Launch Campaigns have been routine for real estate marketers
Some of us have got into fix while planning & executing them, though we’d all agree even when perfectly planned, what ensues is a potboiler lasting 6 to 8 weeks. Interesting stories weaved around these experiences, can even make for a Compelling Bestseller.
While I must admit that there can be innovative ways of building success stories around campaigns, the aspects mentioned here come from my learnings, and have come handy in a career spanning over 2 decades
1. Brand Purpose: The sooner you decode the better. This essentially requires you to dig deeper into the brand personality and helps create/recreate the positioning and the identity. Brand workshops can be facilitated by agencies & consultants to navigate through the purpose, personality & values of the brand. The process entails discussions, interviews and brand workshops that are helpful in determination of brand positioning of mother and child brands. This can be skipped, if the brand has undergone these steps earlier in the journey
2.Corporate Brand Story: Take your time in understanding of the brand- Try creating a compelling story around it that people may want to hear
Rustomjee chose a great positioning line “It’s Thoughtful-It’s Rustomjee”. They wanted to highlight the premise of the brand and what differentiates them. They based their learnings on consumer understanding, that in turn help derive design principles. I thought the “Childhood” campaign merged the functional and emotional attributes of the brand extremely well to create one of the most distinctive and noticeable campaigns
3.Product Development: Managing the product is a challenge most of us face before getting into the launch exercise. In order to optimize the FSI, the base product may or may not conform to trends and market demands. Always make efforts to enhance the product value. Check if introducing elements within the existing product is feasible, and adds value to the customer
At Today Global our studies indicated that “Upper Kharghar” has rising demand from young couples who are open to the idea of innovation that shall add value to their lifestyle. This based our tie-up with AHA Homes for “Smart homes”- Our Campaign “EMotion Homes” was well received and reciprocated
Points to remember:
– Utilize as much information as possible to check past trends and competitor
analysis
– Profile the buyers to help “Build the Product Brand Story”
– Create a distinctive campaign to attract prospects
4.Defining the Target Segment:
This comes after the product value is determined
It’s ideal to get to the demographics absolutely right- This may require several discussions and iterations, but this needs to be established
Age, Location, Lifestyle, Ethnicity, 1st/2nd Home Buyers are important attributes that have to be understood
One can source this data from past trends & neighborhood- competition analysis
5.Product Brand Positioning
The product brand positioning is easier to build if the profile of the Target Segment is absolutely clear. “Codename” or “Campaign Names” or “Taglines” are worked around to make it relatable for the “Target Segment” -Your potential customers. The positioning should also conform to the standards set by the corporate brand.
What comes next, are interesting information pieces that would enable further decision making
What ‘re the problems of the Target Group(TG)? How does the product resolve problems of Target Groups(TG)?
What’s the Role of product in their everyday lives?
6.Product Brand Story
Real estate ads lack stories, and hence its always difficult to relate a certain brand communication to a specific brand
The following needs to be kept in mind while briefing agency/curating the story
– Create an interesting brand story that is also in sync with your corporate brand story
– Check if the campaign story is relatable to your Target Group(TG)
– A simple & conversational story is always better than a complex story
– Check if the story is suitable to be played across online/offline mediums
– Ensure the campaign carries positive emotions. An ad campaign with Positive connotations expressing Love, Pride, Happiness is said to have high or
positive valence
– McDonald’s “I’m Loving it Campaign” is a great example of Joy Marketing Campaign
7.Defining the Engagement Model
There are one of the most important levers of real estate marketing and yet the least prioritized. Real estate is more than just transactions- it’s about forging relationships- it’s about how well you manage people. Surprisingly, most developers tend to focus on transactions only, while letting. Engage with key stakeholders like employees, existing customers, potential customers, channel partners & associates. Get clarity on brand objectives & engagement objectives for each of these stakeholders.
I have derived this engagement model after years of experience working with Multiple Brands
Unique Real Estate Engagement Model
Choice of agencies
8.Choice of Creative Agency
One of the most critical assignments is to get a “Thinking Agency” onboard. Companies on a steep growth curve cannot do with small design agency firms The larger canvas has to be understood, the campaign objectives need to be deciphered. In case these aren’t done, the marketing team also doubles up as content creating agency. Agencies focusing solely on the deliverables & campaign layout may prove detrimental on a longer run
9.Choice of Digital Agency
Digital agencies are the protagonists of contemporary times
If I had to handpick the single biggest gaffe within the industry, it has to be handling of social media platforms. They aren’t merely mediums to convey festive greetings, but play a critical role in establishing brand credentials, and fleshing the brand story. Engaging & interactive content amongst relevant segment adds to the brand value immensely. Content shared on Linkedln are important for “Employer Branding” – Projection of “Happy Workplace” and “Employee Achievements” can be showcased effectively
The choice of performance marketing agency is equally important, and so is its constant evaluation on costs: cost per walk-in, cost per lead and cost per acquisition. Set out with a clear brief, a clear plan outline and ensure weekly review of the agency’s performance
10.Choice of PR Agency
PR agencies should have a clear understanding of the company’s vision and the annual operating plan. One must not just look at the quantum of coverage, but the quality of output and impact of the news/article. Invariably the emphasis to PR is given only at the launch of campaigns- this doesn’t prove very effective A successful PR vision should encompass a consistent approach to brand visibility, and making desired impact through communication
Have clear quarterly plans, and perform checks to understand the impact of PR
All PR coverage should be also amplified through the social media, and must also be communicated to partners and potential customers
11.Choice of render agency
Product renders have to be in line with the product brand standing
I have come across multiple instances where the product is premium, however the renders aren’t even half-way there
All products are built to cater to the aspirations of the Target Segment, and product renders play an important role in building these aspirations
I reckon, irrespective of the product category- investing in quality renders is a great marketing investment
12. Media Planning approach
The choice of mediums for building a comprehensive media plan needs needs to be backed by thorough analysis of data
The plan needs to be dynamic & changes have to be guided by analytics at each milestone of the campaign
A good understanding of the sales velocity, parameters that affect the velocity and maneuvering the campaign comes handy
Any disproportionate spend on ATL can impact the budgets, and may cause cost overruns
This is a sequential flow of communication that enables purchase: Notice-Discuss-Act-Reaffirm-Act
Let’s quickly understand the value of mediums in marketing communication
Hoardings: {Notice} Hoarding creatives should be noticeable. If the impact is good, and the ad connects, a prospect may discuss it before connecting with the Brand. These are critical product awareness tools for primary markets. I have come across hoarding creatives that can be best referred to as a clutter of messages
Digital: {Notice, Act & Reaffirm} Prominent visibility on digital space is extremely important in contemporary times. Social media & google ads have become a great medium for people to notice the brand & act. Customers today also tend to reaffirm their purchase decisions through reviews and recommendations available online-Keep a close watch on the review section of the brand.
An impactful well spread campaign can cover the primary and secondary markets- This backed by a great digital PR is formula for a great digital campaign
Print: {Notice, Act & Reaffirm} Print should be used very judiciously, since this alone can lead to cost overruns. Balance the ads in print with paid advertorials
13. Experience Center Branding
Successful campaigns always work at 2 levels
i) The umbrella campaign that works on offline/online helps create awareness, and gets the prospects on site
ii) The campaign on site that effects conversions- This is largely built on brand & product credentials and reaffirms customer’s decision to purchase. Tactical campaigns form an integral part of communication once the prospect is on site. These are opportunities that the customers wouldn’t want to miss
14.People:
They are the most vital elements, when it comes to making of a campaign, and also making of a great brand
The summary of a great campaign is “Meticulous planning and a great execution”- It’s always the people who traverse these journeys, and are the most valuable assets. Organizations shall need to hire sales & marketing workforce that have a reasonably high Emotional Quotient (EQ). This shall enable brands to be consistent in communicating with consumer on all touchpoints According to a 2019 Capgemini Report “Organizations benefit from employees who display a high EI quotient: – Top benefits for organizations include enhanced productivity, high employee satisfaction, increased market share, and reduced attrition ”Organizations can achieve returns up to four times higher by investing in EI skills such as emotional learning & development, and make EI prescreening mandatory especially for customer facing roles”
15.Motivation at all Levels
Motivation for employees both intrinsic as well as extrinsic is extremely important
Most companies in the industry value extrinsic motivation such as salaries, bonus, increments, rewards, recognition etc while giving little value to interests of the employees. Intrinsic motivation can come with employee engagements that aren’t demanded by employees, but are built on their interests- viz. “learning new skill-sets”, ” wellness workshops”, “cultural events”, “sports tournaments” etc. These engagements can be centered around the organization’s core philosophy and an annual calendar with budgets need to set this up
16.Customer Experience at all levels
I recently had an interaction with a tele caller who convinced me that this launch product was promising and presented a great investment proposition. I visited the website of the product for a quick reaffirmation and decided to visit their sales office/ experience center on the following weekend. The experience up until now was nothing short of exceptional! However, the 3 hours spent at the experience center was a nightmare! They took me through a loud stretched audio visual, kept me waiting for close to 2 hours to start discussions with the sales manager, and finally arranged a dusty stinky vehicle to visit the project site
Standardization of customer experience at all levels, and ensuring consistencies across sites is paramount in the entire sales process.
What’s the story you are telling? How are you telling the story? How do you build sequential communication at each stage of sales? Are you able to create customer delight at all touchpoints?
These are all important to be highlighted right at the onset, and then look for mediums that may amplify the impact of experience
17.Maintaining Timelines
Timing is everything here! Real estate marketing is all about riding seasonality and keeping up with the timelines
Do whatever you may- start preparing well in advance, make a pact with the management to provide approvals at the quickest, but ensure timelines are met. Make the best of creatives, but if the time isn’t just right to trigger a digital, sms or a print campaign, it may not work at all.
18.Creating Differentiators
It’s quite difficult to distinguish campaigns (one from the other), since there are repetitive usage of stock usages across campaigns. The campaign needs to have a differentiating character- It’s important for creating differentiators (at campaigning) in a crowded market. There was a phase when “0” was being overused across campaigns (0% SDR/0 Floor Rise/0 Booking Amount) which wasn’t lending to the product value moreover, the campaigns across the region would all look the same
19.Dashboards- Things to watch out for during the campaign
One needs to visualize the entire sales program spanning over 2 months. The graph in the shape of plateau need to be maintained throughout the duration of the campaign. That’s where one needs tactical plans and events to engage with all stakeholders
Also, keep a watch on the following to be able to decide on tactical offers
– Target Vs Achievement (Sourcewise)
– Reasons why customers didn’t book
– Demographics of visited customers
– Inventory analysis fast moving Vs slower ones
– Product wise average realization
20. Direct Business
The dependence of the campaign is largely on the distribution, or “Channel Partner” sourcing vertical. This exerts a lot of pressure on this vertical, and also increases spends disproportionately. While channel sourcing is always going to hold prominence, companies must look to balance this well with a direct sales team. This team should focus on sourcing leads through all direct verticals including reference, loyalty and BTL
The progress amongst all direct verticals is guided by the sequential engagement with the prospects
