Recent events may be impacting property buyers’ decisions and ability to purchase.
First, interest rates increased two months in a row, making it more challenging for buyers (especially first home buyers) to commit to and get approval for home loans.
Additionally, a national election recently took place, instating a new government, which can leave buyers wondering how and when incentives and policies will change – and if they’ll change for the better.
Plus, material shortages and supply chain disruptions continue to impact the building industry, pushing out delivery timeframes and increasing costs. According to ABC News, the issues are likely to continue well into 2023.
And that’s not to mention the rising price of petrol, produce, utilities and the general cost of living.
Such events have the potential to affect purchase decisions, and therefore impact your lead generation and conversion results – so if your property business has noticed a downward shift in engagement or conversions, know this is completely normal. However, there are things your sales and marketing teams can do to maintain loyalty, encourage interaction and stay top-of-mind.
With uncertainty swirling the market, here are six things your property business can do to mobilise your audience:
1. Communicate with transparency and honesty
Your customers don’t expect you to work miracles, but they do expect you to be honest when it comes to pricing, construction delays and other matters affecting their home or their purchase. Set up a lead-nurture and purchaser-nurture strategy to ensure your prospects and customers feel informed and confident.
2. Identify pain points and help solve them with content
What challenges are your customers currently facing? What jobs are they trying to complete? What problems are they trying to solve? We believe the best way to tackle these questions is to get your sales and marketing teams together to brainstorm ideas. Once you have a solid understanding of your customer’s pain points, your marketing team can begin creating content that responds to them. Here are some ideas:
Write a blog about tips for saving money around the home
Reach out to a financial expert to provide tips for saving up for a home deposit
Update your FAQs on your website
Send out regular emails to your database that link to these problem-solving content pieces
The Property Republic team can host a workshop that will get the best responses out of our marketing and sales teams. Learn more here.
3. Optimise your customer experience (mystery shopping)
The current prevalence of ‘consumer caution’ means your customer experience needs to be at its best – both online and offline. It’s crucial that you know how effectively your prospects are nurtured, and how well your on-site team represents the brand. A great strategy to determine these interpersonal factors is mystery shopping. The mystery shopping process can be used to evaluate the performance of a variety of services, from the online experience of customers and follow up, to the presentation of the sales office and the helpfulness of sales staff.
If your property business requires a mystery shopping service to identify areas for customer experience improvement, we’re here to help! We’re experienced in performing mystery shopping exercises and have done so for a range of leading property brands, including AV Jennings and MAB. Get in touch today to discover how we can help you refine your customer experience.
4. Make sure your project presentation is pristine
Take a road trip with the project team and review the brand, directional, entry and on-site signage, the standard of landscaping, the cleanliness of your sales centre, the state of the project in general. Most importantly, ask yourself – would you buy there?
5. Re-charge your sales team by reinforcing the basics of follow up (why, how and when)
Marketers – it’s time to work with your sales team to devise a phone conversation that will get you customer data that provides valuable insights.
6. Take a drive around your project and ensure your signage objectives are clear
It’s important to understand the hierarchy for signage positioning on your site. Within 10km of the development, place signage that features brand building messages; closer to the project’s location, provide wayfinding signs to direct potential customers; within your site you can station signs that serve to sell the benefits of living in the development and outline the specifics on what is for sale.
Reviewing your signage involves a few different steps:
When it comes to your highway billboard, remember that most people are driving above 80km an hour past it and can only take in one message. Review the layout of the sign and ensure the call to action (such as the web address) is dominant.
Drive through your project as though you’re seeing it for the first time. Is your signage clear and doing its job? Ensure the signs are both visible and at a reasonable distance from each other. If directional signage is misleading or confusing, it’s not going to provide an acceptable customer experience.
The Property Republic team are highly experienced in helping property businesses mobilise their audience through tailored customer experience, project marketing and lead nurture strategies. If you’d like to chat about how we can help you achieve great results, get in touch today.