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realestate.com.auVendor Education Launch
April 2009
Background…
Total Awareness Principal / Sale
Agent
Feature Property 99% 97%
eBrochure 92% 81%
Guaranteed Top Spot 95% 90%
Awareness of products amongst agents is high.
Despite this, overall penetration is still low.
National
Feature Property 8.3% of listings
eBrochure 1% of listings
Guaranteed Top Spot 12% of suburbs
CHALLENGE:HOW DO WE INCREASE
PRODUCT UPTAKE?
The opportunity…
Vendor Education is an idea that was borne to generate a push – pull
marketing strategy between vendors and agents for depth products.
The idea is to educate vendors about the benefits of: • advertising online• REA products when selling their home.
In turn encouraging agents to purchase
online products at their customers request.
Case studies (industry market leaders i.e. IKEA, Bunnings)• What makes them successful in educating consumers?• What information do they provide?• How do they provide the information?
Key Findings:Educating consumers is successful for companies when trust is earned. Its about:
• Empowering consumers
• Leveraging off high stress decision making – being the one to ‘make it easier’
• Increasing consumers confidence about decision making
• Earning trust from consumers in exchange for information
• Providing tools beyond what is directly applicable to service
What research did we do?
Focus groups (sellers & market monitors)• What are the research stages when selling property?• What information do sellers want?• How would they like to receive information?• Would they feel comfortable asking their agent about advertising?
Key findings:• Vendors agree that online is the most important way to advertise (lack of awareness
of products)• Most vendors follow agents recommendations• No ‘one place’ for vendors to go for selling information• Vendors do not want a complete a-z of selling; they want to be able to find the
information they are looking for quickly and easily.• Vendors would feel comfortable asking their agent about advertising• Research stages were identified as: Thinking about selling, deciding to sell/choosing
an agent, engaging an agent and confirming details of sale, during the sales process.
What research did we do?
The solution….
Launch of a microsite
realestate.com.au
Selling Guide
www.realestate.com.au/sellingguide
Consumer objective:To provide vendors with information and tools that will assist them in the selling process including the value of advertising their property online, and the realestate.com.au products that are available to ensure that
they get the most enquiry and highest price for their property. – educate &
empower
Business objectives:
• To actively position REA as the market educator for online advertising for both agents & consumers
• To increase take up of single purchase depth products that agents have the option of purchasing on a per property basis:
- Guaranteed Top Spot, Feature Property, eBrochure
By providing vendors with information and tools to ask agents about REA products (create push-pull)
The objectives….
www.realestate.com.au/sellingguide
What will you find?
ARTICLES / INFORMATION VIDEO’S
What you will find?
Useful market data such as Weekly Auction Results from RP Data
Relevant links back to realestate.com.au :• Find an Agent• Sold Properties• Sign up to eAlerts• Searching for property
Jargon Busters• In real estate there is a lot of jargon
provide sellers with simple definition of some popular jargon
Did you Know…• Quick important facts
Checklists Useful checklists that consumers can download
Facts & Statistics Easy to understand facts on online adv
REA Product info
This is a key part of the site which provides a simple description of our products
Downloadable ‘Advertising Online’ flyer
We provide a downloadable ‘advertising online’ flyer.
Encourages consumers to print the flyer and take it to their agent ask to discuss the products and how they can be included in their advertising schedule.
Downloadable ‘Selling Guide’ brochureKey info from site designed into a attractive downloadable Selling Guide Brochure
New Vendor FlyerNew Vendor Flyer available for agents to orderand give to potential vendors.
Reaching our target audience
• Females
• 25 – 54 year olds
• Key focus in Sydney and secondary in Melbourne to combat domain’s increased level of marketing activity
• Media activity to compliment current peak site visit times
• Media Channel selection is targeted at people that could be interested in ‘selling’ i.e.. own mortgages, visited REA sell section and sold properties
Level 1Awareness
Strategy
To reach the mass market and generate brand awareness of the Sellers Guide at realestate.com.au
Level 2Consideration
Tactics
TVC : 30 second vignettesRadio : Top & Tail commercials and traffic sponsorshipSocial Networking sites : Twitter
Level 3Direct Response/ Usage
Level 4Repeat usage
Give consumers a reason to consider realestate.com.au and visit Sellers Guide
Disrupt the current strong positioning of domain and getting close to the action
Online display, video & eDMs
PR : Herald Sun Weekly columnNews Community Newspapers
Tactical Activity : Brand Custodians handing out REA buying and selling organiser
Sydney only, focusing in domain strong areas at OFI
Derive a need to retrial/revisit and engage consumers to commence WOM
Social networking sites : building communities and conversationRegister to get information updatesWeekly refreshed content : Auction Results
How are we reaching our audience?
www.realestate.com.au/sellingguide
Integrated campaign using multi channels Commencing Sunday 3rd May until end June 09
TV : Channel 9• 30 second vignettes : Real estate selling updates
– Provide sellers with practical tips and info – “why didn’t I think of that?”– Fronted by Melbourne comedian, Lawrence Mooney– Commencing Sunday 3rd May until Friday 3rd July : 9 week schedule
• Programming– Today Show (Syd & Melb)
• Target: 30 – 49 years• Peak time:
– Sydney : Wed – Friday Breakfast 7:30am – Melbourne : Wed – Fri Breakfast 7.30am
– Home Made (NEW Design and Renovation show): Syd only• 8 weeks• Sunday evening 6.30pm
– Nine News and 60 Minutes : Syd only• 60 Minutes : 5 Spots• Nine News : 4 Spots
Example vignette – Advertising
If video does not play visit: http://www.youtube.com/watch?v=aBLERKHA4Qg
Example vignette – Why use an agent
If video does not play visit: http://www.youtube.com/watch?v=Dnlkl4F94_c
Example vignette – Preparing your home
http://www.youtube.com/watch?v=w9ynpe8pwwc
Radio• Sydney
– 2DAY• Kyle & Jacqui Breakfast Traffic sponsorship• High frequency with credits every 15 minutes• Mon – Fri for 4 weeks
– 2GB• Last break before news @ 7am and 8am. Mon – Fri for 9 weeks• Stockmarket Report Sponsorship. Mon – Fri for 9 weeks
• Melbourne– 3AW
• Top & Tail 15 second recorded spots with Bill Kusznirczuk (resident urban planning expert) Breakfast Thurs – Fri for 9 weeks
– Fox FM• Matt & Jo Breakfast Traffic sponsorship• High frequency with creditsevery 15 minutes• Mon – Fri for 4 weeks
Digital
• eDMs to REA and third party databases– targeting homeowners and those with mortgage
• Display advertising– REA site & network– External Networks include : • Website retargeting of consumers that visited
the Sell & Sold properties of REA
• Behavioural targeting across Yahoo based on Search terms they enter in Yahoo, content viewed and where they visited
• Video content on 9MSN (Platform 9).
Example of display advertising
Example of display advertising
Example of display advertising
Getting close to the action – OFI’sREA Brand Custodians handing out branded folders at selected OFI’s – Syd only
– Target 7 areas (approx 60 suburbs) identified as domain 50/50 areas
– Commencing Sat 9th May for 6 weeks
– 8 Teams of 2 staff to hand out branded folders at OFI’s
– For agents a great value add to their customers
– For consumers useful giveaway to take home to help them stay on top of all the property paperwork such as contracts, property flyers, OFI lists and agent contact details. – keep REA top of mind
Areas include :- Hills District - Upper North Shore- Northern Beaches - North Shore- Mid-North Shore - Sutherland- St. George X 2 teams
PR & social networking
• PR – targeting homeowners and those with mortgage
• Social Networking– Our aim is to build a community and get engaged in relevant
conversations
Start off sending out weekly tweets : topical infoWhen is the right time to sell?
Tweet: If the property market follows the general state of the economy, when is a good time to sell? We’ve got the scoop on today’s sellers market. (link to relevant articles & RP data)Tweet: Thinking of selling your home? Find out if it’s worth waiting for spring.
Start adding to discussion boards Discussion topic: Tell us your tips for getting a great winter sale?.
Agent CommunicationCommunications
Monday 4th MayEmail communication – launch to include choosing an agent video
Monday 11th MayNew vendor flyers available to order – email comms to agents
w/c Monday 18th MayArticle in agent newsletter
w/c Wednesday 20th MayTile ad on Agent Admin
Agent tools
• New vendor flyers• Tile ad image available for agent websites• Additional give-away folders (other states)
– Distribution via AM
• DL Flyer in renewal and welcome kit
Measuring Success
Key website metrics to realestate.com.au/sellingguide
– UB’s, Frequency, Sessions Duration
– No. of downloadis of checklist & brochures
Brand Health Measures
– July & August we want to see a positive shift in Syd and Melb in the % of consumers that when asked “ which site that lists properties available to rent, buy & share first comes to mind” state realestate.com.au
Creative Testing– Channel 9 is undertaking research to track cut through & effectiveness of the
vignettes
Any Questions?
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