CXOToday has engaged in an exclusive interview with Pushpamitra Das, Founder and Director JUSTO
- In terms of Interpreting Consumer demands and market Trends, how data analytics help JUSTO?
At Justo, our business decisions are taken using the help of data, data analysis and data insights to arrive at solutions. Data analytics provides us with actionable insights and this enables us to stay ahead in the competitive real estate market. Needless to say, we use both primary as well as secondary research. We use analytics across a range of parameters for understanding market trends, and consumer needs and identifying emerging market. Here’s how it helps:
Understanding Consumer Needs
- Customer Profiles: Data analytics allows JUSTO to segment customers based on demographics, preferences, and buying behaviour, creating detailed profiles of potential buyers or renters.
- Behavioural Patterns: Analyzing search data, inquiries, and online interactions helps identify preferences for property type, location, budget, and amenities.
- Predictive Insights: Historical data trends can predict future demands, enabling JUSTO to anticipate customer requirements.
Identifying Market Trends
- Dynamic Pricing: Analytics helps monitor property price trends in various neighborhoods, allowing for optimized and competitive pricing.
- High-Demand Areas: Search and transaction data pinpoint areas with rising demand, highlighting investment opportunities.
Optimizing Marketing Efforts
- Targeted Campaigns: With data-driven insights, JUSTO can design personalized marketing strategies that resonate with specific customer segments.
- Campaign Effectiveness: Metrics like click-through rates and conversion rates help refine marketing campaigns for better results.
Enhancing Customer Experience
- Personalized Recommendations: Advanced analytics powers recommendation engines to suggest properties tailored to individual preferences.
- Feedback Analysis: Insights from customer reviews and interactions help identify and address pain points.
- Proactive Engagement: Data-driven predictions enable timely follow-ups and engagement based on customer behavior.
Forecasting and Decision Making
- Market Forecasting: Analytics helps forecast property value trends and emerging demand, guiding both buyers and internal strategies.
- Risk Assessment: Identifying risks, such as declining demand in specific areas, helps mitigate potential losses..
- Elaborate some Digital tools boosting the marketing and Sales plans that can be used for justo
Digital tools can significantly enhance JUSTO’s marketing and sales strategies by improving efficiency, personalization, and reach. Here’s a detailed look at tools that can propel JUSTO’s growth in real estate:
Digital Advertising Platforms
Examples: LinkedIn, Google, Instagram and Facebook Ads.
How They Help:
- Target specific demographics, locations, and interests with highly personalized ads.
- Use retargeting features to re-engage users who showed interest in properties.
- Analyze click-through rates, conversions, and campaign success to optimize ad spending.
Impact on JUSTO:
- Drives more traffic to listings, boosts visibility of properties, and increases inquiries.
Marketing Automation Tools
Examples: Mailchimp, ActiveCampaign, Marketo
How They Help:
- Automate email campaigns to promote new listings, offers, or updates.
- Personalize communication based on user preferences and behavior.
- Schedule and manage multi-channel campaigns seamlessly.
Impact on JUSTO:
- Improvised lead conversion rate and customer satisfaction.
Analytics and Reporting Tools
Examples: Google Analytics, Tableau, Power BI
How They Help:
- Monitor online traffic, user activity, and campaign effectiveness.
- Identify high-performing properties and optimize listing strategies.
- Keep them updated with market trends and consumer preferences.
Impact on JUSTO:
- Empowers data-driven decisions, improving ROI on marketing and sales efforts.
Lead Generation and Engagement Tools
Examples: Drift, Intercom, ChatGPT-powered chatbots
How They Help:
- Automate real-time responses to customer inquiries on websites or apps.
- Qualify leads by collecting relevant information through forms or chat interactions.
- Guide users to suitable properties based on their preferences.
Content Marketing and SEO Tools
Examples: SEMrush, Yoast SEO, Grammarly
How They Help:
- Optimize property listings and blog content for search engines to improve visibility.
- Analyze keyword performance to tailor content to user search behavior.
- Maintain consistent, high-quality content with grammar and style checks.
Impact on JUSTO:
- Generates organic traffic to listings, builds authority, and attracts prospective buyers searching for properties.
Video Marketing Platforms
Examples: YouTube, Vimeo, Canva Video
How They Help:
- Showcase property walkthroughs, testimonials, or area highlights through engaging videos.
- Use analytics to measure viewer engagement and optimize content.
- Leverage YouTube ads for targeted audience outreach.
Impact on JUSTO:
- Enhances storytelling, captures interest, and drives engagement with prospective buyers.
- How Does Company Intend to adjust to changing real estate market? How Justo has adapted any?
At Justo, we are dedicated to adapting to the ever-changing real estate landscape. Our strategies for addressing these shifts include:
- Leveraging tools such as virtual tours, 3D property visualizations, and AI-driven chatbots to meet the growing demand for online real estate solutions and ensure a seamless customer experience.
- Utilizing advanced analytics to interpret market trends, predict consumer demands, and tailor our offerings to stay ahead of the curve.
- Actively partnering with developers who prioritize energy-efficient and eco-friendly designs, aligning with the increasing preference for sustainable living.
- Incorporating modern features such as co-working spaces and community living options to cater to the evolving needs of today’s buyers and renters.
We have proactively taken steps to remain competitive and relevant in a dynamic market:
- Justo has expanded offerings in emerging locations, targeting areas with rising demand and growth potential.
- We now provide additional services, including financing options and property management, to deliver a comprehensive experience for our clients.
- Staying updated on real estate regulations, such as RERA compliance, GST reforms, and stamp duty changes, ensures that we operate within legal frameworks while protecting customer interests.
- We’ve diversified our property offerings by including commercial spaces to cater to a broader range of market demands.
- At Justo, adaptability and innovation remain at the core of how we navigate the real estate industry, ensuring we continue to deliver value to our customers and partners.
- How would you describe Realfintech industry’s evolution in the last decade?
The past decade has witnessed a remarkable evolution in the Realfintech industry, driven by technological advancements, changing consumer preferences, and regulatory shifts. Here’s a breakdown of key trends:
Digitization of Real Estate Transactions:
- Online Property Portals: Websites and apps offering comprehensive listings, virtual tours, and property information have become commonplace.
- Blockchain Technology: This emerging technology offers secure and transparent property records, facilitating faster and more efficient transactions.
Rise of Proptech:
- AI and Machine Learning: Algorithms analyze vast amounts of data to provide personalized recommendations, property valuations, and market insights.
- Virtual and Augmented Reality: Immersive experiences allow potential buyers to virtually tour properties, boosting engagement and decision-making.
Regulatory Support and Innovation:
- Government Initiatives: Many governments have introduced policies to promote digitalization in the real estate sector.
Focus on Customer Experience:
- Personalized Services: Realfintech companies prioritize customer needs, offering tailored solutions and support.
- Omnichannel Engagement: Seamless experiences across various channels, including online and offline, enhance customer satisfaction.
- Introducing AR and VR in real Estate, what challenges you come across using these technology?
While AR and VR offer immense potential in the real estate industry, there are several challenges to consider when implementing these technologies:
Technological Challenges:
- High Cost: Developing high-quality AR and VR experiences requires significant investment in hardware, software, and specialized expertise.
- Technical Complexity: Creating immersive and realistic experiences demands a deep understanding of 3D modeling, game engines, and real-time rendering techniques.
- Device Compatibility: Ensuring seamless experiences across different devices and platforms can be challenging, especially with evolving technologies.
- Network Requirements: High-quality AR and VR experiences often require stable and high-speed internet connections, which may not be available in all locations.
User Experience Challenges:
- Learning Curve: Users may need time to adapt to the new technology and learn how to navigate virtual environments.
- Realism and Accuracy: Creating accurate and realistic virtual representations of properties can be challenging, especially for complex architectural designs.
Business Challenges:
- Updates and Maintenance: Constant updates and maintenance are necessary to keep AR and VR experiences current and applicable.
- Data Privacy and Security: Handling sensitive user data, such as personal information and location data, requires robust security measures.
- Regulatory Compliance: Adhering to data privacy regulations and industry standards is essential.
- What practices are practiced in process of protecting sensitive consumer data and dealing with the escalating cybersecurity threats?
To protect sensitive consumer data and combat escalating cybersecurity threats, organizations employ a multifaceted approach that involves various practices:
Data Protection Practices:
- Data Encryption: Encrypt sensitive data at rest and in transit to prevent interceptions and ensure privacy.
- Access Controls: Implement strong access controls to limit who can access sensitive data and what they can do with it.
- Frequent Security Audits: Security audits should be conducted on a regular basis to identify vulnerabilities and faults.
- Employee Training: Train employees on cybersecurity best practices, including recognizing phishing attempts and avoiding social engineering attacks.
- Incident Response Plan: Have a well-defined incident response plan in place to respond effectively to security breaches.
Cybersecurity Practices:
- Network Security: Implement firewalls, intrusion detection, and prevention technologies to safeguard network infrastructure.
- Endpoint Security: Implement antivirus, antimalware, and endpoint detection and response (EDR) solutions to secure devices.
- Web Application Firewalls (WAFs): Use WAFs to protect web applications from attacks like SQL injection and cross-site scripting (XSS).
- Patch Management: Install the most recent security patches to systems and software to fix vulnerabilities..
- Backup and Recovery: Regularly back up critical data and test recovery procedures to minimize data loss in case of a breach.11
- Security Awareness Training: To prevent human errors, educate employees about cybersecurity threats and best practices.
- Third-Party Risk Management: Involves assessing and managing security risks for vendors and partners.
- What is the Justo’s Differentiator among other real estate platforms that differentiates value propositions and client service ?
Justo stands apart in the real estate sector with its Design-to-Delivery model, offering a comprehensive suite of services that seamlessly integrates every stage of the real estate journey.
Key Differentiators
- From strategy and marketing to sales and CRM, we provide end-to-end solutions tailored to the unique needs of each project.
- Expertise in capital markets and home loans ensures financial flexibility and support for clients.
- Successfully built and nurtured multiple real estate brands across Mumbai and Pune, establishing a legacy of trust and excellence.
- Our model is designed to add value at every stage, delivering tailored solutions that enhance project visibility, improve sales efficiency, and maximize ROI.
- Leveraging platforms like JustoVerse for operations and JustoWorks for financial processes ensures efficiency and transparency in all transactions.
- Views on Blockchain Technology to improve property transactions’ security, trust, and transparency?
Blockchain technology offers transformative potential for enhancing the security, trust, and transparency of property transactions in a professional context:
Security
- Immutable Records: The distributed ledger ensures transaction records are tamper-proof, significantly reducing the risk of fraud and data manipulation.
- Secure Data Storage: Ownership details and transaction histories are securely maintained, protecting against unauthorized access and cyber threats.
- Smart Contract Automation: Automating transaction processes through smart contracts minimizes human intervention, reducing errors and potential fraud.
Trust
- Transparency: Blockchain’s public ledger provides all stakeholders with access to verifiable transaction histories, fostering confidence in the process.
- Efficient Processes: Digitization eliminates the need for extensive paperwork, reducing delays and errors while ensuring accuracy.
- Decentralized System: By removing reliance on central authorities, blockchain mitigates risks associated with corruption or manipulation.
Transparency
- Real-time Insights: Stakeholders gain real-time visibility into ownership and transaction status, ensuring accountability
- Simplified Auditing: The ledger’s transparency facilitates seamless auditing and compliance with regulatory standards, reducing disputes.
- Fraud Mitigation: Blockchain’s immutable and transparent nature significantly reduces opportunities for fraudulent activities like identity theft or title fraud.
Additional Benefits
- Accelerated Transactions: Automation and reduced manual intervention streamline the transaction timeline.
- Cost Efficiency: By minimizing intermediaries and redundant processes, blockchain lowers transaction costs.
- Broader Accessibility: Simplified processes reduce barriers, making property ownership and investments more accessible to diverse demographics.
- How does Justo use Technology to improve client satisfaction and expedite real estate transactions?
At Justo, we have integrated Our technology platforms
- JustoVerse for Operations:
- JustoWorks for Finance:
Currently operational in Mumbai and Pune. As we gather more insights over the next 2-3 months, we aim to further refine and expand our technology solutions to provide even greater value to our clients. By combining technology with our expertise, Justo is committed to redefining the real estate experience for buyers, sellers, and investors alike.
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