In alignment with East West Partners’ strategic vision, 90octane designed and implemented a unique marketing process that uses digital tools and strategic insights to help the developer understand and build relationships with prospective buyers. The program closely monitors prospects’ engagement with the site and emails to determine their preferences, as well as their phase in the buying process. That enables the team to tailor content to specific people and their real-time motivations, as well as refer high-priority prospects to sales contacts when they appear ready to buy. To drive urgency, the website allows automatic inventory updates that reflect property scarcity. The result? East West has experienced heightened control of the sales process and sold luxury condos 50 percent ahead of schedule.
East West Partners, The Landmark
Taking the Reins in Luxury Real Estate
How a Unique Marketing Strategy Helped Developers Control the Sales Process & Close Units Ahead of Schedule
When East West Partners acquired and invested $20 million to update and renovate The Landmark, a 271-unit luxury condominium high-rise and retail center, they aimed to sell the remaining 107 residential units at an aggressive rate of three per month. The developer hired 90octane to create a way for them to digitally build relationships directly with prospects and close sales at their target pace, by driving demand and controlling the sales process.
More Than a Place to Call Home
90octane designed and built a fully responsive website that not only tells The Landmark story but also allows the developer to establish direct relationships with prospective buyers. The homepage features a video that sets the tone for the development’s new brand and lifestyle, as well as calls-to-action for newsletter signup and tour requests. Additional pages utilize large visuals and search-optimized text to show the amenities within the condominiums — and throughout the neighborhood and surrounding retail space. Detailed floor plan pages enable people to view available units. They are easily updated to build urgency in a controlled way as inventory wanes.
Engagement Insights & Tailored Content
A lead nurture program enabled by marketing automation software monitors prospects’ engagement and tailors email marketing sends. Based on user activity, the team determines whether prospects are in the awareness phase — just learning about The Landmark — or closer to purchasing, comparing the development to competitors’ offerings or viewing a certain floor plan. Email lists are segmented based on unique buyers’ real-time motivations, and content is tailored to each segment. The sales team is alerted when a contact appears ready to buy.
Direct Relationships & Sales by Design
The email marketing campaign is designed to build relationships with unique prospects. Initial “What is Happening at The Landmark” emails sent to clients, brokers and current owners garnered an open rate of 37.5% and a click-through rate of 10.8% — compared to industry averages of 22% and 2%, respectively. As we tracked prospects’ engagement with those emails, we learned more and more about their individual preferences.
After several months, the 90octane team shifted our focus to sales. We created a “Request Your Private Tour” chaser button that follows users as they scroll through the homepage, positioned “Request a Tour” forms on the site’s deep-linked pages and created separate landing pages with calls-to-action. The tracking allows the developer to interact with each user based on his or her wants. For instance, the team sees when someone is looking at Penthouse units, and sends the person an invite to an exclusive Penthouse opening or refers a sales associate to contact the person.
From the launch of the campaign, news signups grew consistently (to 300 in 15 months), as did tour signups once they were introduced (more than 50 in four months). Continuously speaking to prospects based on their interests over a period of nine months nurtured them to become sales qualified leads. Using the leads generated by our campaign, The Landmark sales team closed on units 50 percent ahead of schedule, beating aggressive goals.
“We’ve exceeded our pro forma by 50% on a monthly basis. I think that is the direct result of that collaborative effort between ourselves and 90.”Brad Arnold
Keys to Success:
- Create urgency through scarcity using real-time inventory updates
- Track each prospect’s engagement with content and site
- Speak to each unique buyer with hyper-targeted messages
- Extend exclusive invitations to in-person events
- Refer sales team to prospect at the right time