Mastering the [property] marketing funnel
There’s nothing quite so satisfying as a full funnel marketing strategy working in perfect harmony at every stage!
You’ve no doubt heard of full funnel marketing, the OG marketing strategy we all know and love. For those unfamiliar with the term, full funnel marketing focuses on the classic ‘drive them down’ approach, with the end result being the conversion of those at the bottom of the funnel. Simples! But how does this apply to the world of property marketing *specifically*? And how does the digital team at Sense use this approach to guarantee sales for our plethora of property clients? Let’s break it down, shall we?
Top of Funnel (Awareness)
METHODS OF IMPLEMENTATION: Display, social, video, broad scope blogs
GOAL: Branding, relevant visibility
METRICS OF FOCUS: Impressions, clicks, time on site, brand searches
Going to market with a new property development requires a carefully thought out plan of action. Reason being is that buying a home, land or townhome is a high involvement purchase that requires time, careful planning and a mountain of emotion for most people. You’re not just going to sell all your blocks of land immediately upon launch. That’s not to say this doesn’t happen, but it’s definitely the exception rather than the rule.
It’s for this reason that building brand awareness is so crucial, no matter how big or small your residential project is. Failing to recognise this is why some marketing agencies and property developers struggle to reach their goals. They forget the primary task of any business – building a brand.
The first must-have to set your brand up for success? Without a doubt, a clean, fast loading, attention grabbing website with a consistent look and feel. And let’s not forget some quality copy written with SEO front of mind. After all, your website is where your audience will be led, so you want that first impression to really count!
At this stage of the funnel, it’s all about driving traffic. You want your advertising campaign to have high impressions and a low cost per click, regardless of the marketing channel involved. Brand awareness is all about getting attention, and lots of it, through advertising channels. Ensuring your website has relevant and informative blogs with a powerful headline can be of huge benefit here, as it can position you as a market leader, as well as help bring organic searches to your website.
Middle of Funnel (Consideration)
METHODS OF IMPLEMENTATION: Targeted social, search, informative blogs
METRICS OF FOCUS: Click through rate (CTR) clicks, conversions
Gaining traction in the consideration stage of your strategy is a make or break. The three step funnel approach is not a stop and start process, rather you want to attack all pillars consistently and continuously for success.
Marketing a property development or boutique community requires media spend to push your social (Facebook & Instagram) and Google ads out to the right people. When targeting this middle of the funnel audience, we want to make sure our budget is going to a relevant group – targeting users who either have interest in purchasing home and land, interest in your brand already or who are likely to start converting and interacting.
These users are warmer and have the potential to become customers. They might know your brand name already, or they might not. Either way, they are on the lookout and comparing you to competitors to see who has the winning edge. Channels that work well at this stage are Google Search and qualified Facebook/Instagram audiences.
Tested strategies from the team here at Sense show that the Australian property market reacts well to advertising creative with lot or stage plans when compared to lifestyle/brand creatives.
Bottom of Funnel (Decision)
METHODS OF IMPLEMENTATION: Retargeting via display, search & social media
METRICS OF FOCUS: Qualified conversions, conversion rate, cost per acquisition
Now we’re getting to the good bit, the bottom of the marketing funnel. This is where the action finally happens. Your website visitors have really done their research, checked out your rivals, potentially visited your sales office and are ready to convert.
The focus now is to reach these users with a final message of impact. Something that really provides a point of difference for your development compared to others in the market. Drawing on things such as nearby amenities, urgency of selling out fast, or other points of difference that can get interested users to contact you and speak to your sales team.
The idea here is that users already know who you are, they already know who your competitors are, and they are reaching the pointy end of their search for a property. Retargeting users who have already visited your website and heard of your location is the way to go here. The goal is to lower your Cost Per Lead/Cost Per Acquisition.
This process may seem linear, but it’s actually a full circle. You need every stage of the funnel working in unison to achieve the best results for your brand. That means, your Google ads, Facebook campaigns, email marketing etc. all working towards your goal.
Luckily, we’re experts in this marketing circle of life at Sense. So if your property marketing strategy could do with a bit of love, get in touch!