strategies to reach out to buyers. SHYAMA RAJAGOPAL explores how advertising is looked upon in this endeavour.
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Celebrities endorsing products is not new. But these products are mostly processed food and beverages, cosmetics or white goods.The profile has changed, of late.
They now endorse properties such as apartments, villas and farmhouses too. K.J. Yesudas, singer, and Mohanlal and Jayaram, actors, are examples.
For the builders, looked upon as profiteers, building a brand image is important. Many of them are into aggressive marketing on television, sponsoring reality shows and becoming household names. But not all builders are able to use television because of the cost involved.
Quality helps
Builders who had been in the field for long had been steadily and consciously building an image. “Quality products help build an image,” said Sonoop C. Viswam, marketing manager of Good Earth, which relies more on word of mouth to sell property.
Over the past 12 years or so, all advertising media have been used as a supporting system.
“Mostly, we had used the print, the Web and now, FM radio channels,” Mr. Viswam said.
The Internet has given the best response. It is the best way to communicate to a customer, he said.
“It is the magazines that we have targeted so that an exclusive audience is guaranteed, and we have preferred exclusive magazines such as architectural magazines.”
Promising
The Internet is certainly one of the most promising avenues of property advertising, says Prashant Pillai, promoter of PiK Websites Group. The web site that provides four major services in property advertisement has a cyber property show, property in Kerala, property in Kochi and Pik directory sections.
The NRIs use the Web to look for property, Dr. Pillai said. The Web is yet to reach the grassroots level in the State.
One of the major drawbacks here is that most decision-makers among property buyers are above 40 years of age and not Internet-savvy. But in another five years, online advertisement will be one of the major avenues to showcase property.
It is cost-effective and the reach is global, Dr. Pillai said. The exposure stays alive for a minimum three months for a small charge.
The small-time and less-known builders use the web quite effectively.
“We provide a whole package of services for buyers as well as sellers,” Dr. Pillai said. A seller who asks for assistance is provided special space on the web and the property details are also sent through the e-mail and SMS marketing systems. “We create a URL for them, upload all details on the web site and also provide certain links from some other sites,” he said. For a buyer, PiK takes up an enquiry related to a property and gives advice on the buying options.
The advantage of Web advertising is that the property can be seen from any corner of the globe. At the same time, this can be misleading, Dr. Pillai said. A web site can grow only by performing credibly.
“Our advertisement about the services we provide has to pass through the word of mouth. It is difficult to build an image as the process is slow, but a wrong deal will sully the image built over several years,” he said.
For the promoter of Jairaj Builders, M.D. Jairaj, using a celebrity for endorsing his projects has been part of building brand image. Besides, the brand image created by the similarity in the name (Jayaram) of the celebrity and his brand is striking, Mr. Jairaj said.
Media mix
Television advertisement is best for brand building and hoardings in a city are best to get customers recall brand names.
Of course, sometimes, hoardings act as a brand-building exercise, Mr. Jairaj said. With a celebrity, the customers can connect better with the project, he added.
Builders who have been in the field for long have been low key on television, said A.T. Rajeev, chief executive of Mantra Advertising.
For them, the print media have been the major stay. For the new entrants, television is the best media to reach out. As 60-70 per cent of the clients investing in property are NRIs, especially in West Asia, television advertisements are effective. Using celebrities is part of the image-building exercise, he added.
Mr. Rajeev said that builders have an effective marketing system in place with well-made marketing materials.
The most promising medium is the Internet, he said. It has a much wider reach than any other channel of advertising and most customers who browse property web sites are genuine buyers. Queries coming in from them, if properly followed up, will definitely yield results. Besides, many builders are making use of the new wave of FM radio channels that are tuned into by those who drive to work. Buying and selling property is not the best vocation in terms of dignity. But with real estate prices and housing playing the lead role in an economy, value-added property has started getting recognised as one of the main anchors of society, as the builders and contractors have become leading employment generators.
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Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
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