In the real estate project marketing world, there is a sales funnel methodology that has been used for many years.
Essentially, small bites of information are set out like a trail of bread crumbs, in an effort to attract prospects and lure them into engagement. Intrigued, people pre-register.
Next begins the dance. New versions of the promotional campaign include a bit more information, and urge further registrations. When the flow of registrations slows, more information is slowly released.
Simultaneously, the sales team works the leads, emailing and/or calling registrants to determine their level of interest.
During good times, this method can create lineups of buyers the night before a project sales centre opening. In bad times, which we witnessed not so long ago, it is less successful at creating this kind of response.
So what’s a better approach?
Marketing journalism, or a commitment to providing a consistent stream of stories to the marketplace that will predispose buyers to your sales messages.
Marketing journalism is about communications campaigns that can propel a more long-term, sustainable approach to real estate project marketing—one that ensures the right people for your project find you regardless of the market conditions, and one that ensures your own corporate brand is burnished and made more valuable as each project is launched, sold and completed.
It’s about telling stories about the region, the neighbourhood, the building and, of course, the suite features.
But it’s also sharing information and telling stories about demographic predictions for the area from credible third-party sources in the area, or civic plans for the surrounding city blocks.
And don’t forget the micro stories. Why did you choose those appliances and that construction company? Where are the electrical outlets? Why?
Providing all of the “news” about a project up front, rather than through the traditional drip-feed of information, will give prospects a lot of facts to consider. And the better informed they are, the more likely they are to self-qualify.
Rather than sifting through thousands of registrants, you’ll start to find that the registrants you are talking to are more knowledgeable and, to some degree, already more than vaguely interested in buying.
This is an adapted excerpt from David Allison’s free real estate development guide, Branding Buildings Better.