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70% increase in Brand Familiarity in the Middle of High Competition
Truliv Coliving is a leading provider of premium living spaces in Chennai, designed to cater to the unique accommodation needs of students, working professionals, and IT employees. By blending modern aesthetics with functional design, Truliv creates an environment where residents become a community.
Focused on delivering a hassle-free lifestyle, Truliv ensures every aspect, from convenience and comfort to fostering a vibrant community, is seamlessly integrated under one roof, making it the ideal choice for contemporary urban living.
Objective
- Identify and engage with potential audiences, including students, working professionals, and IT employees.
- Increase the number of quality inquiries for Truliv properties.
- Address the high-price perception and position Truliv as a value-driven, premium offering.
Challenges
Truliv encountered several challenges in establishing itself as a leading coliving provider. The brand faced difficulties in convincing potential customers of the value offered through its premium services. Additionally, competition from other housing options made it hard to stand out in the market. Moreover, there was a need to educate the target audience on the unique advantages of co-living spaces, requiring effective communication and awareness-building efforts.
High Price Perception
Truliv's premium pricing initially created resistance among cost-sensitive segments. Convincing potential customers of the value of the offering was a critical challenge.
Competition from Low-cost Options
Numerous lower-priced PGs and rental accommodations, offering basic facilities, posed significant competition in the market.
Awareness Gap
A limited understanding of the benefits of coliving spaces among the target audience necessitated significant efforts in education and outreach.
Strategies to Increase Website Traffic
- Highlighted all-inclusive rent and shared cost comparisons to showcase better value.
- Launched unique campaigns on Google, Instagram, Facebook, and LinkedIn for segmented audiences.
- Engaged students and IT employees through campus outreach, corporate tie-ups, and local promotions.
- Introduced monthly installments and discounts to improve affordability and address price sensitivity.
Key Results
- Digital campaigns boosted inquiries by 50% in the first three months.
- 70% of surveyed leads identified amenities as the key factor, enhancing the perception of coliving as a premium, value-driven option.
- Conversion rates increased by 35%, as prospects viewed Truliv as a comprehensive modern living solution.
- Truliv became the preferred choice for students and professionals seeking modern, convenient living spaces in Chennai.
Conclusion
Truliv’s approach of addressing price concerns while highlighting its value truly connected with its audience. By combining both online and offline marketing efforts, the brand saw a noticeable increase in leads and solidified its standing as one of Chennai’s top coliving providers. Truliv is now setting the bar higher for modern living, offering spaces that perfectly blend convenience, community, and comfort.
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FAQ's
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