Consumerism is largely responsible for the growth of the Indian economy in various sectors. One such sector which registered explosive growth is real estate. But back then in 2008 when recession hit the country, Real estate was worst hit with people unwilling to invest in property due to high prices. The dark clouds that loomed over the industry for over a year hit them real hard but are getting back slowly with robust economic growth that the country is witnessing.
While real estate catches up pace, advertising and marketing budgets from the category has been witnessing a steep rise in the past few months to woo customers back. The rise of middle class & young professionals with hefty packages makes them an important target segment. In the rush to seize attention of this audience, marketers are focusing their attention on digital medium as they spend a considerable amount of time on the medium.
ViziSense, India’s leading online audience and ad spends benchmarking platform has some interesting facts to share on the increasing interest and of advertiser and buyers in the online media.
Online ad spends (display advertising ) of the Real Estate category have grown over the past nine months with the first quarter of the current financial year witnessing the maximum advertising activity by the real estate sector which includes online real estate websites and real estate developers.
An analysis of traffic figures reveal that traffic on the top 3 online real estate websites has been growing since the start of the current financial year. - This trend reiterates findings of one of our earlier report that Indians today are not shying away from using the internet for making important (high involvement) buying decisions.
‘Page Views’ (i.e. the no. of pages viewed by a user on a website), shows that the no. of pages viewed in Sep’10 on real estate related websites has increased by 30% over Jan’10
Property Websites (eg. Makaan.com, magicbricks.com) dominated ‘Share of Voice’ over real estate developers (eg. Lodha) over the last nine months; however, the trend reversed in September with developers increasing their online spends
We look forward to the good times ahead!
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