Hunters Knoll Marketing Strategy


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Hunters Knoll Marketing Strategy

  1. 1. Marketing Strategy <ul><li>Midview Management Corporation </li></ul><ul><li>Hunters Knoll </li></ul>
  2. 2. Introduction <ul><li>Jessica Bankston, freelance marketing consultant, specializing in residential and commercial real estate - 2 years </li></ul><ul><li>Advertising Coordinator for Ryan Homes Richmond market - 2 years </li></ul><ul><li>Marketing Director for D.O. Allen Homes - 4 years </li></ul>
  3. 3. Agenda <ul><li>Part I - Research </li></ul><ul><li>Part II - Traditional Marketing </li></ul><ul><li>Part III - New Marketing </li></ul><ul><li>Part IV - Questions </li></ul>
  4. 4. Part I - Research <ul><li>Define the asset, prospect & competition </li></ul><ul><li>Conduct competitive market analysis </li></ul><ul><li>S.W.O.T. </li></ul><ul><li>U.S.P. </li></ul>
  5. 5. Define the Asset Hunters Knoll: A single family community with spacious lots Growing Varina location Custom homes for move up buyers What else?
  6. 6. Define the Prospects Pricing in the $200,000s = affordable financing 4-5 Bedrooms Open or formal plans 2 car garages Perfect for young or growing families
  7. 7. Define the Competition
  8. 8. Define the Competition Study your competition’s: target audience & marketing floor plans price points standard features upgrade and change fees determine where you might be at a disadvantage by doing a...
  9. 9. S.W.O.T. analysis <ul><li>What are Hunters Knoll’s strengths? </li></ul><ul><li>What are Hunters Knoll’s weaknesses? </li></ul><ul><li>What are Hunters Knoll’s opportunities? </li></ul><ul><li>What are Hunters Knoll’s threats? </li></ul>
  10. 10. What is the U.S.P.? What does Hunters Knoll have that no other new home communities in the Richmond area have? Differentiate your development from the competition.
  11. 11. “ ...a strategic approach to market research and analysis will equip you with the insight — and just as importantly, the confidence — you need to accomplish your goals and navigate through a difficult housing market.” -David Rice, New Home Star Market Research
  12. 12. Communicate your findings in your marketing
  13. 13. Part II - Traditional Marketing <ul><li>Community Appearance & Signage </li></ul><ul><li>Direct Marketing </li></ul><ul><li>Events </li></ul><ul><li>Print and traditional media </li></ul>
  14. 14. Community Appearance & Signage <ul><li>Is signage clearly and properly positioned to direct traffic to the community from all major traffic veins? </li></ul><ul><li>Is signage bright, fresh and clean? </li></ul><ul><li>Signage includes: A-Frames, permanent signage, flags, starbursts, balloons, lot signs, etc. </li></ul>
  15. 15. Direct Marketing <ul><li>How have the surrounding or identified move-up buyers in the area been contacted? Any potential move-up neighborhoods for doorhangers, fliers? </li></ul><ul><li>Is there a schedule for contacting the REALTOR ® community with news, specials, etc.? Regular fax or printed fliers delivered? </li></ul><ul><li>Printers are suffering; printed and mailed direct mail pieces are expensive and difficult to track. </li></ul>
  16. 16. Events <ul><li>Open houses held weekly: Sundays 1-4 p.m. </li></ul><ul><li>Potential REALTOR ® open house event, offering food, give-a-ways for “bring a prospect”? </li></ul>
  17. 17. Print & Traditional Media <ul><li>Builders turning away from costly, hard to track, print advertisements. Will still see some Ryan Homes ads in the RTD because “they have the money to keep presence” </li></ul><ul><li>Traditional media is suffering against gaining strength of iPod, TiVo, Internet, and Smart Phone technologies </li></ul><ul><li>If you can afford it, do it STRATEGICALLY. </li></ul><ul><li>Negotiate, negotiate, negotiate! </li></ul><ul><li>Traditional media is no longer enough... </li></ul>
  18. 19. “ When asked where they first learned about the home purchased, 36 percent of buyers said a real estate agent; 36 percent the Internet; 12 percent from yard signs ; 6 percent from a friend, neighbor or relative; 5 percent home builders; 2 percent a print or newspaper ad; 2 percent directly from the seller; and less than 1 percent a home book or magazine.” -Nov. 2009 NAR Press Release
  19. 20. Part III - New Marketing <ul><li>Website & Blogs </li></ul><ul><li>Direct eMarketing </li></ul><ul><li>Online Video </li></ul><ul><li>Social Media </li></ul>
  20. 21. Website & Blogs <ul><li>A fresh, search-engine optimized web site is essential </li></ul><ul><li>Blogs are FREE, easy to set up and regularly maintain, and are great “friends” with search engines </li></ul><ul><li>What comes up when people search for Hunter’s Knoll? </li></ul><ul><li>What comes up when people search for new homes, Richmond? </li></ul><ul><li>Builders & brokers often how have an “Internet Sales Specialist” </li></ul><ul><ul><li>“ I had 7 internet appointments scheduled last week” -Ryan Homes Sales Representative </li></ul></ul>
  21. 27. Other web presence <ul><li>Basically all print advertisers offer a web advertising component, some separately </li></ul><ul><li>MLS..., </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li>Many have partnerships with many other sites </li></ul>
  22. 28.
  23. 29. Direct eMarketing <ul><li>LOW COST ($20-50 per month) via services like iContact or Constant Contact </li></ul><ul><li>Customizable </li></ul><ul><li>Highly trackable: open rate, click-through rate, forward rate, unsubscribes </li></ul><ul><li>Keep a clean list of prospects </li></ul><ul><li>You can conduct surveys & polls </li></ul><ul><li>Format a blast for all REALTORs. </li></ul><ul><li>Many builder software programs such as NewStar and Meridien incorporate prospect management with trackable email marketing schedules </li></ul>
  24. 31.
  25. 32. Social Media <ul><li>It’s FREE. </li></ul><ul><li>Word of mouth on the web </li></ul><ul><li>It’s FREE, and you control content </li></ul><ul><li>Advertisers on Facebook: Ryan Homes, StyleCraft Homes, Chris Small Real Estate, Snipes Properties </li></ul><ul><li>HBAR offered a seminar on social media for builders on November 3rd </li></ul><ul><li>Did I mention it’s FREE??? </li></ul>
  26. 34. “ Social media is now a ‘how’ question for businesses, not an &quot;if.&quot; Most brands have moved beyond the internal debate of if they should be involved in social media or not, and are moving on to consider how they will approach it. The early adopters have earned their early lead, but it might surprise you how quickly brands that started a little slow are catching up.” -Andy Sernovitz,
  27. 35. “ The biggest value that we have seen from social media is primarily through media and REALTOR® relations...” -Steve Shoemaker, director of marketing, Ideal Homes in Oklahoma “ Like any marketing tool, Twitter [and social media] will only pay off with an investment of time and effort. As the sites’ influence grows and more users participate, the potential for reaching home buyers, REALTORS® and media through [social media] only increases.” -Carol Ruiz, Vice President of PE at red rocket LA
  28. 36. Online Video <ul><li>People want to watch things </li></ul><ul><li>Power of interactivity: People want to share it, it goes viral, easy for you to communicate a message and have others do the same </li></ul><ul><ul><li>in January 2009, 39% of respondents shared a video online. </li></ul></ul><ul><li>Online video is the fastest growing media platform in HISTORY </li></ul><ul><ul><li>In one week in January 2009, 97 million Americans viewed a streaming clip online -- as many as are tuning into any major broadcast network -- according to a recent survey of 1,000 U.S. active Web users ages 16-65. </li></ul></ul>
  29. 37. What makes good content for online video and social media? <ul><li>Testimonials </li></ul><ul><li>Floorplan “of the month” </li></ul><ul><li>Homesite “of the month” </li></ul><ul><li>Highlight products or vendors used </li></ul><ul><li>Sales incentives </li></ul><ul><li>Neighborhood or community news </li></ul><ul><li>Helpful articles & news for homebuyers </li></ul>
  30. 38. Resources Provided <ul><li>Blank competitive report </li></ul><ul><li>Blank 2010 marketing budget planner </li></ul><ul><li>Checklists for email marketing effectiveness </li></ul><ul><li>Digital Body Language PDF </li></ul><ul><li>Email Best Practices PDF </li></ul>
  31. 39. Part IV - Questions