I was doing some research recently on search trends in the Phoenix market and found that “Phoenix new homes” had a search volume of 33,000. “Phoenix foreclosures” had a search volume of 201,000. As home builders, are we missing out on a tremendous segment of potential homebuyers?
Home shoppers often think of “foreclosure” as being a better value without knowing about the pros and cons of a new home versus a foreclosure. Our sales teams are trained to address new homes or foreclosures in their sales office presentation, but many buyers are doing their research and decision making online without ever visiting a sales office. We have to get out in front of foreclosure shoppers where they are: online.
Creating a home builder internet marketing campaign that captures foreclosure buyers can compliment an existing new home marketing strategy to bring new leads into the sales funnel.
The first step is to create campaign around the foreclosure related keywords homebuyers are using in your market. A free and easy keyword tool such as this one by Google can get you started.
Once you have a list of foreclosure related keywords, here are 10 simple, low cost, guerilla marketing strategies that every home builder can use to capture more of the foreclosure market. (We are using Phoenix as an example but this can be completed in any market.)
1. Testimonial Video
Do you have recent homebuyer who was considering purchasing a foreclosure but bought a new home at your community instead? Create a short video interview with them explaining why they decided to purchase new. Using home builder video marketing for peer reviews and testimonials is more powerful than marketing messages alone. Optimize the video for search by using foreclosure related keywords in the title, description, and tags. Example: “Why Buyers Are Choosing New Homes Over Phoenix Foreclosures.”
2. Flood the Search Engines With Online PR
One of the fastest and most immediate ways to capture foreclosure search traffic is to redirect the conversation with straight-to-consumer home builder online PR that promotes new homes over foreclosures. Use high volume foreclosure related keywords to create a series of press releases to capture buyers who are searching for foreclosures online. A sample headline might be “Homebuyers Seek New Homes as Phoenix Foreclosure Alternative.” The online press release should include several links back to your home builder website to increase traffic and leads.
3. Focus On Broker Participation
What advantages can you offer the broker community if they direct their clients to your community instead of a foreclosure? This might include a faster and easier sale, higher broker participation percentage, extended warranty, closing cost concessions for buyers, and more. Brokers and real estate agents are the people most likely to have the ear of new homebuyers when it comes to selecting a new home over a foreclosure. Ask your broker community for feedback about why buyers are choosing foreclosures over your homes – homebuyers will tell brokers things they will never tell you.
4. Create Craigslist Headlines That Attract Foreclosure Buyers
In addition to search engines, homebuyers will look on Craigslist and other listing sites to find foreclosures. Posting an ad on Craigslist with a headline that focuses on your new homes will be overlooked by foreclosure buyers – they are skimming in order to find foreclosures specifically. Use a headline that captures their attention, such as “Thinking of Buying a Phoenix Foreclosure? 10 Reasons to Consider a New Home Instead.” Headlines that include keywords can also appear in search engines, increasing your home builder SEO and ability to reach homebuyers who may not find you otherwise.
5. Pay Per Click
If you already have a home builder pay per click budget that you are using to drive traffic and leads, set up a separate campaign specifically using foreclosure related keywords. Expanding your pay per click campaign (whether you are using Google, Yahoo, Bing, Facebook, or all of the above) can drive new leads into your sales funnel without diluting your other campaigns.
6. Content Marketing
The most important weapon home builders have when competing against foreclosures is information, and a home builder content marketing plan is a powerful online sales tool. Begin by creating an article section on your website, or include information about new homes versus foreclosures in your home builder blog. The goal of your content marketing is to educate buyers as a trusted advisor, giving them the information they need to feel confident in their buying decision. Include keywords that homebuyers looking for foreclosures would type into a search engine to direct more foreclosure home shoppers away from the search engines and to your home builder website (the top of the sales funnel).
7. Create a Separate Mini-Website
Many home builders are leery about creating a strong foreclosure education campaign because they are concerned about their product being aligned with the foreclosure market. Maximize search by creating a home builder mini-site with a separate URL that includes a high volume foreclosure related search term. In the case of the Phoenix market our keyword phrase would be “phoenix foreclosures,” so our URL might be www.thetruthaboutphoenixforeclosures.com. It’s a long URL, but remember it is a campaign site designed to capture search traffic. You won’t be printing the URL on all of your marketing pieces. Make sure that you disclose who is sponsoring the site (you) and the specific action you are asking homebuyers to take (download your brochure, visit your website, online chat with a sales rep, etc).
8. Set Up a Facebook Community Page to Educate
In addition to Facebook as a home builder social media platform, Facebook is also a powerful tool to increase exposure in SERPs. It can be used for far more than just your company page or new home community page. You can create a topic-based page that addresses the questions of homebuyers who are considering foreclosures. This is a valuable tool because most buyers will decide whether or not to consider new homes based on online research, and a Facebook page enables your sales team to interact with buyer questions directly online.
9. Email Your Database
Do you want to know which leads and prospects in your database are considering foreclosures in their buying decision? Find out fast with an email campaign to your existing database. Create an email campaign with a subject header such as “Considering a Foreclosure?” and a comparison chart or other information. Your emails stats will immediately identify the people in your database who are considering foreclosures by giving you a list of everyone who opened that email. This gives your sales team the information they need to create a specific follow up script to move those buyers to a sales office visit.
10. Partner With Your Lenders and Brokers for Email Lists
New homes often offer a faster, easier, and more seamless transaction for brokers and mortgage professionals. Reach out to your best brokers and other partners and ask to send your email to their database as well as your own. Their lists are valuable because buyers are often further along the qualifying process. This can create a shorter period of time to your next sale.
Of course, none of these tactics will work without a specific strategy for positioning your new home community as a viable option to foreclosures. Before you begin your campaign, make sure all levels of your home builder team (management, sales, marketing) are educated and trained to communicate your unique selling position against foreclosures. This may be price, incentives, quick move-in, warranty, location, percentage of other foreclosures in the community, or other factors (very often a combination of several). The guerilla tactics listed above will help you drive leads, and a clear strategy and a well trained sales team will convert these leads to sales.
