Given the competitive nature of New Zealand’s residential property development market, it is imperative that your development speaks to prospective buyers and stands out from the rest.
In the past, it has predominantly been the large scale developments that have utilised branding strategies to attract purchasers; however, this has all changed in recent years. Small to medium scale developers are now harnessing the power of branding to push their sales through. With more options available in the property market, buyers can become more selective when they are shopping for a home or investment property. They are looking for not just a property or home, but a lifestyle that speaks to them.
This is where a brand strategy comes in. Having a strong brand that resonates with your target market is a critical part of a real estate marketing plan. Here are 4 reasons why branding your development should be part of your marketing strategy and how it can lead to an increase in sales:
REASON #1 – BUILDS TRUST & CREDIBILITY
Buying a property is a significant financial investment and commitment for most; it is a decision based on a variety of factors, and one that is not taken lightly. Because of this, trust and credibility play an essential part in the buyer’s process; particularly as in most cases, they cannot physically view the property that they are purchasing.
When prospective buyers experience high quality, cohesive branding and design from the moment they engage with your development, they are more likely to trust that this standard will continue beyond the sales experience. It helps them to feel confident that they will be delivered what is promised.
REASON #2 – CREATES A SENSE OF COMMUNITY
Beyond renders, floor-plans, site specifics and price, what do future homeowners want? They want to be a part of a community in some form or another. By creating an influential brand, people can feel like they are a part of their little community inside a large city. This is achieved through advertising a lifestyle, not just a home and property. Giving the development a personality allows the buyer to have an emotionally engaging and memorable experience that continues beyond the project’s completion and helps to build connections with the other property owners.
REASON #3 – TARGETS THE RIGHT PEOPLE
A carefully considered brand speaks to your target market. This could be a specific age demographic, income level, ideals, e.g. eco-consciousness, quality minded, families, investors, first-time buyers and many more. The messaging, design and tone used through the brand and marketing strategy reflects the buyer’s persona and the more work done to understand your audience, the more likely you are to market and sell your properties to the right people.
REASON #4 - MARKETS YOUR COMPETITIVE ADVANTAGE
Thoughtful branding and marketing highlight the residence’s unique selling proposition. This could be anything from location, proximity to desirable places, an up and coming neighbourhood, views, high-end design features, property type, size, price and quality. Branding, design and thoughtful marketing spotlight these advantages and allows your development to stand out from others.