Housing.com to spend up to $7 mn on ads this fiscal

Realty portal Housing.com plans to spend up to USD 7 million on advertisements this fiscal as it looks to strengthen its brand equity.

Softbank-backed company, which today announced the launch of its first ever TV campaign, will be releasing a slew of ads on electronic, digital and social media platforms targetting consumers in the age range of 25-40.

"We have just launched the first ever television ad to strengthen our brand and establish deeper emotional connect with our consumers. We are looking at a marketing spend of USD 5-7 million in 2016-17 for advertisements on TV, digital and social media," Housing.com CMO Nikhil Rungta told PTI.

The first ever TV campaign would be launched during this IPL. The media outreach will include channels across GECs, Sports, News, Movies and Regional. The campaign will also be amplified across online, social and mobile platforms.

"Housing.com has always gone that extra mile to transform home buying from a stressful process, to one full of ease. We believe that with this ad, our connect with the target group will get stronger, confirming our commitment to being the most trusted platform to buy and sell homes in the country," he said.

Earlier this week, Housing.com announced that former business head of 99Acres.com Vineet Singh has invested in the company. The amount invested was, however, not disclosed.

Singh will closely work with the Housing.com management team in a senior advisory role.

In January, Japan-based SoftBank invested an additional Rs 100 crore in Housing.com to drive the growth of the realty portal.

Founded in 2012, Housing.com is India's leading online real estate platform with 1.7 million verified homes listed to date, and an unparalleled online user experience.

The portal has raised so far over USD 100 million in capital from leading investors, including SoftBank, Nexus Ventures, Falcon Edge and Helion Ventures.