BEST MARKETING CAMPAIGN PEABODY SALES CAMPAIGN

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1 BEST MARKETING CAMPAIGN PEABODY SALES CAMPAIGN

2 WITH A MARKET-LED APPROACH; A TRUE UNDERSTANDING OF THE TARGET MARKET(S), CUSTOMER NEEDS AND WANTS AND HOW THESE WERE MET 01 In order to obtain a clear idea of its market s views and how to maximise profitability, Peabody conducted extensive research into buyers in the capital. This consisted of 17 in-depth interviews at 11 central London new build sites (including filmed vox pops), 418 online surveys, telephone interviews and a breakfast briefing with senior sales executives from leading UK and overseas estate agents. The research revealed key factors homebuyers deem important when purchasing a property, including; 47% of respondents favouring good public transport, 43% wanting their own private outdoor space and 35% desiring a good-quality finish in their home. 51% of those interviewed agreed names of housing developers are easily forgotten and did not recall logos easily; whilst 57% of people used online property websites in order to conduct research on their potential new home. Peabody also discovered 66% of people knew about the company, and 55% of these were aware that Peabody builds new homes for private sale. With this in mind, Peabody created the new Peabody Sales website catering for people who search online and maximise exposure of its developments. Most Peabody homes have their own private balcony or garden, and quality specifications. Great transport links are also an important feature of many properties. Research also indicated buyers value the history and robustness of a housebuilder. Therefore, Peabody developed a clear strapline and call-to-action London has been our home for over 150 years. Make it yours, used throughout the campaign. Further research revealed website traffic is evenly distributed across mobile, tablet and desktop devices. The Peabody Sales website was therefore designed to be completely responsive, always ensuring a positive customer experience. 17 IN DEPTH INTERVIEWS AT 11 CENTRAL LONDON NEW BUILD SITES 418 ONLINE SURVEYS

3 47% FAVOUR GOOD PUBLIC TRANSPORT 51% SAID THAT DEVELOPERS' NAMES AND LOGOS ARE QUICKLY FORGOTTEN 66% ALREADY KNEW ABOUT PEABODY AS A COMPANY 43% WANT THEIR OWN PRIVATE OUTDOOR SPACE 57% USE ONLINE PROPERTY WEBSITES TO CONDUCT RESEARCH 55% KNEW THAT PEABODY BUILDS NEW HOMES FOR PRIVATE SALE LONDON HAS BEEN OUR HOME FOR OVER 150 YEARS. MAKE IT YOURS.

4 MARKETING OBJECTIVES AND HOW THESE WERE ACHIEVED 04 Original objectives of the Sales campaign incorporated; raising awareness of Peabody as a private sale developer generating sales simplifying the customer experience An initial highlight came when David Spittles from the London Evening Standard counted Peabody as one his three developers to watch in Masterminding a new garden city of 7,000 properties at Thamesmead, Spittles recognised and shared many of Peabody s achievements since being founded in 1862 to a readership of over 900,000. PUT YOUR STAMP ON A PEABODY HOME To improve the customer experience, Peabody developed a new sales website, simplifying the property search experience. The Peabody Sales website launch event and on-going online presence have further contributed to raising awareness of Peabody, in addition to the printed composite adverts in London s key press. All of these elements combine to generate sales of private and Shared Ownership homes in London. Peabody s mission is to make London a city of opportunity for all, ensuring as many people as possible have a good home, a place that is safe, warm, clean, light, and well-maintained somewhere that evokes personal pride. Peabody s stamp duty campaign helped reach many young workers in the capital and showed that buying their own home in a central location was within their financial grasp. The stamp duty campaign targeted first time buyers with an alternate strapline/call-to-action Put Your Stamp on a Peabody Home and ultimately managed to promote Peabody s private sale properties across London via an array of digital and traditional methods. Using a series of ads with simple straplines, targeted ads on Google PPC, Facebook, display network banners, Zoopla s, a Time Out MPU plus a referral from a banner on the Peabody corporate website, Peabody drew a great response with 16 sales of private sale homes. Lock Keepers in Bromley-by-Bow performed particularly well and accounted for half of these.

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6 06 Peabody Sales campaign results against objectives (May 2014 to March 2015) 431 SALES RESERVATIONS (OBJECTIVE: 340) 5,054 REGISTRATIONS (OBJECTIVE: 3,000) 387 VISITS TO SALES WEBSITE PER DAY, AVERAGE (OBJECTIVE: 250) Stamp Duty campaign results against objectives (December 2014 to January 2015) 16 SALES RESERVATIONS (OBJECTIVE: 10) 109 VIEWINGS (OBJECTIVE: 40) 855 NEW LEADS (OBJECTIVE: 480) 812 VISITS TO SALES WEBSITE PER DAY, AVERAGE (OBJECTIVE: 500) 235 LEADS FROM GOOGLE PPC (OBJECTIVE: 100) 103 LEADS FROM PRESS ADS (OBJECTIVE: 80) 29.47% OPEN RATE OF ZOOPLA ERS (OBJECTIVE: 20%) 18.53% CLICK THROUGH RATE OF ZOOPLA ERS (OBJECTIVE: 10%)

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8 A FULLY INTEGRATED MARKETING CAMPAIGN 08 To reach as many potential buyers as possible and maximise profitability, Peabody used a wide range of marketing tools during its sales campaign. With a target audience of mainly first time buyers in the stamp duty campaign, Peabody utilised a variety of advertising methods including: Advertising in key London newspapers Targeted ads on Google PPC Facebook Display network banners Zoopla s A Time Out MPU A referral from a banner on the Peabody corporate website Peabody developed a recognisable brand for the stamp duty campaign that could be used across all platforms both online and offline, using a simple strapline, a red stamp logo and appealing visual images of the homes and the London skyline. The branding drew great results across all campaign material, and the call to action in this campaign came with a simple message, Put Your Stamp on a Peabody Home. Traditional marketing methods were also used to raise awareness of the properties, including adverts placed in local print media. Composite adverts were placed in The Metro and The London Evening Standard, whilst coverage of the Peabody Sales website launch was achieved across regional and trade publications including Social Housing, The Times and Estates Gazette.

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10 MARKETING COLLATERAL 10 The stamp duty campaign featured targeted ads across a range of print media including the London Evening Standard and the Metro with the strapline Put Your Stamp on a Peabody Home. The campaign spoke directly to first time buyers with We are proud to help Londoners get a foot on the property ladder. These ads included details on developments; More West W10, Coopers Rd SE1, The Peltons SE10, and Lock Keepers E3, including starting prices and contact numbers. All campaign collateral invited interested prospective buyers to a two day event proving highly successful. The Peabody Sales website continues to generate a significant volume of leads and features information on the developments in Peabody s London-wide sales pipeline.

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12 MARKETING COLLATERAL 12 To bookend the campaign, new homeowners are greeted by the Sales and New Homes teams with a bespoke welcome card, incorporating consistent visuals to the rest of the campaign. On the inside of the card is a revised strapline London has been our home for over 150 years. Now it s yours. evoking the aspiration and accomplishment of achieving

13 PEABODY SALES LAUNCH EVENT

14 RETURN ON INVESTMENT AS A RESULT OF THE CAMPAIGN 14 The overall Peabody Sales campaign was a huge success, with over 5,000 registrations on the website to date. The campaign also had a positive effect across Peabody s microsites. 477 online registrations (855 across all channels) occurred during the course of the stamp duty campaign, with 16 homes reserved in total. The on-going awareness of Peabody as a private sale developer has seen 431 sales reservations made since the start of the Sales campaign, and a consistent level of traffic to the website. Return on investment for the stamp duty campaign alone was excellent, with 16 sales of Open Market homes and Lock Keepers in Bromley-by-Bow performing particularly well and accounting for half of these. The sales website also received the highest number of visits in a single day on 13th January, at the height of the multichannel campaign. Website traffic increased substantially during the campaign. The promotional incentives and cross channel advertising resulted in a 3.7 times increase in traffic during the campaign (197 without advertising, 812 visits per day during campaign, 375 during a composite campaign). To the end of the financial year, March 2015 Peabody achieved 6.5 million in revenue from customers who originally registered directly on the Sales website. An additional 15.7 million in revenue was achieved through other marketing channels, further demonstrating positive ROI for Peabody. The success of press advertising was measured using trackable phone numbers, generating 103 enquiries during the stamp duty campaign alone. 5,054 PEOPLE REGISTERED ON THE SALES WEBSITE 431 SALES RESERVATIONS SINCE THE START OF THE PEABODY SALES CAMPAIGN 855 PEOPLE REGISTERED DURING THE STAMP DUTY CAMPAIGN 812 WEB VISITS PER DAY DURING THE 'STAMP DUTY' CAMPAIGN. A 3.7 TIMES INCREASE 16 HOMES RESERVED DURING THE 'STAMP DUTY' CAMPAIGN 22.2M IN REVENUE GENERATED THROUGH THE CAMPAIGN

15 MORE WEST, LATIMER ROAD W10

16 16 LOCK KEEPERS, BROMLEY-BY-BOW E3

17 FEEDBACK FROM BUYERS WAS POSITIVE WITH SEVERAL OFFERING TESTIMONIALS ROSS BARKER & TARA HOUNSLEA LOCK KEEPERS, E3 HAYLEY MORRIS LOCK KEEPERS, E3 Ross Barker & Tara Hounslea bought a two bedroom apartment at Lock Keepers E3 after struggling to find a place within budget. A FRIEND TOLD US ABOUT PEABODY AND WE DIDN T HEAR A BAD WORD SAID, WHICH GAVE US CONFIDENCE, says Ross, a sales manager. Ross and Tara had struggled to find a place large enough, in the right location and within budget. Ross explains, OUR FRIENDS WITH SIMILAR BUDGETS IN THE NORTH ARE BUYING SEMI-DETACHED HOMES, BUT WE WORK IN LONDON AND IT S A LOCATION WE WANT TO STAY IN. The couple registered their interest and were invited by Peabody to a special weekend with the incentive their stamp duty would be paid. IT WAS THE DECIDING FACTOR FOR US, He adds, GETTING THE MONEY TOGETHER FOR THE STAMP DUTY WAS ONE OF THE MAIN OBSTACLES TO BUYING Hayley Morris, 25, bought a fourth floor flat at Lock Keepers E3. I D BEEN RENTING IN EAST LONDON BUT IT WAS SO ExPENSIVE, Hayley explains, I REALLY DIDN T WANT TO WASTE ANY MORE MONEY. Hayley went to see several new developments, including another by Peabody but decided that smaller developments were much more her style. I MUCH PREFERRED TO BUY INTO A SMALLER DEVELOPMENT AND THAT S WHEN I DISCOVERED LOCK KEEPERS. Hayley was reassured by Peabody s history and commitment to the community and environment. She says the incentive offered made all the difference, I DON T THINK I COULD HAVE AFFORDED IT OTHERWISE AND I CERTAINLY COULDN T HAVE AFFORDED TO BUY ON THE FOURTH FLOOR, I D HAVE HAD TO GO DOWN TWO FLOORS. Hayley opted for Peabody s deal of 3% off the asking price instead of stamp duty paid. She says, IT WORKED OUT MORE AND HAS MADE MY MORTGAGE CHEAPER.

18 peabodysales.co.uk