Futureofonlinemarketinginrealestate__.doc - FUTURE OF ONLINE MARKETING IN REAL ESTATE National Conference on \u201cInnovative Marketing Strategies for

Futureofonlinemarketinginrealestate__.doc - FUTURE OF...

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FUTURE OF ONLINE MARKETING IN REAL ESTATE National Conference on “Innovative Marketing Strategies for Sustainable Growth” Mr.Bibek Singh Sandhu*1, Ms Tamanna*2 Manager –Sales and marketing Dhillon Group. Assistant Professor SMS Deptt.,Baddi University Of Emerging Sciences & Technology. [email protected] [email protected] 9888394581
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FUTURE OF ONLINE MARKETING IN REAL ESTATE Abstract With the increase of internet penetration and easy access of information on the net more and more home buyers are now using internet to help them make purchase decision. Nonetheless to say internet presents tremendous opportunity to real estate developers to reach much wider audience and market their projects. As per the data provided by Google survey more than half of real estate purchases in India are now influenced by internet. Most developers have realized the scope of online marketing and are fast venturing into this mode to promote their projects. The main purpose of this study is to find the future scope of online marketing in developing countries like India. A sample size of 100 has been taken and appropriate statistical techniques have been applied to drive the result. A structured questionnaire was provided to recent home buyers to see how much their purchase decision was affected by online marketing. Keywords: Online marketing, real estate, internet. Introduction In India internet penetration is increasing at a very fast pace, mobile internet penetration alone is expected to reach 213 million by June 2015 that will be a 23% increase within 6 months. As per TRAI (Telecom Regulatory Authority of India) there are 935 million mobile connections as on 31 October 2014, so we can well imagine the huge potential for the growth of this market. Figure 1 explains the growth graph of internet penetration in India Fig 1
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India is now the third largest internet user in the world but the internet penetration is just 13% of the total population. Thus there is tremendous scope for marketing and reaching wider audience through this media. Most real estate businesses have realized the scope of online marketing in developing countries like India and are fast venturing into this mode of marketing also for their projects. Advantages of using internet as a marketing media are: Cost-effective Vast Reach Minimizing Risk Maximizing efficiency Cost-effective : Online marketing is the most cost effective mode of marketing as there is no requirement to set up physical infrastructure for this kind of marketing we are able to reach maximum target audience at minimal cost. Vast Reach : With the help of internet we can reach more people than traditional advertising media at a fraction of the cost. If we want to promote a real estate project in the national and international market then also internet is one of the most suitable method.
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