How to Stand Apart from Real Estate Competition – Echo Parc Case Study
What do you do when your real estate property is located among several other properties with similar advantages? How to set it apart in such a way that would make your customers want to be a part of your unique living complex? Marketing to the rescue!
What can be done?
- Defining the target audience:
- We’ve studied the potential customers who might be interested in that location in general. This is an important step, which is required to create an offer that would sell.
- Defining advantages:
- Once you’ve got the target audience, you can define the pain points and things that would add to the value of the property, even being surrounded by similar real estate developments. Educate your potential customers and sell them the idea of living in the complex that meets all their needs.
- Creating marketing campaigns:
- Now that you’ve got your target audience and things they would most likely react to, you can launch your marketing campaigns. This includes both online as well as offline efforts. Online marketing includes a website, paid advertising, and videos that give potential customers an idea of what to expect from the location. We have been researching offline marketing (flyers, banners, snail mail, etc.) influence on real estate development promotion and we believe that it can be quite powerful.
The Echo Parc project was built among other similar properties but wanted to stand apart. Its magnificent district plan includes villas, residential homes, a school, grocery stores nearby, a museum and cultural center, sports infrastructure, medical and social institutions for the elderly, a day-care center for the younger generation, and doctors’ offices. An ideal location to purchase a property and enjoy life. Based on this information, we described the personas who could be interested in our client’s development: the younger generation as well as people with families.
The location itself – Bussigny-Ouest – is based on the principles of sustainable development, with the creation of public spaces, the enhancement of the landscaped areas of the Venoge River, as well as a new green setting on the edge of the forest. Therefore, this – sustainable development – was one of the key points that we have highlighted in the marketing campaigns for the younger generation. Another point was the convenient infrastructure, which was a good selling point for people with families.
Once we have described the audience and the selling points for each of the segments, we came to the next step: developing and launching marketing campaigns. To reach the customers, Wild Dots together with the Projectim team, was able to create a dynamic and modern concept that could differentiate Echo Parc from the other properties. The main channel of communication was the showroom on site that featured such tools as immersion and visualization, which helped future buyers to easily project themselves living in Echo Parc and adopt its philosophy.
Thanks to the marketing mix of promotion channels, including offline and online ones, the project was able to stand apart from the competition and the entire 100% of the apartments were sold within 18 months. 44 out of 45 flats were sold in 13 months. We launched the project’s campaigns in October 2018 and the last apartment was sold in February 2020.
Learn more about Echo Parc in the case study.
Learn more about leveraging digital marketing for real estate.