One size does not fit all -- not in T-shirts, not in lattes, and certainly not in real estate.
We're now in the age of...customization. It's an era where marketers have to work creatively and strategically to reach each of their potential buying groups with a unique, tailored message just for them. That means cookie cutter messaging won't work. That means a campaign targeting both retirees and first-time buyers is bound to fail with one (or both) of those audiences. Why? Because rarely will you find a single product that can appeal to all people in the same way -- which means you need to find ways to speak to all of your different buyer segments with messages relevant to them.
One of the biggest mistakes real estate developers make is to use one brand statement to try and reach everybody. In the old advertising days, they used to call that tactic "Spray and Pray" because it involved blindly blanketing everyone with the same message, and hoping and praying it sticks to somebody. But those days are over, and I'll tell you why.
Whenever you use one tagline for everybody, you're wrong nine times out of ten. A first-time buyer has different wants, needs and desires than an empty nester or an international buyer. A Canadian buyer has different needs (not to mentioned different prices) than an American buyer. Realtors (who likely contribute 70 percent of your sales) don't want a brochure with the same information as the single mother buying her first family home. These diverse groups don't come from the same generation or profession, the same region or country, they don't listen to the same music, don't yearn for the same things for their future -- so why create one website with one tagline that tries to speak to them all? It shouldn't be done because it doesn't work.
Eventually, you'll realize that you have three different buyers: investors, first-timers and empty nesters. And, if you have three different buyer segments, you should first be creating three different messages. The good news is that it's not expensive. Because most of the marketing you will do is digital, you can create a different Web experience for the investors, a different Web experience for the single first-time buyers, and a different Web experience for empty nesters.
It might sound complicated, but it's not when you break it down. Start with three different website addresses (unique URLs) that focus on the information (particularly the home page) that each audience would want to hear. Investors generally don't care about the esthetics of the home; instead, they want to know about the commissions, contracts and closings. The site should answer all of their financial questions about the rental market, typical re-sale value in the area and other more left-brained concerns. First-time buyers, on the other hand, want to know that the area is young, sexy and hip. Does the place have Wi-Fi and iPod docking station? Their website should focus on these details, and use fresh imagery that would get their attention. The third group, the empty nesters, usually want a lot of floor space, storage and two or three-car garages. They'll want their pets to move in too. They are less interested in financing, with many of them paying cash because they will be selling a property at the same time.
One last thing: when you're looking to speak to buyers, don't forget the ones who might be right in front of you. Let me give you an example: My company, N5R, was asked to consult on a project in Mississauga -- near Toronto, Canada -- which has a very competitive condominium market. The project underway was called Onyx and it was stunning. The developer was doing a lot of marketing in the Greater Toronto area, but it was the kind of enormous marketing spend that wasn't trackable or measurable. So we started to analyze where the buyers were actually coming from. After some careful research, we found out that all of the buyers were coming from the three postal codes right next door to the building. What does that mean? It means that any marketing should heavily consider buyers within one to two miles of the property -- so make sure to create messages that target them too.
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