Property development has been strong and continues to be on the Eastern seaboard through 2016.
Developers from both overseas and other states have focused on Sydney as part of a longer term strategy. Competition for buyers is high and demand for sites within 12kms of the CBD or along the announced infrastructure corridors, in turn, is fuelling the Sydney market and increasing the need for strategically led, best practice marketing campaigns.
The keys to being positioned for success with a development can be traced back to 3 key drivers;
1. Authentic Story - Having a vision of the development and the way people will live, work and play is essential. How they are in proximity and connected to nearby amenities or city centres all contribute. What other changes will this development bring to the local area and what style of people and families will it attract? How do they see themselves living, working and playing day to day?
2. Tools - With competition increasing to get buyers attention, how the developer or sales agency engage the market and its buyers is more critical. Being able to attract the buyers is essential, by crafting the narrative towards a closed sale. Without the right quality tools, sales agencies may be reluctant to take on certain projects if they don’t feel their team aren't positioned for success. Attracting the right buyers, with the right brand assets, especially at the premium end, ensures an authentic story and the right representation to close the sale.
3. Targeting Buyers - During the workshop, immersion and research phases which lead to the strategy, we uncover a compelling and authentic story. Strategically led creative is a must to find the unique benefits and identifying buyer segments occurs.
Engaging buyers and keeping them interested can be challenging. With increased competition within the Sydney market specifically, the ongoing release of high quality product in the same or close proximity to existing developments, is it important to not only attract the buyer but keep them engaged and continue to keep the project fresh and the story evolving.
With the increase in state duties, the offshore investor buyer weighting is predicted to reduce with local buyers becoming a increasing percentage. They are more familiar with the local areas featured in campaigns, and will be looking for more information to confirm that their future growth in their local area, as they either become a first home buyer, investor, upgrader or down sizer, will eventuate.
Astute purchasers will drill into future plans for the area, within the campaign story, they will look for additional evidence because it maybe their largest possible investment. Buyers will look to verify the story by visiting the area and where possible talking to friends and family, getting their opinion and experience of that projects surrounds.
Effective marketing campaigns continue to deliver new information at the right time to continue the conversation, increasing ’stickiness’ and leading to the sale.
THERE prizes itself on being able to discover the untapped benefits of a project and through strategic led creative, develop brands and memorable stories that engage, facilitate the sale and remain way into the future.
For more details when considering your next marketing campaign for a residential project contact the Team at THERE.