There are many moving parts in land development, and marketing is one that is often overlooked. Budgeting, building codes, and environmental assessments may seem more important on the surface, but your marketing strategy also has the potential to make or break the project.
The most profitable developments are the ones which have a solid marketing approach in place long before the grand opening. Otherwise, how would anyone find out about the project?
Market Research
If there’s not a market for the project, it doesn’t matter how well-built it is or how great the location: it won’t sell. This is why it’s so important to conduct market research from the beginning.
The best way to determine the market is to find out what potential clients are looking for. This can be achieved by interviewing and surveying locals and community leaders to find out what they want in their community. Is there a demand for your building? What can you do to differentiate your project from competitors?
Use their answers to help shape the project and increase the likelihood of success.
Know your competition
In a competitive market, you need to stand out. In addition to the community outreach research, it’s recommended to study the competition and how they run their businesses.
How do they market themselves? What are their rent prices and locations? How are their facilities?
Keep a detailed log to help inform future marketing strategies.
Branding
Branding is what makes your business recognizable, and can encompass a wide range of topics.
The name of the project has to catch people’s attention and draw them in. It needs to make a statement and stand out from competitors. Before committing to a name, try to do research on available website domains. If all the names of the development are already claimed, that could cause difficult down the line for customers trying to find the website.
Other important branding elements include creating a slogan. It has to be catchy but memorable. “Just do it” by Nike, for example. The same goes for the logo design. The aim is to create a simple design that people immediately associate with the brand.
Create a website and landing page
Building up an established web presence is key for any real estate development. Creating a proper website can be challenging for beginners, which is why we recommend beginning with just a landing page that has enough basic info to pique community interest. The landing page should include a mailing list signup, and links to the project’s social media accounts.
Initially, a landing page should be enough to get the ball rolling, but as the project moves forward, there’ll need to be a proper multi page SEO-geared website, with detailed information about the development.
Include as much information as is available: descriptions of the project; floor plans; neighborhood details; any building or development credentials. If you’ve worked on past developments, a few testimonials from former clients should also be included
Social Media
Websites like Facebook and Instagram can be used to directly interact with the community and create a distinct brand “voice.” An active online presence goes a long way toward generating potential leads, increasing project awareness, and creating a buzz around the project.
Social media ad campaigns are extremely effective and can be used to target locals and help drive traffic to the main landing page. Video ads are particularly helpful for giving clients a visual reference for the upcoming project.
Virtual tours
For upcoming and new construction projects, virtual tours are a successful method of showing off the future space. Using 360-degree photos and videos, the exterior and interior of the building can be showcased and viewed by clients right from the comfort of their homes and offices.
With CGI (computer generated images) technology, developers can even showcase projects which haven’t been completed yet. For locals curious about the development, a virtual tour helps create genuine hype for the project.
Physical advertising
As useful and prevalent as digital marketing is, traditional physical advertising still has its place. Creating eye-catching signs and banners placed throughout the community, can play a large role in maintaining community interest.
Signs around the building itself can be used for keeping people updated about how many units are still available in the case of a residential space, the approximate time until project completion, etc. These signs can produce more leads while familiarizing people with the brand logo and slogan. Make sure to list the website and any social media accounts on the signs in order to create more traffic.
Work with marketing professionals
When it comes to real estate marketing, sometimes the best thing to do is work with the experts. At APX West, our seasoned professionals have the experience and knowledge necessary to guide you through the complexities of land and brand development. Contact us today at 928-412-3570 and let’s get started.
