Young Project Leaders - 2020 Project Management Institute Interview
Rituraj Abhishek Final Project M1
1. Industry Internship Project
2015 – 17 Batch
FUTURE OF COMMMERCIAL SPACES IN INDIA
Submitted by:
Name of the Student: RITURAJ ABHISHEK
Roll No. : PGDM 151701059
Program : PGDM (Marketing)
Batch : 2015-2017
Name of the Faculty Guide : Tamanna Shah
Name of the Company : Mobiation Software Services Pvt. Ltd
Name of the Company Guide : Mr. Kiran Kumar Mandhadi
Company Guide Designation : Co - Founder
Institute for Technology and Management
Plot No. 25 / 26, Institutional Area Sector – 4, Kharghar, Navi Mumbai
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ACKNOWLEDGEMENT
At the outset, I would like to thank Mobiation Software Services Pvt. Ltd. to allow me an
opportunity to do the project in the organization. This summer internship provided me with a
platform where I could apply my knowledge gained during the course of PGDM, and such a
stint has definitely widened my horizon to a new industry.
I would like to thank my co -founder, Mr. Kiran Kumar Mandhadi, for helping me out
throughout the project at various junctures. His gesture of taking out his valuable time for me
almost daily, and staying in touch through phone calls on weekends always made me
appreciate the importance of the project I am doing, and was motivated to work hard.
Last but not the least, the importance of peer to peer learning can’t be ignored; and in this
regard I am grateful to my co-interns from various other premier B-Schools for the lengthy
and fruitful discussions during coffee breaks and otherwise.
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TABLE OF CONTENTS
SL.
No.
Topic Page
No.
Executive Summary 6
1 Chapter-1 Introduction to Real Estate Industry 7
1.1 Commercial Spaces 9
1.2 Problem on hand 10
1.3 Importance and scope of problem 11
1.4 Project Title 12
1.5 Modus Operanding of the project 13
2 Chapter 2 Details of the Organization 14
2.1 Overview of the company 14
2.2 The Organization 16
2.2.1 Products 16
2.2.2 Processes and Facilities 18
2.2.3 Organization Structure 22
2.3 How startups can be benefitted through FindSpace 23
3 Chapter3 Tasks Performed 25
3.1 Choice of Techniques utilized 25
3.2 Interpretations And Outcomes of Analysis 28
3.3 General Observations 30
4 Chapter 4 Conclusions 31
4.1 Summary 31
4.2 Gains of the study 32
4.3 Limitations 33
5 Chapter 5 Recommendations 34
6 Bibliography 35
4. 4
CERTIFICATE
TO WHOM SO EVER IT IS CONCERNED
This is to certify that Rituraj Abhishek, a student of ITM Business School, had successfully
completed his summer internship programme titled “FUTURE OF COMMERCIAL
SPACES” with Mobiation Software Services Pvt. Ltd under the guidance of
Mr. Kiran Kumar Mandhadi (Co- Founder). His internship programme was of duration
From 2nd
May 2016 to 2nd
September 2016. During this period his involvement with his
project is found outstanding and his conduct was also very good.
We wish him good luck for his future endeavor.
Signature of guide
Name: Mr. Kiran Kumar Mandhadi
Designation: Co-Founder
Address: First Floor, 355 14th
B Cross Road, Sector-6 HSR Layout
Bengaluru -560102
Date: 30/08/2016
Place: Bengaluru
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EXECUTIVE SUMMARY
The 4 months Industrial Internship Project is designed to undergo the rigor of professional
environment both in form and substance. It provides platform to take up the training and to
develop the skills which will be useful in enhancing my career prospects. The company for
which I have done my project is “Mobiation Software Services Pvt. Ltd”.
The main objective of this project is to increase the brand awareness of FindSpace by
effectively utilizing Digital Marketing and making a strong online presence in all social
media platforms. Moreover to create awareness about commercial spaces and how
FindSpace can help them to book commercial space.
This Project also aims to bring awareness about commercial spaces and how they will be
booming in coming years. Due to huge investments involvement developers are not keen to
put money on commercial spaces. But the year 2016 and coming years is very prosperous for
these spaces. Moreover Digital marketing will play major role in promoting these type of
spaces as now future is of digital marketing. On average, 60% of a marketers' time is
devoted to digital marketing activities, fueling demand for digital marketing skills.
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CHAPTER 1: INTRODUCTION
1.1 INTRODUCTION
INDIAN REAL ESTATE INDUSTRY
The real estate sector is one of the most globally recognized sectors. In India, real estate is
the second largest employer after agriculture and is slated to grow at 30 per cent over the
next decade.
The Indian real estate market has become one of the most preferred destinations in the Asia
Pacific# as overseas funds accounted for more than 50 per cent of all investment activity in
India in 2014, compared with just 26 per cent in 2013.
The real estate sector comprises four sub sectors - housing, retail, hospitality, and
commercial. The growth of this sector is well complemented by the growth of the corporate
environment and the demand for office space as well as urban and semi-urban
accommodations.
The construction industry ranks third among the 14 major sectors in terms of direct, indirect
and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in
both the short term and the long term. Bengaluru is expected to be the most favored property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.
As per IBEF (India Brand Equity Foundation) it is estimated that
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COMMERCIAL SPACES
The commercial office space in India has evolved significantly in the past 10 years due to
change in business environment. The growth of commercial real estate has been driven
largely by service sectors, especially IT-ITeS. Previously commercial properties were
concentrated towards CBD (Central Business District) areas in large cities. However, with
the emergence of IT-ITeS, which had huge office space requirement, commercial
development started moving towards city suburbs. It resulted in multifold development of
city outskirts and suburbs like Gurgaon near New Delhi, Bandra and Malad in Mumbai, and
the Electronic city in Bengaluru.
In addition, over the last 10 years, locations such as Bengaluru, Gurgaon, Hyderabad,
Chennai, Kolkata and Pune have established themselves as emerging destinations for
commercial development, which are competing with traditional business destinations such as
Mumbai and Delhi. Tax sops on the profits of IT-ITeS companies also led to stupendous
development of IT Parks and SEZs. Demand for office space is directly linked to addition in
number of employees, which in turn is dependent on economic growth. When economy
slows down, companies hold their expansion plans leading to lower demand for office space.
The demand for commercial real estate was on an upswing between 2005 and early 2008,
driven by exceptionally high employee additions in the IT/ITeS sector. The strong demand
from domestic IT/ITeS companies and captives of large global players was a result of
increased business, primarily from the US and European markets. A healthy domestic
economy coupled with aggressive corporate expansion plans led to strong demand from
sectors such as Banking, Financial Services and Insurance (BFSI) and media and
entertainment. Furthermore, limited supply of quality office space led to a sharp increase in
lease rentals for commercial office space in most micro-markets.
With an average increase of 108 per cent between 2005 and early 2008, according to CRISIL
Research.
CRISIL Research has estimated supply of office space at around 172 million square feet in
10 major cities (Mumbai NCR, Bengaluru, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad,
Chandigarh and Kochi) during 2009-11. Expected demand during the same period is 70
million square feet Supply in the top 10 cities account for approximately 70-75 percent of
total office space supply in the country.
As per The Financial Express it is estimated that
India’s office space absorption during 2015 stood at 35 million square feet –the second
highest figure in country’s history after 2011. While Pan India vacancy still stands at 16%,
realistic vacancy actually stands around 8-9%- the total vacant supply is not always relevant
for corporate occupiers. Rents rose across Indian cities in 2015
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1.2 PROBLEM ON HAND
The problem on hand was to make people aware of renting commercial spaces through
FindSpace. In a city like Bengaluru it has ample scope of renting commercial office
spaces. As it’s a city of startups so many startups require office spaces for their initial
beginning and we try to provide them the best solution with affordable price with no
lease and other tantrums associated with renting a space.
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1.3 IMPORTANCE AND SCOPE OF PROBLEM
Bengaluru is a big territory and is constantly growing. Any company would like to capitalize
in such market. After finding out the reasons why people are not willing to take commercial
spaces. The major problems associated with renting out commercial spaces are
Are the purchaser and the seller equally aware of any existing or probable
environmental matters or problems that are (or could eventually be) associated with
the property?
How is the purchaser planning to obtain financing for the commercial property at
hand?
Does the buyer have a choice of entity regarding taking title to the property?
Are there title matters to be considered? Can a good and marketable property title be
delivered to the buyer free and clear of mortgages, liens, etc.?
By this project I would try to increase the trust among consumers for our brand
FindSpace and how they can benefit from them.
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1.4 OBJECTIVE:
1.4.1 PROJECT TITLE: Future of Commercial Spaces and Problems Associated With
Renting Out a Commercial Space
Location- Bengaluru
The main objective of this project is to help out consumers for booking a commercial space.
This activity also helps to find out the competitors weakness and strength, so that some
strategy could be build how to pitch in the market and also what are the changes required for
improvement. The secondary Objective is to find out what else can be done to gain trust of
consumers so that will help in near future.
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1.5 MODUS OPERANDI OF THE PROJECT:
Future of Commercial Spaces and problems in renting out commercial spaces
As purpose of the project is to find out the problems people face while renting any
commercial space and after getting the reasons I have to work accordingly with
different strategies. So first step was to understand the market of real estate industry. I
studied through various portals like moneycontrol.com, ibef.org etc. and got to know
about the subject matter.
FindSpace will be able to help customers to know about the prices and trends of
commercial spaces. We are having our unique products like Festimate to tell the price
of per square feet. Now they don’t need to depend upon brokers. I thought of using
Digital Marketing as the best mode of marketing of our product and services. Be it
Facebook, twitter, LinkedIn. I left no stone unturned and was using massively
Facebook to promote our product and services through adverts, postings, pages etc.
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CHAPTER.2: DETAILS OF THE ORGANIZATION
2.1 OVERVIEW OF THE COMPANY:
FindSpace for Business Services:
Every successful business needs a perfect space! A space to provide sweet and inviting home
for employees, clients, customers and yourself. Finding these spaces along with reduced real
estate risk, saving money, improving productivity, and also set the foundation for continued
success is very hard.
That’s why we help corporate and business leaders change their perspective by looking at the
true cost of occupancy, rather than just the cost of space. We provide an end-to-end solution
for businesses to find, identify and gather meaningful data to suit their criteria.
We specifically design our processes to meet the unique needs of our commercial real estate
clients, our comprehensive real estate management team is both resourceful and helpful in
getting those hard to access spaces and deliver the expectations.
HOW YOU CAN BENEFIT USING FindSpace:
Brands can use our expertise in commercial real estate to get that perfect space for your
business, test new markets and boost their marketing campaigns. We are revolutionizing the
real estate industry for businesses.
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For Promotions
Easily find any commercial or advertising space
Increase brand awareness through planned marketing campaigns
Rent out places where you get the most visibility.
We will help you in choosing the best location to target your customers
For Sales
Find that perfect place on our marketplace.
Build Brand awareness and reach out to more customers.
Get those hard to access spaces in prominent locations.
FindSpace advantage, hassle free transaction and support.
MISSION:
To create innovative technology products that opens up new market space and demand by
embracing disruptive innovation.
VISION:
To be an impactful and socially responsible company facilitating at least one billion users by
the year 2020.
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2.2 THE ORGANIZATION
2.2.1 PRODUCTS:
SHORT TERM RENTALS:
Short term rentals are used to promote, occupy or even sell products in new market. You can
rent a space in any locality to reach out to your customers or even have a workplace for short
duration.
Short term Commercial Rentals are becoming more and more popular nowadays, because of
the perks that come along with them. Although, every business understands that getting a
right space at the right time is very important, very few are lucky to have that opportunity
because of unavailability, difficultly in accessing spaces, unrealistic terms or even unreliable
sources.
Are you craving to test a market or trying to reach out to new customers? If getting the
perfect space to try these is stopping you from getting the balls rolling, we have the perfect
solution that can help you reach new markets, customers, better environment and with
affordable options. Moreover, the best part is there is no lease and no security deposit.
Some of the short term rentals include Office Space, Shared Space, Retail Space, Kiosk
Space, Marketing Space, etc.
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COMMERCIALOFFICE/RETAIL SPACES:
Moving into a commercial property on rent for business is a very difficult. There are times
when your business is thriving, you need to start your business or need increased office or
retail space to cope with your prosperity and you find yourself on the threshold of taking a
decision on where and which one to choose.
Renting a space that suits you, your employees and clients is one of the toughest challenges
faced by almost all the businesses today. Even though everyone understands how important it
is to get the right space, at right time and in the right location, most of the businesses
compromise in renting the right one because of unavailability, accessibility and complicated
leases. So, we at FindSpace thrive to provide the best solutions for brands to find that perfect
commercial space. We believe in professionalism and transparency which others lack.
The types of commercial spaces with regular leases we can provide includes Office Space,
Retail Space, Tech Park Space, Mall Space, Permanent Kiosks, etc.
EVENT SPACES:
People buy from people and exhibitions/events/flea markets provide businesses with a
unique marketing advantage - the opportunity to meet, connect and build rapport with
prospects and customers.
Events can be seen as a big investment, particularly by small businesses, but by investing in
short term rentals, you can reap the benefits in the long term, turning the leads collected at an
event into loyal customers.
If you're ready to stir things up and bring in new customers to your local business, there's no
better way than participating in local events. Whether you hold a grand re-opening, debut a
new product, have a storewide sale, host a charity event, or just throw a garage sales,
participating in events increases your brand visibility and brings in lots of foot traffic.
The types of marketing spaces that a brand can rent out in events are Stalls, Banner Space,
Advertising Space, Marketing Space, Flyers & Visitor Card distribution.
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2.2.2 PROCESSES AND FACILITIES:
LIST YOUR SPACE:
List your space to renters that are eager to build amazing experiences in your space. It takes
only few minutes to list your space with us. We take high quality pictures and a video of
your space for a better visual experiences.
How much should I rent out?
No amount of space is too small or too big .You can offer entire space or Rackspace or wall
space or floor space in a section of your store or outside area during or after your regular
business hours or on your holidays. One can also rent space for temporary kiosks or booths.
Renters need a place to promote and sell their goods.
Who is Renting?
Large and upcoming brands are actively looking to rent commercial spaces on short term
basis ranging from one day to one year. Short term rentals give them a low risk to gain
market exposure and sales. Big online only e commerce retailers are also coming offline for
testing local markets and customer discovery.
Convert footfalls to sales
Hosting your space for short term rentals will give both you and renter’s better visibility and
footfall. Ability to draw more people in will make the property more accessible. For an
empty space having an occupant now could ultimately lead to more demand.
FindSpace will market your listing to companies that meet ones criteria. For e.g. A renter
selling bread in a restaurant space is a big no no. Your Space will not be listed for rent to
business categories backlisted by you.
How does pricing work?
You know your space best. You are in control of setting the rental price, hours, minimum no
of days and available space. Competitive pricing will bring more renters and repeat renters to
your space.
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Payments:
You will be immediately informed about the booking details on your phone and email.
FindSpace has fully integrated online payment through PayUMoney platforms. Payments
will be transferred securely online direct to your bank account
Blackout Dates:
You can specify the days that your space will not be available for renting. To avoid duplicate
bookings FindSpace will block the dates of all the bookings done through us.
FindSpace Advantage:
We are the first and only marketplace in India connecting renters and commercial space
owners for short term rental. FindSpace is the place for renters to discover your space. We
make sure that your experience is fabulous that you would want to do it again
Neutral Property:
Few Space owners require renters to pay a refundable security deposit. We act as a neutral
part and hold the security deposit for you. Security deposit will be refunded to renter’s bank
account promptly at the end of the rental
Hassle free:
We convey the details about the space to the renter such as what is included in rental
splitting up utility costs, garbage collection, extent to which a renter can control the space
etc.
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FindSpace Broker Partnership Program:
FindSpace is looking for independent brokers interested in tying up, to provide an
uninterrupted and professional service for people in need of commercial spaces. We believe
that an allied partnership between us will help both of us gain a better value in commercial
real estate.
Working in new ways and bridging traditional boundaries is, however, extremely challenging
and often falls far short of the high expectations of all those involved
FindSpace Broker Partnership program offers a supporting and strengthening partnerships
through innovative and skilled management for brokers, where both can find mutual
advantage by either finding a space for your tenant or referring a client a space from the
inventory.
How it works on FindSpace?
Brands can use our expertise in commercial real estate to get that perfect space for your
business, test new markets and boost their marketing campaigns. We are revolutionizing the
commercial real estate industry for businesses.
Criteria 1
List a space on FindSpace.
Let us help you find perfect tenant.
We share the commission
Criteria 2
Look for a space on our listing.
Get a client for the space.
We share the commission.
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Festimate- Rental Estimate:
Festimate rental value is FindSpace estimated market value for an individual commercial
space. It is a starting point in determining a commercial spaces rental. The Festimate is
automatically computed based on thousands of public and user – submitted data points
Koramangala comes under posh areas of Bengaluru. To find office space here is very
difficult. But with the help of Festimate people can find the average rent which is Rs 65 per
square feet.
It becomes very useful tool for clients as they get to know about the exact price of the
location. They don’t need to depend on brokers for finding out the spaces.
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2.3 OTHER RELEVANT INFORMATION:
How Startups can be benefitted through FindSpace.in?
A lot of successful online or e-commerce businesses and small scale startups face a very
genuine problem in which is to target potential audience who are not aware of your brand /
business and convert them into loyal customers.
One of the colossal hurdles these ventures face is that of forming a professional presence out
of the ambit of their reach. For digital businesses these would be tapping into potential
customers that are more likely to avail your product and service when acquainted to it with
physical dimension. For small scale businesses this would be making people aware about
their existence outside the vicinity of their operation. The biggest challenge faced while
executing a strategy which aims to tackle these marketing barriers is finding the appropriate
commercial space which would complement the needs of your business to blistering extents .
People with their own space can open doors and host events reaching new audience,
expanding your network and growing their business with additional income.
An unfurnished office space for rent
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What are the biggest challenges faced? Most importantly what does one do about it?
Understanding Equity:
As a good businessman we obviously know the owning assets that generate value and
earnings is much better than owning assets that generate expenses.
The important issues to be kept in mind are:
1) Issues with standard rental :
If you rent a commercial venue through conventional means and methods nor only we
find our self-facing leases stamped over but might also have to pay maintenance,
utilities and commitments to occupy the place for a set temporal period.
2) The other side of the picture
In bold contrast to this consider finding a platforms which lets one to rent said avenues
on weekly or monthly rolls without strict leases and free of any and all sorts of legal
fidelity.
3) What can we do with it?
This suddenly empowers one to switch between places to find the appropriate one
according to one professional needs .Also switching between important locations with
a good inflow of demand target audience is gold for your brand / business awareness.
4) Optimization through analysis:
Only if we have the liberty to hop between different stops and decide which shops or
workrooms are most suitable for our goals and targets we will be able to optimize your
business strategy.
www.findspace.in is an online avenue that not only lets one avail everything already
mentioned here but a lot of other features as well as to assist one in real world
simulations of their business in different environments .We can rent office or shops for
short terms ,shared working space with already established businesses which by the
way is a great place to tap into the already in –flowing foot traffic ,avail storage spaces
to cache your procurement, get promotional spaces in places like malls and shopping
centers, advertising spaces and a lot more .Basically all the benefits of renting out any
space with bare minimum liabilities . So wait not and up your marketing game to the
next plethora.
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CHAPTER -3 TASKS PERFORMED:
3.1 Choice of techniques utilized:
I was assigned the task of digital marketing of our brand i.e. to make our brand presence in
all social media platforms (Facebook, LinkedIn, and twitter)
To handle all tools including Email Marketing, SMS Marketing, Web Notifications,
Hellobar, Sumome
In order to have a solid online presence we need to be updated of latest tools used for
marketing of your brand. As it is cost effective and nails to our target audience.
Email marketing has lot of potential to tell and deliver what you want to give to target
audience. I was using Mail Chimp to make my customized emails and sending them to our
target audience. However the bounce rate is high here as many people don’t like to open up
their emails on regular basis. Timing is very important when we are sending the emails and
on which days.
After email comes SMS which is the second most used tool for sending promotional
messages. The plus point with this tool is that people generally open up their sms irrespective
of time. I tried to utilize this tool to create brand awareness and letting them know about us.
Web notifications also proves a very important tool to market your brand. If they are
already subscribed with us it becomes easy and target audience gets to know about it. It’s a
popup which will come to the customers if they are on internet. Since most of the people are
on smartphones and have internet so to direct them to our site becomes easy. But again I used
to take care of the timing as it is very important to know when our target customers are
willing to listen to us.
Hellobar and Sumome are tools which help you to market your products as well as tell you
how much traffic we are having in our website.
With the help of Hellobar I used to divert the traffic towards a particular page which I want
my customers to see first as it happens when a customer comes to your site and gets diverted
to various other things present there. In order to avoid this it proves very useful as it will take
directly to a page which he/ she wants to see first with a click.
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Sumome is a wonderful tool as it has features like List builders, Heat maps and share.
List builders converts one time visitors into lifelong readers and email subscribers. We need
to work hard to get people to our site, then list builder lightbox makes sure they subscribe to
our email list and come back for more.
Heat Maps show me exactly where people are clicking on my site. With this information I
can then improve our pages to show our visitors what they want to see. With the help of this I
was able to keep an eye or can track the clicks on every single of my pages.
To Handle Facebook and send targeted posts in groups, pages, conversations, handle
Facebook page, participate in conversations on a daily basis.
Facebook is itself a wonderful tool to market your brand and product. My job was to do
regular postings on various groups or pages. The postings were target based and I was
getting in touch with Startup groups and telling them about our product and services.
We had a Facebook page of FindSpace which I was closely monitoring as how to get
maximum post engagements, people reactions towards our targeted post and most
importantly at what time my users are active. With the help of Facebook analytics I used to
get every information related to this. Here also timing matters as to make your postings to be
available in news feed of your customers. As per the insights of Facebook maximum users
were active from 12 noon to 3 PM. I used to do my all postings that time only to drive traffic
and let users know what we are doing for them.
To handle Google plus: News & updates about FindSpace, commercial real estate,
industry trends, insights, etc.
I used to keep a track of google plus also. Publishing news and updates about FindSpace. It
was a job done on regular basis as to be active in social media platforms I do not left any
stone unturned. I used to keep postings news of commercial real estate trends, and how we
are providing our customers value driven products and services.
I used to go through www.ibef.org, www. Moneycontrol.com to keep myself updated about
the latest trends of commercial real estate.
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To write content for blogs, email newsletters, email promotions, sms, etc.
Content marketing plays a very pivotal role in marketing your products. As if the content is
strong enough and written well it will pull off maximum crowd. I was responsible for writing
blogs for FindSpace and getting it published at right platforms. Generally Facebook is the
best platform to promote and sell your product and services. I used to publish my blogs in
various startups groups to let them know about our brand. The purpose was to have your
presence and to know what your rivals are gearing up for. It was a routine task for me to
write latest content on commercial spaces and getting reviews by various people. Getting
reviews is also very important so that you can know whether I am able to hit the target or not
if something is lacking then I used to re correct it and write to make it more concise and
concrete.
To participate in commercial real estate conversations and think about new ideas to
bring traffic ex-creating videos, content etc.
I was responsible to look after enquiries also about FindSpace in Quora, Yahoo answers etc.
The main purpose was to let people aware that we are constantly aware about their queries.
It happens when a very potential client gets upset if they put up a query and no body
answered. So to avoid that I used to regularly update news, articles related to commercial
spaces. Quora is a very good platform to brand your products. Posting blogs or news helps
people relate to the company and they find it very useful and handy as they get their answers
to their problem. From here only we can direct them to come to our website and get to know
more about our services.
Creating video content has their own advantages and proves very useful tool to promote. The
reasons are
1) Inspire viewers.
2) Educates audience.
3) It’s entertaining
4) Using watch video Call to action ( helps in drawing attention to a video on your
website from our Facebook cover page)
Using CRM (Customer Relationship Management) Hub spot
I was working on CRM part also as to make sales happen we need leads of prospective
clients. To convert a good lead into client is a pain taking process. But with the advancement
of technology and software’s like Hub spot had made it very easy.
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The unique features of the CRM was I was able to keep record of contact information,
emails, phone calls, in person meetings, rotating leads to sales, keeping track of deal stages
and team pipelines , providing sales forecasts and tracking customer support calls.
CRM of Hubspot is very useful as using an excel spreadsheet to track customer interactions
might work now, but it will quickly become painful as sales team and customer base grow.
The Benefits of CRM system
1) Centralized Data
CRMs keep all information about a deal in one place so reps never have to dig through their
inboxes to reconstruct their history of interactions with a prospect.
2) Standardized Record Keeping
Every sales rep have a different way of tracking prospect information. A CRM removes this
variation and ensures I can evaluate your entire sales organization health at once.
3) Capacity to scale
Manually tracking every customer interaction is possible I have only one sales rep and five
customers. But as we grow asking reps to spend hour’s manually entering data is not a good
use of their time.
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3.2 INTERPRETATION AND OUTCOME OF ANALYSIS:
The task which I was assigned to do create strong online presence for my company. I can
draw outcome that there are certain parameters to understand the world of Digital marketing.
I got to know about it when I completed my internship. The outcomes which are based on
one parameter that how to use Facebook effectively for branding.
Publish Ever green posts
The lifespan of a Facebook post depends on many factors. One is its usefulness. Even an old
post can show up in your news feed if your friends like, comment or share it.For example,
this update was 18 hours old when it showed up in a user’s news feed because one of her
friends liked the update. It’s as simple as that.
So when posting to Facebook, it’s important to create some evergreen content that will
remain fresh and relevant to users for a long period of time. The more people engage with
your content over time, the longer the lifespan of those posts.
Post Quality, But less often:
We’re living in an age of content overload, and Facebook is no exception. According to
Facebook, “Of the 1,500+ stories a person might see whenever they log onto Facebook,
News Feed displays approximately 300.” As a Facebook marketer, I am fighting for one of
those precious spots.
We don’t need to post a high volume every day to get attention. Instead, work smarter by
creating quality content. More posts won’t necessarily bring you more love from Facebook.
There’s no rule for how many times you should post each day. The Buffer blog suggests
that two posts per day is a good number for businesses on Facebook. The Post Planner blog
recommends that you post three different types of posts per day. It needs to be figure out the
right number of posts for your business. Also try to mix and match links, images, videos
and text updates.
Use organic post targeting to serve relevant content:
Facebook organic post targeting enables us to deliver our content to the audience most likely
to engage with it. In other words, Facebook gives you the option to target your content to
specific groups of fans.
Facebook offers eight options to set your target: gender, relationship status, education level,
age, location, language, interests and post end date. Select the targeting options that will
help you zero in on the right audience for your content.
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Post at off peak hours:
During times when fewer people are sharing content on Facebook, your chances of getting
noticed are higher. Typically the best time to post on Facebook is 3 pm. But we can try
posting at different times, depending on when our fans are online.
Choose content types that resonate with your audience :
According to Social bakers study published in 2015, Facebook audiences love videos and
links more than images. As per their study images get the lowest organic impressions, links,
and text only status updates perform better and video is the highest impression generator of
all
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3.3 GENERAL OBSERVATIONS:
One third of businesses are planning to introduce a Digital Transformation
programme and one third already have (Source: Smart Insights and TFM&A)
Content marketing in 2015 generates 3 times as many leads as traditional outbound
marketing, but costs 62% less. (Source: Hub Spot)
Content creation and management now claim the second-largest share of digital
marketing budgets. (Source: KaPost)
On average, 60% of a marketers' time is devoted to digital marketing
activities, fueling demand for digital marketing skills (Source: Smart Insights and
Ecommerce Expo)
28% of marketers have reduced their advertising budget to fund more digital
marketing. (Source: CMO Council)
73% of B2B marketers use video as a content marketing tactic, and 7% of
marketers plan on increasing their YouTube marketing.
71% of companies planned to increase their digital marketing budgets this year
(Source: Webbiquity)
78% of companies now say they have dedicated social media teams in 2015, up
from 67% in 2012 (Source: iScoop)
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Chapter 4 CONCLUSIONS
4.1 SUMMARY:
FindSpace is one of the unique startup started to cater the needs of commercial spaces. Since
there is no other companies working on the same idea we have the first mover advantage in
the segment of commercial spaces.
India’s office space absorption during 2015stood at 35 million sq. ft. – the second highest
figure in country’s history after 2011. The demand for office space in 2011 came from
occupiers raking advantage of low rents after the global financial crisis. This time however it
was the result of corporates implementing their growth plans.
While pan –India vacancy still stands at 16%, realistic vacancy actually stands around 8-9%
the total vacant supply is not always relevant for occupant occupiers. This is because most of
them do not consider Grade A buildings that are sold or located in areas with inherent
disadvantages and connectivity issues or have been vacated from recent occupier exits and
no longer match grade A requirements.
Cities such as Pune, Bangalore, Hyderabad, Chennai, have a vacancy rate of 5-10%
prompting the need of fresh supply to meet growing demand. Developers have been shying
away from commercial projects because though land and construction costs have been rising
rents have not reached a point where developers can get 20% IRR. However as recent climb
faster developers will start constructing at least in good markets.
In 2015 office space demand was mainly driven by IT/ ITEs, e-commerce, startups and large
consulting firms. Players in many other sectors like FMCG, BFSI (front office)
,manufacturing ,telecom and pharma did not come into the market however this should
happen in 2016-2017 . Next year will also see demand for built-to-suit (BTS) properties
especially from the larger IT occupiers
Demand will remain consistent over most 2016 with occupiers showing a positive bias.
Given the low supply and continued demand for commercial spaces, corporate occupiers will
continue to firm up their expansion plans. While 2016 will bring continued demand for
leased spaces, quality supply will be lower. This means that unmet demand will reflect in
higher occupancy of grade b offices.
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4.2 GAINS OF THE STUDY:
By doing this project “Future of Commercial Spaces” I got to know about the potentiality of
commercial spaces. In coming years it will boom like anything as companies like startups, e-
commerce are growing at a rapid scale. To cater the needs of their organization they need to
have commercial office spaces, retail spaces and FindSpace will try to fulfill their demands.
My project will prove helpful for the company to think about expansion. Cities like Mumbai,
Pune, Chennai, and Hyderabad have ample scope for these spaces. Currently we are based
out of Bengaluru and our resources are limited. In order to scale up in other cities it requires
a lot of research and development.
Digital Marketing will play the pivotal role for my company to scale up in other cities. As I
tried to make a strong online presence for my company in all social media platforms. This
can be done for other cities also by sitting here in Bengaluru but it will require man power to
pull up our brand in other cities.
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4.3 LIMITATIONS OF THE STUDY:
The biggest limitation of this study is that all the details and factors are limited up to
Bengaluru only.
Since it is a startup so there is lack of manpower also. We are small team of 10 members and
each one of us are doing multitasking i.e. doing more than the work of one person.
We cannot do survey as the presence of the company is not very known. It will take time to
have online and offline presence in the market.
We are currently based out of Bangalore and we don’t have any presence in other cities. In
spite of knowing there is a huge demand for commercial spaces we are unable to gather data.
We need manpower and a team of dedicated people to pull up the brand in other cities.
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Chapter -5 RECOMMENDATIONS
Behind every successful company there are 3 factors
Dedicated team
Exceptional products
Dependable support system
So FindSpace should focus on maintaining stable and dedicated team in Bengaluru. We need
a Sales team who can work on generating leads, maintaining CRM, and most importantly
sales personnel for site visit with the clients.
In order to gain faith of customers the company’s marketing team need to be on their toes
when it comes for client satisfaction and their queries.
Regular marketing activity and digital campaigns should be done on social media platforms.
The purpose will be to hold our previous clients and convert our prospective client to actual
clients.
FindSpace needs to think of innovative ways to market their products. Since it is a startup
and requires lot of energy and passion to pull up the brand. It needs to take parts in
exhibitions, startups meet, and other events. The reason for taking this action is the more
promotion we do in front of the public the more is the brand recall.
