Passionate in Marketing caught up with Shambhavi Kadam, Head of Product Strategy, Marketing and Pre-Sales – Residential, Embassy Group to discuss on How marketing strategies have changed post-covid in the Real Estate sector (Residential)
- About Embassy group and its offerings
Embassy Group believes the good life isn’t a destination, it’s a journey. This quest has led us through roads less travelled, uncharted mindscapes and places beyond the common to bring luxury lifestyles that transcend clichés.
In the residential domain, Embassy Group has developed assets of 30 million sq. ft. of ongoing and proposed residential developments across Bangalore and Chennai. The promise of the ‘Good Life’ is what they offer customers in the residential space – with the best of locations, uber-luxury lifestyles and international amenities. The brand equity that Embassy Group enjoys as pioneers of luxury residences, makes their ready to move-in, ongoing and proposed residential projects one of the most sought-after addresses.
Keeping in line with market trends, the company’s development focus encompasses branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments & smartly designed contemporary homes.
- Who is the target audience for Embassy Group’s residential offerings?
We have a diverse residential portfolio from ready-to-move-in to under-construction properties across prime locations in Bengaluru & Chennai currently. A curated collection of residences that cater to a plethora of lifestyles at varied price points. From Alexa-enabled smart homes, branded residences, sky condominiums, ultra-luxury villaments, uber-luxury villas to integrated townships, Embassy has something to offer for every homebuyer – From Baby boomers to Millennials.
Our offerings cater to Global citizens who are accustomed to the world-class experience and lifestyle are looking for a safe investment in India can look at Embassy’s projects as their future homes, young millennial who appreciate tech enabled efficient designs, Baby boomers who have seen it all and look for their next innings in great community
- What are the key differentiators in the way Embassy reaches out to its TG?
Embassy Group’s brand promise of ‘Building Relationships, Enriching Lives’ flows through every aspect of our marketing initiatives. Our focus is on the finer details that elevate lifestyle such as concierge services supported by teams that share the spirit, create a customer experience, and inherent product differentiation that defines us as a brand. With the customer at the heart of all conversations, ideas are mapped to meet customer aspirations. Along with being digitally adept, we emphasize on human interactions and tailor-made experiences that enlist an omnichannel approach to chart an exceptional ownership experience.
All these efforts are made possible by Embassy Group’s ‘Future First’ vision. Infusing learnings from the present, they are developing properties that are in tandem with the idea of a feeling of a home yet corresponding to the new world.
- How has marketing in general changed in the real estate segment post the pandemic?
The pandemic introduced the world to the new normal of remote working and communication, all thanks to technology. With this also came the wave of digitization, which was embraced across industries, including real estate. In a post pandemic world, there is a clear shift towards digital tools and platforms as a channel for marketing.
- Digital consumption of marketing materials
Online platforms will continue to play an important role in the overall marketing strategy; hence, brands should continue building their digital presence with communication that is educative, emphatic and adds value to their brand.
- Integration of digital into the Media mix
Marketers will need to rethink their media mix across a larger set of channels, such as video conferencing platforms, virtual reality, and — for the right segment — even interactive videos.
- Tips on implementing marketing strategies that promote the company and engage with new-age customers/millennial?
The role of technology is an important component in the real estate sector today, enabling developers with a competitive edge based on the extent to which technology is integrated into projects. For Millennials or new-age customers, technology is an aspect which has a great weightage when considering buying a new home or choosing a particular real estate developer brand. With that said, marketing activities targeted towards millennials should focus on tech-driven transformation.
Leverage social media to engage with Millennial:
Instagram in particular is really popular among millennials. In a study, it was found that 64% of all adult Instagram users belong to the age group of 18-29 years. Millennials don’t trust traditional advertising; therefore, it is imperative for a brand to stay connected with relevant and authentic content that delivers value.
Online channels are certainly important because they provide them valuable insights and information. In fact, the more information you can provide them, the better, however it is critical to ensure you reach the right target group with most relevant datapoints breaking the information clutter that’s present in digital world. Most of them would be spending hours online studying reviews and ratings of products.
Humanize your brand – sell your story, not products.
If you want them to really connect with your brand on a deeper level, you need to move them emotionally. As a brand, the goal should be to create a buzz about your brand which resonates with millennials and your target group. A great way of doing this is by selling the story about your brand or your values, and not simply your products. You need to become a part of conversations, but only for the right reasons.
Focus on Video content:
Videos are undoubtedly one of the most engaging mediums for marketing. Audiences find videos more relatable since they’re capable of communicating stories and emotions.
- How to plan marketing strategies for 2021?
In the last few months, it has become more important than ever for brands to communicate effectively with their consumers. With a majority of consumers shifting online and spending more time on social media and other websites, constant engagement has become imperative. It is important to understand the needs of the customers, target their interests and find possible unique ways to reach them.
Marketing serves a much larger narrative by being more authentic. Companies therefore must aspire to become more transparent, sustainable and purpose-driven in their approach. Communication of the offerings to the customers must be crisp, relevant and add value to the overall mix. It is essential to have an empathetic tone of voice along with trustworthy content for the consumers to relate, engage, and enable a targeted approach.
- Digital adaptability post pandemic? And Adoption of technology like AR, VR, 3D Printing etc. in Real Estate
The year 2020 has seen the evolution of real estate as the preferred investment class. It may seem like a paradox, but the pandemic has catalyzed housing demand rather than suppress it. Home buyers have understood that owning a home plays a vital role in ensuring wellbeing, as well as physical and emotional security. The outbreak of the pandemic brought to the forefront several new challenges for the industry. The role of technology with developers leveraging 3D walkthroughs and Virtual Reality to enhance customer experience, sustain the momentum of sales digitally while additionally focusing on improving construction methodologies.
At Embassy Group, we identified the need for digitization as early as 2017, developing India’s first end-to-end Booking Portal for the launch of India’s first Alexa enabled home – Embassy Edge, our foray into mid-segment housing. Today, we have digital channels such as AR/VR that enable a visual depiction of projects for new enquires. With 24/7 AI based chatbot service and video calls, it helped mobilize our digital assets, facilitate the buying process and thereby augment the sales journey. This trend is expected to continue as customers usually prefer reviewing and shortlisting the desired project online at the convenience of their homes and then choose to visit the finalized property once, before making a final decision.
Going forward, we are in the process of deploying a customized app for our customers which will include end-to-end servicing and all the necessary requirements across the customer lifecycle – including handover and post-handover formalities. It will enable them to receive alerts on completion of milestones, payment dues, due dates, raising queries, simplify payments through the app and receive all documentations including agreements and sale deeds.
- Has the concept of hybrid working changed the requirements of the people in terms of design and space?
The perception of lifestyle has changed substantively in response to the new reality. This reflects in the value that buyers place in the importance of having a community, neighborhood, spatial design, amenities and services. The core design aspects that are relevant today are not new, but intrinsic to projects that are anchored with a forward-looking vision. Developments that derive from an immersive ‘community living’ perspective, facilitate richer fuller lives while ensuring safety and well-being.
As homes turn into activity hubs, we see a continued surge in buyer interest for larger homes even if that means moving to the peripheries to accommodate budgets. The demand for larger residences is fuelled by the need for flexible, multipurpose spaces, facilitating work from home and online learning. Floor to ceiling windows and decks that open out to greenery, zero wastage spaces, in-built storage among other features optimize light, air, privacy and living comfort. The long hours spent indoors has inspired a greater appreciation for integrated ‘Live-work-play’ communities. Integrated developments with extensive lung spaces, zoned areas for children and senior citizens, clubhouses and IGBC certified sustainability ensure a better quality of life.
The recent times have also seen a rising interest in townships and plotted developments. Buyers look for much-needed respite amidst landscaped and open spaces for a safe, controlled environment. Self-sustaining, connected communities that enable access to all amenities within minutes, draw the attention of buyers as It fulfils the need to be closer to family members. The concept of a ’15-minute city’ where everyone can access schools, health care, shopping and leisure within a short walking distance is gathering pace. Senior living communities with integrated facilities will also see a rise in demand.
Shambhavi Kadam heads the Product Strategy and Marketing for the Residential vertical at Embassy Group with expertise and experience spanning over 2 decades in the field of brand & communication design, and product innovation. With nearly 9+ years of residential real estate experience, Shambhavi is the custodian when it comes to taking unique concepts to market and ensuring its success. Heading a diversified portfolio, her marketing efforts have been key in driving a large gamut of projects ranging from uber-luxury to smart mid-segment offerings.