Realty Trust Group, Inc is Portland's premier, locally owned real estate company. Since 1997, their customer centric philosophy and locally grown talent has created a phenomenal success. Their agents have a keen understanding of Portland's neighborhoods toshare with their clientele in their search for the perfect home or work space. Realty Trust prides itself on its affinity for Portland and involvement with many local community issues and organizations.
Program Description
Realty Trust is the primary agency for The John Ross, a 31 story luxury tower residence in the South Waterfront district of Portland. The residences range in price from the low $200's to upwards of $4 million. Their challenge was reaching out to a largely affluent and discriminating audience to begin the sales process for a building that had not yet been built. Realty Trust asked eROI, Inc to provide some interactive and dynamic marketing strategies through a series of email & database marketing campaigns.
Program Objectives
- Contact and qualify potential property investors
- Drive investors to meet with Realty Trust agents and place initial down payment on a John Ross property - Provide follow up information and news
Target Audience
"Urban Connoisseurs" interested in fine living in a cosmopolitan setting seeking a New York City experience in the Northwest. Age ranges typically 35 and older executives and empty nesters.
Strategies
The primary strategy was to create a "conversation" with the audience while using "exclusivity" and "limited timing" as a means to motivate responses and secure investments in the properties. eROI utilized website imagery and architectural renderings to depict The John Ross "lifestyle" in a series of timed emails. The primary objective was to utilize the right mix of imagery and messaging to slowly reveal The John Ross as an exclusive offer to its recipients and urge them to "get in early" by indicating there was a limited amount of time to secure their piece of this lifestyle.
The initial email simply "introduced" them to The John Ross and requested the recipients to indicate if they would be interested in receiving additional information. Next, a private announcement of the website launch was sent, increasing the sense of having exclusive knowledge. In addition, the recipient's appetites were whetted further by leading them to The John Ross website full of floor plans additional images and information. Within days, all interested recipients received an invitation to set an appointment time with a Realty Trust agent to see model floor plans and ultimately place an initial down payment on a unit. Subsequent emails were sent as reminders to set an appointment, thank you's and then ultimately to request to be placed on the waiting list to reserve a unit.
Results
Within 5 days, over 80% of the 286 units in The John Ross were reserved totaling $93 million in booked revenue. This level of success had never been achieved in the Portland market. Reaching an 80% booking typically takes a matter of months to achieve.
Average email read rates generally are 25% and click through rates typically average 5%. The read rates for The John Ross emails ranged from 50% (on the initial email campaign to the entire list) to 84% to a self-selected targeted group of interested buyers. And The John Ross click through rates ranged from 20% to a whopping 50% for the most targeted email campaign.
The Email Experience Council, LLC
The Email Experience Council, LLC is a champion for digital communications centered on the point of view of the inbox owner. We are a global professional organization. We strive to enhance the image of email marketing and communications, while celebrating and advocating its critical importance in business; its ROI value. Through the active proliferation of email and digital marketing best practices, case studies, trends, cutting edge technologies and strategies, the eec is an actionable resource for professionals and a beacon for the evolution of the email channel.
The eec is committed to regularly conducting a broad series of email initiatives for a variety of organizations that highlight the positive impact and importance of email as a marketing tool, communications vehicle and branding device. eec members are representative of other trade organizations and the leading agencies, advertisers, technology partners, service providers and brands focused on the potential of email and digital marketing.
