FazWaz, one of Thailand’s leading Proptech companies and Real Estate Marketplaces has recently announced their proven business model to reduce marketing expenditures by applying Big Data during the sales and marketing planning.
CEO Brennan Campbell said, with our property technology and advisory services we can meticulously plan a lower marketing cost compared to the conventional advisory firms out there. It will not only lower the overall marketing spending but also lowers the commission rates – increasing the profit margins for the developers.
As marketing costs for a standard residential project can account for 4-6% of total sales volume, the new normal of project marketing and transaction services has shifted into a PRO digital environment. Whereby Big Data optimizes the marketing strategies and outcome – resulting in more intent-driven buyers.
Director BD Marciano Birjmohun said “The marketing savings can be applied to reduce the project prices, and consecutively makes that project more competitive” furthermore he adds “Pre COVID a project launch was planned simultaneously in both local and international markets – this absolutely not the case anymore. 2020 onwards Developers have to adapt to a two-phase launch 1. Domestic Market 2. International Markets”.
Mr. Campbell adds “the company applied big data to analyze new developments in Phuket and Koh Samui, eventually resulting in sold-out projects” and Big data can tell us where the consumer demand is the highest? What type of property is preferred? Who is our target demographic? How can I reach these buyers? And when is the right sales momentum? All these fundamental questions are linked to our primary data, enabling us to take cost-effective measures.
FazWaz launched in 2015 and has since then grown into Thailand’s leading real estate marketplace serving global home buyers and investors.