Over the last 13 or so years in the property development space, I have seen an incredible evolution of the project marketing world. We have gone from mainly focusing the campaigns in print media advertising to nowadays where the bulk of marketing is done online with some supporting print collateral.
In all the years however the strategies have stayed the same – it was only how the delivery of the information has changed to suit the expectations of the purchasers. Ultimately it is the dream that is being sold to the purchasers of a better lifestyle, better accommodation or in the case of investors, how the property would add to their wealth and portfolio.
The project marketer or sales agent themselves have a huge role to play in conveying this dream, but what about the supporting documentation. What are some of the keys to this “marketing collateral” and how should it be presented for maximum effect?
Here is a short summary of the top 3 keys amongst many:
Present a Story
Every successful development has a story wrapped around why that dream is going to be fulfilled for the purchasers. One of the developments that have really stood out recently as a marketing success story is the St Joseph Terrace Homes & Warehouses.
The developer behind this project, Domain Hill Property Group has cleverly used the origins of the building into a compelling story about the project. This allowed the purchasers to emotionally connect with the project and feel a sense of belonging and pride of living and owning a piece of Melbourne history.
Furthermore rather than labelling the project as townhouses or units – these two-storey dwellings were defined as Terrace Homes – which is a much more luxurious sounding term rather than any others.
So when the entire marketing was ultimately put together and delivered – the project marketing team had a very successful presales campaign nearly selling the development out within the space of 3 months during a reasonably difficult time in the property market when most other developers were complaining about the lack of interest in their projects.
Align the 3D Visuals with the Brand
In a recent project in Adelaide, we were asked to put together some visuals for a luxury boutique project on the main road. The keys to effectively showcasing this development were going to be about overcoming potential questions in the purchasers’ minds.
So to overcome noise and security, an aerial image of how the development interacts with the locale was created which showed a high fence and an urban forest behind it. To explain the contemporary architecture – a range of key feature visuals were also produced of the entryway, private open space and the living areas. Thus every 3D image had a purpose and reason why it was there.
Present Marketing Collateral to Your Target How They Want It
Once the development’s collateral is created – what happens then? One of the biggest shifts in recent times is how the developments are being presented to buyers. Gone are the days when the real estate agent would simply list the development in a local newspaper and then hope that prospective buyers are going to turn up on the doorstep and ask to sign the contracts.
The buyers have become much more sophisticated and knowledge-hungry. And with technological advances – it is now easier to visualise more and more components of the unbuilt development projects.
However, once all this marketing collateral is created – what is the strategy for getting the information out there and how is it going to be delivered?
In a recent article by Jon Ellis from Investorist – “Will the internet make property sales people and project launches redundant?” – Jon writes:
“Obviously salespeople are vital to executing sales. The property industry is a people’s business and that certainly isn’t changing any time soon. But technology now offers property developers, project marketers and salespeople, opportunities that they previously never had.”
More and more developers are shunting print media and accessing buyers nationally and internationally by creating effective internet based campaigns that are supported by websites, video webinars and mobile applications that can deliver information to buyers all over the world.
And ultimately I think Jon summarised it really well in his article:
“The growth of international buyers in the domestic property market opens up many opportunities for developers and property marketers. Those who leverage new technology to expand their markets and networks will continue to thrive in this global marketplace. The others will undoubtedly become just as redundant as my old Nokia.”
So in summary, keep your developments focused and targeted and make sure to maximise the exposure of your project through the right channels and present the information to the buyers how they want it presented to them.
We look forward to your comments and questions and thank you for taking the time to have a read.
To your development success,
BEng (Mech with Honours) / BTech (Industrial Design), LREA, VPELA