Approach to Marketing
Approach to Marketing
Our Approach
Management requires comprehensive knowledge, expertise and practical application of a complex and multi-faceted function. In order to optimise a management model, management should be involved from the early stage, right through to accountable delivery.
The success of a residential development requires a combination of optimum space/liveability design and appeal, combined with developing the right product at the right price point with built-in operating efficiency and product durability at every possible point. Marginal gains at every point in the use of space, design, product specification, operation and delivery model make considerable difference to the financial probity and ultimate performance of the asset. This is the value add that our 20 years of experience in large scale development management will bring to the process. Our advice is often called upon during the origination phase, when an opportunity has been identified and further market information/critique is required to assist with proof of concept and assess the operational merits/metrics. Our service is also called upon during construction/completion where there is an opportunity to influence the scheme and we can identify value add.
Our expertise and services in this area include:
- Demographic analysis and market research for locations and site opportunities
- Investment and operational critique of PRS/BtR investment opportunities
- Concept modelling for development appraisals for investment viability
- Input on scheme layouts, mix, specification, staffing, rents, life-cycle, absorption, target demographic and operational insight for design decisions and value impact
- Advising on estate and FM strategies
- Developing and model operational budgets (including development phasing impact assessment)
- Creating and advising on concept brand, product and service proposition and marketing strategy through to front end delivery
- Scoping customer experience masterplan
- Scoping operational set up, additional revenues, services and amenities and procurement strategies
Research
In addition to experience, research and data further informs the consultation and value add process by providing the evidence and basis for trend analysis, rental demands, rental growth, product suitability and ultimately the service proposition.
Our in house specialist research team are experts in assessing the fundamental market drivers and demand for rental product at a granular, local level right through to overarching market fundamentals. Our rental research encompasses resident profiles, target markets, employers, affordability, local amenity provision, transport and comparable competition.
We have access to vast amounts of data and use an extended network of contacts to source information and undertake analysis / identify trends. We collectively tap into our industry contacts and use our database of clients, investors, residents and tenants, plus data from units under management.
We have an excellent track record in research and analysis for different types of product across the UK and have built up a substantial database of research.
Developing the Service Proposition
Through research, we make informed decisions on product suitability, resident service provision, letting and marketing strategy, additional revenue generators, onsite amenities, and sculpt the customer experience masterplan and customer service strategy. This strategy then feeds the operational strategy, resourcing, management structure, staffing proposal, operational manuals, policies, and procedures, which in turn ensures consistency of service delivery and robust asset performance.
How we market
Once the research has been undertaken, rental levels set, proposition established and client objectives known, we turn our attention to the marketing plan and campaign strategy.
We work directly with our in house marketing department as well as leading creative, marketing, PR and communications agencies to create, tailor, deliver and monitor bespoke brands and campaigns.
In house capability
Allsop has extensive experience in marketing, brand positioning and event management. Our in house team provide support to the various internal departments and therefore hold wide perspective on marketing tactics and event management. The team is supported by reputable external agencies which allows for expanded capacity as well as insight on leading edge industry trends, new technologies, channels and developments. They regularly produce collateral and a variety of marketing material for both the commercial and residential sides of the business such as brochures, e-campaigns, adverts, email shots, and web copy for both consumer and business audiences. They are well versed in facilitating brand identity for specific developments.
The team actively support our white labelling capability helping to ensure brand guideline compliance and quality assurance for clients. This team is also integral to the business’s event management, generation of ideas and concepts, coordination and administrative support which aligns well with resident engagement tactics and hosting onsite events.
We see this team as integral to assisting in the marketing and support of resident engagement as well as an opportunity for the protection of the wider landlord corporate brand.
Mediums
We typically use online mediums to advertise available property, using Rent Café, the leading distribution portals, as well as digital media advertising campaigns that focus on SEO activity and Google PPC. We also consider print campaigns and other mediums and traditional PR channels, depending on the demographic, accessibility, timing and location. Online performance, enquiries, viewing statistics and customer feedback are captured and reviewed on a weekly basis so appropriate changes to strategy can be made. Click this link to see a typical Allsop design marketing portal https://www.thepioneershoulton.co.uk/
Letting and Leasing
Our approach to lettings and leasing is to make the process for applicants easy, transparent, convenient and enjoyable. We know the process, legislation and compliance ‘inside out’ and have the benefit of experience and ability to focus on the service element.
We facilitate all mediums of customer contact – virtual, face to face, email or over the phone. In line with consumer trends, we are moving more toward virtual services, however we value one on one customer interaction above all else. We like to get to know our customers and ensure they are well informed.
As mentioned earlier, we have invested in our innovative Virtual Agency platform, which we believe is a service differentiator over many, as a letting mechanism, and feedback from applicants has been very positive with 95% of online applications received being accepted and proceeding to move in.
The lettings and leasing process has several key elements and below highlights areas of particular focus and our approach.
Vetting
- We provide extensive amounts of information to residents to help customers understand the letting process including a detailed and branded residents handbook, requirements for references, financial commitment and what to expect
- We believe in a robust referencing process to manage risk and adhere to strict referencing criteria which we prefer to be above industry standard measures. Our experience tells us this stringent process results in low possession claims and minimal voids periods
- Criteria is tailored to client requirements, each development and project, and we generally advise criteria to be based on market rents and salary bands
- Visa and passport checks – The Immigration Act dictates that agents should now check for visa validity for the first day of any tenancy giving any PR the ‘right to rent’ – we prefer visas to span the entire length of the tenancy
- We generally use UK Tenant Data and Let Alliance for national / international referencing, however can and have used other suppliers
Letting
- We work with clients to create bespoke tenancy conditions and processes including tenancy length, break clauses, pre tenancy conditions, incremental rental increases for tenancies longer than 12 months, termination notices and guidance on possession proceedings
- We recommend longer term tenancies, where possible12-36 months and would caution the issue of licences over ASTs, except where an appropriate use is involved i.e. carparking lease
- We encourage robust processes for renewals and agreeing uplifts in rent; the process involves early contact with the resident, seeking advice and instruction from our client and / or agreeing parameters in advance. Renewal processes are driven through electronic document signing.
- We support transparent and fair increases (ie CPI plus uplift %) adding weight to being fair and honest and enhancing reputation
- We carry out extensive market research to ensure accurate pricing which in turn minimises voids and maximises returns
- We believe in maximising rents, however we also believe that higher occupancy in a shorter timeframe is more lucrative – you can never make up lost revenue due to vacancy, it is dead time
- Generally we prefer to set and agree rent tolerance levels in the vicinity of 3-5% so we are able to efficiently process and agree lets with applicants
- We believe long term relationship building equals long term tenancies, a low churn rate, high retention and ultimately a better financial performance and hence our ethos is to encourage our staff to get to know their residents and develop genuine ties where people care about each other
- We accommodate and encourage inter portfolio moves / support life changes – we are after all, creating a sense of community and people help each other in communities
