SELL A RESORT THAT NO ONE HAS HEARD OF, FROM A FIRST-TIME DEVELOPER, ON AN ISLAND THAT NO ONE KNOWS EXISTS.
NO MAYBES
International property investors are the ultimate maybes. They are swamped with investment opportunities, they are totally dispassionate - it is all about the return, they don't care about brands, they are rarely loyal to a developer. And they usually take a long time to become convinced about an investment opportunity.
INCITEMENT We wanted investors to clamor to buy. The resort had the power to incite investors. The island is the nearest thing to a desert island in Europe ; the island is protected against over-development - there will only ever be one resort on the island; there is a 5-star hotel resort & spa run under the Starwood Luxury Collections brand. It is only 4 hours from London . And only 70 beach apartments were being released.
PROFITABLE EXPERIENCES The strategy was focused around discovery.
Investors want to be the first to hear about an investment - if they do then they are more likely to be favourably predisposed towards it from the outset. So we created a whispering campaign by seeding the resort amongst selected investors. And we supported it with dm that introduced Colombo's Resort to the chosen few.a postcard from a fictitious friend sent from Colombo's Resort.
Investors also want to be the first to get a chance to buy. So we sent an exclusive invitation to see the resort at an exhibition in Dublin and London.
Investors do not just read the property press. So we supported all of this with press advertising outside of the property press - using media that elevated the resort in the mind's of investors. The response materials (web site & brochure) built on the feeling
of complete exclusivity.
Only then did we employ the more traditional property press.
EFFECT RESULTS
The sales agents had received deposits on 60% of the units, and the Dublin exhibition was already a sell-out - before the mainstream property press campaign was launched.
Prices were increased by 15% on the remaining units.
The London exhibition was cancelled, because there wouldn't be any units left.
The client will come back to the market in 6 months time, with dramatically increased prices.
