ViewIT

ViewITs market approach is two-fold, become an invaluable tool for agents within the community and they will effectively disseminate the technology to end-users in the market. As agents start to see the value in the application, so they will upload more listings. As they do this, clients will start to view video walkthroughs more often than static pictures and text and this will create a snowball effect leading to rapid increase in traffic to the site and leads for the agent. The UAE has a total population of 9.6 million and a total addressable market (TAM) of 6.2 million. We have a serviceable market of 3 million people as real estate is a need, rather than a want. 2020 has seen real estate transaction values of AED 52Bn till September 2020. Dubai has 5,200 registered real estate agents and 3,640 real estate agencies, defining our serviceable addressable market (SAM). PropertyFinder has 105,000 listings online and their rates are the highest in the industry. With regard to our share of market (SOM), we plan to absorb 20-25% of this market within our first year by offering our services free for 3 months, allowing the industry to get used to an easier way of listing and viewing Properties. Once we have built up a critical mass of users, we will monetize the business by charging a nominal fee (around AED 30) per user per month to upload unlimited listings on our platform. This is 65% lower than our competitors who can charge anywhere between AED 90-200 per user. We feel this is the right strategy as with any online aggregator, more listings equals more impressions equals more value for our clients, which is our ultimate goal. Our customer acquisition cost (CAC) will be low as our niche market is relatively small but it’s potential reach is high. Real Estate portal searches accounted for over 13m visits to the top 3 Property portals for the month of September 2020. We pride ourselves on our ability to wedge ourselves into the right target market, which is why we have decided to move ahead with an organic growth plan. Our main KPI will be the number of agents / seats we are able to sign up to our product. What makes our marketing plan unique is that we do not need to rely on conventional digital marketing techniques which are riddled with high cost and little to no value if there is no scale, lowering our cost benefit ratio. We would grow the market for this product organically as agents would share these listings with their clients and each other due to ViewITs inherent ease of use.