After over six months of degrowth in advertising, the sector is likely to return to the pre-Covid levels on the back of the ongoing Indian Premier League and the upcoming festive season, feels Snehil Gautam, Head, Growth and Marketing at Housing.com.
“It is an important season for many categories; we will see a sizeable jump in adex. This is the time when companies will try and recover the backlog of H1 and loosen their purse strings,” he added.
The brand is spending 60% of its marketing budget in its first-ever IPL spot buys on both TV and Hotstar. Gautam said that with IPL coming after a long gap, the TV viewership is going to jump further.
On why the brand chose to spend heavily on IPL, Gautam said, "Since the brand caters to a wide range of audiences from PG seekers to tenants, buyers, homeowners, property agents, and developers, IPL is the right choice for the brand to reach out to all its stakeholders."
“IPL is followed by the festive season and we feel that our presence in IPL will help us attract serious homebuyers to our platforms. With the main motive to build the audience, such marquee properties, even though expensive, help build the awareness funnel that has long term-effects for Housing.com," he added. The brand is keeping advertising spends limited mostly to TV and digital.
Gautam said TV still takes the bigger pie of its marketing spends. However, its spends on digital are growing at a faster pace.
On when he expects the real estate sector to return to normalcy, he said, "The real estate developers are starting to spend more now on advertising as the transactions are moving upwards and believes that the spends will come back to normal before Diwali."
"Our traffic on Housing.com is 25% higher than the pre-Covid levels. Also on-ground home purchases are slowly inching towards pre-Covid levels,” he added.