Top 5 Project Marketing Challenges (And How We Overcome Them)
May 4, 2022
Marketing and selling real estate developments isn’t a “set it and forget it” process – at least not at Momentum.
There’s no standard approach that will work for every project and builder, and in every market scenario. Whether we are working with luxury detached homes, modern townhouses or trendy condos, each new construction development is unique by nature, and so should be the strategies designed to promote them.
Despite the widespread perception that the Lower Mainland’s real estate market is in a perpetual “hot” mode, reaching the right prospects and converting them into buyers is no easy task. We’ve put together a list of the 5 top challenges property developers face when planning the sale of a new project, and the solutions we’ve created through our 25+ years of experience.
Marketing and selling real estate developments isn't a "set it and forget it" process – at least not at Momentum."
1. Creating & Executing A Cross-Channel Marketing Plan
Having a “cross-channel marketing plan” sounds cool – but it’s definitely easier said than done. Curating the project’s brand exposure across digital and physical channels, while controlling any customer interactions requires a LOT of big picture planning and a well-timed and meticulously prepared execution.
The Momentum team offers a hands-on, full-service experience from inception to final sale, which allows us to build a rock-solid marketing foundation to attract quality leads. It is essential that we know our product and its intended audience, so we are often involved with each project at a very early stage.
Our cross-channel marketing plan focuses on storytelling, which means that prospects will see themselves and their family reflected in the visual identity we develop for each new property. The messaging, look and feel of our digital and physical marketing materials are always consistent, creating a cohesive customer journey for the target audience.
2. Building Brand Awareness
Customers today have access to information on any subject 24 hours a day, 7 days a week. This reality makes breaking the “noise”, standing out and, most importantly, being remembered a constant challenge.
At the heart of it, we strive to tell a compelling story and create a strong point of view so that our marketing strategy goes beyond the standard “we sell homes” approach. Our game plan revolves around leveraging what makes each one of our projects unique (eg. location, type of construction, interior design) to build brand recognition.
3. Connecting With Your (Right) Audience
In a world where people are overwhelmed by advertisements everywhere they go and in every device they use, finding the right audience can feel like trying to find a needle in a haystack. When you do find them, here comes another challenge – engaging in a meaningful, authentic way. Establishing successful connections with prospects is not about following a “sales script”; customers can see right through it and are left feeling like they are just another lead for salespeople.
Our team understands that Purchasers have created a world where they are (and enjoy being) in control of the vast majority of the sales process. At Momentum, we believe that all good business relationships begin with good communication and a more personal approach. That means that we put in the time to get to know our audience, what their needs are, and how we can achieve their goals.
4. Navigating The Ever-Changing Digital Advertising World
Talk to any digital advertising expert and you will quickly hear all about how their world is in constant change. Nowadays, a well-planned and -executed digital strategy is at the core of any successful new home development. This means not only having the right message and graphics but also knowing how to work with all technical aspects behind some of the latest technology.
Given these ever-changing challenges, we strive to provide the highest level of expertise and control over any campaign. Having an in-house digital marketing specialist not only brings a lot of technical experience to each project but also allows us to make updates in real-time and keep our messaging and imagery consistent across all digital platforms.
5. Understanding Your Results Throughout The Sales Period
Can you quickly (and confidently) tell at any given moment which channels your customers are coming from and what brought them to you? Even if you have all the data you need to answer that question, organizing it in a way that makes sense and allows your team to draw conclusions that might lead to actions is a challenge in itself.
At Momentum, we are big fans of clean, organized data and full transparency! We use a real estate-specific CRM and first-rate software to create comprehensive weekly and monthly reports that tackle all the key performance indicators. We also include an easy-to-read summary of the highlights so our clients know exactly what results are coming from our efforts.
Marketing a real estate project is a complex undertaking with a lot of moving parts – but it’s one you can succeed at with the right, experienced team. With the capability of planning, designing and executing our strategies in-house, Momentum has the ability to launch real estate projects that are set for success from beginning to end.