As technologies and buyer mentalities change, it's important to adapt your marketing tactics so you can better reach prospects and generate more leads for your business. As a property developer, you want to focus on tactics that reach your target audience with an immediate positive impression that builds a strong foundation for what will likely be a longer sales cycle.
Let's look at 3 more advanced lead generation tactics that can help you convert prospects into leads and generate more revenue for your property development company.
1. Accounts Based Marketing (ABM)
Marketo defines ABM this way: "Account-based marketing (ABM) is an alternative B2B strategy that concentrates sales and marketing resources on a clearly defined set of target accounts within a market and employs personalized campaigns designed to resonate with each account."
According to research done by the Altera Group, 97% of companies that used accounts-based marketing reported a higher ROI from ABM vs. their other marketing initiatives.
The key to ABM is leveraging what you know about your target account to produce specific content that resonates with a particular need within that organization. We're no longer writing for personas, we're writing for specific people.
Accounts-based marketing is ideal for business with an expensive product and a long sales cycle where the value of a single deal significantly outweighs the cost of implementing audience-of-one marketing campaigns. Creating specific and personalized marketing content for the account(s) you're targeting will be much more effective at converting customers than taking a traditional "shotgun" approach.
2. Video/3D Visualization
The amount of time that the average consumer views video every day has grown about 38% annually since 2011 and is currently at about 16 hours per week. There is a huge opportunity to get your brand in front of these people and gain their trust using personal videos. The vast majority of businesses agree that video marketing is something they should be doing to increase their marketing success and boost revenue.
In addition to video marketing, incorporating 3D visualization is an excellent strategy for property developers because it provides a way for prospects to get an idea of what the product will look like before it exists. Whether it's land in development or a building under construction, the ability to see a scaled version of the final product will get potential customers much more interested than a simple description.
3. Conversational Marketing
Conversational marketing is a term that speaks to the ability to communicate with customers in real time. Through technologies like SMS messaging, email, and website live chat, or apps such as Facebook Messenger and Slack, Marketers and Salespeople can respond and communicate instantly with prospects that engage with them.
As the attention spans of prospects are becoming shorter, conversational marketing is becoming more prevalent. Responding to inquiries in real-time keeps potential customers engaged with your brand and provides a personal experience for them. In fact, research shows that when companies are able to respond to a prospect inquiry within the first minute, they are 391% more likely to close a sale with that individual.
The property development industry is highly competitive and leads won't wait around to be engaged. They're going to be doing research and that means spending a lot of time reading and engaging with content that isn't yours.
Prospects are also highly likely to do business with the first company that responds to them (78% of customers buy from the first responder). By implementing conversational marketing, you can keep prospects around longer and provide them with the exact information they're looking for when they are looking for it.
By using account based marketing, video and 3D visualization, as well as conversational marketing, your property development company will be able to better engage prospects, turn those prospects into interested leads, and ultimately close more deals.
If you're interested in learning more about incorporating these tactics into your marketing plan, give us a call or contact us online! We'd love to help you better reach your target audience.