Elevating Marketing Strategy in Property: Driving Business Growth with The Property Marketing Strategists
The purpose of The Property Marketing Strategists is to elevate marketing into a keystrategic part of any property business rather than to just execute the tactical side of marketing - but what does this involve?
Strategic Marketing
How would you know what to advertise, where, to who, for how long, for how much and what the message should be if you didn't have the strategy to back up the tactics?
Being strategic means identifying all of the influences that would make a customer spend money with you and therefore it requires collaboration from all sides of the business.
In The Property Marketing Survey, our respondents told us only 54% are involved in finance meetings, acquisitions only 49% and product design 59%. When marketers should be in the front line of customer feedback and behaviour, it is surprising that they wouldn’t have more involvement with the product and brand decisions – after all the product is part of the brand.
How do acquisitions know where to purchase their next piece of land if they do not have the data of where customers are searching, what the customers are saying and what competitor feedback is out there?
How do commercial/development know what product to build if they aren’t relying on customer feedback, research and key sales analytics?
How do procurement know which sustainable features customers are asking about or whether the mattress makes for a good nights sleep?
How do finance know what to budget for sales and marketing activities if they don’t know what you need to do to remain competitive in the market?
How do operations know what the customer feedback is in relation to service?
All of these departments do not have the same opportunity to access customer feedback, sales data, competitor analytics and market insight as do the marketing department. Therefore marketing is in an unrivalled position to contribute to strategic conversations at all levels.
Without the strategic marketing piece, you risk not getting a return on your investment, you're unlikely to maximise conversions, you're unlikely to maintain brand awareness and therefore you will not be supporting business growth.
A marketers job is to understand what customers are prepared to pay for something. A successful business will plan its growth around this, so if your insight as a marketer is not welcomed or included, the whole business model can fail.
If you are looking to review your marketing strategy or concerned that your marketing team is not structured for success. We can help. Get in touch with The Property Marketing Strategists.
