INSIGHT

Knowing your target market for each unique development – and styling your project to engage with that specific market – is one of the main keys to successful property development marketing.

Recognise this, rather than approach every project with the same generic marketing ideas, and you can achieve genuine results.

It’s all about starting with the end in mind.

Do you truly know your target market?

Identify them, then cater to them – in a visual language they appreciate and understand.

Use the demographics of the suburb, combined with the nature and culture of the surrounding area, to help you plan the best marketing strategy for your property development.

With your target market clearly defined you will:

  • Create clear guidelines to your suppliers and consultants
  • Style the project to satisfy actual demand
  • Identify your project’s best possible finish and fit-out
  • Market your development effectively
  • Sell your project faster

ACTION

4 Marketing Habits of A Successful Property Developer 

  1. Understand your target market
  2. Understand your target market’s needs
  3. Understand the price points that lets your product connect
  4. Deliver up-to-date styles in building design and finishes

“No matter what business you’re in, one thing is certain – failure to act and stay relevant is your competitor’s gain.”

PROOF – CASE STUDY

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Peninsula Blue Developments, Frankston

For an upcoming 17-storey development in Frankston (a beachside suburb of Melbourne, about 40 kms from the CBD), the marketing team had to overcome a very strong stigma of the past.

In order to do this effectively, lots of on-the-ground research was conducted to ultimately bring out a theme of ‘Loving Frankston’.

The target market was two-fold – downsizers and young families looking to be in a beautiful spot, just a short walk from a beautiful beach and all the amenities without having to deal with a hustle and bustle of an inner-city location with traffic congestion and high prices.

Quality research involves understanding key aspects of the area, as well as appreciating the nuances of that area. With that level of research in place, you can then create an authentic ‘why?’ to promote the right reasons potential buyers should fall in love with your project.

“When you can see your target clearly, with absolute focus, you know where to aim for absolute precision.”

target

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