Nike have been one of the big brands that has managed to retain its large market share against the ever coming competitors. This has in turn given them the luxury of generous budgets for R&D, sponsorships and marketing to help stay at the top of the active sports category.
Brands are constantly battling for their audience’s attention in a world full of noise and competition. We are therefore seeing a number of brands reinventing the way they interact and engage with their potential customers. This can be in the form of revitalising products, developing new marketing campaigns or reviving the customer experience.
Nike have been one of the big brands that has managed to retain its large market share against the ever coming competitors. This has in turn given them the luxury of generous budgets for R&D, sponsorships and marketing to help stay at the top of the active sports category. However, Nike have also been a brand that has constantly looked at new and inventive ways to engage with their current and potential customers.
One of their new customer experiences is a pop up minimalist gym in the heart of Shanghai’s Times Square. A hexagon shaped layout featuring running pods and treadmills with walls and ceilings covered in LED screens. These display the runners’ real time efforts while also displaying them on the outside in a bid to encourage bypassers to lace up and give it a shot.
Something as simple as a pop up creates massive engagement with a wider audience for Nike. The pop up not only promotes the brand but also the overall benefits of fitness with the subtle undertones of how Nike products can help you hit your fitness goals. Giving people the chance to touch, try and use the products ingrains brand appreciation and starts what Nike hopes is a strong brand alliance moving forward.
The property industry has always been a slow adapter, only jumping onto new technology, trends and marketing principles 3-5 years after they have peaked. However, we are slowly seeing a shift in the understanding and willingness to give something new a go. This has been brought on by the many different economic, financial, and supply and demand factors affecting the industry, in particular the impact of Brexit within the UK.
With so many competitors bidding for a potential purchaser’s attention, developers have to start looking towards other industries for inspiration to help them stand out. Industries such as automotive, fashion and technology have always developed their product around the consumer which has been reflected in their marketing. A typical printed brochure and stale website no longer cuts it. We need to engage with our potential purchasers with every brand touch point and take them on a brand journey.
We can do this through harnessing the power of technology, such as virtual reality, augmented reality and mobile apps, through to marketing suites that provide a more causal relaxed atmosphere compared to the norm. Simple thinking outside the square and not limiting the ideas to what works for property is sure to open the brief and deliver exciting new ideas.
An example of this which we have been working on for a client in Sydney is creating a pop up cocktail bar marketing suite. The pop up can be transported to different locations to increase the effect and engagement in different areas. Property is not just about selling 4 walls but rather a lifestyle. Creating a cocktail bar subtly advertises the development while showcasing the lifestyle you can expect when purchasing an apartment, all while building a positive relationship between the potential purchaser and the brand.
Every experience that the customers has with the brand must start to slowly build a rapport to create trust and credibility in the product. Our purchase behaviour is determined by our relationship with brands which we build up over time.
Property should not be seen any differently to other industries and should be pushing the envelope in new ideas and experiences for the purchaser