Project overview
Akshat’s ultra luxury project was priced at a never-seen-before point for the Jaipur audience.
That price point came with several challenges:
- Buyer Awareness: Introducing a Tier-2 city to the concept of never-seen-before pricing of INR 20-25 crore luxury apartments
- Brand & Positioning: Building a brand for the ultra luxury project that captures the price point, attracts customers, and creates a pull effect.
- Marketing & Sales Strategy: Developing a marketing strategy that positions the project as an aspirational buy without diluting the brand value. It also focused on overcoming buyer hesitations for investing in apartments that cost as much as luxury villas.
How Nine Degree addressed it
1. Brand Conceptualisation
Based on the requirements, Nine Degree conceptualised the brand including the name and vision from the scratch. It included the understanding and aspirations of the 1% High Net-worth individuals and families who would invest in these apartments. We also designed subtle, elegant messaging to appeal to the discerning luxury market.
2. Phased Marketing Strategy
A three-phase strategy ensured continuous engagement with the target audience:
- Launch Campaign: Organized a grand invite-only launch event to create buzz, supported by outdoor advertisements in premium Jaipur locations, and strategic print and digital ads targeting affluent readers
- Sustained Engagement: Digital campaigns focused on high-net-worth individuals (HNIs) in Tier 1 cities like Mumbai, Bangalore, and Delhi, as well as international buyers, particularly NRIs and industrialists in the US, the UK, Dubai, and Hong Kong.
- Problem-Specific Campaigns: Addressed buyer hesitations regarding 4BHK units with focused messaging and worked with the architect to enhance the value of the 4 bedroom apartments with tweaks.
3. Focused Digital Marketing
Leveraged the power of digital platforms to create exclusivity and drive targeted leads:
- Focused on Instagram and Facebook for campaigns, avoiding platforms like LinkedIn due to audience mismatch.
- Utilized form-based lead generation to maintain exclusivity, resulting in a high volume of quality inquiries, including leads from the USA.
4. Innovative Influencer Marketing
Leveraged the power of digital platforms to create exclusivity and drive targeted leads:
- Conducted thorough research to identify influencers who matched the project’s luxury ethos.
- Partnered with high-profile influencers to create authentic, compelling content that highlighted the project’s unique features.
- Produced videos with influencers to ensure the messaging remained aligned with the brand vision.
5. Exclusive Visual Content
- Captured the project's essence through professional photography and videography.
- Created detailed, visually appealing marketing collateral to highlight the project’s unmatched luxury and features.
6. Lead Management and Customer Experience
- Implemented an appointment-only lead system, ensuring serious buyers were prioritized.
- Maintained exclusivity by encouraging direct client-buyer connections through personalized follow-ups.
7. Real estate advisory
- Architectural Feedback: Collaborated with architects to align project designs with buyer preferences, suggesting practical changes that not only made the space more functional but also added a premium to the property price.
Impact
50% of the project (INR 900 crore+ inventory) sold out in six months from the inception with multiple leads in the pipeline.
Lead Generation
Over 766 high-quality inquiries with a qualification ratio of over 78%.
Conversion Success
Boosted interest in less-preferred units, addressing sales challenges effectively through marketing campaigns.
Market Reach
Engaged over 2 million people, strengthening the brand reach across multiple platforms, and thereby the aspirational aspect of the project.
Generated 6000 organic traffic for the project by boosting the brand value of the project.
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