pursuit of marketing effectiveness accelerating sales when...
TRANSCRIPT
1
Company Confidential
Pursuit of Marketing Effectiveness: Accelerating sales when
property markets are uncertain
Bjorn Sprengers | CMOPropertyGuru Group
3 May 2018
2
Company Confidential
My Approach Today
Developer Needs
Marketing Best
Practices
DeveloperNeeds
ConsumerTrends
MarketingBest
Practices
3
Company Confidential
..3
MissionHelp people make confident property decisions through Relevant Content, Actionable Insights, and World-class Service
4
Company Confidential
PropertyGuru is Asia’s no. 1 Online Property Group
4
5
>550,000
>25 Million
2 Million
Leading Portals
Property Listings
Property Seekers Monthly
Sales Enquiries Monthly
~$17 Billion Transaction Value Annually
11 Active Markets
5
Company Confidential
What We Do
Sales effectiveness (ePropertyTrack)
Site & Project feasibility (Pre)Launch Post launch Remnant
1 2 3 4
Leads
Brand
6
Company Confidential
Let’s Have a Look at Developer Needs
Developer Needs
Marketing Best
Practices
DeveloperNeeds
ConsumerTrends
MarketingBest
Practices
7
Company Confidential
What unit configuration should I include in my land bid?
Who to target?Who will be able to get a loan?
What RE-agency should I work with? Does size matter?
Should I continue to pay such high commissions to appointed agencies or invest more towards my own brand?
How to optimize the effectiveness of (internal/ external) Sales teams?
How to go overseas? Which markets to target?
8
Company Confidential
Let’s Have a Look at Consumer Trends
Developer Needs
Marketing Best
Practices
DeveloperNeeds
ConsumerTrends
MarketingBest
Practices
9
Company Confidential
Source: Beyond the Bricks The future of home buying, HSBC Study, 2017
Property Search & Research has Moved Online
>90% 81%
10
Company Confidential
… And Online Means ‘Mobile’
Smartphones are the preferred way
of accessing the web for over 90% of active internet users in SEA, with
users spending an average of 3.6 hours per day on mobile web.
11
Company Confidential
To ZMOT or Not to ZMOT, that’s the Question!
12
Company Confidential 12
13
Company Confidential
Consumer expectations shaped by out-of-category experiences
14
Company Confidential
Let’s Have a Look at Marketing Trends
Developer Needs
Marketing Best
Practices
DeveloperNeeds
ConsumerTrends
MarketingBest
Practices
15
Company Confidential
Build Your Brand on Authenticity & Purpose
“Singleness of purpose is essential for all success in life; no matter what may be one’s aim.”John D. Rockefeller
16
Company Confidential
Marketing Accountability & Media Effectiveness
17
Company Confidential
BEAM is our Proprietary Method for Accelerating (Brand) Media Effectiveness
What does it aim to deliver?
• Insights into what channel (eg TV, OOH, Online display) works hardest for brand?
• Understand optimal investment levels per channel?
How does it work
• Apply quantitative (performance mrkt) techniques to branding
• Replace static media plans with high-velocity media experiments
• Replace agency commissions with performance-based compensation
What is BEAM?
(Proprietary) Media spend optimization strategy that quantum leaps Media ROI
18
Company Confidential
The Math Behind BEAM
Multiple linear regression attempts to model the relationship between the independent
variables (media inputs) and the dependent variable (BQI) by fitting a linear equation to the
observed data. Put simply, this process allows us to understand through the formula below,
what is the relative impact of each input on BQI.
𝑩𝒓𝒂𝒏𝒅𝑬𝒒𝒖𝒊𝒕𝒚 = 𝛼 + (𝛽1 ∗ 𝑇𝑉) ∗ (𝛽2 ∗ 𝑅𝑎𝑑𝑖𝑜) ∗ (𝛽3 ∗ 𝑃𝑟𝑖𝑛𝑡) ∗ (𝛽4 ∗ 𝑂𝑂𝐻) ∗ (𝛽5 ∗ 𝑂𝑛𝑙𝑖𝑛𝑒) ∗ 𝛽6 ∗ 𝐸𝑐𝑜𝑛𝑜 …
19
Company Confidential
Strong Difference in Channel Effectiveness (ie Impact on BQI) Across Media ChannelsExample Malaysia
20
Company Confidential
To Service or to Die…!
21
Company Confidential
To Service or to Die
The odds of qualifying a lead decline by over 6 times in
the first hour
-600%
22
Company Confidential
Artificial Intelligence
and Machine Learning
Artificial Intelligence & Personalization
AI-enabled hyper-personalized search
23
Company Confidential
Marketing Best Practices… In Summary
Immersive experiences
PropTech
Personalisation
ServiceExcellence
MarketingAccountability& Media Effectiveness
24
Company Confidential
Best Practices at the Sweet Spot
Developer Needs
Marketing Best
Practices
DeveloperNeeds
ConsumerTrends
MarketingBest
Practices
25
Company Confidential
Best Practice 1: Brand Thyself
26
Company Confidential
Best Practice 1: Brand Thyself
27
Company Confidential
Best Practice 2: Leverage Data & Technology for Better Targeting & Higher Media ROI
• RM 1.5bn GDV project in an over-supplied Sentral KL area
• Pre-sell at least 200 units of first phase
• Needed 1,800 pre-sales registrations within 4 months (Q4,2016)
The Problem The Results What’s NextThe Solution
Phase II: Sales automation partnership
22m views on
PropertyGuruInventory
6k validated leads
28
Company Confidential
Best Practice 3: Use Technology to Convert More Leads into Sales
How are the best Developers increasing their lead conversion rates?
29
Company Confidential
Online Booking & payment
Point of SaleDetailing
LeadManagement
30
Company Confidential
LeadManagement
Auto-Capture Captures and unifies leads from all channels into a single bucket
Smart-AssignEnsure fast response by auto-assigning your leads to your right sales reps based on your preferences. Sales reps will need to accept the lead before it expires and goes to the next rep.
AnalyticsGet insights into conversion rates for your lead sources and sales reps’ performance to easily plan & manage your business.
31
Company Confidential
1 Agent is notified of new lead
2 Agent loses lead if respond too late
3Agent must update
status to receive new leads
32
Company Confidential
From Anywhere In The WorldPoint of SaleDetailing
33
Company Confidential
Point of SaleDetailing
34
Company Confidential
Online Booking & Payment
Lock a unit online Online down-payment
35
Company Confidential
The Sweet Spot… In Summary
Leverage Data & Technology for Better
Targeting & Higher Media ROI
Use Technology to Convert More Leads into
Sales
At Point of Sale, Enable Direct Booking & Down
Payment
Brand Thyself Immersive Experience at Point of Sale
1 2 3 4 5
36
Company ConfidentialCompany Confidential
Get in touch!
propertyguru.com.mypropertygurugroup.com
Bjorn SprengersCMO
37
Company Confidential
Thank You!