Latest News

Greater flexibility built into Job Retention Scheme

01 June 2020

Chancellor Rishi Sunak announced on Friday 29 May, changes to the Job Retention Scheme (commonly known as the Furlough Scheme). Read More...

Electrical safety guidance – England

01 June 2020

The UK Government has today, 1 June 2020, released guidance on the Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020. Read More...

NHS announce stay at home measures on the back of new test and trace service

29 May 2020

With effect from 28 May 2020, individuals who have been notified that they have had contact with an infected person and instructed to stay at home for 14 days under the new NHS test and trace system will also be deemed incapable of work and eligible for SSP (statutory sick pay). Read More...

Tenant Fees Act 2019 – Transition period comes to an end

29 May 2020

The Tenant Fees Act 2019 provided for a 12-month transition period for tenancies which started before June 2019 and ends on 31 May 2020, meaning any tenancy clauses in existing contracts that charge fees will become unenforceable after this date. Read More...

Easing of lockdown restrictions in Wales

29 May 2020

First Minister Mark Drakeford has today announced the latest parameters for movement in Wales. The announcement focused on allowing some social interaction but was clear that the priority is physically limiting spread. Read More...

Tenant fee ban – 10 top tips for letting agents

29 May 2020

As part of ARLA Propertymark’s Tenant Fees Tool Kit, we’ve put together 10 of our top tips for letting agents ahead of the Tenant Fees Act 2019 12-month transition period coming to an end on 31 May. Read More...

Property sector moves into Phase One in Scotland

28 May 2020

The First Minister of Scotland, Nicola Sturgeon, has said that the conditions are there to allow Scotland to move into Phase One of its four-phase route-map out of the Coronavirus crisis from 28 May 2020. Read More...

New guidance on collecting belongings

28 May 2020

The Welsh Government has issued new guidance for tenants who wish to return to rented accommodation to collect possessions during the Coronavirus pandemic. Read More...

Post Pandemic Plan: Why market and brand research are so important

Friday 01 May 2020

During the pandemic, agency’s brands should continue to advertise, but the way in which they communicate must be addressed given the significant change in life as we know it. Use this time to analyse your agency and potential customers by utilising data that is already at your fingertips.

Life for every person has changed significantly due to COVID-19, which has led to changes in the way customers are interacting, purchasing from businesses and gaining information.

The saying “if you keep doing what you’ve always done, you’ll keep getting what you’ve always got” does not apply anymore. Businesses can no longer continue to work the way they always have done, but instead, will need to make changes. In order to hit the ground running once restrictions on social distances loosen, agencies will need to investigate changes and how their business can adapt to fit.

Brands

Brands are not defined just by their products or services but consist of much more. A brand has its own personality, mission, goals, ethos, and even its own humour.

Agencies should spend time understanding how its communications and messaging alter brand perception by focussing on these three main points:

  1. Understanding the competitive market
  2. Understanding the consumer market
  3. Having a willingness to change

The wider market

Market research (or marketing research) uses different techniques to gather information to better understand a company’s target market. Businesses use the information gathered to design better products, improve user experiences, and create marketing messages to attract quality leads and improves conversion rates.

Researching the market

One way for agency’s to get great insights into their customers or potential customers is to study websites, research or case studies that their competitors have published.

Agencies should research the competitive market where they plan on doing business and ask themselves questions like:

  • Who are the big players?
  • What do they bring to the table?
  • What unique opportunities are open for you to snatch up?
  • What threats exist that could impede your path to success?
  • What benefits can you offer that competitors aren’t already offering or aren’t offering well?

Researching consumers

Agency’s need to research existing customers within the market and potential customers.

  • Who are they?
  • What do they want from brands in that market? 
  • What are they not getting that they want and need?
  • How do they feel about existing brands in the market?
  • What type of pricing, features and benefits do they want?

The main question a business should need to answer is, who is my target audience and what do they want from me?

Survey your current customers

In light of lockdown and being unable to have face-to-face contact with your customers, surveys are the perfect answer to gain insight. Your customers have purchased your service and are relatively accessible to you and by asking them questions, it will not only provide insight into their decision-making process, but it will also be a great opportunity to gather content for a case study.

This will identify common interests, information sources and challenges and will help better inform future blogs, social media content and future communication with both ongoing and potential customers.

Study your web analytics

With the times we’re faced with, the online world has never been so highly regarded, it’s the tool that we need in order to function right now. Website analytics provide insights and data that can be used to create a better user experience for website visitors.

There’s a ton of data accessible to businesses through web analytics, but are they being used to learn more about buyers and others with shared values and interests. Businesses should ask themselves questions such as:

  • What are the patterns of visitor behaviour?
  • Where do they come from?
  • What keywords did they use to find you?
  • Where do they go while on the site?
  • How long do they stay?
  • What content formats are most popular?
  • Do these patterns tell you anything about where your customers are in their buying process, or what content is most effective at the different stages of their buying process?

Understanding customer behaviour is key to optimizing a website for key conversion metrics, so use this information to improve your website and landing pages to attract interested potential customers.

PROPERTYMARK WEBINARS

From the 11 May to 15 May 2020, Propertymark will be hosting a series of Marketing webinars to help businesses increase their profiles, productivity, profits and strategies.

Marketing Week webinars include:

  •        30 days to success
  •        Brand and marketing strategy
  •        Video everything
  •        Beat your competitors (on more than just fees)
  •        Prospecting for new business

Register for these upcoming webinars or sign-up to receive recordings of all our previous webinars.

Webinar recordings  Upcoming webinars