Invest-Gate’s first-ever #DigitalWeek kicked off on July 19, coming for local and foreign real estate and technology experts to share their knowledge and exchange expertise, thereby laying out the ins-and-outs of the local property landscape as digital innovation becomes the market’s new hot trend.
Running until June 22, regularly from 1-3 pm (Cairo time), the #DigitalWeek aims to equip participants with the most advanced technological and smart solutions to uplift the current real estate sphere, in a bid to capitalize on the future property development, consumer aspirations, along with the ever-changing market conditions.
On the first day, tech moguls discussed digital business development, aiming to layout to what extent can the property sector rely on digital public relations and marketing tools. Additionally, professionals shed light on the shortfalls and benefits of virtual sales, namely through the utilization of Virtual Reality (VR) and Augmented Reality (AR), in a way that complements the normal sales process.
Moderated by Digital Marketing Director/Managing Partner of Brandbourne Nour El Deen Reda El Serougy, the panel discussion, titled “Digital Business Development,” was crowned by an impressive presentation by CEO of MO4 Adam Mowafi, who dug deep into the digital real estate world to demonstrate the significance of innovation, together with Head of Marketing at Mountain View Sherif Saleh, Co-Founder/CCO of Halan Mohamed Aboulnaga, and Business Development Manager at Aqarmap Ahmed Abdel Fatah. Experts drew special attention to the usage of right and optimum digital marketing strategies to generate a sound brand positioning and marketing mix, hence profit-making.
“Currently, real estate companies can have sales up to 10-15% coming from virtual sales. However, this number can go much higher with the application of proper digital transformation,” Saleh was quoted as saying.
According to the executive, successful digital marketing requires strong awareness, lead generation, and reach. “Key factors to achieve this depends on marketing mix, brand positioning, and medium utilization. When Mountain View was planning to launch the ‘Heartwork’ business park, we studied the target segments, competitors, and market conditions. For business parks, in specific, we bore in mind that 36% of users are from Generation Z, probably hitting 75% by 2025.”
“Moreover, 82% of these people are not happy with their work environment; and thus, this was an important aspect to consider when digitally marketing this particular project,” he elaborated.
Specifically, every piece of content matters when it comes to digital marketing, and delivering quality at the right time to the right audience is fundamental, whereby relevant content is key for a high Return on Investment (ROI), said Mowafi.
“Therefore, smart distribution and placement of content are essential, requiring critical thinking, wise use of all existing data, and fit-for-purpose utilization of digital platforms (i.e. Twitter, Facebook, Instagram, and the like),” the CEO further stated, stressing that companies need to avoid resorting to slogans and demographic marketing as an ideal selling technique.
Along the same lines, Aboulnaga pointed out that digital marketing is a complex and unrestrained field that is not being wisely or properly employed in Egypt, in particular.
On the other hand, Abdel Fatah underscored that Aqarmap has been capitalizing on its digital platform and one-of-a-kind database, therefore managed to virtually sell multiple project phases for property developers through its newly-introduced platform, called “Aqarmap Expo.” Initially, it launched to sell Better Home Group’s “Midtown” compound in the New Administrative Capital (NAC), selling out phase I in nine hours only.
“Lately, Aqarmap put this platform to good use and integrated the third angle to this important triangle: Brokerage firms. Regardless of the initiatives taken to make headway, the digital property sector is still missing an e-platform, a rather holistic one that provides a convenient user experience for home buyers, where deals can be easily and safely sealed online. Accordingly, market players need to move forward to virtually/digitally sell the dream to customers,” Abdel Fatah indicated.
But Halan’s CCO argued that Egypt’s digital business development is far from being effective, affirming that digital marketing success hinges on the ability to market and sell a real estate project as a while, not just part of it.
Aboulnaga explained, “VR and AR can be integrated into real estate expos and exhibitions to create a fully-fledged platform that allows for selling an entire project online.”
Meanwhile, Mountain View’s Saleh drew attention to another aspect of the matter, emphasizing, “In massive project launchings, AR/VR may not be competent in case of clients’ traffic spike. Instead, it would be an optimum solution for off-plan releases.”
Invest-Gate’s #DigitalWeek is being sponsored by Tatweer Misr as the official sponsor as well as Mountain View and KVRD as the #DigitalWeek sponsors, in addition to Nilepreneurs as the strategic partner and Nile University as the learning partner. Better yet, media partners include Cairo 360, Cairo Gossip, and Cairo Talks (Kalam El Qahira).