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Wednesday February 28th, 2024

G-Labs: Disrupting real estate sales with AI, big data and digital technology

(L-R) Lilanka Udawatta Co-Founder, G-Labs, Santhushi Maha Mudalige Director Genesis Core Technologies, Rashmin Maha Mudalige, Co-Founder, G-Labs, Madhawa Udawatta Head of Digital, G-Labs

Technology by itself is not nearly enough. Businesses need to know how to manipulate technology to drive better results, attractive ROIs and impactful transformations.

Rashmin Maha Mudalige and Lilanka Udawatta spun-off G-Labs three years ago as the technology arm of Genesis Core Technologies they co-founded in 2012, for its differentiated and unique digital marketing solutions using artificial intelligence, machine learning and big data technology for the luxury real estate market of Sri Lanka. Despite the economic collapse during the Covid-19 outbreak and unfolding debt crisis, G-Labs is helping real estate companies drive up sales to pre-pandemic levels, reducing their marketing costs by 70-80%.

Rashmin and Lilanka explain what differentiates G-Labs from conventional digital marketing companies and how they plan to broaden their customer base for growth.

How do you differentiate from your competition?

In essence, we curate new-age technology solutions for better quality lead generation, market segmentation and data collection that would translate into better ROIs, forecasts, and market insights for our clients.

We are not another traditional marketing company. G-Labs uses AI, ML and Big Data technologies to drive end-to-end digital marketing strategies for our clients, from identifying a potential lead to closing a sale. Our AI and ML algorithms run on our proprietary platform Arcturus which provides insights into target market segments. We helped our clients reduce their marketing budgets by 70% to 80% throughout the pandemic and the economic downfall to perform record numbers of sales and outsell their competition.

For our luxury real estate clients, we developed digital tools such as virtual tours, augmented reality and 360 Live Streams to boost their sales during the pandemic. We also built statistical tools like Market Forecasts and ROI Calculators to tip a buyer’s decision in favour of the product, resulting in a higher conversion rate.

There are various sources of data available in the public and private domain, big data that we crunch to identify unique buyer personas and cater to their exact requirement. We approach different target market segments by tapping into specific trigger events and conversion actions. Digital marketing is not just about increasing eyeballs on your message or advertising campaign. We have observed that digital marketing strategies can generate more junk leads if the focus is purely on reach or how many people viewed your campaign. Instead, generate high-quality leads with a higher probability of conversion by using different tools such as dissecting Big Data with the power of AI to specifically target the interest, sentiment and behaviour of the vast digital populous.

It is a must for all businesses to spend their sweat and money on digital marketing to survive and grow in the current ecosystem. But not all brands have to focus on brand engagement or loyalty. Why? Because brand loyalty comes with trust, and trust comes after how well your product or service performs compared to a competitor. We at G-Labs focus on selling the product to the precise market with the least cost per action.

What is next for G-Labs?

We prefer to describe G-Labs as a technology solutions company that uses its proprietary technologies to disrupt digital marketing.

Digital marketing solutions for the high-end real estate market are just one area of its focus. G-Labs also builds solutions around AI, machine learning, big data, data visualization, software development and application development as a service to international fintech clients and real estate companies in Asia.

G-Labs exports expertise as a service in AI, machine learning, big data, blockchain solutions, and building decentralized Web 3.0 products. We realize the value of data and how decentralized application development is disrupting the privacy and the security of the internet, evolving to a new age of internet privacy as we know it. We ventured into servicing one of the most delicate and complex sectors, fintechs. One such example is a blockchain platform for a fintech in Asia.

We solved the most niggling problem in digital marketing, successfully marketing premium real estate in Colombo. We aim to expand our expertise to other sectors and industries to help a broader spectrum of businesses reach and expand their customer base. G-Labs is going global to provide a complete 360-degree digital strategy from lead generation to facilitating to closing the sale.