Segmenting Customer Follow Up Efforts for Marketing Success

Let's say you are the developer for a presale condo high rise out in Burnaby. Would it make sense for you to send the same email to your investors and to your first time home buyers? 

These two groups are purchasing for different reasons, namely one is to see a return and the other is to have a roof over their heads before they upsize to the next home as their move on to the next phase in life (addition of new family members etc.). 

How can you use this information, which is supposedly gathered when interested buyers register on your website, to plan for long term marketing efforts? 

Segmenting Customer follow Up Efforts for Marketing Success

For Investors

Past the basic project announcement to state the product you are offering, ie. "1-3 bedroom homes in the heart of Vancouver", you need to split out your investor segment and target them with relevant emails. Investors are likely to look at one-bedroom homes they can purchase and rent out to young professionals for passive rental income, or to sell upon completion of the project. So what would be interesting emailer topics for this group? 

  1. Feature floor plans for 1 bedroom homes
  2. Market appreciation statistics for the surrounding area and planned city developments for the next 3 years (leading up to the project's completion date) that will bump up the value of their property. 

For First Time Home Buyers

We would also do a cross-section of the marital status data to see which of the first time home buyers are single or married. If they are single at the time they purchase their property, you can reach out to this group for upcoming projects with messaging tailored for upsizers. Your featured floor plans in the emailers would be 2 bedrooms and up. This would be relevant to the majority of this target audience segment, translating into more quality leads for your sales team to convert into sales. 

Currently, it seems the real estate market follows a retail business model where they view their online communications as a hook to bring people into the sales centre. However, with the amount of online white noise right now and over 20 projects in the market offering pretty much the same thing, how do you provide value-add outreach with your online communication efforts? Segmenting your interested buyers and tailoring the marketing message to them will help them make the next step to get in touch. 

Looking for help to create a tailored and segmented campaign to drive prospects to take action? Send us a message using our contact form to see how we can help promote your brand!

WeChat's 'Top Stories' Function - What Articles Make The List?

Many of us who are familiar with the various functions on english social media know that 'discovery' within an app is a huge factor in keeping users within the app - the more interesting things they can find to do within the app, the longer time they are going to spend there and the better the numbers look for the company.

Catalyst Agents WeChat Top Stories Function

WeChat on the other hand, has managed to integrate in daily NEEDS into the app, such as paying for bills, buying train tickets, splitting dinner bills with friends, banking, to ensure their users spend the majority of their time on the app. In fact, with all the practical functionalities within WeChat, users don't really need any other apps. 

Now, WeChat has added a function (for overseas users this is a recent addition), called 'Top Stories', where you can view the latest hit stories on WeChat. There are several categories of articles that make it into this feed: Stories your friends are reading, stories from WeChat accounts you subscribe to that are popular, and other popular WeChat articles that you may not be following but is popular in the WeChat sphere. 

So, in order for you to get your WeChat account's article to show on the Top Stories newsfeed, the article can be:

1/ popular amongst your friends on WeChat - WeChat assumes you want to read what your friends are reading

2/ popular on WeChat subscription accounts that you already follow - WeChat assumes if you follow the account you are interested in what's popular on those channels

3/ popular on the general public WeChat network - WeChat assumes you want to know what's trending overall on the WeChat platform, much like how Twitter will show you a list of hashtags that are trending

If you have your own WeChat account, make sure to encourage your friends and colleagues to read the articles you post to boost it in the Top Stories Feed!

STRATEGY: How to Use Multi-Sided Platforms To Create The Network Effect

Multi-sided platforms have become much more commonplace with the advancement in technology, with more and more businesses starting up businesses online, taking on the role of facilitating opportunities between the two parties they bring together. 

Catalyst Agents - Multi-Sided Platforms

A multi-side platform generates more value for its groups of users as it garners more users in each of the groups. 

FACEBOOK

An example would be the Facebook social media platform. With over 2 billion users on its platform, the fast-paced growth for the platform has made it a very valuable channel for online advertisers to reach targeted audiences. The platform brings Advertisers and Social Media Users together to facilitate interaction between the two parties. 

FOODORA

Another example would be food delivery services such as Foodora, where they bring together restaurants who want to serve more customers and customers who want the convenience of having lunch / dinner delivered to them. 

The more restaurants participating on the food delivery platform, the bigger the draw for customers to download the app - more choice = more attractive. 

So you can see how each of these multi-sided platforms create The Network Effect as the platform grows the distinct groups involved in making the platform 'work'. Foodora would not work without restaurants participating OR without customers ordering on the app. 

GROUPON

Another well-known example is Groupon - which allows retailers large or small to reach out to a large potential customer base. Groupon brings together these retailers and customers - one party to offer deals and the other to purchase deals together. In order to make the deal viable and profitable for the retailer and the customer, each deal needs to reach a certain threshold - this could be 50 groupons purchased for the deal or 100 groupons purchaesd for the deal. 

If Groupon didn't have the volume of purchases coming from its customers, it would not be an attractive marketing effort for retailers to supply such large discounts on their platform. 

Building Your Own Multi-Sided Platform

Wondering how you can build your own multi-sided platform? Remember that you are bringing together two groups of people who can benefit from each other. You are creating a platform for these groups to connect. Always go back to this objective - to add value for the groups you bring together. Just like for Foodora, restaurants get greater exposure to customers they wouldn't otherwise reach, and the customers gain a wider selection of food delivery options straight to their home. 

How do you add value?