COVID-19 has been an unprecedented event, which has given rise to many dilemmas for businesses. Similarly, Real-Estate companies in Pune are in a dilemma to sell directly or through Channel Partners(CPs) during and after COVID-19 era.
Amidst all these dilemmas, one thing is certain that the future Real-Estate sales would be predominantly through digital channels. And with banks reducing loan rates and the government likely to announce stimuli for the sector, how do we prepare for the next 1-2 years to maximise sales.
We are aware that most Real-Estate companies in Pune are not digital savvy as they have been dependent on digital agencies, and many agencies could not meet commitments, due constraints of Softwares, availability to work from home during COVID-19 phase.
The channel partners are confident that, post-COVID-19 they would be the major players in market and builders should rely on them. At the same time, many channel partners are also trying to become digital savvy, which is the right step forward.
Lead generation & Pillars of Sales
The main point here is what drives sales irrespective of pre or posts COVID-19 era?
A simple answer to it is the lead generation ability of a company.
And what do you think is the right mix of sources for a big company to generate leads. In my opinion in times to come the following pillars(sources) will stand scrutiny for company sales performance.
a. Digital Marketing – 35%
b. conventional marketing –15%
c. Referrals – 25%
d. Channel partners –25%
So the other necessities one must have to cater to the big volume lead generation handling, nurturing and converting to sales are-
a. Pre-sales team
b. In house digital team
c. In house sales team (not outsourced)
d. Active Channel Partners who perform month on month
Having established the pillars for sales, now we can argue if anyone pillar does not perform as per intended target/ expectation, entire sales will not collapse.
Let us take an example between companies relying totally on one pillar suppose channel partners or referrals and intended results are not forthcoming or the other competitor hikes the commission or referral fee, then entire sale collapses and you have no contingency left to recover the situation. However, had we given equal weightage to all four pillars of sales and skilled/seasoned them accordingly, even if one or two pillars do not perform in a particular period for any reasons the other two pillars will pull up the sales.
Pune Real Estate Market Uniqueness
Pune is a unique market. We have real estate companies which sells through their own sales team and other companies sell 100% through Channel partners, few companies use both for selling. Recently one Realtor from Delhi, who is entering Pune market very soon, enquired from me is Pune predominantly a direct sales market or Channel Partners market. My answer to him was channel partners are important pillars for sales in Pune, but they are not the only pillar. The biggest risk to depend on a single pillar is, it can take you for granted and you may be hostage to its needs /demands at a later date.
Success Copy Formula
I would also like to caution, generally the moment in a competitive market a builder gets success. Others start copying the same campaign model. Well its a known thing in management parlance, your best competitor is yourself. Do a market study, evaluate and plan. Do not copy anyone, it may not work for you.
COVID-19 has set the stage rolling, customer satisfaction/engagement, would not be a physical but digital presentation of sales pitch and closures. So like it or not very soon, you may find homes being sold on the e-commerce platform too.
Therefore prepare for the digital era never experienced before. We also need to strengthen all four pillars of sales digitally, so that customers are virtual with us- anytime, anywhere and buys at a click of a button.
All the best Pune Builders and Developers.