Tanvir Ahasan Tanmoy, Director-Marketing at Kopotakkho Homes Ltd, elaborates on his proactive marketing strategies, addressing the dynamic trends and challenges shaping the Bangladeshi real estate market.
As Head of Marketing of Kopotakkho Homes Ltd (KHL), how do you ensure the effective execution of the roles and responsibilities of your marketing team?
Ensuring the effective execution of the roles and responsibilities of a marketing team involves several factors. First and foremost, it’s important to have a clear and shared vision of marketing goals and strategies. The vision has to be aligned with business objectives and should be aimed at addressing customer needs. KHL puts customers first, and its marketing team ensures that all strategic decisions are aimed at enriching customer experience.
The marketing team works best when operations are smooth. Therefore, defining the roles and responsibilities of each team member as well as outlining the expectations and performance indicators of each role is crucial. Equally important is establishing a collaborative and communicative culture with the team where feedback, ideas, and best practices are exchanged regularly and openly. At KHL, we are constantly fostering a culture of learning and innovation where the team is always testing, experimenting, and improving its marketing tactics and channels to ensure the customer gets the best experience possible.
Director-Marketing
Kopotakkho Homes Ltd.
What current trends and challenges do you observe in the real estate market in Bangladesh?
The trends and challenges of the real estate market in Bangladesh are a direct result of the significant growth and development the market is experiencing. They are driven by various factors such as customer preferences, local circumstances and underlying macroeconomic factors. Right now, the demand for housing is outpacing supply in many areas leading to rising prices and a lack of affordable options for many buyers. The market value of the real estate sector is BDT 60,000 crore, of which, medium-sized flats (between 1200 and 1400 square feet) have seen a 39% increase in the past five years. Over the next five years, the real estate market is projected to grow another 7.32%.
Dhaka and Chittagong are the two largest cities in the country where the real estate business is booming. However, these cities are also facing challenges such as traffic congestion, pollution and inadequate infrastructure, mitigating which will need a holistic solution. The government has taken some initiatives to boost real estate investment, such as allowing investment of untaxed income, reducing interest rates of home loans, and lowering land transfer taxes and stamp duty fees.
The most crucial way a real estate company can differentiate itself from competitors is by embracing the power of storytelling.
In your experience, what are some effective strategies that real estate marketers can employ to stand out in this competitive industry?
The key to success is effective communication. Real estate companies should utilise as many channels as possible to engage with consumers in a meaningful way. It is important to have a strong online presence by utilising social media platforms, developing a mobile-friendly website, and implementing digital marketing techniques. Marketers should also have a strong network, which they should leverage by building relationships with existing and potential clients, referrals, and partners.
Communication with stakeholders is also a crucial strategy. Hosting events and webinars to showcase properties and share expertise can generate strong leads. To reach a wider audience, real estate companies can also utilise print advertising such as newspapers, magazines, flyers and brochures. These strategies are highly effective for increasing brand awareness.
To ensure that the quality of the properties is portrayed accurately, investing in professional photography and videography can be highly resourceful. This allows marketers to highlight the features and benefits of the premises and create a positive impression.
The most crucial way a real estate company can differentiate itself from competitors is by embracing the power of storytelling. Creating a compelling narrative that showcases the value proposition, vision, and mission of their company and properties can provide a competitive edge in the market.
What are some upcoming KHL projects planned for 2024?
KHL’s strategic vision for 2024 aligns with the evolving marketing trends in the Bangladeshi real estate sector, focusing on a diverse portfolio of residential and commercial projects.
We have ambitious plans to launch a minimum of 15 residential projects, each tailored to cater to distinct segments of the population. A notable aspect of these residential projects is the commitment to providing spacious living spaces. At least 5 residential projects are slated to feature 20 Kathas land (1 Bigha). The remaining projects will consist of plots ranging from 10 to 15 Kathas.
KHL is also introducing 5 commercial projects in strategic locations across Dhaka. Specifically, 2 commercial projects are planned for Tejgaon, a commercial and industrial hub, 1 in Uttara, a rapidly growing residential and commercial area, while Bashundhara and Gulshan will each host one commercial project, tapping into the prosperity and business potential these areas offer.
Photograph: Courtesy of Tanvir Ahasan Tanmoy
