In the midst of the current Covid-19 pandemic, the biggest pressure for the real estate business industry has been achieving and maintaining the same performance while carrying out the same tasks. Many real estate practitioners will continue to face these concerns even post-Covid. While relying on offline channels and intermediaries to monitor transactions has always been a customary model in the real estate industry, sales offices had to close and employees were unable to work during the pandemic, causing almost all real estate projects to stagnate. Under this premise, many real estate companies had to choose the transformation line, which in turn, contributed to the advance reform of the real estate industry.
Real Estate Declines
According to data from the National Bureau of Statistics, the real estate industry has been somewhat less than optimistic about the start of 2020. From January to February, the national real estate development investment was 1011.5 billion yuan, a year-on-year decrease of 16.3%; the sales of commercial housing was 820.3 billion yuan, a year-on-year decrease of 35.9% and the sales area of commercial housing was 84.75 million square meters, a year-on-year decrease of 39.9%.
Real estate giants such as Evergrande, Sunac, Jinmao and Country Garden launched online housing sales policies. During the mid-stage of the outbreak, Evergrande took the lead in launching the “National 25% off” online house sales policy, causing an uproar in the industry. The 7 mainstream online media were strong enough to follow suit irrespective of cost, and their substantial results also prompted other major brands to follow with a me-too strategy.
At the same time, the sales promotion work of developers has gradually shifted online, by re-adjusting a large number of promotion strategies accordingly. The major Internet platforms have also become the “wars of war” for real estate companies and how to successfully attract potential customers through effective communication on the Internet has become a compulsory course for real estate companies. Major online media, TV media and even We-Media are also rapidly innovating online products with strong exposure to meet industry needs during these unique times. VR viewings, live sales, small video promotion, and online fights continue to intensify.
Minimising Losses During The Pandemic
How to reduce the losses caused by the pandemic and how to go about completing monetization online have become two hot topics in the housing market. Having been in the real estate industry for many years, Li Lei, general manager of Baidu Xinjia Media Advertising Co., Ltd., a participant and beneficiary of the online real estate, provides his views.
In 2020, Zhongying Black Forest, a real estate project represented by Xinjia, launched Baidu’s knowledge marketing product “Baidu Real Estate Business Card” for new house innovation. When discussing why he chose this brand new product, Li Lei mentioned, “As everyone knows, Since Baidu Encyclopedia was founded, it has always been highly authoritative, and companies always hope that they have positive information, especially authoritative certified content, and many netizens trust Encyclopedia much higher than other products. In addition to the first time, the product of this real estate business card not only reveals long-term information, but also can add Baidu applets, videos, VR, phone one-click dialing, massive pictures, etc., which is a good benefit for enterprises. Each project has an exclusive real estate business card, and I believe buyers will avoid many detours!”
Li Lei also recommended that some cultural tourism and national projects can greatly improve the benchmarking of the project through the long-term online encyclopedia. Brand dividends will gradually emerge.
Promoting Real Estate in China with Mobiblade
As an expert in the Chinese digital market, Tatiana Novikova, Head of Business Development in Asia at Mobiblade, recommends the use of an effective advertising format for Real Estate Business in Baidu in three ways: (1) focusing more on search and Baidu listing (2) paying attention to display that will redirect to a Baidu mini website or WeChat mini program (3) focusing on Open splash format for brand awareness exposure.
Mobiblade is a trusted choice for brands who are looking to broaden their worldwide exposure. If you want to take your business to the next level, partner with Mobiblade and enjoy the synergies.
Register with Mobiblade today and get your unique offer to Advertise on Chinese Digital world.
Disclaimer: All trademarks and logos are registered trademarks and belong to their respective owners. You may not remove, alter, forward, scrape, copy, sell, distribute, retransmit, create derivative works or otherwise make available the Content to third parties without our prior written consent, except as occasionally permitted by any sharing functionality in the Service that expressly allows you to share Content or links to Content with a few other individuals.