The Indian real estate sector is expected to become a trillion-dollar market by 2030, with a focus on investment and innovation. Affordability initiatives have catalysed the expansion of the residential segment, ensuring that housing solutions are accessible to a wider demographic. Cities such as Mumbai, Pune, Hyderabad and the NCR serve as hubs driving demand in residential segments. These urban landscapes encapsulate the confluence of economic activity, cultural richness and a burgeoning population, making them epicenters of real estate growth, as per a report by KPMG.
Furthermore, the blend of technology and sustainability principles has redefined the contours of India’s real estate. From smart homes that integrate cutting-edge technology to data-driven insights guiding decision-making processes, the sector has been increasingly investing in technology, the report highlighted.
Housing.com, one of the players in this dynamic market has strategically positioned itself to capitalize on this growth.
Snehil Gautam, CMO, Housing, PropTiger & Makaan, shares insights about the real estate search portal’s strategic alliance with Disney+ Hotstar, leveraging the reach of cricket and more.
Edited excerpts:
Housing.com has undergone a shift from traditional to digital-first marketing. Can you elaborate on the key challenges you faced during this transition, and what were the biggest successes you achieved with campaigns like “Lookup” and “Parr Se Perfect…”?
Our research shows that our target audiences are increasingly using digital platforms. 97% of our TG are using OTT and 70% consume through connected TV i.e. apps on Smart TVs. Therefore, it was a relatively easier decision to move to digital first marketing as the brands are supposed to follow the user consumption. However, the challenge was to find the right avenues in the digital world to advertise and make an impact. Digital media’s expansive landscape has made us prioritize our efforts, leading to a sharper media mix and a more focused channel/genre mix.
Our campaigns have always been insight led, stemming from deep rooted cultural insights, right from “Ghar Dhoondna Koi Inse Seekhe” where we celebrated women’s significant role as key decision makers in the home purchase journey to “Parr Se Perfect…” where we celebrated small doubts and niggles that arise in the minds of anyone dealing with the question of property sale & purchase. These campaigns have improved Housing.com’s brand salience and today, Housing.com is the No 1 real estate app in India.
The ICC Men’s T20 World Cup partnership with Disney + Hotstar is a strategic move. How did you measure the effectiveness of this campaign in reaching a vast audience and establishing Housing.com as a major Real Estate App? Looking ahead, how do you see OTT platforms and CTVs impacting your marketing strategies in the future?
As a result of our Campaign, 330+Mn impressions across CTV & mobile (mainly CTV) were served to our core audience base, leading to sharp spikes across app downloads and website traffic.
As per our research we see our TG’s media consumption moving towards OTT & CTV, 97% of our TG is consuming OTT & CTV has 70% penetration in our core audience. Given this we see OTT content integrations & Ad inventories across impact shows/live cricket primarily on CTV taking the lion’s share of our media budget.
The real estate market is competitive, and user behavior is constantly evolving. How has Housing adapted its strategy to not only acquire new users but also retain existing ones, particularly with the recent focus on landlords?
Our strategy focuses on continuously launching products and features that directly address these changing demands and improve customer experience so that we are not only able to acquire new users but also retain them.
Through rigorous user research and analysis, we stay attuned to shifts in consumer preferences and market trends. This enables us to develop innovative solutions like real time seller connectivity via housing chat, seller and listing verification, home loan and mortgage solutions.
We prioritize delivering consistent value and reliability like our proposition for sellers where we provide landlords and sellers with verified, price-matched, and ready buyers and tenants, making the property selling process hassle-free for owners.
As digital marketing evolves, data privacy becomes increasingly important. How does Housing navigate this challenge while still using data effectively to inform its marketing strategies?
Safeguarding data privacy is integral to our processes. We anonymise data to protect individual privacy, enabling us to analyse trends and personalise our marketing strategies effectively. This approach ensures we uphold user trust while delivering targeted and efficient marketing campaigns without compromising confidentiality
On what platforms does Housing.com advertise?
We constantly strive to find an efficient balance between reach, frequency and impact in our media mix. For reach & frequency we see YouTube as a platform with CTV and premium mobile targeting on mobile while for impact we will leverage OTT key impact shows & movies along with key live cricket tournaments.
What’s your vision for the future of Housing marketing initiatives? Are there any potential areas for expansion or innovation you’re particularly excited about, and how will these contribute to the platform’s continued growth?
As part of our strategic approach, while we will further sharpen our advertising media mix to bring more efficacies, our effort will be focused on leveraging content by creating digital IPs which will create that long lasting impact in the minds of our customers.