Successful digital marketing is a living, breathing activity. This can’t be understated for luxury real estate. Gone are the days when websites functioned solely as a glorified digital billboard. Other industries have realized this fact, however some real estate marketers and developers still seem to be a few years behind. We are trying to help change that attitude.
The most successful luxury real estate websites speak to the different states of user awareness: Unaware > First Time Visitor > Regular Visitor > Engaged Visitor. These awareness states influence the life cycle of a website.
Understanding how a luxury real estate website should grow and change over time helps us better design it to drive users towards becoming fully engaged and therefore, more valuable.
TEASER
We use this stage of a website to introduce the brand to the marketplace and build a priority list. (Here is an example from 456 West 19th Street.) It contains simple functionality, like an animation or an elegant slideshow, and a form where interested users can submit their contact information to register interest. The main goal is to use this stage to begin a dialog with users.
This can simply be a regular program of email communication. Release information to the priority list before other users, and let them know that they are the first ones getting this information. Encourage feedback and respond to it. It is alright if you can’t sell anything right now. Users who register for a priority list are telling you they are very interested.
User Goals for a teaser stage website are geared towards gleaning any tangible information available and to register interest.
FULL WEBSITE / PRE-SALES
This is considered the “launch” of the online marketing program. The full website will contain detailed information about the product, location, amenities, and differentiators. (Here is an example from One Hawthorne.) The brand narrative will be presented, and the marketing message will be communicated. Often, there are only renderings available as the project is under construction. Launching the website provides promotional opportunities press coverage, and signifies the kick-off of the sales process.
Often there is pent up demand for information, and the pre-sales full website is the first opportunity for extensive information dispersal. Our data shows that Floorplans are the most popular sections of full websites. This is the first opportunity for users to learn about the project so it should be release to the public carefully.
User Goals for the pre-sales full site stage are geared toward information gathering. They are comparing amenities, downloading floorplans, and researching pricing. Minimize barriers (like forcing them to register, or withholding information) to enable users to achieve these goals.
FULL WEBSITE / SALES
This is considered the complete website and is the lynchpin of the online marketing program. Often model units will be completed, so renderings are replaced with photography. (Here is an example from Ritz Carlton Residences – Inner Harbor Baltimore.) Buyers can move in so there is a greater pressure to act and close. Pricing information is key during this stage. Consider time-sensitive content promotions (i.e. weekly featured floorplan) to encourage users to return regularly.
This stage also provides the project with an opportunity to integrate itself within the community. Sponsored community events or partner with neighborhood companies. Discuss and promote these activities on the website. Show how the project is intertwined in the community and you will begin to develop engaged visitors.
User Goals for the sales full site stage are the most significant of all stages. This is typically where the bulk of sales are generated. At this stage users are deciding whether or not to commit. Give them a reason to fall in love. Encourage sharing – when people fall in love they want to talk about it.
COMMUNITY
This is the last stage and most underutilized. After a project is largely sold out, the website will often expire or just be left to gather dust. However the most successful marketers have transformed their early-stage real estate marketing websites into thriving communities. Companies like Life At showed the early promise of supporting a thriving community but have had trouble gaining traction largely because online budgets have already been spent by this stage.
A community website (that includes forums, events, development news, special promotions) can be highly valuable because it is built for a core set of engaged users. These users are loyal brand evangelists, some of your most valuable fans. A thriving website in the Community stage will also have a mature and well executed Social Media plan in place.
Plan for a website that evolves and changes as its life cycle does. Allocate budgets planning for the long-term, as opposed to taking a narrow focus on just getting the full website live. The result will be a more effective and influential marketing tool.
Social Media marketing plays an important roll in the lower and middle ends of the market, but at higher ends it is not yet embraced. I believe that will change soon, as it represents a missed opportunity for luxury real estate marketers.
Check in next week as we close our insights into luxury real estate online marketing with an in-depth look at measurement and performance metrics.
