The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
TechnologyStaff WriterThu 25 Aug 16

Modern Property Marketing Strikes Chord With Millennials

iStock_86799513_SMALL_620x380

Today’s millennials are fast turning their backs on traditional marketing, instead choosing to consume and interact through virtual reality.

This willingness to buy into the imaginary and immaterial is leveraging into tangible sales, according to Marshall White Projects Director Leonard Teplin.

“This generation has changed the game; they are heavily reliant on the digital sphere and entrust it with major life decisions,” says Marshall White Projects Director, Leonard Teplin.

Marshall White Projects has seen success in the digital sphere, putting an apartment complex at 308 Carlisle Street, Balaclava on to market without a display suite nor budget for print advertising.

Each of the Victorian property's 45 apartments were sold in under six weeks, with the majority of purchasers aged between 25 and 35.

“These buyers are far savvier for having grown up in a digital landscape, their discerning tastes transcend the physical with renders, fly throughs and 3D floorplans of greater value to them than a stagnant display suite,” Mr Teplin said.

Marshall White Projects have taken advantage of this changing market before, with a sale earlier this year of 27 luxury apartments at High & Spring in the same timeframe without any traditional or digital advertising.

As a result, the sales achieved an average of approximately $1,050,000 per apartment.

“Buyers are overloaded with choice and bombarded with advertisements, which has made them less perceptible to traditional marketing tactics,” comments Teplin, who sees this as an opportunity to better invest the hundreds of thousands of dollars developers would spend on lavish display suites into innovative alternatives that are not only cost and time effective, but more authentic and impactful.

“In order to be effective you must know your audience, what they value, who they trust, where they source their information – these things often hold more significance than their gender or profession and allow us to develop tailored marketing strategies that resonate with our buyers on a deeper level.”

Mr Teplin believes that the embrace of the digital sphere simplifies the sales process and leverages technology, videography, photography, renders, brand partnerships, and direct marketing to achieve a far more cost effect result within the shortest possible time frame.

OtherAustraliaMarketingTechnologyProject
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
The latest approved scaled-back plans are for a 31-storey tower comprising 172 apartments…
LATEST
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
3 Min
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/modern-property-marketing-strikes-chord-millennials