Does the property industry deliver effective marketing?
In an increasingly competitive property market, effective marketing has become crucial for property companies to stand out and attract potential buyers. A recent survey highlighted that 53% of marketing leaders in property are struggling to create effective marketing campaigns due to a lack of business strategy and customer data.
The challenge of making property brands truly stand out adds another layer of complexity to marketing in the real estate industry. In this blog post, we’ll explore the opportunities that exist for property companies to overcome these challenges and deliver more impactful marketing campaigns. We’ll draw insights from an interview with the owner of a Hampshire-based bespoke marketing agency that specialises in the property industry.
Understanding Customer Needs
One of the key observations from the interview is the prevalent focus on product-centric marketing among property companies. This approach, while informative about the property itself, often neglects the emotional aspect of buying a new home. Instead of just showcasing the physical features, effective marketing should tap into the potential buyers’ emotions and aspirations.
Highlighting how a new home can make them feel, create lasting memories, and improve their quality of life can resonate more deeply with customers. Many properties fail to capture the data they need to start to personalise their marketing approach.
Challenges for Marketing Agencies
The interviewee raises an essential point about the challenges faced by marketing agencies working with property brands. The lack of visibility into how their marketing efforts resonate with the audience makes it difficult for agencies to fine-tune their strategies.
In the absence of accurate feedback and data, refining messaging and focusing on the most effective channels becomes a complex task. This highlights the need for collaborative efforts between property companies and marketing agencies to establish better communication loops and data sharing.
The Influence of Legislation on Quality
The changing landscape of property legislation, such as the New Homes Quality Board, has significant implications for marketing in the industry. This legislative shift places greater emphasis on the quality of homes and after-sales care.
For property companies, this means that marketing efforts must also align with a commitment to providing a positive post-purchase experience. Effective marketing should communicate not only the features of the property but also the company’s dedication to customer satisfaction, addressing any issues that might arise after the sale.
Opportunities for Enhanced Marketing
Property companies can seize the opportunity to shift from product-focused messaging to customer-centric storytelling. Showcasing how a property can fulfil the dreams and aspirations of potential buyers creates a more compelling narrative.
Establishing better data-sharing practices between property companies and marketing agencies or in-house marketing teams can lead to more informed marketing strategies.
This includes feedback loops from sales, post-purchase surveys, and data analysis to refine messaging and targeting.
After-Sales Care Emphasis
Marketing campaigns can highlight the commitment of property brands to after-sales care, reassuring buyers that their needs will be met beyond the purchase. This builds trust and enhances the overall customer experience.
In a rapidly evolving property market, effective marketing goes beyond just showcasing properties; it involves understanding the emotional needs of potential buyers. Bridging the gap between property companies and marketing agencies, leveraging data-driven insights, and aligning marketing with customer-centric values are key to delivering more impactful campaigns.
As legislation emphasises quality and customer care, property brands can build lasting relationships with buyers by delivering experiences that extend well beyond the initial purchase.