Impact of Digital Marketing on Customer Buying Behavior (Residential Real Estate)

Abstract

The study is to examine the impact of digital marketing on the customer buying behavior and to find out the customers are sensible of digital marketing and the digital channel’s impact on their purchase decision. The study is carried out through checks from 148 respondents and Responses from the client. The rating scale was used to get the respondents\' final results from the questionnaire. The questionnaires were distributed to 180+ and got 148 responses from respondents. The Rate scale will be used to measure a person\'s perception and attitude or opinion. The results are interpreted to show the impact of digital marketing on customer buying behavior. The findings revealed that customers are apprehensive of digital marketing and prefer to book site visits through digital channels in their buying actions. The study is performed in a particular geographical area, particularly residential real estate customers or leads and this may be considered as a limitation to judge the purchase opinion of varied regions. As the world moves towards a digital period, the various digital channels play a vital place in the increase of sales of any company’s products or generating leads for the Business. So, the present study attempted to reveal the impact of digital marketing on customer buying behavior- Residential Real Estate. This result helps us to change the Digital Marketing Strategy plan Developed for the Residential Real Estate (Vue Residences).

Introduction

I. OBJECTIVES OF THE PROJECT

1. To Understand Customer Behaviour towards Residential Real Estate.
2. To Understand the influence of digital marketing channels on “customer buying behavior” towards Residential Real Estate.

II. PURPOSE OF THE PROJECT

1. Understanding Customer’s Perception & Attitude or Opinion.
2. According to the customer’s perception, making changes in digital marketing strategy and generating more Quality Leads.

III. SCOPE OF THE PROJECT

The suggestion from the study is based on the responses given by the customers or leads of Vue Residences. This study will help get an insight into the impact of digital marketing on customer buying decisions.

IV. DATA ANALYSIS AND INTERPRETATION

A. Sample Profile

Out of a total sample of 148 people who responded, 16.7 % were female, and 83.3% were male. A wide majority of respondents were between 31-40 years of age (53.1%) and between 26 and 30 years of age (29.1%). Most of the respondents are highly educated which helps in getting proper responses. The majority of respondents are professionals (75%) (The term professional refers to anyone who earns their living from performing an activity that requires a certain level of education, skill, or training). Almost every person involved in this survey is earning a good amount. Descriptive statistics are displayed in Table 1

Descriptive statistics of the respondents’ demographic characteristics (Frequency tables)

The above graph and table show that digital channels influence customer buying behavior. Among 148 respondents, 54 respondents are agreeing and 77 respondents are neutral and 17 respondents are disagreeing that digital channels change the opinion towards buying decisions.  Mean 2.7 is close to Neutral, so we can say that most of the respondents are Neutral about the Statement.

V. FINDINGS

A. Digital marketing has a greater future in the present market.

B. Ratio of male customers is very high in visiting Vue residences is 83.3%.

C. Income of respondents mainly falls in the range of Rs. 60,000 to Rs. 90,000 that is 40.5% & above 90,000 that is 43.3%.

D. The majority of respondents are professionals (75%) and business people (23.7%).

E. Digital Marketing has a double impact on reaching Customers in this competitive Market.

F. With the help of Digital Marketing, 80.7% of site visitors were attracted to visit the Vue Residences and 19.3% of site visitors were attracted to visit the Vue Residences through Traditional Marketing. So, Digital Marketing has a higher impact on making the Customers visit the site in this competitive Market.

G. 68.7% of customers or site visitors have not brought any real estate property in past. So, the number of customers or site visitors are new to this market.

H. Maximum number of site visitors visit the site through the interest created by the advertisements running on Google, Youtube, Facebook & Instagram platforms.

I. Video ads are more effective than image ads.

J. 86% of respondents consider the Advertisements displayed on their phones.

K. Respondents using the internet mostly to get information and entertainment and also use the internet for chatting, social networking, e-Commerce, and downloading but not much as compared with information and entertainment.

L. Instagram & Facebook is the most rated social media platform by the respondents, followed by YouTube. Twitter is the less-rated social media platform by the respondents.

M. Google is the most-rated Search engine by the respondents, followed by Yahoo and Bing. Firefox is the less-rated Search engine by the respondents.

N. Most of the respondents come across a lot of advertisements while using youtube, followed by Instagram, and Facebook, and there come across fewer advertisements while using Twitter.

O. Majority of the respondents are satisfied with the Specifications and Amenities provided by the Company.

P. Most of the respondents agree with the Statement i.e., informative content should be displayed in advertisements.

Q. Most of the respondents are Neutral about the Statement i.e., digital channels change your opinion toward the buying decisions.

VI. SUGGESTIONS

A. Improve technical advancement in the promotion of Vue residences.

B. Collect and implement the feedback provided by the customer in the right way.

C. Provide a transparent and good service to the customer.

D. Creating more awareness campaigns to reach more people.

E. Complete description needs to provide about the projects on the Vue residences website to the online visitors.

F. Should target more professional and business people.

G. Should concentrate more on video ads in order to attract more site visits.

H. Run more campaigns on Google and Facebook.

I. Should focus on the Ad Copy (content) used for the Advertisements.

Conclusion

This study helps to understand the customer perception towards residential real estate and the targeted audience. Digital marketing methods influence more on customers. It’s very helpful to make changes in the digital marketing strategy developed for Vue residences. Digital marketing plays a vital role in order to promote any business and it has more impact on customer behavior. Every business should go for business marketing in order to promote their business because internet users are increasing day by day, which improved the importance of digital marketing. The look is made in a particular geographical vicinity the outcomes of the look at famous that humans are aware of the virtual channels InSite in their educational qualification, clients use to prefer virtual channels to buy any sought merchandise, not a good deal role of monthly earnings of human beings performs a position deciding on a type product purchase through digital channels.

Copyright

Copyright © 2022 Malloju Madhuyella, Dr Daniel. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.