by threshold | May 9, 2019 | General
Crafting a consistent, compelling, and responsible brand is one of the best gifts you can give to your business, especially when you’re first starting out. Good branding requires much more than just a name, a logo, and a few good ads. Your brand mission, style, and voice should inform every aspect of your real estate marketing plan, from website design and copy to lease space design to advertising strategy to print media and much more.
So how do you create a brand that informs your whole business, drives customer loyalty and recognition, and still has the flexibility to grow and adapt as your business grows and adapts? At Threshold, we’re pros at building brands people want to live in (and we’ve got these success stories to prove it). Today we’re giving you a little peek into our process and recommending five main phases to build a brand that lives, breathes, and grows. Let’s get right to it, shall we?
Phase 1: Research & Discovery
Trust us, before you start talking names, logos, colors, or any kind of strategy, it’s essential to understand the landscape you’re working with. That is, you need to learn all you can not only about who your competitors are, but also who your audience is (target and actual, if relevant), as well as the local culture in which your brand will be situated (even if “local” might be regional or national in your case).
Take some time to analyze your competitors, gathering data about their target audience, marketing strategy, color palette, persona & voice, everything you can get your hands on. This will become important in the next phase where you begin to carve out your own brand’s space amid the real estate landscape.
Equally important is understanding your target audience (and current audience, if relevant). Your branding should look a lot different if you’re marketing toward college students vs. adults in their 40s, for example, or to folks with low incomes vs. people with more disposable income. Take time to understand the demographics and attitudes of the audience you’re attempting to reach. It may be useful to separate your audience into a number of different buyer personas that will function as shorthand for some of the segments of your broader audience.
Bear in mind that you can’t market to everyone, nor can you be the best at everything compared to your competition. Understanding the consumers and brands in your marketing landscape is crucial to carving out a niche where you can thrive, which brings us to our next phase.
Phase 2: Differentiation & Planning
Once you know what the world around you will look like, you can start nailing down what makes your brand unique, and what special value it may offer to your intended audience. This phase helps ensure you don’t get lost in a sea of other brands.
Consider what you can do to differentiate your brand from the others around you. Is there a need not yet being met among your target audience? How can you diverge from the design and personality of other brands to offer something new? Are there marketing strategies your competitors aren’t making much use of? Most importantly, what mission will your brand have and how will that mission offer value to your audience?
Once you know what unique niche your brand will seek to inhabit, you can start to develop the design, personality, and voice that will help you show your audience what your brand is all about and why they should care.
Phase 3: Look & Feel
This phase is what people often think about most when they think about branding. This is the phase where design and content assets are created, and where creatives and strategists get to put their heads together to talk brand names, logo, typography, imagery, taglines, color palette, and a bunch of other things that help breathe life into your well-informed ideas.
Choosing your brand name and the logo that will become the shorthand for your brand are often the first steps in this phase, and for good reason. Amongst all your assets, your name and logo will be used most frequently, appearing on just about everything your brand does, and providing the primary touchstone for your audience to begin developing brand awareness and loyalty. Don’t skimp on this step.
Developing a brand style guide or creative expression will help you further elaborate on your brand’s voice and personality. Work toward establishing a tagline, which will communicate your brand’s mission, voice, and personality. For example, our tagline, “Results-based Real Estate Marketing,” communicates that our brand values accountability and efficacy while being focused on the real estate marketing niche, and expresses this information with a professional, confident, and plainspoken voice, communicating Threshold’s savvy and approachable personality.
Color palettes, typography, and imagery can likewise communicate a lot about your brand’s mission and persona. For example, blues and greens might evoke a relaxing, comforting, or natural vibe, while reds and yellows might evoke a sense of vibrancy, energy, or cheerfulness. A uniform, blocky font might communicate structure and strength while a flowing script typeface might suggest creativity and inspiration.
Phase 4: Integration
Once you’ve established a style guide, it’s time to implement your brand across all channels. Everything from establishing a website and social media presence to printing business cards to designing ad campaigns should be informed by your style guide and employ a consistent look & feel. Consistent implementation is crucial for promoting brand awareness and generating high-quality leads.
Your branding should inform not only your content but also your strategy. For example, if your brand seeks to be community-oriented, inviting, and affordable, you might plan to promote a lot of lease specials and open houses, and might incorporate more traditional advertising or geotargeting than another brand would. If your brand seeks to be irreverent, savvy, and casual, you might focus a little more on social media marketing and cater more to new trends in the marketing sphere.
Phase 5: Learning & Growth
While your branding should be consistent throughout everything you do, it should also be adaptable to changes to the marketing landscape and give your brand room to grow. In this phase, you’ll gather analytics to assess whether you’re reaching your intended audience, getting quality leads and conversions, garnering clicks and site traffic, and generally reaching all your marketing goals.
In the case where you’re growing reliably and you’re ready to branch out into another niche, consider how you can translate your current messaging and design to appeal to a new audience or platform, without diluting what makes your brand unique and recognizable.
Branding is an ongoing process, and there’s a lot that goes into it! But there’s no need to feel overwhelmed. We’re happy to help you navigate the branding process and craft a brand that you can live and grow in! Chat with a Threshold team member today to find out how.
by threshold | Apr 25, 2019 | General
We hear over and over again from our clients that they’re fed up with long-term contracts. It’s not hard to see why: while long-term contracts can promote long-term strategy opportunities and strong client-agency relationships, they’re often a poor choice for clients looking to be adaptive and efficient with their real estate marketing plan.
The truth is, you can still accomplish long-term marketing strategy and strong client-agency relationships without the burden of a long-term contract. That’s why we never force our clients to sign long-term contracts for digital marketing—our clients are always free to say goodbye to us with just 30 days notice. It’s important to us that clients stay because we are providing what they need, not because they are stuck in a contract (that’s our idea of a strong client-agency relationship)!
If you’re on the fence about signing a long-term marketing contract, we hope you’ll take a few minutes to read through these top things to consider when evaluating long-term contracts (and reasons why you might want to choose an agency that can work without them).
No Freedom to Adapt
Things move fast in the marketing world, especially when it comes to digital marketing. It’s important to be able to roll with the punches and make sure your marketing strategy always stays relevant to your needs. A short-term contract allows you to focus on high-impact strategies, then analyze their ROI and make adjustments as needed. You’re never obligated to keep walking down the same path if an agency isn’t moving the needle for you. You’re also free to dial back your services when you don’t need them as much, like when you’re all leased up.
In order to take full advantage of the benefits of a short-term contract, make sure you’re also getting transparent and prompt reporting from your agency. Threshold makes tracking ROI that much easier with ThreshBOARD™. Whether you work with us or someone else, a short-term contract that includes transparent reporting is going to give you the ability to pivot your strategy as soon as you know you need a change, allowing you to keep up with the fast pace of the digital world.
Less Incentive for Excellence
It’s unfortunate, but it’s true: agencies are less incentivized to wow their clients the moment they sign a long-term contract. Don’t get us wrong, agencies are still incentivized to do good work and cultivate strong relationships with their clients, but they also know that a lackluster result here and there will come out in the wash since the client isn’t going to stop paying for their services at any moment. With a long-term contract, you’re likely to see the best work in the few months leading up to a contract renewal, when the agency’s incentive to impress is high, rather than consistently throughout the year.
With a short-term contract, your agency is that much more motivated to deliver excellent results consistently, and may go above and beyond to do so. They know that a client can get out quickly if they’re not seeing the results they want. They are also motivated to be efficient with your spend, delivering you the biggest bang for your buck.
Obligation to Pay With No Added Value
Of course, the worst situation you can find yourself in with a long-term contract is being obligated to pay even if an agency just isn’t doing anything for you. This situation causes ROI to plummet and traps you in an unpleasant client-agency relationship that drains both resources and job satisfaction. Your relationship with your agency should be founded on mutual success and shared passion, and when it’s not, you should be free to sever ties.
For all these reasons, a short-term contract often suits clients’ needs more effectively than a long-term one. If you’re ready to be adaptive, efficient, and see high ROI, get in touch with a Threshold team member today. We’d be happy to walk you through our 30-day terms with no punitive cancellation methods.
by threshold | Apr 11, 2019 | General
There are lots of pricing models in the marketing world. Some agencies offer package pricing, some offer a la carte services, and some charge a percentage of spend. Some agencies might even use a combination of these pricing models. But which pricing model is going to work best for your real estate marketing plan?
At Threshold, we often have clients come to us with limited real estate marketing budgets and in need of an agency whose pricing structure can deliver them the biggest bang for their buck. If you’re in a similar situation and could use some help wading through all the various pricing models agencies may offer, we’ve got you covered. Let’s dive right in!
Project-Based Pricing
Project-based pricing is a pricing model that focuses on deliverables. You might pay a la carte for a single service (e.g. a landing page or one-time SEO revamp) or you might pay for a package of various services designed to address common marketing needs (e.g. a new start package or a rebranding package).
Whether buying a package or a la carte services, project-based pricing is a particularly excellent choice for short-term or intermittent needs, one-off campaigns or projects, and any client whose primary need is to expand their content assets.
A la carte services
A la carte pricing is best for individual deliverables that usually fit a standard mold. If you only need a few things and you don’t want to pay for anything not immediately essential or have the need for significant customization, a la carte pricing may work perfectly for you.
Package pricing
Many agencies offer package pricing, which is particularly useful for clients who appreciate a little guidance in determining what they need. Package pricing is a great place to start if you haven’t explored marketing in the past since it gives you an excellent sense of what an agency can do, and allows you to assess the ROI of various services at once. Plus, when it comes to digital marketing, employing multiple strategies that work in tandem can often produce the highest ROI, and agencies know how to design packages based on what produces real impact.
Package pricing also has the benefit of allowing agencies to produce a volume of work, with various deliverables that can each inform the others. This is good news for the agency’s team members, who can work more efficiently and cohesively on several connected projects, and works well for clients in need of a cohesive approach to a number of interconnected needs.
Package pricing can be structured in a variety of ways. A common strategy is to offer different tiers of service, ranging from basic to all-inclusive (e.g. an agency may offer a silver tier vs. a gold tier vs. a diamond tier). An alternative method is to group services by type and charge a one-time or a monthly fee for those services (e.g. an SEO package might group together services like a website revamp and SEO content writing).
Spend-Based Pricing
Spend-based pricing is useful for clients and agencies looking to ensure that the total price is commensurate with the actual cost of the services. A savvy client can leverage this kind of pricing model to guarantee they’re always paying a fair amount for the deliverables they get. The main downside of this pricing model, though, is that it incentivizes agencies to push increased spend on their clients in order to maximize their own profit.
If you’re a bit newer to digital marketing, or you’re working with an ill-defined budget, there may be a better pricing model for you. However, if you know how to advocate for your marketing needs and know exactly the size of your budget, this model may serve you well.
Still wondering which pricing model is right for your real estate marketing plan? We’re always happy to help you discuss your options! Chat with a Threshold team member today to learn more about the pricing models we use and whether they’re right for your needs.
by threshold | Apr 9, 2019 | General
In March 2019, Facebook announced changes to its ad policies aimed to put the platform in better compliance with civil rights legislation. If you’ve got your ear to the ground, you may have heard that these changes will impact housing, employment, and credit ads on the platform in order to better avoid discrimination—both intentional and unintentional—against protected minorities.
It’s true that changes are coming to Facebook’s advertising tools that will have a significant impact on housing ads, which commonly target users by location, age, and other demographics. But how, if at all, will you need to adjust your real estate marketing plan to adapt to these changes? That’s the question we’re here to answer today. Let us take you through the details of the situation, the changes to come, and how those changes will impact your future real estate marketing campaigns.
The Situation
First, let’s go over the reason these changes were necessary. Currently, Facebook offers a number of ad targeting tools that present a problem when applied to the housing, employment, and lending verticals in particular. The Department of Housing and Urban Development (HUD), along with support from organizations like the American Civil Liberties Union (ACLU) and the National Fair Housing Alliance (NFHA) charged Facebook with violating the Fair Housing Act, which prohibits sellers and landlords from discriminating against any protected class of people.
At the moment, advertisers on Facebook may target their ads based on traits like race, sex, and age. They can also target ads based on traits that can indirectly target race, sex, or age, including zip code, “multicultural affinity,” and “look-alike” profiles. While brands may want to ensure they reach audiences most likely to convert, targeting based on these traits can have the unfortunate effect of ensuring that only people who fit a particular mold have access to their property or special promotions. More troublesome still, users do not self-select these aforementioned traits, and so do not have personal control over how and whether they are marketed to. Instead, Facebook attributes these traits to users through a complex, proprietary algorithm that takes into account a user’s likes, location, and browsing patterns both on and off Facebook.
The HUD successfully argued that advertising tools like these do not comply with civil rights laws like the Fair Housing Act, and as a result, Facebook has agreed to implement a number of changes in the coming months. But what, exactly, will be changing?
The Changes to the Facebook Platform
There are a few significant changes coming to the Facebook platform that will affect real estate marketing. First and foremost, Facebook is removing certain targeting options for ads:
- Advertisers will no longer be able to target audiences based on age, gender, or zip code.
- Geographic radius targeting will be required to target a 15-mile geographical radius at minimum; previously the minimum was 1-5 miles depending on the area.
- An undisclosed number of “interests” used for targeting will be removed. This could include “university student,” “looking for new housing,” etc. often leveraged to target audiences.
Facebook will also be developing a new portal through which all users may search and review all housing ads. This measure ensures that users have access to all housing ads, regardless of whether they are served those ads in their normal Facebook feeds.
Facebook has not announced a date on which these changes will go live, but we do know that we can expect these changes by the end of 2019.
The Impact on Real Estate Marketing
So how will these changes impact actual real estate marketing campaigns? First, let’s talk about how targeting changes will impact housing brands.
First, without the ability to target based on age, gender, or zip code, each housing ad on Facebook will be competing more heavily with other ads. This could increase the Cost Per Click and reduce average Click Through Rates for Facebook ads.
Secondly, a minimum 15-mile radius for geographic targeting reduces the precision of geotargeted ads on Facebook. However, geotargeting will still remain a useful targeting tool in spite of the increased minimum radius.
Third, with the possible elimination of interest tags that hit too close to protected classes (e.g. “university student”) certain niche markets like student housing and senior living may find it particularly important to adopt marketing strategies that do not rely on interest tags.
In preparing for these changes, branding may take on additional importance for real estate brands. Crystal clear, compelling branding will be even more crucial in promoting brand awareness, reaching your desired audience, and driving conversions. If you’re looking to enhance your branding, we can help!
In addition to the impacts that targeting changes will have, Facebook’s development of a new portal where users can view and search housing ads will also have implications for real estate marketing. With users able to opt-in and control their search for housing on Facebook, the platform may begin to compete with housing platforms like Zillow, becoming a new place where people actively perform housing searches. Additionally, with users driving how they filter housing ads on Facebook, ads may need to cater to a different buyer journey on this platform.
How To Adapt
As you adjust to these Facebook changes, there are a few action items we recommend. These actions will help you minimize the disruption these Facebook changes present for your overall digital marketing ROI.
- Closely monitor the performance of your Facebook campaigns. Pay attention to Cost Per Click, Click Through Rates, and Conversion Rates.
- Evaluate the quality of leads post-click, keeping a lookout for any changes.
- Evaluate ongoing ROI for Facebook campaigns against your other advertising channels.
- Based on the above evaluations, you may choose to rethink the role of Facebook campaigns within your overall real estate marketing plan.
The changes Facebook advertising will undergo in the coming months may be significant, but they don’t have to be scary! We can help you navigate how to adapt your real estate marketing plan, ensuring that your ads deliver real value. If you’d like to learn more, don’t hesitate to contact us!
by threshold | Feb 22, 2019 | General
Today’s Customer
In the ever-changing landscape of technology available to students, it can be hard to truly understand how today’s students’ are hearing about you, narrowing down their options and making their final selection. This makes developing leasing ideas for the student housing market especially challenging. Instead of driving around searching for “For Lease” signs in the front yard, students now have a plethora of options to locate, research and select a new home from the comfort of their own couch.
So the question now becomes, are you a part of their search for a new home or apartment? To ensure you are a part of this journey, we have broken down the major stages consumers go through when looking to find a new apartment rental and what digital services can enhance your apartment complex marketing ideas.
The Online Customer Journey
Awareness Phase: During the awareness phase our target audience speaks to peers, keeps an eye out for housing options and often times compares options to their current unit. They may be doing a few Google, map or other online searches to find available options in the area they would like to live in. Reviewing these properties at a glance, they are likely influenced by reviews and property ratings.
Key Tactics: SEM, SEO, Reputation Management, Social Media
Consideration Phase: When moving into the consideration phase of the customer journey, the student has a set of options to compare amenities, price points, location and online/peer reviews. If a parent is involved in the housing choice of the student, they will likely review these alongside the student and come to a decision together. The research for this phase is going to heavily rely on property websites to provide easily digestible information around amenities, pricing, and location along with online reviews to evaluate preview experiences of tenants.
During consideration, students will often visit and tour multiple properties before signing a final lease. This provides opportunities for the property staff to influence the experience and opinion, while email communication offers personalized and timely follow up messaging to stay top of mind.
Key Tactics: Website, Reputation Management, Social Media, Retargeting, Display, Geo-fencing, Email Nurture
Purchase Phase: During the purchase stage, the student has narrowed it down to 1 or 2 properties and begins the application process. This is typically completed either through the property’s website or in-person. When applying online applicants will be influenced by the online process and its ease or difficulty.
It’s possible for the student to apply to multiple properties, which creates an opportunity to stay top of mind through email outreach. This ensures they continue the process through to signing a lease.
Key Tactics: Website Functionality, Email Nurture
Service Phase: Congrats, you’ve added a new resident! The service phase covers their time as a resident and includes maintenance requests, staff interactions, payment experience, community events or surprise/delight moments as a resident.
Key Tactics: Email Nurture, Property Operations, Reputation Management, Social Media
Loyalty Phase: The loyalty phase is an ongoing process around finding moments in which the resident is a loyal customer. They express this by sharing their experiences through online channels of reputation management, surveys or their participation in loyalty programs.
Key Tactics: Social Media, Email Nurture, Reward Programs, Customer Surveys
Advocacy Phase: Advocacy begins at the end of the journey. This is often conducted as the resident is leaving the property through exit surveys, promoting online reviews and word of mouth after their experience.
Key Tactics: Reputation Management, Social Media, Email Nurture
How can you keep up?
The key to any customer journey is ensuring you understand and keep in touch with the consumer and their behaviors, especially when addressing the student audience. This research can be done by surveying your current customers or conducting focus groups. Each can deliver actionable information that may point to a new apartment marketing plan with digital channels, tactics, and services that you may be unaware of.
Whether it’s Google’s new map integrations with property websites or new reputation services, students are early adopters to many technologies and create new challenges every day to pinpoint the ideal channel to place your student housing marketing dollars.
The only guarantee when it comes to consumers is that change is inevitable, and that means we must be methodical in the frequent challenging of our real estate marketing plans to ensure they are accurate and evolve as needed.
