Being in a rush is a given these days. It seems that everybody wants everything now. Well that’s fine if you’re talking about buying the latest phone or pair of shoes, but if you’re a real estate developer looking to launch a new project, taking your time to build the right foundations from the beginning will pay dividends in the end.
You have the pricing set, beautiful renders ready, your marketing plan in place and a sales team desperate to start calling. What else could you possibly need? The answer is, a solid framework. A foundation that will help you to sell efficiently and at pace and to help make strategic decisions in the future. But what does that entail?
There are many factors that should be considered before going to market. Here are a few of our top tips to make sure you make the most out of your marketing budget.
Making sure that you have the right systems in place at the beginning is vital to the success of future campaigns. Marketing Automation, Digital Ecosystem, Customer Relationship Management, Leads Management all need to be considered before starting any marketing campaign. If you invest the time to do this properly from the start, you won’t regret it.
It means that you will be able to track your marketing activities from the source, understand how they flow through the system, see how the leads were dealt with and closed (or not closed) by your sales team. Understanding this means you will know how every $ of your marketing budget is being spent and how it should be spent in the future.
Don’t work in silos. Make sure that your Development, Marketing and Sales teams are working in parallel as the project evolves. Your sales team has precious insight into the needs and wants of the customer, this should be considered by the development team during the planning process. Development needs to involve marketing at the beginning of the process too, so that they understand the story behind the project and can communicate with the architect on their marketing requirements. Development will need to be on hand to engage with brokers and potential customers. Doing this early will increase efficiency and pace and make sure that everyone is working to the same goal.
This is not only in relation to the project you are launching. Making sure that prospective customers understand the credibility of the developer is the first step to a successful campaign. If they don’t know who they are buying from then it is likely that they will go to a competitor or disregard you completely from their buying decision. Tell them who you are, what you have already accomplished and why you should feature in their preferred list.
Forming strong relationships with real estate brokers and agents is one of the most important elements of running an effective marketing campaign. They are speaking to customers every single day and understand what is happening on the ground. Bringing them on board early in the sales process will help you to understand what the competition is doing and how you can find your niche in a very competitive market place. If you can get the brokers and agents excited about your project then they will be motivated to pass that enthusiasm onto their clients.
Research. Research. Research. Do this properly, from the start. This part of the process is often overlooked by marketing teams, eager to complete their campaigns. Make sure you understand who you are talking to, what they want to know and how you can help solve their problem. If you don’t do this right, then you are potentially wasting your marketing budget. We are all individuals and with different interests, likes and dislikes and cultures. Getting to know your target audience inside out will take time, it is an ongoing process, but if you start from a position of strength and keep learning and adjusting you will be heading in the right direction.
Nurture your leads properly and track how they are being managed by your sales team. Make sure that your sales team is trained properly and know what their sales pitch is going to be. Give them all the information they need to convert that lead into a sale. Don’t waste leads. If someone doesn’t answer or their phone is switched off that doesn’t mean they aren’t interested. Try again and again, or pass the lead onto another member of the sales team. If clients don’t buy from you, ask them why? Find out why they didn’t buy from you but from a competitor and this can help you to align your marketing campaign accordingly. Quality leads are precious, make sure that they are treated as such.
If you need help with your sales and marketing strategy then drop us a line at firstname.lastname@example.org. We’d be happy to meet you for a coffee to understand your requirements in more detail.