The market for ultra-luxury real estate has been growing at an accelerated pace. This market has a relatively smaller niche audience that needs to be approached differently from the traditional Class A property. We dedicated this episode of the Digible Dudes to exploring a complete marketing strategy for the ultra-luxury real estate market with an expert from Digible who has done extensive research on the ultra-luxury real estate market in the last few months. RayAnn Ortiz, Senior Account Manager at Digible, joins us to share her wisdom.
The first step in creating a strategy for a new market is properly identifying and defining the market. We start the conversation with what defines an ultra-luxury property, how the ultra-luxury properties are different from Class A properties, and the attributes of ultra-luxury properties that stood out in RayAnn’s experience. Ultra-luxury properties are a unique market, and with that come unique challenges as well. RayAnn shares her wisdom on what measures marketers can take to overcome these challenges.
Budgeting is an extremely important part of any marketing strategy, and the ultra-luxury real estate market is no different. We dive deep into some of the considerations that help us create an effective budgeting strategy for ultra-luxury properties. We also dive into the role PR plays in marketing for ultra-luxury properties and native campaigns, a cost-effective PR strategy that could be utilized for this market.
Amongst other aspects, SEO strategy also needs some adjustments to match the conditions of the ultra-luxury real estate market. We explore some of the tactics marketers can use to maximize their visibility via search, the possibility of using influencer marketing and events for this type of property, and tactics for targeting the right audience on various marketing channels.
[06:49] Defining Ultra-luxury – We start the conversation with RayAnn highlighting the research she has been doing over the last few months and the attributes of properties that were identified in the research that defines an ultra-luxury property.
[10:50] Challenges – The unique challenges that come up with ultra-luxury properties in terms of competition and marketing.
[14:06] Budgeting – Things to consider when creating budgeting strategies for ultra-luxury properties and some uncommon ways to maximize the return on the marketing investment.
[20:48] Native Campaigns – Native campaigns are a cost-effective PR approach for properties. RayAnn dives into how this can be utilized for ultra-luxury properties.
[25:06] Search Engine Optimization – How the SEO approach for ultra-luxury properties should differ from traditional properties and some SEO best practices.
[33:49] Influencer Marketing – RayAnn shares her take on the feasibility of using influencer marketing to target the right audience for ultra-luxury properties.
[38:54] Events – The possibility of using events as a method of marketing for ultra-luxury properties and challenges associated with it.
[45:32] Retention – RayAnn shares with us some of the patterns she has seen in ultra-luxury properties in terms of customer retention.
[52:24] Targeting – Tips & tricks for targeting a niche audience for ultra-luxury properties on different channels and platforms.