 "Reaching out to GenNext")
While it may still be a few years before online sites become a medium of choice for property purchases, the use of the internet to research property is gaining momentum with consumers relying on it to zero in on the right location and builder to fit their budget.
Currently, the size of the property portal market is around Rs 250 crore, excluding online booking and commissions of brokers. The market is expected to grow at the CAGR of 50 per cent on the back of increased usage of technology and innovative offerings, as tech-savvy start-ups enter the space. Also, the residential segment alone contributes about 80 per cent to the real estate sector and is expected to grow significantly over the next few decades.
At present, however, most people use online portals for renting out properties, research and search for accommodation. Online portal 99acres' new television campaign, maximum rental properties, crafted by JWT Delhi, aims to capture precisely that. With the objective to make search for rental properties a hassle-free experience using the 99acres mobile platform, the ad tries to establish its claim that 99acres.com can provide best rental options in town.
The TVC also has a mobility angle to it to address the accommodation needs of young working professionals. "The TVC is about the 99acres promise and we have also added the mobility angle. Post the campaign, we have seen a 3.5 per cent increase in traffic, which includes both mobile and web as per comscore data," says Singh.
At present, more than 40 per cent of the site's traffic comes from mobile. The percentage of mobile traffic on weekends is much higher than on weekdays. The traffic has increased sharply year on year, especially in the rental segment. This growth in mobile traffic is purely organic, claims the company. "We are very active on search advertising but we don't do much mobile app downloads campaign," says Singh. According to comscore data, 99acres gained three to four per cent marketshare post the campaign.
The present campaign highlights the idea that with more than two lakh rental properties on 99acres.com, one can virtually get a place on rent anytime. "The film is a comical take on life's unpredictable twists and turns. You never really know when the roof over your head might be taken away. But if you have the 99acres.com mobile app, you needn't worry because it gives you instant access to a plethora of properties," says Sundeep Sehgal, associate vice-president, JWT Delhi.
As an online portal focused on real estate needs, 99acres targets the consumer across his life cycle, helping him find a place according to his needs. The customer profile includes first-time buyers, investors, working professions looking for rented accommodation etc.
Singh says, different customer groups have different needs: Investors are looking for price appreciation; for people who have moved into a new city or locality, mapping becomes important. Similarly, a lot of people who are investing in new homes have a lot of question about the credibility of the builder. "But one thing that is common among all the consumer segments is the need for a large selection of properties. The question we asked ourselves was how do we communicate all this? So we picked up some crucial junctures in one's journey that many other people could relate to," she says.
To break through competitive clutter, 99acres has supported the TVC with a 360 degree communication strategy. It started with a large outdoor campaign in a number of cities, just before the TVC launch, which ran for eight weeks. As an enhancement, real 3D metallic keys were hung on billboards in select locations. High footfall malls and chartered buses were also targeted. The TVC was launched on May 23. It is being aired across 37 channels, both national and regional. The portal also ran digital campaigns through Youtube and Facebook, besides taking the commercial on radio.
According to industry estimates, the total budget of the campaign is around Rs 35 to Rs 40 crore.
Currently, the size of the property portal market is around Rs 250 crore, excluding online booking and commissions of brokers. The market is expected to grow at the CAGR of 50 per cent on the back of increased usage of technology and innovative offerings, as tech-savvy start-ups enter the space. Also, the residential segment alone contributes about 80 per cent to the real estate sector and is expected to grow significantly over the next few decades.
At present, however, most people use online portals for renting out properties, research and search for accommodation. Online portal 99acres' new television campaign, maximum rental properties, crafted by JWT Delhi, aims to capture precisely that. With the objective to make search for rental properties a hassle-free experience using the 99acres mobile platform, the ad tries to establish its claim that 99acres.com can provide best rental options in town.
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This is the second leg of the Sab dekh lijiye, phir ghar lijiye campaign launched by the portal last November. After its first television commercial (TVC) launched in 2007, the brand realised the need to go beyond a thematic campaign aimed at creating brand awareness, to focus on the services it offers. The first campaign to take this thought forward was launched last year, which talked about new projects and choices before consumers. The second leg of the campaign was released in May and was conceptualised on the plank of rent. "The idea is that 99acres has a solution for you wherever you are and whenever you need it," says Sumeet Singh, senior vice-president, marketing and corporate communications, Info Edge India, which owns 99acres.
The TVC also has a mobility angle to it to address the accommodation needs of young working professionals. "The TVC is about the 99acres promise and we have also added the mobility angle. Post the campaign, we have seen a 3.5 per cent increase in traffic, which includes both mobile and web as per comscore data," says Singh.
At present, more than 40 per cent of the site's traffic comes from mobile. The percentage of mobile traffic on weekends is much higher than on weekdays. The traffic has increased sharply year on year, especially in the rental segment. This growth in mobile traffic is purely organic, claims the company. "We are very active on search advertising but we don't do much mobile app downloads campaign," says Singh. According to comscore data, 99acres gained three to four per cent marketshare post the campaign.
The present campaign highlights the idea that with more than two lakh rental properties on 99acres.com, one can virtually get a place on rent anytime. "The film is a comical take on life's unpredictable twists and turns. You never really know when the roof over your head might be taken away. But if you have the 99acres.com mobile app, you needn't worry because it gives you instant access to a plethora of properties," says Sundeep Sehgal, associate vice-president, JWT Delhi.
As an online portal focused on real estate needs, 99acres targets the consumer across his life cycle, helping him find a place according to his needs. The customer profile includes first-time buyers, investors, working professions looking for rented accommodation etc.
Singh says, different customer groups have different needs: Investors are looking for price appreciation; for people who have moved into a new city or locality, mapping becomes important. Similarly, a lot of people who are investing in new homes have a lot of question about the credibility of the builder. "But one thing that is common among all the consumer segments is the need for a large selection of properties. The question we asked ourselves was how do we communicate all this? So we picked up some crucial junctures in one's journey that many other people could relate to," she says.
To break through competitive clutter, 99acres has supported the TVC with a 360 degree communication strategy. It started with a large outdoor campaign in a number of cities, just before the TVC launch, which ran for eight weeks. As an enhancement, real 3D metallic keys were hung on billboards in select locations. High footfall malls and chartered buses were also targeted. The TVC was launched on May 23. It is being aired across 37 channels, both national and regional. The portal also ran digital campaigns through Youtube and Facebook, besides taking the commercial on radio.
According to industry estimates, the total budget of the campaign is around Rs 35 to Rs 40 crore.