Replay Board Presentation

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Michael Coyle & Stacey Boltz presentation to Replay Board of Directors

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Replay Board Presentation

  1. 1. Sales Forecast
  2. 2. Revised Sales Projections 2008 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 REAL ESTATE DIVISION UNITS SOLD Founders Village Homes 0 0 0 0 0 0 0 0 0 0 1 1 Founders Custom Lots 0 0 0 1 1 2 0 0 0 1 0 0 Founders Signature Lots 0 0 0 0 0 0 0 0 0 0 0 0 AV Ph 3 Village Homes 1 0 1 1 1 2 0 0 1 4 4 3 AV Ph 3 Custom Homes 0 0 1 0 4 3 0 10 1 1 4 4 AV Ph 3 Signature Homes 0 0 0 0 0 0 0 0 0 0 0 0 Posadas 0 0 0 0 0 0 0 0 0 6 0 0 Beach Club 0 0 0 0 0 0 0 0 0 0 0 0 Hotel Site 0 0 0 0 0 0 0 0 0 0 0 0 Casa Nopolo (1) 0 (1) 0 0 0 0 0 0 0 0 0 AV Condo 1 0 0 0 0 0 0 0 0 0 0 0 0 AV Condo 2 0 0 0 0 0 0 0 0 0 0 0 0 Custom Lots 1 0 0 0 0 0 0 0 0 0 0 0 0 Custom Lots 2 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 1 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 2 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 3 0 0 0 0 0 0 0 0 0 0 0 0 Total Units Sold 0 0 1 2 6 7 0 10 2 12 9 8 57
  3. 3. Revised Sales Projections 2009 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 REAL ESTATE DIVISION UNITS SOLD Founders Village Homes 0 0 0 0 0 0 0 0 0 0 0 0 Founders Custom Lots 0 0 0 0 0 0 0 0 0 0 0 0 Founders Signature Lots 0 0 0 0 0 0 0 0 0 0 0 0 AV Ph 3 Village Homes 3 7 5 0 0 0 0 0 0 16 5 5 AV Ph 3 Custom Homes 0 2 1 1 1 1 0 0 0 1 1 2 AV Ph 3 Signature Homes 0 0 0 0 0 0 0 0 0 0 0 0 Posadas 0 0 0 0 0 0 0 0 0 0 0 0 Beach Club 0 95 4 4 4 4 4 4 4 4 4 4 Hotel Site 0 0 0 0 0 0 0 34 4 4 4 4 Casa Nopolo 0 0 0 0 0 0 0 0 0 0 0 0 AV Condo 1 0 0 0 0 0 0 0 0 0 0 0 0 AV Condo 2 0 0 0 0 0 0 0 0 0 0 0 0 Custom Lots 1 0 0 0 0 0 0 0 0 0 0 0 0 Custom Lots 2 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 1 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 2 0 0 0 0 0 0 0 0 0 0 0 0 AV Village Homes 3 0 0 0 0 0 0 0 0 0 0 0 0 Total Units Sold 3 104 10 5 5 5 4 38 8 25 14 15 236
  4. 4. Sales Initiatives and Programs
  5. 5. What we’ll cover • Current direction and tactics (prior to executing new identity and storyline elements) • Laying a new foundation for the future - the importance of the right storyline for the project • The Replay process • Long term strategies and tactics
  6. 6. Current Direction and Tactics • Change in sales strategy • Discount program on selected lots - Tempo sales v. Event sales • Inn Programs and Packages – drive tourism - Pooling commissions • Pulling product off the market – • Sales office installations limited supply story - On and off site directional • On line initiatives and promotions signage program in progress - Replay news to prospects • Targeted classified ad campaign – price driven - Inn promotions • Limited PR Campaigns in Canada - Using PR to leverage social and targeted markets in the US networking (before Replay gets announced).
  7. 7. Where have we been?
  8. 8. Where have we been? Text Home Page 2004
  9. 9. Where have we been? Home Page 2005 - Present
  10. 10. What was the original story?
  11. 11. Where it all began • Sustainability as the Big Idea • Walkable, Seaside Community • Authentic Mexico • The Anti-Cabo
  12. 12. Where it all began • What Worked? - Sustainability - Affordability • What Didn’t? - Unfulfilled promises - Vision wasn’t financially viable • What Else Happened - Sustainability became ubiquitous - Economic downturn - Storyline lacked sound economic logic
  13. 13. Where Do We Go From Here?
  14. 14. Replay Process Begins
  15. 15. Address Current Reality • Economy • Current perception of Loreto Bay today, by owners and prospects. We need raving fans. • Airlift challenges • Still a developing destination resort town. Needs a vibrancy all its own that truly resonates with people. • Can’t abandon our core audience to date, but people tend to resist change – including visual identities. Evolution of the project must be enticing, exciting, and executed in a timely fashion.
  16. 16. How do we tell a better story?
  17. 17. Step 1 Refocusing Session
  18. 18. Refocusing: What is It? • 15-25 wheredocument • It is page the new story begins to develop • Idea blueprint that translatesfrom an earlier • Two-day process to move in tangible blueprints, drawings, to a new one marketing strategy plans, spreadsheets and manuals • Critical in responding to new market conditions • It is a written contract among all members of the team that are driving this project forward.
  19. 19. Refocusing: What is It, cont. • Began as process of “envisioning” • Used with great success to invent new forms of resort real estate • The outcome of an envisioning session was a Storyline
  20. 20. Refocusing: How Has Process Evolved • Participation limited to a team of the industry’s most knowledgeable and wisest in their chosen field • We will leave agreeing the story (vision) is achievable within budgetary realities • Actionable outcome - vision will be based in reality, but still cutting edge • Magic will be balanced with logic
  21. 21. Refocusing: Our Session/The Objective • Will take place in June • About 20-25 people • The objective will be to re-examine and rethink every aspect of the planning, design and operation of Loreto Bay in the context of current and anticipated market conditions.
  22. 22. Step 2 Creation of a Storyline In a million channel world, brands whose consumers tell the best stories, win
  23. 23. “The mind best understands facts when they are woven into a conceptual fabric, such as a narrative. Disconnected facts in the mind are like unlinked pages on the web: they might as well not exist.” Steve Pinker Harvard University Department of Psychology
  24. 24. Storyline: What is a Storyline? • 15-25 page document • Idea blueprint that translates in tangible blueprints, drawings, plans, spreadsheets and manuals • It is a written contract among all members of the team that are driving this project forward.
  25. 25. Storyline: Why do we need one? • A well executed storyline will not only inform marketing and sales - rather it touches every aspect of programming and development on some level. • It drives the resort.
  26. 26. Step 3 Anticipated Storyline Elements
  27. 27. Storyline Elements: What we are becoming 1. Create a new, broader, more relevant definition of sustainability. Focus on economic and social aspects, not primarily environmental. 2. Must become a destination for tourists - not just a real estate development. Visitors either become buyers, or spread the word. 3. Allow the notion of “regenerative development” to apply to body, mind and soul, as well as the land. Loreto Bay is a place to come and get revived. Renewed. Reenergized. 4. Take full advantage of all nature has provided, Own the land and the sea for miles. Being an attraction as well as a development also allows us to create an ongoing “revenue annuity” for the owners. Programming is critical. 5. Become better experience providers. Must expedite the destination’s viability and create a there, there.
  28. 28. Storyline Elements: What we are becoming, cont. 6. The recreational capital of Baja. Position Loreto Bay as a departure point, an Experience Concierge, to countless experiences within the region, not just the resort itself 7. Based upon the concept of exploration, we are the guide to those discoveries throughout the region 8. New members’ program will be known as The Cortés Explorers Club 9. Develop different forms of real estate products that are more attuned to market conditions - like the Beach Club 10.Build a more symbiotic relationship with the historic town of Loreto to try to ensure that it remains relatively unspoiled - something no other Mexican resort has really achieved.
  29. 29. Step 4 Visual Languaging
  30. 30. Creative Examples: Creative Rationale • Signal that changes are occurring within Loreto Bay • Confirm that the resort is becoming more experience oriented (versus just real estate) • Establish an icon that allows us to begin exploring a broader definition of “sustainability” • Take ownership of an existing UNESCO World Heritage site, Cousteau’s “World’s Aquarium” and Steinbeck’s “exuberant fierceness of life.” • Give meaning to the word “bay” – as in Loreto Bay
  31. 31. Creative Examples: Creative Rationale • Sea (and Loreto Bay’s position as a soft edge between mountain and sea) • Exploration and discovery • Mythology. The giantess of the mountain. The giants of the deep (including the world’s largest squid, rays, and whales) • Stewardship of both the land and the sea
  32. 32. Creative Examples: New Visual Identity
  33. 33. Creative Examples: New Visual Identity
  34. 34. Creative Examples: New Visual Identity
  35. 35. Creative Examples: New Visual Identity
  36. 36. Creative Examples: New Visual Identity
  37. 37. Creative Examples: New Visual Identity
  38. 38. Creative Examples: New Visual Identity
  39. 39. Creative Examples: New Visual Identity
  40. 40. Creative Examples: New Visual Identity
  41. 41. Creative Examples: New Visual Identity
  42. 42. Creative Examples: New Visual Identity
  43. 43. Storyline Elements: New Web Site Text Target Launch May 15, 2008
  44. 44. Storyline Elements: New Web Site Target Launch May 15, 2008
  45. 45. Creative Examples: Web Site Sample Copy “It begins in the teeming tide pools of Loreto Bay and is abundant in the reefs; it spills into the mangrove estuaries and climbs the mountain canyons into the rose-tinged blue of twilight. In this precious geography on the Sea of Cortez, you are the Explorer. As an explorer, you need to get your bearings. Loreto Bay – the Bahia de Loreto – sits in the spectacular embrace of the Sierra de las Gigantes mountains facing onto the glassy Sea of Cortez on the eastern coast of the state of Baja California Sur. It’s at 26 degrees N latitude and 111 degrees W longitude, approximately 550 kilometers (340 miles) north of both busy Cabo San Lucas. The resort is 8,000-acres, stretching from a three-mile beachfront to a 5,000-acre Nature Preserve in the mountains. The town of Loreto, the oldest mission in North America, is just moments away. Clearly, there can be no better base camp for the adventure of life.”
  46. 46. Step 5 The Storyline in Action
  47. 47. In Action: The Cortés Explorers Club • The Club is an example of how the Storyline and the identity have already begun to drive the vision for Loreto Bay and will continue to do so. • The Sea of Cortez was named in honor of Hernán Cortés (Hernando Cortez), Spanish conquistador and explorer • Exploration and discovery are recurring themes in the Storyline
  48. 48. In Action: The Cortés Explorers Club • The concepts of exploration and guiding are based with Abercrombie & Kent, the world’s most illustrious experiential travel company • The theme of “community” is manifested in the concept of club, as it will also soon be in the on-line community that we are beginning to build as a real estate marketing and sales tool.
  49. 49. In Action: The Cortés Explorers Club • Members of the club will have privileged access to recreational, mind-filling and even life-altering experiences not only in the resort itself but also throughout the region, both on land and in the sea • Membership is a passport to adventure – and membership is the only way to obtain that passport
  50. 50. In Action: The Cortés Explorers Club • The two golf-courses associated with the club will be named Azul Grande (Big Blue) for the enormous Blue Whales that migrate annually to the Sea of Cortez and La Giganta, for the mountains (Sierra de la Giganta) which form part of the site • Members of the club will also serve as stewards of the land and of the sea, including the resort’s own 5,000-acre nature preserve
  51. 51. In Action: The Cortés Explorers Club • Establish Loreto as the recreational capital of Baja. • The Training Center will be tailored to help guests achieve greater fitness levels in specific areas that will best serve their activity or quot;explorationquot; of choice, be it kayaking, mountain biking etc. Eventually some of the world's best coaches and trainers may elect to be part of the programs on a seasonal or quot;coach in residencequot; basis. • Establish strategic partnerships with the worlds top vendors (i.e. Trek mountain bikes, North Face, Patagonia) to reinforce the notion that Loreto is, in fact, the recreational capital of Baja. Brand specific programs and components where appropriate (i.e. the Trek or Gary Fisher trail).
  52. 52. Launching the New Loreto Bay
  53. 53. Launching: The First Event • Tuesday, June 10th in Vancouver • Wall Centre Hotel • Attendees will include: - Vancouver's most influential people - Previous purchasers of resort properties - Loreto Bay owners in Western Canada - Local, regional and national media
  54. 54. Launching: The First Event
  55. 55. Launching: The First Event
  56. 56. Launching: The First Event • Strategy - Introduce the room to Replay and the company’s long-term strategy and near-term plans - Transition into the story of Loreto Bay as Replay’s first resort property - Extend an invitation to visit Loreto now or as a special guest of Replay and of the resort for the official opening of The Cortés Explorers Club. - A Loreto Bay real estate exhibit will be strategically placed in the ballroom’s reception area. There is a long-established market for Mexican real estate in Western Canada
  57. 57. Launching: The First Event • The Offer - A persuasive one. We’re working on that. Based on some combination of price and membership that provides an incentive to be interested now
  58. 58. Launching: The First Event • Follow-up - Immediate follow-up within a few days of the event with those who have expressed an interest in Loreto Bay real estate - Ongoing followup with all 750 attendees re chartered travel to the Fall launch of The Cortés Explorers Club - Use this first wave of 750 people to begin creating second and third circles of Replay and Loreto insiders
  59. 59. Rollout of a New Story • Prior to event, introduce to employees, current homeowners, strategic partners and Loreto prospects. • A re-skinned website (which will continue to be refined over the next nine months) will be first real evidence of the new storyline, look and feel. • Collateral • The launch of The Cortés Explorers Club. Early news of the Club position will reinforce the story • The launch of The Beach Club as our first Replay-era real estate offering • Integration in to all traditional and new media marketing elements
  60. 60. Rollout of New Story, cont. • Resort signage • Gear and garb (merchandise) • A series of pivotal events
  61. 61. Who is Our Market Today?
  62. 62. Who is Our Current Market? • Current Buyers: Demographic + Geographic - Affluent baby boomers - Young professionals - Ages 35 to 65 - Married couples - Well-educated - HHI more than $200,000
  63. 63. Who is Our Current Market? • Current Buyers: Demographic + Geographic - 44% of buyers are from California - 20% from Canada - 12% from the United States Northwest - 24% are from 26 other States, France, UK, Saudi Arabia and the US Virgin Islands
  64. 64. Who is Our Market Becoming? • What Will Drive Recreational Real Estate? - One Person’s Misfortune - Authenticity Seekers - Youth Wealth - Leaving a Legacy - The New Prime Time - Slowing Down the Speed of Life - The Importance of the Female Buyer - The Real Value of Real Estate
  65. 65. Who is Our Market Becoming? • One Person’s Misfortune - The downturn in the U.S. real estate market is seen as being an opportunity for Canadians to invest not only in U.S. resort real estate (the Palm Desert being an example) but also in markets, such as Mexico and the Baja specifically, that were being fueled by speculation by U.S. buyers. This “cooling out” period it the ideal time to speak to Canadians, South Americans and even affluent Mexicans themselves about the Loreto Bay story and the proven, long-term ability of this team to change perceptions – of market conditions and of value.
  66. 66. Who is Our Market Becoming? • Authenticity Seekers – “Authenticity is the new luxury.” Authentic architecture. Authentic places. Authentic experiences. Authentic people. Authentic relationships. And authentic stories.
  67. 67. Who is Our Market Becoming? • Youth Wealth – Surprisingly 70-percent of the wealth in the United States has been created in the past 12 years. We are in an Entrepreneurial Age, when someone, regardless of age and, indeed, independent of traditional business acumen, can accumulate RAPID wealth, often in technology-related fields.
  68. 68. Who is Our Market Becoming? • Leaving a Legacy – Many Baby Boomers have “sold their souls, and now they want to buy them back.” These buyers could be drawn to Loreto Bay’s commitment to honor the land and sea.
  69. 69. Who is Our Market Becoming? • The New Prime Time – Boomers are also redefining the very word “retirement”. They see retirement as being an active phase of life – physically, intellectually and even professionally, with many of them embarking on second careers (often in search of a second, preferred, more creative career than their first one). – Being able to “work” remotely bodes well for Loreto.
  70. 70. Who is Our Market Becoming? • Slowing Down the Speed of Life – In terms of real estate sales “…the new urgency is the uncertainty and brevity of life. Baby Boomers in particular want to squeeze as much (meaningfulness) as possible into their lives.” They accept that their bodies will age, but mentally they do not want to grow old. – The expansion of “regenerative development” supports this reality.
  71. 71. Who is Our Market Becoming? • The Importance of the Female Buyer – With real estate uncertainty deepening across America, we’re clearly entering a new era, with new buyers, new buying patterns, and a major paradigm shift is needed. – Most marketers know that 70-percent of real estate purchases are finalized by women.
  72. 72. Who is Our Market Becoming? • The Real Value of Real Estate – Today’s market presents a different kind of challenge – End of skyrocketing prices of real-estate fueled by the speculative buyer and by the seemingly unlimited availability of sub-prime mortgages. – developers who over-promised and under-delivered have also caused buyers to now become more cautious – Buyers now ask more and expect more of the developer-builder they choose to buy from. This is a crucial part of the new Loreto story.
  73. 73. What’s next?
  74. 74. Strategic Overview • Leverage new brand position, expanded market data, fully developed project storyline and marketing infrastructure to launch a comprehensive, fully- integrated marketing effort intended to accomplish the following: • Establish Loreto Bay as an emerging “must see” destination • Create buzz in the market place surrounding both home sales and tourism • Generate leads and traffic required to achieve sales and revenue goals
  75. 75. Going Forward • Introduce non-traditional methods with refined and re-focused traditional tools • Leverage tourism efforts for real estate • Re-Brand Loreto Bay with new look to establish it as a major destination
  76. 76. The Next 30-Days • Introducing “Look and Feel” • Launch New Websites • Refine on line strategy to reflect new brand position • Send Event Invitation • Launch New 2008 PR Campaign - Announce Replay • Launch Specific Vancouver/Calgary Campaigns - mini integrated campaigns (PR, ADVT. etc) • Completion of New Collateral Material
  77. 77. The Next 60-Days • Replay/Loreto event takes place in Vancouver • Refocusing session takes place • Launch strategy for Beach Club finalized • Membership launch finalized • Continue to nurture prospects from event for fall launch • Initiation of on site signage program. Refine on site experience. • New creative completed. Toolbox is ready. • Strategic partnerships for club being established
  78. 78. The Next 90-Days • Complete all models and renderings required for Beach Club and Membership Launch • Initiate marketing for “road shows” - email announcements, personal communication • Tactical elements of beach club and membership in full execution • PR Campaigns taking hold and building momemtum • On line initiatives going strong • Advertising, direct mail, etc. elements in place and ready to execute in support of on-going sales
  79. 79. More to Come • True integration with hospitality • Home owner referral programs • Events • Resales well underway • Grand Openings in 2009 - Beach Club - Golf Course
  80. 80. Lead Generation 2008 • Web Inquiry • Social Networking • Public Relations • Resort Guest - Eco Travelers • Direct Mail • Banner Ads • Friend/Owner • Realtor Referral • Walk-In • Print
  81. 81. Traditional vs. Non-Traditional Traditional Non-Traditional Print Advertising Social Media Marketing Radio/TV/Outdoor Blogging Public Relations Social Networking Direct Mail Social Media Events Newsletters Communication and Referral
  82. 82. Advertising • A combination of base and vertical placements will be used to support overall marketing efforts and Social Media campaign • In-flight magazines have performed and support tourism • Local advertising in support of off-site events • Message designed to drive web traffic • Print will help establish Loreto as “must see” • Leverage PR and editorial wherever possible
  83. 83. Public Relations • Establish Replay as a respected player and trusted source of information in resort development • Focus on amenity development and business development in Baja - tying back to Loreto Bay • Utilize a combination of high level international approach combined with additional emphasis in feeder markets/ especially Canada • Continue integrating tourism and home sales messaging • Further establish Loreto as a destination – the hip, outdoor recreational hub of Baja • Consistently reinforce Loreto Bay storyline in PR opportunities
  84. 84. The Importance of the Internet • 65-percent of resort real estate buyers find their next new homes by referral from friends and family • 65-percent predicate their real estate buying decisions on information they find on the Internet • Give them something irresistible to talk about in our on-line marketing efforts • Make a first-time guest visitor to our resort or to our website feel welcomed, feel “a part of us” at the moment of first contact
  85. 85. Website • Become an interactive community • Meet people from LB who is sharing the spirit and excitement through conversation • Fresh and clean • Easy to navigate
  86. 86. A Myriad of New Web 2.0 Tools to Get Our Message Out Fast!
  87. 87. Don’t “advertise” Join the conversation
  88. 88. Social Media Marketing: Joining the Online Conversation • Social Network Sites – Facebook – LinkedIn – MySpace – Many more... • Blogs • Picture/Video Sharing
  89. 89. Social Media Marketing • Word of mouth can be encouraged and facilitated. • It can’t be faked! • 56% of consumers say they trust their friends and family to influence them on companies and brands • 63% of consumers share content they receive at least once a week • 75% of people forward shared content to up to six people
  90. 90. Social Network Marketing • Websites where people can gather to discuss common interests, share media, explore ideas, complain, praise, etc. • There is a place for every conceivable interest
  91. 91. It’s About Relationships (wasn’t it always?)
  92. 92. It’s Just Not Child’s Play Anymore
  93. 93. Impact of Social Media Sites Total Web Traffic in Millions July 2007 Source: ComScore
  94. 94. It’s Not Going Away... • Facebook • LinkedIn – 67 million users – Over 18 million users – Average 250,000 new users per – More Business Oriented day since Jan. 2007 – Average HHI - $130,000 – The fastest growing demographic is those 25 years old and older – Average Work Experience - 15 yrs
  95. 95. Beach Club Launch Timeline
  96. 96. Beach Club Launch Schedule • Phase 1 (May 1st – August 1st) - Replay/Loreto Bay unveiling event in Vancouver (announcement of fall VIP weekend at Loreto Bay with immediate tours to sell existing inventory) - Loreto Bay envisioning session (key stakeholders to redefine Loreto vision) - Creation of Loreto Bay envisioning piece/full collateral - Create new CRM language system for ranking prospects - Fill pipeline with Beach Club prospects - Conduct full marketing and sales strategy session (written plan as output) - Begin development of new collateral and marketing tools to support Beach Club sales effort
  97. 97. Beach Club Launch Schedule • Phase 2 (August 1st – November 1st) - Beach Club sales office tools complete (overall resort model, graphics, etc.) - Finalize Beach Club renderings and model (working with development team) - Sales team finalized - Begin true whisper campaign - Establish preliminary unit pricing - Launch operations strategy defined (sales office locations, etc.) - Early lead generation (Loreto Bay message with Beach Club mention) - Preliminary sales training (late October)
  98. 98. Beach Club Launch Schedule • Phase 3 (November 1st – March 30th) - Lead generation continues prior to Christmas - Main direct mail (Beach Club specific) first week of January - Begin accepting reservations in mid-January - Preparation of legal documents for Purchaser Guide - Completion of Purchaser Guide (all legal docs, sales contract, etc.) - Final unit price list released in mid-February - Grand Opening Sales Event – March 15, 2009
  99. 99. Gracias

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