| ADVERTISING: Real estate is booming and its effects are visible in spiralling ad spends across different mediums.
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| In 2006-07, real estate has been one of the largest spenders on advertising. Just tune in to any of the radio channels and almost every other ad is likely to be that of a real estate developer.
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| The print media too has been swamped by huge ads selling new townships across the country. Special supplements are being rolled out and, now, TV is getting increasingly popular with realtors.
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| Why, take a look at the figures — the real estate industry saw a 35 per cent jump in advertising spends compared to the previous year. And going by the trend, almost all players have increased their spends and plan to continue their promotional blitzkrieg.
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| While larger players like DLF, Unitech, Parsvnath continue to use print as the main medium for advertising, there is a huge chunk of local players that dominate the advertising pie of the real estate industry.
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| Says Pradeep Jain, chairman, Parsvnath Developers, “The overall industry is seeing a boom and that is what is being reflected in advertising.” Parsvanath, which had a budget of Rs 20 crore in 2006, is expecting to see a jump of close to 60 per cent in 2007. For Parsvnath, the ad spend ratio is dominated by print, followed by outdoor and then TV and radio.
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| The Ansal Group, which also prefers print as its mainstay for advertising, has of late diversified into outdoor advertising. Says Kunal Banerjee, vice president (marketing), Ansal Group, “Apart from traditional mediums, this year we are considering use of the online medium as well.”
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| The Ansals plan to spend Rs 20 crore on advertising this year, which is twice the amount compared to last year. Companies like DLF and Omaxe, too, have seen their ad spends rise and have been using online among other mediums.
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| TV still remains comparatively underutilised, but things look likely to change soon. “Since the other mediums are dominant, TV acts as a reminder for customers.” adds Jain.
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| Radio is preferred for regional or local-centric advertising. And since most big players have gone pan-India, the medium is being utilised by smaller and local players.
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| As of now, the market for real estate advertising stands at about Rs 200 crore (excluding classifieds). “Real estate companies are slowly becoming brands and the need is being felt to carry out a proper brand building exercise,” confirms Banerjee. |
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