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Business challenge
The Stockland Retirement focus on lead acquisition had delivered a rich prospect database of 14,000 across 24 villages, however the product available didn’t always match demand. Some villages had ten year waiting lists while others had 10% vacancy.
Evergreen was briefed to develop a campaign that was reactivation and conversion focussed. The strategy was threefold:
In retirement living, it’s paramount to use segmentation based on the prospect’s marital status, past enquiry and importantly, the trigger points to consider retirement living. Research indicated there are 5 key motives – security, maintenance, lifestyle, family or health.
We also knew what lifestyle segments they belonged to, as Stockland Retirement segment prospects psychographically, as well as demographically. The two key categories were:
Active and engaged – new to retirement, lead active and socially involved lifestyles. A common trigger is ‘more me time’ and the process more reward focussed motive
Winding down – retired longer, less physically able, less social, may have lost a spouse. A common trigger is isolation being a problem removal motive.
Strategy
The overall campaign proposition was ‘Live a happier life when you move into a Stockland Retirement village’. At Stockland Retirement, the community environment and facilities encourage social interaction, residents enjoy independence, security, home maintenance and support and residents are in their own home but surrounded by like-minded people.
The strategy was to comprehensively segment the database and deliver a fully personalised solution that matched appropriate offers/products by geography, life stage and purchase triggers. This strategy included the use of specific words and images, by segment.
Execution
The campaign launched in February 2011 with a highly customised mailout of 5,411 units across 80 types, containing 24 different village/event cards, custom packed.
There were two data segments within the prospect list for the mailers:
The mailers were also highly customised creatively:
Results
At June 2011:
Total campaign cost $62K
Average house sale $350K*
Cost per unit $11.40
Cost per sale $56
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