Although 3D modeling is known to generate significant financial benefits, their precise measurement remains complex. Ensuring a good return on investment, however, remains a major challenge. How do you measure the ROI of 3D modeling projects?
A crucial challenge for property developers. In reality, there are no specific tools for measuring the ROI of a 3D modeling project, as this depends on the circumstances.
To determine the profitability of your project, a few steps are necessary, from analyzing expenses and profits to determining the ROI of your 3D modeling project.
Calculate investment costs for 3D modeling
Calculating ROI first involves identifying all the investment costs involved in 3D modeling your real estate project.
Identifying objectives
Before calculating the return on investment for 3D modeling projects, you first need to detail your real estate project. This will enable you to estimate the budget required to create 3D models. Among other things, you'll need to provide:
- Project description: type of project (house, apartment), location, architecture, dimensions, layout;
- Visual references for the project: plans, images, sketches, videos;
- Design details: materials, textures, colors and patterns to be used, etc.
Calculation of modeling costs
Provide your service provider with all the details of your project to obtain a quote. 3D graphic designers generally base the price of a model on the following factors:
- The complexity of the project: 3D modeling of more complex real estate projects requires more time, making it more expensive;
- Professional experience: experienced graphic designers who are able to deliver more advanced results can charge more;
- The objectives of 3D modelling: the prices for producing a 3D plan, 3D model or 360° perspective are different;
- The hardware used: the use of sophisticated hardware and advanced software has an impact on the price of 3D modeling.
The amount you invest in 3D modeling is your capital expenditure.
Evaluate the benefits of 3D modeling to measure ROI
In addition to expenses, you also need to calculate the financial and non-financial benefits of 3D modeling.
Financial benefits
3D modeling can offer a number of financial advantages for the developer.
Reduce design costs
Traditionally, the realization of real estate projects requires physical prototyping costs. 3D modeling makes it possible to avoid this costly solution.
What's more, creating a 3D model makes it easier to plan the project, assess its feasibility, detect errors and determine which materials to use.
Before construction work begins, you can also simulate the energy efficiency of your home. Improving the energy performance of a house that has already been built can be more complicated and therefore more costly.
That's why this aspect is studied right from the project planning stage, using BIM (Building Information Modeling). This solution makes it possible to anticipate the thermal behavior of a property.
Minimizing production costs
Because 3D modeling has optimized the project design, design errors are reduced. This saves you the cost of additional modifications.
Thanks to a clear, detailed representation of the real estate project, each stakeholder has the information they need, making it easier to understand and carry out tasks.
This speeds up the construction process, reducing overall construction costs.
Travel reduction
3D modeling can also be used in the marketing phase. Virtual tourssave you the expense of physical travel. It's an immersive representation of a house or apartment, allowing you to move around virtually in different rooms.
Potential customers can visit the real estate project anytime, anywhere, from any connected device. While it doesn't guarantee a sale, it does enable you to streamline costs.
Sales growth
3D modeling can be used as a marketing tool to boost your sales. Instead of investing in different marketing media, you can integrate 3D models of your real estate projects into your real estate ads.
In today's digital age, real estate ads featuring 3D visuals are more visible, increasing conversion rates.
What's more, 3D visuals make it easier for your customers to make decisions. At a glance, 3D perspectives can arouse the interest and emotion of your audience.
By offering a virtual visit, potential buyers will be able to project themselves more fully into their future home, thanks to the immersive experience offered.
3D modeling is a multi-purpose tool with a common goal: to increase sales, i.e. your ROI.
Intangible benefits
3D modeling also offers intangible benefits that need to be assessed. Together with the financial benefits, they enable an effective cost-benefit analysis to be carried out.
Customer satisfaction
3D modeling presents a property clearly and realistically. It can offer immersive, personalized customer experiences. They can, for example, simulate layout options or follow the progress of a project using a 3D model. All this is designed to enhance customer satisfaction and loyalty.
Enhanced brand image
The use of virtual technologies in real estate gives you greater credibility. The realistic representation of your real estate project demonstrates your transparency. At the same time, you demonstrate your commitment to innovation, a factor that sets you apart from the competition.
Valuation of intangible benefits
To evaluate the intangible benefits of your modeling project, you can use various methods, such as :
- Qualitative evaluation: e.g. gathering opinions and feedback from customers and project stakeholders on the impact of 3D modeling;
- Contingent valuation: ask the target audience what they are willing to pay to obtain this intangible benefit, such as personalizing their request;
- Dashboard: assign scores to intangible benefits according to their impact, importance or contribution to objectives, with a view to uniting them into a single value.
Calculate the ROI of your 3D modeling projects
Once all the benefits and expenses have been determined, all that remains is to measure your ROI and adjust it if necessary.
Comparison of total costs and benefits
Measuring the ROI of your 3D modeling projects involves comparing the total costs of modeling with the benefits derived. Using the formula (benefits / total costs) X 100, you'll obtain a percentage that indicates your ROI. This is a simplified formula that does not take into account complex and variable data.
ROI optimization
Calculating ROI indicates the profitability of your business. If this is low, you need to adjust your strategy. As 3D modeling is in itself an efficient and cost-effective option, it's up to you to make the most of this tool.
This means putting it at the heart of your real estate project to optimize the design and construction process, streamline costs and increase customer commitment and satisfaction.
Make your projects more profitable with high-quality 3D models:
