STRATEGIC MARKETING UNVEILED: TRANSFORMING REAL
ESTATE VENTURES FOR SUCCESS IN CASE OF 99acres.com
BY
Harshita Singh- 23BSPJP01C143
A report submitted in partial fulfillment of the requirements of
MBA Program of IBS Jaipur
Submitted to
Faculty Guide Company guide
Dr. Kunal Vijay Shivani Katoch
IBS Jaipur Group Manager
Date:7th April 2024
1
AUTHORISATION
The project report titled “Strategic Marketing Unveiled: Transforming Real Estate
Ventures for Success in Case of 99acres.com” is authorized by this. Harshita Singh,
23BSPJP01C143, MBA batch of 2023–2025, IBS Jaipur, completed a unique research
project while working as an intern at 99Acres.com over the summer. The MBA
program at IBS Jaipur has accepted this report as partial fulfilment of its criteria. This
work has not been submitted for valuation or reward to any other university or
organization.
2
ACKNOWLEDGEMENT
I wish to express my sincere thanks and a deep sense of gratitude to my Company
Guide, Shivani Katoch, Group Manager of 99acres.com for encouragement and
valuable guidance pleasantly offered to me throughout the reported work.
I also take this opportunity to thank Dr. Shweta Jain, Dean of the IBS Jaipur, ICFAI
University, and all the faculty of the school for their support and the wisdom imparted
to me throughout the course.
I am extremely grateful to my faculty guide Dr. Kunal Vijay, of the IBS Jaipur, ICFAI
University, for extending the facilities of the school towards our report and for his
unstinting support.
I thank my parents, family, friends, and co-workers for bearing with us throughout our
report and for the opportunity they provided us in undergoing this course in such a
prestigious institution.
3
TABLE OF CONTENT
S no. Particulars Page no.
1 Authorisation
2 Acknowledgement
3 Introduction 5
4 Objective 6
5 Company Highlight 7
6 Vision & Mission 8
7 Competitive Analysis 9
8 Work Assigned & Work Done 10
9 Key Learnings 11
10 Skills Learnt 13
11 Conclusion 14
12 Reference 15
4
INTRODUCTION
Launched in 2005, 99acres.com, India’s No. 1 property portal, deals with every aspect
of the consumers’ needs in the real estate industry. It is an online forum where buyers,
sellers and brokers/agents can exchange information about real estate properties
quickly, effectively and inexpensively. At 99acres.com, you can advertise a property,
search for a property, browse through properties, build your own property microsite,
and keep yourself updated with the latest news and trends making headlines in the
realty sector.
At present, 99acres.com prides itself for having around nine lakh property listings
spanning across 600+ cities in India. Of all, the website held over 5.7 lakh paid listings
at the end of FY 2018-19. In addition to providing an online platform to real estate
developers, brokers and property owners for listing their property for sale, purchase or
rent, 99acres.com offers advertisement stints such as microsites, banners, home page
links and project pages to the clients for better visibility and branding in the market.
5
THE OBJECTIVE OF THE SIP
• To identify the success factors of marketing strategy in real estate business; and
• To analyse the existing marketing strategies of 99acres.com.
• To identify key challenges and opportunities in the real estate market.
• To evaluate the effectiveness of 99acres.com's marketing campaigns in reaching
target audiences.
• To propose recommendations for enhancing 99acres.com's marketing strategies
and improving market penetration.
6
99ACRES - COMPANY HIGHLIGHTS
STARTUP NAME : 99ACRES
HEADQUARTERS : NOIDA, UTTAR PRADESH,
INDIA SECTOR : REAL ESTATE
FOUNDER : SANJEEV BIKHCHANDANI
FOUNDED : 2005
PARENT ORGANIZATION : INFO EDGE
WEBSITE : 99acres.com
Services by 99acres.com
1. Property Listings
2. Property Search
3. Real Estate News and Insights
4. Property Valuation
Overall, 99acres.com serves as a comprehensive one-stop destination for all real
estate needs, providing a seamless and user-friendly experience for property
buyers, sellers, tenants, developers, agents, and other stakeholders in the real
estate ecosystem.
7
VISION & MISSION
Vision-
To create a world-class real-estate platform that transforms lives through
its services.
Mission-
To establish a platform where information can be swiftly, effectively, and
affordably exchanged between buyers, sellers, builders, brokers, and tenants.
99ACRES BUSINESS MODEL & REVENUE MODEL
99acres' business plan is fairly straightforward. Real estate buyers, sellers,
landlords, and tenants may interact on 99acres.com. Real estate brokers, sellers, and
owners may market their properties, upload photos of their homes, and attract renters
and purchasers. On 99acres.com, a certain number of listings are free, but after that
amount is reached, the listing must be paid for.
The main revenue streams for 99acres.com are:
• Property listing charges.
• Subscription fees.
• Charges for marketing real estate properties, new real estate projects on the
99acres.com website.
• Charges for Ads on Website.
• Charges for promoting and featuring builders and dealers on the website.
8
COMPETITIVE ANALYSIS
99acres.com has been in the market for more than 15 years and has been doing
extremely well. Some of the major key factors that people still turn to 99acres are
its Past Track Record and also Quality of Information and Service, level of
Transparency Provided, Increasing rate of Successful Deals, and surely positive
word of mouth. In India, 99acres is present in more than 600 cities. This grants
access to the enormous database and offers a variety of alternatives. As a result,
99acres.com is regarded as one of India's top real estate websites.
99acres' top 11 competitors are Magicbricks, Housing.com, IndiaProperty, Square
Yards, CommonFloor, Makaan, PropTiger, Sulekha, NoBroker, PropertyWala and
NestAway. Together they have raised over 949.1M between their estimated 15.4K
employees. 99acres's revenue is the ranked 6th among its top 10 competitors. The
top 10 competitors average 29.1M. 99acres has 500 employees and is ranked 8th
among its top 10 competitors. The top 10 competitors average 1,324.
9
Work Assigned
• Cultivate strong rapport with high net-worth individuals (HNIs) who are existing
or paid clients of 99acres.com.
• Provide personalized attention and support to enhance client satisfaction and
loyalty.
• Offer dedicated assistance to assigned clients in their quest to identify genuine
buyers for their properties.
• Handle a high volume of incoming and outbound calls from clients, ensuring
prompt and professional communication.
• Act as a liaison between clients and internal teams to facilitate smooth project
execution and ensure client satisfaction.
• Maintain accurate records of client interactions and communications for future
reference and analysis.
Work Done till Now
• Implement personalized engagement strategies to ensure consistent
communication and understanding of clients' evolving needs and preferences.
• Provide dedicated support and guidance to a substantial number of assigned
clients in their quest to connect with genuine buyers for their properties.
• Streamline client interactions by promptly addressing inquiries, requests, and
feedback, while maintaining a courteous and professional demeanor.
• Implement robust call management practices and systems to ensure efficiency,
accuracy, and satisfaction in client communications.
10
KEY LEARNINGS TILL DATE
➢ Week 1 to Week 2 (Introduction and Orientation):
Lead quality management team begins their journey with an insightful overview of
99acres.com's rich history and the breadth of its diverse portfolio. Key milestones
and achievements are highlighted to provide context for the team's role within the
company. Team members gain an understanding of the company's evolution,
including its growth trajectory, market positioning, and strategic initiatives that have
shaped its success.
Managers provide insights into their roles, responsibilities, and expectations from
the quality management team, emphasizing the importance of collaboration and
alignment across teams.
➢ Week 3 to Week 4 (Lead Quality Managers)
Team members organize their workstations and familiarize themselves with the
tools, resources, and systems necessary for their day-to-day responsibilities. Team
members receive comprehensive training on OMNI leads, which encompass meta
responses received through various social media portals such as Facebook,
YouTube, and IRCTC. Team members are immersed in practical exercises and
simulations to gain hands-on experience in handling OMNI leads effectively.
Regular feedback sessions and performance evaluations are conducted to assess
individual progress and address any challenges or concerns. Team members are
encouraged to collaborate and share insights with their peers, fostering a culture of
continuous learning and improvement within the lead quality management team.
11
➢ Week 5 to Week 6 (Transition to Listing Leads):
Lead quality management team members undergo training on listing leads, which
comprise organic leads generated when an interested buyer logs in through OTP
verification. Team members participate in interactive workshops and role-playing
exercises focused on honing their active listening and rebuttal skills. Emphasis is
placed on empathetic communication, understanding client needs and preferences,
and effectively addressing objections or concerns through persuasive rebuttals.
Regular feedback sessions and performance evaluations are conducted to assess
individual progress and provide targeted coaching and development opportunities as
needed.
➢ Week 7 to Week ongoing (WhatsApp Outreach and Evaluation):
Lead quality management team members are briefed on a new pilot initiative to
initiate client outreach via WhatsApp messaging. Team members actively participate
in the execution of the WhatsApp outreach pilot, following established protocols and
guidelines. WhatsApp messaging templates are developed and customized to engage
with clients in a personalized and effective manner. Initial results of the WhatsApp
outreach pilot are evaluated and analyzed by the lead quality management team.
Feedback is solicited from team members regarding their experiences with the new
outreach method, including successes, challenges, and areas for improvement. A
group discussion is facilitated to reflect on the outcomes of the WhatsApp outreach
pilot and identify lessons learned. Pros and cons of the new outreach method are
identified and discussed, along with potential adjustments or modifications for
future iterations.
12
SKILLS LEARNT
• Quality Control: During my internship, I gained knowledge about lead quality
control, specifically how to filter leads by communicating with those who are
generating responses and posing questions about the property.
• Communication skills: During my internship, I had the opportunity to
communicate with a variety of Indian and occasionally NRI clients on a regular
basis, which was a great way for me to improve both my communication and
English abilities.
• Listening abilities: If you work in quality management, you must have the
ability to In order to comprehend the needs of the customer and solely provide
for those, you must first listen to them.
• Teamwork: Because we were working as a team, I was better able to
comprehend how teams operate in the business sector. I learned that achieving
a team goal is crucial in a variety of circumstances, and that doing so will be
made easier if we cooperate.
13
Conclusion
Within the domain of online and telesales, the role of the sales representative
becomes paramount due to the absence of physical interactions. The efficacy of
salespersons in fostering trust, articulating service value, and persuading customers
assumes a pivotal role in steering their purchase decisions. The increasing reliance on
online review platforms as decision-making aids is particularly discernible in the
context of online services like those proffered by 99acres.com. Positive reviews
wield the potential to augment the company's image and expedite the sales process,
whereas unfavourable reviews could potentially act as deterrence. An impeccably
seamless and user-centric experience on the 99acres.com platform is primed to exert
a favorable influence on consumer behavior. Intuitive navigation, expeditious search
functionalities, and informative property listings collectively contribute to the
attraction and retention of customer.
14
REFERENCES
https://www.owler.com/company/99acres/competitors
https://www.99acres.com
15
