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Thought Leadership

A place to keep up-to-date with the latest marketing trends

Customer Experience, Lead Nurture

We spoke with industry leaders to get their insight on what shifts will occur in property throughout 2021. It’s clear that with enhanced expectations from purchasers and a booming FHB market, property professionals must be prepared to deliver on their promise and exceed expectations to stay ahead of the competition.

 

Here’s what the experts had to say:

 

1. Changing expectations of products and services

People’s expectations of property products will shift as they re-evaluate what’s really important to them. With months spent in isolation throughout 2020, home buyers have a clear idea of what they want their new home and location to offer:

 

– More space and bigger backyards
– Additional rooms for at-home work and study
– Local parks and walking tracks
– Local facilities and amenities that provide convenience and enhance lifestyles
– Genuine quality

 

“We need to be prepared to reshape the types of products and services that we offer. As we return to some sense of normal in 2021, it’s timely to take an honest look at the way we go about our business, our customers’ changing needs and new resources available to us to better shape how we can stay a step ahead and thrive in a post COVID environment.”
 Anne Baker, Director – Two Crowns Marketing

 

What this means is developers and builders alike need to clearly communicate how their products deliver on quality and enhance the lives of homeowners, or risk losing out to the competition. After a year of uncertainty, purchasers want to be certain about their future purchase decisions and property businesses need to be prepared to deliver on their promise and exceed expectations.

 

“There will continue to be a flight to quality with so much uncertainty…in markets like this, people move away from smaller developers and towards more trusted brands that they believe will retain more long-term value.”
Anne Jolic, Head of Development – Retirement Living Lendlease

 

2. A booming First Home Buyer (FHB) market

2020 would have been a difficult year for renters and house-sharers whose homes didn’t accommodate for their lifestyle needs during isolation. This means we’re likely to see more renters opt to buy or build their own home – one that effectively responds to their needs and delivers a great living experience. Intensifying this strong First Home Buyer presence are low interest rates, grants and incentives offered by developers and builders to mobilise the market.

 

“I think we are going to see the first home buyer being stronger than ever…I also think that the downsizer market will be equally strong as they reprioritise what’s important and what’s not. Plus, they are still seeing strong prices and short selling times for their existing homes as first homebuyers snap them up.
James Kelly, Managing Director – Lifestyle Communities

 

For more key insights, read our PRX Magazine: The 2021 Trends Edition.

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Strategy

The Property Republic team spoke with industry leaders to get their insight on what shifts will occur in property throughout 2021. Here’s what the experts had to say:

 

1. The online sales process in property will continue to be a focus
It’s fair to say that the online sales process is here to stay. The lack of face-to-face contact experienced during the 2020 lockdown periods and the increased emphasis of social distancing practices were the push many property businesses needed to transform and improve their online customer experience. Being able to deliver a completely digital customer journey, from initial enquiry all the way to sale and beyond is not only an expectation, it’s essential.

 

“I’m confident the sales process will remain online. Due to COVID we needed to change our sales process to a full online experience. Now that the restrictions have eased, we are still seeing that the majority of enquiry (90%) would still prefer to buy a property this way.”
 Matt Dean, Project Director – Woodlea

 

Home buyers – especially the younger generation of home buyers – will continue to opt for digital experiences over in-person ones and this means property businesses need to make this a priority. Delivering multiple online touchpoints, virtual meetings and walkthroughs, digital nurture sequences and a seamless experience is becoming the status quo, so now property businesses must ask themselves “what more can we do to stand out from the competition?”

 

“I think there will be greater expectations and market acceptance for a digital marketing and sales experience post COVID-19 lockdowns. Like with a lot of things, COVID-19 has fast tracked digitisation which has been slowly happening for years. The days of driving around to 10 different land sales offices to shop around are officially over!”
Ryan Beer, Senior Development Manager – Woodlea

 

2. Audiences will be more engaged and interested

It’s possible that developers will experience higher qualified leads this year, as people are only engaging with the property sector online and in-person when they are seriously considering a purchase. But with a more switched-on audience who have higher expectations, property businesses need to be prepared to differentiate themselves from competitors by prioritising the customer lifecycle and delivering an exceptional experience.

 

Traditionally, the majority of marketing attention and budget gets thrown at the awareness and lead generation stage of the customer journey, with little consideration for how these leads will then be nurtured. This approach needs to change. Property businesses need to place a greater emphasis on the later stages of the customer lifecycle: the interest-intent phase, the decision phase and the loyalty phase. This means refining and perfecting the follow-up call, posting regular and relevant blogs and social media content that serve to educate and inspire and creating an email nurture sequence that delivers real value.


“I believe leads will be more qualified, as I expect people aren’t engaging in the property sector unless they want to transact. And as a result, better conversion rates are expected.”

 Anne Jolic, Head of Development – Retirement Living Lendlease

 

For more key insights, read our PRX Magazine: The 2021 Trends Edition.

 

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Strategy

The Property Republic team spoke with industry leaders to get their insight on what shifts will occur in property throughout 2021. From how we purchase property, to how we work, to people’s expectations of the product, there’s a lot to consider. Here are 2 important takeaways:

 

1. Connecting office-based and remote teams
Flexibility within the workplace will continue to be an expectation, and as a result, a focus will need to be placed on technology to create better connections and seamless communication between in-house and external teams. Businesses of all types must be prepared to accommodate an increased mix between working from home and working from the office, as people’s preference for how and where they choose to work changes. A big part of this involves investing in effective technologies and spaces.

 

“If there is to be an increased mix between working from an office and remotely, there will need to be a greater focus on the technology platforms used to deliver a useful meeting experience whilst accommodating the two.”
Sean Pinan, Director – Catalyst Development Services

 

2. The shifting balance between home and work
Priorities have and will continue to shift within people’s ideas of work-life balance. With people continuing to work from home, and companies realising work can get done without employees being in the office, more people will reconsider where they live – desiring a location they love over a location that’s close to their office.

 

“One word comes to mind: duality. I think a key impact of 2020 (and COVID) on the property industry was being forced to contemplate and reimagine the spaces we live in; the locations we live in; the values we live by or how we’ve been prioritising them and the investments we make.”

Lisa Thompson, Principal Solution Provider – ThinkSolve

 

It’s likely that we’ll continue to see the following shifts well into 2021:


– Regional and coastal locations will boom as individuals continue to work from home most days a week
– Families will opt to live in a more remote location for a better lifestyle
– Increased interest in new master planned communities because they have better open spaces and facilities
– Rising expectations that a new home will have flexible spaces
– Parents choosing to drop off or pick up their kids from school
– A greater likelihood of people purchasing a holiday home over inner city properties so they can enjoy their investments or plan for a “sea or tree change”

“2020 forced people to slow down and rediscover an appreciation for what we have at or near home, and I think this will increase the focus on decentralising Melbourne to establish the proposed 20-minute cities – which has implications for all sorts of industries and offerings.”
Anthony Battista, Marketing Manager – MAB Corporation

 

For more key insights, read our PRX Magazine: The 2021 Trends Edition.

 

 

 

 

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