What is Project Marketing – How to pick the right agency

This article will address the question, “What is project marketing?”.

Marketing is essentially about promoting a product or service. It’s closely related to advertising, and in fact, an advertising campaign can be an integral part of a broader marketing strategy.

The approach to marketing will depend on factors such as what’s being sold, the target audience and your budget.

For example, it would be ineffective to market your service in an area you don’t operate just as it’d be a waste of time and money to market a lawnmower to someone living in a high-rise building. Although it’s possible the audience may refer your product via word of mouth, it’s not probable nor is it worth the cost in marketing. The target audience must already want the product or service, or at least have some interest to turn into a sale.

In real estate, project marketing refers to selling properties. At Eton Property Group, we primarily focus on marketing off-the-plan apartments & townhouses that are still under construction.

In this article, we’ll draw on our extensive experience in selling off-the-plan properties to help you know what to look for in a Project Marketer.

When drafting the feasibility of a project, profit is often the main contention point that limits developments going ahead. Project Marketers help you run through the early stages of planning and help you work out if the project stacks up or not. From working out pricing to changing plans and layouts, their main goal is profitability.

Not only is it essential to make sure it makes financial sense, it also makes sense to research how the product will fit into it’s surroundings.

Would it make sense to build an apartment building in a suburb full of large block homes?

How about multi-level townhomes when your main demographic is older downsizers? Could installing lifts as standard help alleviate this?

What about your aspect? Could you face the development in a way that will offer better views and more natural light?

These factors and much more often impact the rate in which sales are made. Your product could be fairly priced, but if it doesn’t suit the purchasers need – sales will be difficult.

Market research is critical to a successful development.

So your project is approved and it’s time to start making money! It’s time to get cracking with some marketing, the extent of each of these depend on the size of the development, but fundamentally all developments can use these elements:

Renders

The first step lies with the biggest selling tool every development must have. Project Marketers work directly with 3D artists to bring your plans to life, using the correct scale, materials and even natural lighting – these help potentially purchasers visualise what life will be like living at your development.

Renders aren’t cheap but it’s important to remember how impactful they are for the sale process. Not only are they used in every other piece of marketing – they dictate the potential purchasers’ first impressions. If a buyer is flicking through your ad online, shown an social ad or even an email – if the renders don’t have an immediate appeal, you have no chance at a sale.

Imagine you’re shopping for a new car online. When you’re scrolling online, it won’t matter if they have a new engine, all the latest tech or even if they’re better than everything currently on the market. If it looks unappealing at a glance – you wouldn’t click on it to find out about those features.

Good renders sell. Great renders sell themselves.

Brochures

The next step is taking those renders and using them to sell the product, amenities and location. Your Project Marketer will organise a graphic designer to put together something that feels luxurious and appeals to your target audience.

Once the design has been drafted and approved, get these printed on high quality paper. The final printed brochures need to represent your development; professional, polished, sleek and modern.

Typically a potentially purchaser will receive one of these after meeting with a sales agent and the physical brochure will be their reminder of the experience they had.

Display Suite & Hoarding

Your potential purchaser loves what they see online? Now you’ve got to get them to a place where they can touch and feel the product. Depending on the size of the project it may make more financial sense to use the Project Marketers’ office as a display suite with a samples box, however as the project grows in size the need to a physical display suite grows.

Your Project Marketer will be able to help you source a nearby shop to transform into a walk through experience of your development.

Alongside a display, any development with a prominent street frontage should consider wrapping the fences in a branded hoarding. Not only does this inform the local, it will spark interest from those who drive past and want to move into the area.

The hoarding will help potential purchasers visualise where the project is, and the display suite will help them visualise inside. The only step left for them from here is to sign on the dotted lines.

Online Advertising

Combined with renders, this is the most important step for financial success. Without a broad online reach you won’t reach your buyer and what better place to target them than a platform they are actively looking for property on.

Realestate.com.au is almost certainly the most important place to be on but that doesn’t rule out other platforms. Websites such as Apartments & Developments, Urban, Downsizer, OpenLot and others similar all connect themselves to a specific demographic that may be beneficial for your project.

Your Project Marketer will help put together a plan in terms of platforms and budgets to maximise your reach to the most engaged audiences.

Social Media Ads

Similar to online advertising, the use of social ads will provide a wide blanket to reach as many people for a fraction of the cost of the major real estate platforms.

Targeting will vary according to demographics. For instance, younger people are more likely on Instagram, Snapchat and TikTok. Older people will be on Facebook & LinkedIn.

Imagine marketing a project in Richmond but your potential buyer has only been looking in Hawthorn through the major real estate platforms. This is where social media can capture people based on their online activities and show them something they may not have considered before.

Although social ads typically have a lower connection rate than the other platforms, the lower cost per lead makes it a competitive option in a full marketing campaign.

Other Forms of Marketing

The routes to market your project are endless. Your Project Marketer should be locked in to market trends and on top of your main demographics buying habits.

Other examples of marketing include:

• SMS and Email campaigns to sales databases to engage warm leads.
• Events for locals, potential buyers and the team to foster a community – Ideal for the downsizer market.
• Billboards on prominent roads to direct commuters to an opportunity to live closer to work.
• Mail box drops to market to those who aren’t as tech savvy.

The list is endless, with a good Project Marketer the sky’s the limit.

You may think that a traditional real estate agent could tackle the sale of your project however the process varies greatly.

Although sales agents are great at what they do, selling a project off a plan is a lot harder than popping an ad online and handing out brochures at an open.

Off-the-plan sales require a complete marketing plan with multiple touch points to convert a lead. You’re not only selling them their dream home off a few drawings, but you’re building trust with them that the team will deliver.

From the very beginning when the development is just some drawings on paper, through to renders, marketing, sales, construction completion and even post settlement – our commitment is to ensure the transition from an idea to results is smooth.

Working closely with the whole development team, Eton Property Group is dedicated to keeping all parties informed and up to date, well after the last property is sold. We are committed to true partnerships with the team and a smooth purchaser journey leading to positive outcomes for all involved.

Choosing a Project Marketer is critical for a success story.

Think about what a buyer would say about your project if they saw your marketing assets. Would you want the consensus of the public to be ‘cheap corner cutters’ or do you want ‘elegance, luxury and trustworthy’.

People don’t buy your product, they buy your vision. 

If you’re looking for a full service Project Marketer to take your development from an idea to prosperous endeavour – Contact Eton Property Group today.