BeyondWalls is a digital marketing and growth agency leveraging its resources to drive tangible growth strategies for many real estate developers. Time and again the team of BeyondWalls is tasked with attaining results that may seem out of the ordinary, but its capabilities always come through. Though there are times when a challenging project comes along with interesting targets, which BeyondWalls is always eager to take head on.
One such residential project by Sonigara Group was 57 Midtown in Wakad. It offered a never-seen-before lifestyle statement to its homebuyers. Its concept was unique and the value proposition it added was something to get excited about. #LifeOnTheCurve was the central idea behind the communication, which made the relatability of the project leaner towards the audience.
The project facilitated ease of commute along with recreational avenues and conveniences right at the doorstep. 57 Midtown poised itself as an ideal project for homebuyers with amazing nightlife avenues, fine-dining, shopping, entertainment, and workplaces nearby. An enviable lifestyle in PCMC's most bustling location, 57 Midtown's strategic positioning in the market made it one of most sought-after residential projects in the area.
In this article, we will explore how BeyondWalls was a driver for real estate sales growth and major contributor to 57 Midtown's growth.
Challenges 57 Midtown Faced
Like many residential projects in Wakad, 57 Midtown also had its own set of challenges that needed to be overcome in order to yield higher sales growth and targets. As a real estate marketing agency, BeyondWalls identified and addressed the following challenges:
Designing an inventory that looked premium in an otherwise mid-segment market. The project's ticket size for the units advertised was reasonable yet it was supposed to be marketed as premium in PCMC's growing real estate space via positioning it as a lifestyle statement.
Another challenge that was in front of the BeyondWalls team was to address the issue of the limited supply of large carpet area offered by the project. The challenge was to portray the project as premium one but with smaller carpet area units, which posed an issue in terms of lead conversions where homebuyers were looking for a greater carpet area.
Other significant challenge to be solved was positioning the project as modern yet chic, giving prospective buyers a good experience and market the project with innovative theme to attract luxury buyers.
BeyondWalls' Approach - Project & Pricing Strategy
As per BeyondWalls' plan of action, 57 Midtown was positioned as a whole new product that's centered around downtown living, which extended to fashion and retail avenues nearby making it the most happening place to live in as there is Phoenix Marketcity in proximity.
3 & 4 BHK units were priced around ₹1.15 Cr. to ₹1.7 Cr.
The market average PSF rate of this residential project in Pune was ₹6,300, but with right product planning, the project was positioned at a premium with PSF rate of ₹6,700.
The concept of 'Life on the Curve' was introduced as a central communication in accordance with the building and facade that was designed carefully to keep lesser density in custom two towers.
The architecture was also in sync with the design to make the project stand out more.
BeyondWalls' Solution - Go-to-market Strategy
The campaign was strategically positioned around living in an iconic tower where the homebuyers would get the feeling of living in 'Downtown', hence the project name was coined to be '57 Midtown'.
A visually appealing campaign was designed to attract the luxury buyer segment where the creatives and copy were eye-catching, which invoked the desire to enquire about the project.
With the careful positioning of the project, selling 90 units out of 105 was made possible even without sample flat being ready.
The communication explicitly highlighted the 'CURVE' aspect of the project or the building per say in a creative way. The creatives of the project were also designed in a similar manner to reflect the essence of the core communication for maximum outreach and relatability.
The site visit experience for prospective homebuyers was made more engaging by emphasizing the curves and arches built around the project so that they can relate more and spend more time exploring the project.
Realizing the Efforts & Achievements
A fruitful collaboration between BeyondWalls and 57 Midtown by Sonigara Group resulted in reaching some good milestones, such as:
- Successfully sold 90 units in a month
- Successfully generated revenue worth ₹100 Cr.
- Successfully kept the marketing and sales cost at 3.7%
57 Midtown in Wakad is the epitome of a transformational lifestyle with its 2 & 3 BHK residences consisting of 216 units. BeyondWalls with an extensive channel partner network, its practical strategy and out of the box approach assisted 57 Midtown in achieving its sales targets with a cost-effective method and truly stood out by facilitating #LifeOnTheCurve!