NEWhomes
obstacles are, you can try to remove them. Finance is usually a major issue, so
determine whether the pricing is right, and if it is, offer more flexibility. You may consider offering low or no deposit schemes, staggered payments, personal finance plans or shared equity funding for first time buyers – choose what would most appeal to your target market. Unfortunately, if location is an issue, this
is more difficult to address. However, do some research and brainstorm all the benefits that your location has – then make sure that these are emphasised in any marketing or sales information. For example, it might not be the prettiest site – but it’s only 40 minutes from London by train. If the price is right, this may be enough to tempt commuters to take a look. If people are worried about risk, offer
guarantees to reduce that risk such as 10 year build warranties or offer to pay surveyors’ fees to ensure that clients have the peace of mind that a full survey can offer. This also demonstrates that you have confidence in the quality of your build.
If you can answer yes to these questions,
the good news is that you are well placed to make a significant difference by rebranding or implementing other strategies that may help. In a nutshell, you need to focus on your target market and refine your message to ensure it reaches them.
SMOOTH THE WAY If the fundamentals are right and the target market is there, you need to identify what is stopping your ideal customer from buying. Ultimately, you are aiming to make it as easy as possible for a customer to buy from you, so once you know what the
Focus on your target market, and, perhaps, use home styling to reach them.
MAKE YOUR MESSAGE STAND OUT If you have spent a considerable amount of time working with a development it’s easy to assume that everyone in the area is aware of it. But just because you have lived and breathed it for months or years, doesn’t mean that it looms large in other people’s consciousness. We are very good at zoning out what doesn’t relate to us, people walk by developments every day on their way to the train or the bus stop and don’t even register their existence. You may feel that you have publicised your development effectively, but it’s easy to underestimate how many times you have to repeat your message for people to take notice. This may not necessarily mean that the project has been poorly marketed – you may simply not have done enough of it. For people to take notice, you need to make it relevant to them so if you are confident that you have the right target demographic, make sure that your message is reaching them.
SELL THE LIFESTYLE When you sell a development you are selling a lifestyle, which is why branding and marketing is so important to get right. If you feel that your identity is right, you may need to ensure that the product matches up to the identity that you have created for it. Look at fixtures and fittings: if creating a luxury brand, these need to be top quality or there will be a mismatch
PROPERTYdrum NOVEMBER 2011 45
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