Raunika Malhotra of Lodha Group shares insights on the marketing strategy to build a brand language that aspires to inspire, and introduces consumers to a better life that a Lodha residence can accommodate.
The aggressive urbanization and surge in residential properties are expanding the housing market at an accelerated pace. Organized retail real estate stock is expected to increase by 28% by 2023, India recorded 2.4 Bn USD worth of investments into real estate assets, a growth of 52% YoY, according to reports.
The home-grown real estate company Lodha Group gives us a glimpse into how the brand is bolstering its marketing communications to unlock the potential that the expansive housing market of India holds. In conversation with Raunika Malhotra, President, Marketing & Corporate Communications, Lodha.
Raunika Malhotra formulates corporate strategy, brand management, business operations, and business transformation at Lodha.
The State Of Real Estate In India
Raunika believes the housing sector in India is at the cusp of a 15-year cycle because of the factors like increasing demand driven by nuclear families, growing incomes, easy availability of mortgages, and an equally important fact of homes becoming a crucial part of people’s lives post COVID-19.
There is also a desire from homebuyers to own a home from Grade-A developers as they provide world-class developments with best-in-class amenities. "A consolidation in demand and supply will give a boost to the sector, as well as the economy."
The marketing strategy by Lodha holds an aspirational value to it, each campaign is a presentation of a desirable lifestyle, and this outlook has been a presentation of a desirable lifestyle. The insight for this approach has been looking for a better lifestyle for themselves in their homes.
Social prestige and professional success are the two constant elements of the communication language of the brand. From digital video campaigns to the social media strategy, each piece of communication by the brand seeks to stir a desire for a remarkable lifestyle, that starts from and ends at home.
The brand frequently collaborates with publishers such as Design Pataki and Tweak India, for the exploration of intricate designs and a fulfilling lifestyle. Various content series such as Better Life and The Art Of Home feature personalities such as Esha Gupta, Founder, Design Pataki; and Heena Sidhu, Professional Shooter, who confer about a desirable lifestyle.
They are on the lookout for different amenities for leisure & well-being, open spaces, well-developed social infrastructure, and the finest hospitality services that offer comfort and convenience. "Every aspirational Indian wants and deserves a better life at their home," said Malhotra.
The social media strategy of Lodha involves a representation of eye-catching visuals with subtle product integrations.
Along with showcasing luxurious properties, the content also dives into the informational aspect of the amenities and features required to be highlighted. The content properties also develop an aspirational narrative and present aspects of familial life and a homely vibe.
The Aspirational Personalities
Whether it’s Akshay Kumar & Twinkle Khanna, the ambassadors in their several campaigns, or endorsements featuring Jim Sarbh, Sussanne Khan, and the recurring collaborators, campaigns by Lodha often feature aspirational personalities showcased living the prime lifestyle a residence can offer. This also extends to the brand’s social media strategy where the content features eminent personalities.
Raunika states the insight on these collaborations is looking at associations & partnerships that enable showcasing focus towards ‘building a better life’ for people and the planet. "We strongly believe that personalities with a purpose indeed act as a catalyst towards bringing out the narrative and ethos of a brand."
Akshay Kumar, the face of the brand is presented as an inspiration, drawing from his professional graph of transforming into a successful performer and famed name through the modest outset. With Twinkle Khanna appearing in the same frame as him, it also adds a familial value that intends to be relatable for families across the country.
Real Estate Marketing Trends
Here are a few Real Estate Marketing Trends shared by Raunika Malhotra, which are projected to take over the industry:
Data Privacy and User Centricity: Over the last two years, there has been a major change in consumer data collection and usage. These changes can help drive marketing strategies, as companies need to meet the consumer’s expectations to understand their evolving demands and likeness while buying a home.
Podcast: A podcast offers versatility that makes them a potential opportunity for marketers through which consumers can be reached virtually at any time on any topic. Used in multi-channel advertising strategies, podcasts can potentially drive the interest of the homebuyers to visit the projects, build trust and maximize the revenue prospect. It is a growing market in India, and gradually it will become a fundamental mode of communication.
Purpose-Driven Marketing: Purpose-driven marketing aims to create an even deeper connection with the consumers and comprehend their understanding of what counts over the long haul. It is not a new strategy but has recently been more prevalent in response to the consumers' connection with brand values, especially after Covid. Purpose-driven marketing helps planning marketers foster a deeper relationship with the consumers. This strategy is an excellent way to build consumer trust and brand loyalty, especially when the cause is closely related to your company’s core values.
Augmented & Virtual Reality: By leveraging the latest advances in VR and AR technology, real estate developers can now provide potential buyers with immersive & interactive experiences that will allow them to visualize and explore properties in ways that were previously impossible, leading to more informed as well as confident buying and selling decisions.
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