Latest News

Money Laundering registration now open for letting agencies

26 May 2020

Registration for UK letting agencies is now open with Her Majesty’s Revenue & Customs (HMRC) who are the supervisory body for the property sector. Read More...

Furlough Scheme must flex to support recovery

26 May 2020

NAEA Propertymark continues to talk to Government departments about the needs of the sector, the disparity between activities allowed in England, compared with Scotland, Wales, and Northern Ireland and the cautious progress of recovery and consumer confidence. Read More...

SSP reimbursement now available

26 May 2020

The Government has announced that employers in England can claim Statutory Sick Pay (SSP) Reimbursement from today, Tuesday 26 May 2020 which form part of their financial support to businesses during the COVID-19 pandemic. Read More...

Scottish Government releases phased route map

22 May 2020

A five-phase route map was released on 21 May, with a brief mention in Phase One about the safe reopening of the housing market. Read More...

Scottish Government to introduce additional changes to the property sector

21 May 2020

The Coronavirus (Scotland) No 2 Bill was passed on Wednesday 20 May and is likely to receive Royal Assent imminently. The Bill introduces new emergency measures and adds to the changes made by the Coronavirus (Scotland) Act 2020. Read More...

Agents to ensure ‘newly listed’ properties fall within guidance

21 May 2020

As agents in England are now able to conduct viewings, descriptions such as ‘recently added’ or ‘new instruction’ prior to lockdown will no longer be valid for properties that have been re-listed, or because the market was suspended. Read More...

Moneypenny's outsourced sales service supporting agent's recovery

21 May 2020

Propertymark Industry Supplier, Moneypenny, has launched Client Services – a dedicated service to help estate agents kick-start business as the property market reopens. Read More...

Post pandemic plan: What agents should consider if a second #StayAtHome occurs

21 May 2020

Given the uncertain times ahead, agents should consider revitalising their agency and continue adapting to reap the benefits if a second stay at home measure may be on the cards. 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