Marketing is an intrinsic part of any business development, including the property market. The property business is complex, whether in the UK domestic market or overseas. Despite the current economic downturn UK banks still advise that a well-capitalised property development business is one of the sectors that may well succeed in riding the current storm.
Make a plan and broadcast
Once the business has established its direction and area of interest, the next step is to make a plan. If the refurbishment sector is the target it is necessary to ensure that there are enough skilled trades people on hand to renovate the properties. If the houses are to be let, place advertisements with both high street estate agents and internet sites. This will help establish the brand and also allow prospective buyers or tenants to arrange viewings. If the business specialises in offering United States houses for sale, for example, ensure that listings appear on websites, not only in the USA and UK, but also internationally.
Testimonials can be helpful for publicity brochures and the company’s website. These should demonstrate that the business is responsible and should also promote the brand. Contacting local media is also a good idea. Ask any existing customers if they would be willing to be interviewed by the media; this type of positive publicity is worth its weight in gold. If the business belongs to one or more professional associations make sure that website and all the promotional material carries the association’s logo. It is also worth checking to see whether the association will promote the company on its website. The support of an accredited trade association goes a long way to reassuring nervous investors and helps bring the company to the attention of a wider audience.
Events and budgets
Draw up a list of potentially interested parties and hold an event. Make sure that the company brand is displayed clearly and also use pictures and videos, especially if marketing properties overseas, so that potential customers can get an idea of the type of property or land that is on offer. Trade fairs offer a superb exhibition opportunity, so contact organisers to gain an impression of the type of companies they promote and ask to see a video of previous events. If it is felt that the company will benefit from having a stand at one of these events, then go ahead.
When drawing up the marketing budget make sure that enough resources are allocated for promoting the brand. Marketing is all about the successful selling and promotion of a product and it is essential that the public is made aware of the brand. Customers also need to be confident that the company will do all that it promises and that the property development opportunities offered are right for them. Never make assumptions about the consumer’s knowledge base, help them understand the company’s aims and then broadcast them as widely as possible. Make sure that all promotional material is as high quality as possible; it is far better to invest in effective and selectively targeted publicity than to rely on a scatter gun approach, using cheap and badly produced material.
(Source: United States Houses for Sale)