You're looking to sell off-the-plan, so you’ve bought a hole in the ground. You have some computer-generated images of what it will look like in all its glory, circa 2020. And unless your target market is Leonardo Dicaprio who might at this very moment be lazing on his private Belizean Island sipping Margaritas, you’re asking people to make the single biggest purchase decision of their life and chip away at the bill for the next 35 – 40 years. Easy, right?
This is one of the key obstacles that we, as off-the-plan property marketers face every day. Couple that with the fact that the overall off-the-plan market has been trending downwards for the past two years, and we find ourselves in a bit of a bind. In periods of high demand, it was enough to simply whack an ad together with a “Buy now! Limited stock available!” message and watch the EOI’s pile up. In 2018, it’s a very different scene. Due to high supply and lowered demand of off the plan apartments, people are thinking and acting differently. Old tactics won’t work, and an outdated way of thinking sure as hell won’t sell you any apartments.
Here are the key things to consider and remember when putting together a marketing campaign to help you achieve the best results:
If I had a dollar for every time I’ve come across a CGI with some carefully placed champagne glasses on a table and an indoor fern nearby, I definitely wouldn’t be Belizean Island neighbours with Leo, but I’d at least have my coffees sorted for a month. In a saturated market where everyone is doing the same thing, this one might seem like a no brainer, but DO SOMETHING DIFFERENT! In your marketing campaign, this is what will make you stand out from the crowd. It’s all too easy to scroll past or ignore a static image, but moving animation, video, and unique copy can give you the competitive edge you need. Don’t be afraid to try new things. It could be the make or break of your campaign.
In the property days of Yore (and still today), most developers have a formula that they put together to arrive at lead targets. The formula being that X amount of enquiries will convert to Y amount of sales appointments, which will eventually lead to Z amount of apartments sold. While this formula still has a place, it is important not to get so hung up on a lead number that it overshadows the core objective of your marketing campaign – which should be to generate high quality prospect leads. Don’t fall into a trap of panicking and reacting to high lead targets with poorly thought out strategy and putting a large amount of your marketing budget behind one tactic and hoping that it will be the golden ticket. At the end of the day, what’s better – 50 poor quality leads, or 10 promising ones?
Arguably one of the most important things to note, and something that can often get overlooked. Just because someone is not ready to buy right now, doesn’t mean they’re not ready to buy. During the sales process, it’s easy to channel most of your energy into pursuing the low hanging fruit – the people who are ready to click go right now. The reality is, when you’re making such a huge purchase decision, you’re not going to be sold on a project just because you saw it splashed on the inside cover of Domain. The sales process from enquiry to purchase is nuanced, varied and takes time. It’s important that you note what stage of the journey your lead is at and follow up accordingly. This is largely a sales role, but as marketers we can enhance the effectiveness of this strategy with a strong online remarketing campaign that keeps your brand and your development at the top of your prospects mind – and search results!
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