We often think of a brand as just a logo and the name of a business. However, while a name and a logo are important visual elements for brand recognition and customer loyalty, it only scratches the surface of what branding can really involve. A brand strategy must be integrated in all aspects of marketing and development in order to create brand awareness, and to stand out from competitors.
The following are the 3 main brand components that are essential to address when building out your brand, and what types of strategies can be put in place to further develop these components.
A Strong Brand Identity
Create a meaningful visual identity: This consists of your overall brand image including logo, brand colors, website, and any other visual marketing materials. It represents the “look and feel” of your brand. This is the visual representation of what your clients will remember.
Consider your colors carefully – different colors have different meanings, and the colors you choose can speak to a specific target audience, resulting in various psychological impacts. As an example, many fast-food restaurants use red and yellow, because that combination of colors is thought to stimulate the appetite. Once chosen, ensure that you use consistency throughout all materials. (Always use the same typefaces, colors, brand patterns, etc.)
Questions to consider:
Is this unique enough to stand out from competitors?
Is it just a current trend, or will the design be timeless?
What is the meaning of the logo (icon, font, color)?
How will this resonate with the target audience?
Identify your mission: What is the business goal, and how does it reflect who you are?
Establish a Unique Value Proposition (UVP): This is a statement of how you will benefit your customers, how you will meet their needs, and why your offer is unique.
Increase your brand recognition: Think about different marketing methods such as building on different platforms and creating content that is optimized for SEO. Be sure to consistently add and improve upon new, fresh content under your brand guideline.
A Strong Brand Image
A brand image is similar to your brand identity. The key difference is, rather than how you want your brand to be perceived, your brand image is how your brand is actually perceived. Your brand image is like the reputation you have with the public. Ways to build and maintain a positive brand image: Establish a consistent social presence: Use social media platforms to engage with your customers, and keep them up to date on the latest news and product launches or programs. Engagement on a personal level can lead to increased overall customer service satisfaction.
Create innovative and high quality content: Content helps increase brand awareness by bringing in more web traffic while building your brand authority. You will become a trustworthy source of information, which will result in improving your reputation and increase brand trust.
A Strong Brand Culture + Brand Personality
Brand culture refers to your company’s core values and what you do everyday to live by those values. To establish a strong brand culture, consider the following:
Define your values: What exactly are those values?
Spread awareness of your values: Let your clients know what they are by promoting them
Ensure that your company is always reflecting those values (Always practice what you preach!)
In order to have a strong brand culture, your brand personality is an important factor in connecting with your audience on an emotional level as well as making your brand relatable to your customers.
In order to keep a consistent brand personality, consider these questions:
Learn who your audience is exactly; what is their age and location?
Be consistent in your tone; is it playful and bold, or mature and sophisticated?
To wrap up, a strong brand requires a strong brand identity, a strong brand image, and a strong brand culture and personality. By implementing these in your brand strategy, it will increase loyalty, trust, and awareness, and your brand will always continue to grow. In real estate, it is crucial to building a brand that will differentiate you from your competitors.
So the question is – how will you create a strong and impactful brand?
For some, real estate marketing can feel like a shot in the dark; throwing money at separate tactics, crossing your fingers, and praying to whatever deity you believe in that people see your ads and there will be a line of a thousand future tenants at your leasing office’s doorstep the next morning.
Fortunately, it doesn’t have to be that way. A Business intelligence (BI) tool leverages technology to allow your team to collect, prepare, visualize, analyze, and present your performance data across all marketing channels. These insights help inform several types of business decisions, allows you to optimize your budget in the most efficient way possible, and improves marketing processes and outcomes.
So why should your business invest in a BI tool? Let’s go over the main benefits a little more in detail:
Identify trends and recognize opportunities
With a BI tool, you have the ability to splice, drill down and analyze large amounts of data at the few clicks of a button. This gives you full visibility into your marketing campaigns as well as allows you to derive external insights such as current events and the economy that may be affecting performance.
With regular analysis of both campaign performance and external factors, your team essentially creates a self-optimizing feedback loop that continually improves your campaigns over time.
Determine how to allocate spend
It’s hard to know how to allocate marketing spend when your current view of your data is limited by factors such as time, metrics, attribution, or visualization features that prohibit you from extracting valuable insights. When using BI for marketing, you can assess which tactics drove leads—both in quality and quantity—and which tactics didn’t.
When you assess which strategies were effective and which weren’t, you can optimize your investment by shifting your budget towards the most effective methods and away from those that underperformed.
Understand your audience
As you begin to collect more data and create more robust dashboards and reports, you will begin to get to really know the types of future tenants to go after with your marketing efforts. Using BI, you can begin to understand your audience’s demographic characteristics, their interests, the technologies and platforms they use, and so much more.
This will give you a better idea of what messaging and imagery to incorporate into your ads that will resonate with your target audience.
Improve internal efficiencies
Not only can you use business intelligence to make your marketing spend more efficient, but you can also use it to detect inefficiencies within your internal processes. Project management tools often provide limited insights into how your company is spending its time and what it’s spending it on. Once you pipe the data from your project management tool into your BI dashboard or report, you will be able to extract custom insights around inefficiencies within your internal processes. As you uncover and address more of these insights, your marketing processes will become more efficient, improving your overall return on marketing investment (ROMI).
An advantage over competitors
There’s a good chance that some of your competitors are already leveraging business intelligence to identify and target the same potential tenants that you are. Investing in BI will not only level the playing field but potentially surpass them as well as any competitors who haven’t yet made that investment.
Revenue growth
Ultimately, leveraging a BI tool helps you drive revenue and reach your leasing goals faster. As you make better decisions and continually improve your processes, you’ll see improved results from your marketing.
Now that you understand the benefits, it’s time to go out and implement your tool of choice. Looker, Tableau, PowerBI, and Domo are all tried and true options. No matter what the tool, you’ll want to identify your goals in using it, set up processes for collecting your data from various sources, and begin organizing it into dashboards and reports for your team to analyze. Business intelligence is an ongoing process. As you extract more interesting and valuable insights, your reporting and visualization needs may change and you will continue working through these steps and refining your techniques.
Congratulations, your team can now begin to make truly data-driven decisions. The insights that were once difficult, impossible, and/or time-consuming to gain are now readily available at your fingertips. Your team is now able to take action much much faster on valuable insights, increasing your ROMI and leasing up your property in a much faster and more efficient manner.
Setting a new start community up for success is among the most complex projects you can undertake as a real estate developer or property manager. From branding and positioning to floor plan creation and event planning, the sheer number of marketing projects necessary to attract new residents and turn great construction into a successful community can quickly become overwhelming. That complexity is multiplied when you take into account the various touch points you’ll need along the way to translate a central brand identity across every digital and print asset, from websites to brochures to signage.
That’s why new start developers and asset managers often turn to full-service marketing agencies to help them navigate all the moving parts. A full-service agency is a marketing partner that covers the full array of digital, print, and strategic services that feed into a successful marketing plan for you property. Because new start developments are working from scratch to stand out among the competition and reach an untapped audience, working with a full-service partner is key. Spreading your marketing needs across multiple partners and vendors can compromise your strategic vision and dilute your brand identity, leading to less effective real estate marketing.
So what services should you look for in a real estate marketing partner? For new starts, here are the key services your marketing partner should be able to cover.
Research & Discovery
Any good real estate marketing plan begins with research and discovery. Skipping this step can be tempting if you are already familiar with your market (especially if you live locally yourself), but that’s never a good idea. Every new start enters a unique market defined by its precise location, existing competition, and ever-changing audience demographics and interests. That’s why we always recommend working with a marketing partner that will do their own research and discovery before launching into the branding process.
Although savvy developers usually conduct their own internal market research in order to design communities that will meet market demand, a marketing partner will cover additional nuances that help you activate a specific target audience and ensure your vision comes through loud and clear. While a developer might pay attention to rental rates, amenities, floor plan availability, and housing density in the area, a marketing partner might pay extra attention to competing brands, audience demographics, local history and culture, and other details that complete the picture of how your community can connect with new residents.
Naming & Branding
Without a cohesive naming and branding strategy, all marketing collateral suffers. You need a brand identity that is unique and recognizable so that potential renters have something to latch onto when comparing you to a sea of competitors. After all, details like amenities and floor plans matter when selecting a home, but what matters even more is how you tell the story of those advantages so that your audience takes the time to engage and learn more.
Telling this story begins with a suite of branding decisions that can be consistently applied across all collateral in order to amplify brand recognition and brand loyalty. That means naming, logo design, colors and patterns, typography, voice guidelines, and lifestyle imagery guidelines should all be established with your marketing partner, then codified into a comprehensive brand guidelines document so that future collateral builds upon the central brand identity.
Web Design & Development
In many cases, a landing page or full website is the first place your brand will come to life and get the chance to connect with your audience. Working with the same marketing partner on web design and development that you worked with for research, naming, and branding helps ensure that this crucial milestone fully realizes the brand identity you worked so hard to create. Few things can compromise an otherwise solid marketing plan more easily than a poorly executed website that is out of step with your larger marketing strategy.
Along the way, it’s also essential that your web designers and developers understand UX and SEO best practices so that your website isn’t just pretty and on-brand, but also pleasurable to use and easy to find so that your audience of potential renters can actually connect and take action. Make sure your marketing partner is well-versed in UX and SEO so that your websites and landing pages continue to pull their weight long after they’ve been launched. In fact, we recommend working with a real estate marketing partner that offers long-term hosting, management, optimizations, and periodic design refreshes on your site so that as trends change, you can stay ahead of the curve.
Print & Digital Asset Creation
In addition to website design and development, there is a wide array of digital and print assets that contribute to your brand efficacy and help your audience make their housing decision. Included in this category are assets like floor plans and site plans, virtual tours, photography and videography, brochures, flyers, business cards, and letterhead. Each of these separate touch points is a chance to amplify your brand identity and engage your audience. If executed poorly, they can have the opposite effect—diluting your brand identity and failing to connect with potential renters.
Once again, consistency is key when it comes to asset creation. Every asset should be an extension of your larger branding and marketing strategy in order to maximize ROI. Details like these can often go unnoticed unless they clash with your brand or otherwise fail to meet expectations, so they can sometimes become an afterthought for developers and property managers. A great marketing partner knows how important it is to get these details right so that everything fits seamlessly together.
Environmental Graphics
The real estate marketing funnel is increasingly digital, but environmental graphics still play a key roll in raising awareness, driving foot traffic, and creating great tour experiences. From construction banners and billboard graphics to temporary lease space design decked out with floor plan graphics, rendering graphics, and targeted messaging that speaks to your unique differentiators, your marketing partner should be able to help with it all. Meanwhile, permanent signage should also be carefully crafted to amplify your brand identity so that you’re never at risk of blending in among your local competitors.
Digital Marketing
As you work hard to complete your new development project, your digital marketing should be working just as hard to raise brand awareness, generate leads, and nurture those leads so that your efforts pay off with a swift lease-up. When it comes to digital marketing, you’ll benefit from having the same partner involved in your ad campaigns and email tactics that was present for the research & discovery, branding, and design projects along the way. This digital marketing partner is then better equipped to target your unique audience with the right message at the right time in the right place.
Promo & Swag
As you prepare for open houses, housing fairs, grand opening events, and move-ins, branded promotional items can go a long way in keeping your new community top of mind with prospects and delivering a great move-in experience that turns residents into brand advocates. Welcome kits, giveaway items, and event promo should be more than an afterthought; the right item outfitted with a unique design can be the difference between a memorable brand experience and a throwaway object that people quickly forget about.
If you’re still looking for a new start marketing partner who covers all these bases from discovery to promo, we’d love to chat! Threshold covers all this and more in order to deliver cohesive marketing strategies that build on one another to accelerate lease-ups and drive high ROI. Keep us in mind for your next new start project or use our chatbot, Trent, to schedule a no-strings consultation to learn more about what we do.
In the world of real estate marketing, video advertising remains underutilized. It’s well-known by experts in the industry that real estate brands tend to be later adopters of digital strategies, so it comes as no surprise that CTV advertising on platforms like Hulu and other streaming services is still catching on.
If you are among the real estate professionals who have recently started to wonder if CTV advertising is right for your brand or you’re completely new to the topic of CTV advertising and want to learn more, this article is for you. We’ll be explaining what CTV advertising is, how it works, and where it excels as part of your real estate marketing plan. As you read on, you’ll learn how running CTV ads on Hulu and other top streaming platforms could earn you more leads and leases.
What Is CTV Advertising (and how is it related to Hulu)?
CTV stands for Connected TV, which refers to today’s Smart TVs and other devices that allow you to stream digital video content on your TV. Popular examples include Roku, Apple TV, Google TV, and Amazon Fire. These Connected TV devices allow users to stream content through a variety of apps such as Hulu.
This is where advertising campaigns come in: ads are shown while users stream content on CTV apps, much like a traditional commercial on cable TV. Hulu is just one of dozens of streaming platforms where CTV ads can be placed. Other popular platforms include Pluto TV, tubiTV, and Crackle.
Because connected TVs have become so ubiquitous in recent years, this form of advertising represents a promising frontier for real estate marketers. In fact, 82% of households in the US have at least one Connected TV device. Millennials represent the bulk of Connected TV users, with Gen X and Gen Z not far behind, making this particularly promising for multifamily marketing and student housing marketing as well as the next generation of active adult and senior housing marketing as older Gen Xers begin to move into these age ranges and younger Gen Xers and Millennials help make housing decisions for their older parents.
Targeting Tactics For CTV Advertising
One of the benefits of CTV advertising is the wide array of targeting tactics available to marketers. Not only do real estate marketers have the usual demographic and behavioral targeting tactics at their disposal (such as specific interests, websites visited, and searches performed), they also benefit from addressable marketing tactics that allow them to target a specific address list or use custom data aggregation and GPS data.
Marketers may also retarget users who have already been served a CTV ad, encouraging clicks and conversions by serving ads on other platforms and devices to an audience that is already aware of their brand.
How Is Success Measured for CTV Ad Campaigns?
Video completion rates, mute rates, pause rates, and impressions are among the key performance indicators (KPIs) for CTV ad campaigns. These metrics help determine the extent to which users are actually viewing your CTV video ad.
When it comes to tracking ad engagement and conversions, online conversions are measured by tracking whether a user visited your website and completed a conversion action (such as a contact form fill or application start) on a device within their household after being served your ad. Meanwhile, offline conversions can be measured by tracking when a user’s mobile device enters a conversion zone (such as your leasing office), which is defined by drawing a micro-geofence around the desired location.
These KPIs can be broken out by channel/app, device, and keyword to provide further insight into how your CTV ads are performing and how to further optimize for your target audience.
How Effective is CTV Advertising?
At Threshold, we’ve seen exciting results from our CTV advertising campaigns, but there’s no need to take our word for it. In addition to strong performance across the KPIs mentioned above, marketers using CTV advertising have also reported a positive impact on brand awareness and engagement, overall conversion rates, and number of repeat customers.
There are several reasons why CTV advertising is an effective choice for real estate marketers looking to reach more potential renters and increase lease and occupancy rates. We’ll discuss some of the top advantages below.
CTV Advertising As an Awareness Tactic
Awareness tactics are a key part of any holistic real estate marketing plan. These tactics focus on increasing brand awareness among a broad audience in order to reach prospects during the early phases of their housing search so that when they move onto the consideration phase, your brand is more likely to make the cut. In other words, it establishes a strong marketing funnel from the very beginning so that your have a higher chance of finding the prospects for whom your community is an excellent fit.
CTV ads excel as an awareness tactic because they can reach a wide yet relevant audience even when they’re not actively searching for housing. Not only can CTV ads be targeted to reach thousands of potential renters, but because they utilize a more engaging format than static display or search ads and usually reach users during their leisure time, users are more likely to absorb your message and remember details like your brand name and URL once the ad is over.
These factors make users quicker to click and convert when they encounter your brand again during a housing search. In the best cases, users may specifically search for your brand name after seeing an ad that intrigues them, even if considerable time has passed since they viewed your ad.
CTV Advertising As a Conversion Tactic
While CTV campaigns excel as an awareness tactic, they can also be paired with retargeting tactics across other devices to help move your audience further down your leasing funnel as they weigh their housing options.
For example, you might create a display ad campaign that retargets users on their phone or desktop up to 30 days after they first viewed your CTV ad. Now that they are already aware of your brand, you can stay top of mind and give them further reasons to convert by showing off high quality images of your community and incorporating messaging about current specials, available floor plans, or other time-sensitive information.
Interested in learning more about CTV advertising? We’re always available for a no-strings-attached consultation to walk you through this unique marketing tactic. Try using out chatbot, Trent to schedule a call!
Influencer culture is not going anywhere anytime soon. Influencer Marketing grew to approximately $13.8 Billion in 2021, with Instagram and TikTok leading the way. About 3/4 of Gen Zers and Millennials follow influencers on social media and over 50% say they trust the influencers they follow, according to The Influencer Report. In an Influencer Marketing Benchmark Report in 2021 with over 5,000 surveys with marketing agencies, brands & other relevant professionals, Influencer Marketing Hub found that 59% admitted to having a standalone budget for content marketing & 75% of them now intend to dedicate a budget to influencer marketing in 2021.
5 Reasons Why People Advertise Through Influencers:
People buy from people because it feels personalized & authentic
People want to see content that relates to them
People research on bigger commitments
People are more likely to buy if they come to you
People will read/view your content because they already cared to start with
Like, Subscribe & Growing
In the world of real estate marketing, shows like “Selling Sunset” on Netflix are popularizing real estate influencers or agents using their strong social media following. With the rise of niche micro-influencers since the pandemic started, and marketing platforms and agencies growing by more than 3 times since a few years ago, influencers will continue to entertain and establish a trustworthy relationship with Millennials, Gen Zers, and those who follow.
Mai Mongelous
Written by Alfred Perez, Digital Success Manager