The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
OtherStaff WriterThu 23 Nov 17

Reducing Cost Per Sale with Michael Bird and Nik Sproal of Social Garden

TUD+ MEMBER CONTENT
social-garden
SHARE
print
Print

Michael Bird and Nik Sproal of Social Garden discuss channel coordination, finding underpriced media channels and connecting with your consumers to drive a lower cost per sale.

If you’d like to learn more about your consumer’s digital media ecosystem, register and be one of the first to receive a free Consumer Insight Report - only to the first five.

Register here.

[Related reading: Customer Experience: Driving Competitive Advantage]

Video Transcript

Mike:

Hi, my name is Mike Bird, I’m the CEO here at Social Garden and today I’m with our property director, Nik Sproal, and we’re talking about channel coordination.

So what it means is really looking at what does the consumer digital media ecosystem look like and how can we leverage mispricing within those channels to really connect with consumers and drive a lower cost per sale.

So, Nik, how can property development company and real estate agencies reduce their cost per sale and create competitive advantage through a better understanding of today’s digital media ecosystems and the digital channels that prospects are looking at before they go on to buy a property.

Nik:

Yes, look, I must admit, Mike, it’s a really good time to be a property marketer. Ten years ago, when I was on the tools on the client side, it was one channel and one channel alone and maybe a bit of domain as well.

The beauty now is we’ve got a massive of ecosystem of channels to market so it’s much more of an egalitarian environment where you’ve got multiple different ways to touch base with the audience but equally importantly each channel serves a different purpose.

The better you can understand the purpose of each of those channels and how consumers are using them and how to connect the dots between each one the more likely you are to be more efficient with your media spend and therefore achieve much better cost per sale.

Mike:

Yes, totally, I mean certainly with people are on the major publishing websites without a doubt they’re in the property market -- those are great intent markers.

Nik:

Absolutely.

Mike:

But the reality of the situation is that just because someone is on one of those sites today doesn’t mean they’re not on other sites. With 71% market penetration on platforms like Facebook and Instagram, we’re seeing a huge opportunity for underpriced media for developers and real estate agents to really connect with those consumers in a low cost environment and then drive them through to that sale and really have a blended approach.

Nik:

Absolutely. I think the beauty of it is is that for each project in each market you’ll have subtle differences between how each channel’s performing. The more you can move money between those environments to where you’re getting the right message, the right customer, at the right price, the better your campaigns are going be and ultimately the bottom line reflects on that.

Mike:

Yes, I mean it’s a lot like a channel strategy, some channels are going to be more cost effective, some are going to be more expensive. But what we find really works is when you have a mix of all different channels, making sure that you’re thinking about the consumer and the level of intent, and where they’re at in the stage of the process, as opposed to thinking this channel, this strategy.

Nik:

Yes, the beauty of having those diverse strategies is when you get people at all stages of purchase cycle and therefore you can have a really rich data base if you get their intent early enough as well, to be able to really run your sales process effectively and you know that you’ve got X amount of hot leads, X amount of warm leads and X amount of prospectors and each one is on a very different journey. So, it’s just makes the process of driving property sales that much more effective.

Mike

: Yes, I think as we’ve seen with the recent massive adoption of the property market within Facebook and within other social media based channels, we’re seeing still a massive underpricing of that media relative to some of the returns and the cost per sale that we’re able to drive.

Nik:

Yes, absolutely.

Mike:

Well, we’ve actually created a consumer insight report for the first five people that request it. So what we’re doing is seeing how many of your prospects in your CRM are also on Facebook and Instagram and we’re providing that report free of charge.

So, for the first five, drop in your details and we’ll run that report for you. All the best!


The Urban Developer is proud to partner with Social Garden to deliver this article to you. In doing so, we can continue to publish our free daily news, information, insights and opinion to you, our valued readers.

OtherInternationalMarketingTechnologyOther
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
The Dorcas Street project replaces demolished walk-ups with 131 modern apartments, the first step in a multi-stage redev…
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/reducing-cost-per-sale-michael-bird-nik-sproal-social-garden