How a Real Estate Developer Can Win Buyer Loyalty: Cases, Approaches, Tools
Elena Root, Executive Director of Brandson Branding Agency (TSN), gave a talk on "How a Real Estate Developer Can Win Buyer Loyalty: Cases, Approaches, Tools" at the conference "New Trends in Developer Marketing: From Project Concept to Sale" held as part of the International Housing Congress.
On 11 November, at the conference «New Trends in Developer Marketing: From Project Concept to Sale» held as part of the «International Housing Congress», Elena Root, Executive Director of Brandson Branding Agency (TSN), gave a talk on «How a Real Estate Developer Can Win Buyer Loyalty: Cases, Approaches, Tools».
The St. Petersburg International Housing Congress is the largest B2B business event in the real estate sector. Regular speakers at the Congress include leading real estate market practitioners and recognised experts in sales, negotiation, new transaction technologies and human resources management. The Congress features events covering all the main topics of the real estate market, as well as master classes and commercial training sessions.
The real estate sector is gradually changing, so real estate developers need to adapt to new conditions and changes and, above all, to new buyer demands. Property prices have risen because sellers who declined to list their lots this summer have returned to the market, which allowed prices to be pushed up in the autumn. But the upward trend in housing prices may reverse, since the main driver of growth was affordable mortgages, which have begun to become more expensive.
Price growth is also driven by the new functional offerings included in new development projects. Buyer needs are changing, and real estate developers have something to offer in response. Branding has begun to play a significant role here, and developers are paying more and more attention to it. It is not enough to add a new functional feature to a product: it has to be formulated correctly and communicated to the consumer, and the offering has to be shaped into a single, coherent concept. In 2021, buyers are willing to pay for more than just floor space and square metres, which traditionally were the main factor in choosing an apartment. That is why we have identified the key trends on the real estate market.
In her talk, Elena drew attention to the key trends that should be taken into account when working on real estate development projects. Among them is the trend towards digitalisation. 64% of developers have started closing their deals online, and the number of people wanting to buy an apartment online has grown as well. In addition, there is a shift in consumer priorities. Buyers are more likely to choose a «philosophy of life» than simply «square metres».
The speaker also noted the emergence of a new consumer segment: young people with ultra-high incomes, such as bloggers and software developers. The «previous» audience was about prestige consumption, whereas the new one values comfort and relevant values. Community matters to both.
«55% of Russians admit that a company's brand influences their purchase decision», - Elena comments on the role of the brand, - «And 47% of Russians are attracted to brands that do more than just sell. That is why we, as industry experts, are confident that consumers choose strong brands».
The expert speaker backed up her talk with recent agency cases, such as the development of the brand for the «Gorod u Vody» (City by the Water) residential complex for the real estate developer «Barents Group» and the development of the VIDI investment hotel brand for the new real estate developer Fizika.
