VCW for Bleisured: Attracting New Homeowners
Implementing targeted digital marketing and referral programs to expand Bleisured's homeowner network.
How can Bleisured effectively attract new homeowners to work with them?
This project utilizes the Value Creation Wheel (VCW) framework to address the challenge of attracting new homeowners to work with Bleisured, a property management company in Lisbon. The team developed two primary solutions: targeting Golden Visa communities online and implementing a referral program.
Overview: Bleisured, founded in 2022, faces the challenge of attracting new homeowners in a competitive Lisbon real estate market. The team applied the VCW, focusing on defining the problem, generating ideas, selecting criteria, narrowing down solutions, and implementing prototypes. The project resulted in two key strategies to enhance Bleisured's homeowner acquisition.
Phase 1: Discovering Value
Diagnostic: Analysis of Bleisured's operations, the Lisbon real estate market, and competitor landscape.
Frameworks: Porter's Five Forces, SWOT, TOWS, PESTEL, and 5Cs analysis were used.
Stakeholders: Employees, homeowners, real estate agents, future homeowners, and tenants were identified.
Challenge Definition: "How can Bleisured effectively attract new homeowners to work with them?"
KPIs: Website visitors, leads, conversions, cost per lead, market understanding, and KDM feedback.
Phase 2: Creating Value
Idea Generation: Qualitative interviews, brainstorming, and AI-assisted research were used to generate ideas.
Criteria Development: Cost, alignment, impact, scalability, feasibility, and risk management were considered.
Purification: The POKA method was used to refine ideas and criteria.
Phase 3: Assessing Value
Idea Selection: Key decision-makers selected ideas from categories like building awareness, engagement, digital presence, customer acquisition, and partnerships.
Criteria Selection: Criteria related to market analysis, compliance, cost-effectiveness, and engagement were chosen.
Criteria Ranking: Criteria were ranked by importance, focusing on direct targeting of homeowners and Lisbon market focus.
Phase 4: Narrowing Down and Creating Concepts
Value Creation Funnel: The funnel was used to evaluate ideas against key criteria.
Final Solutions:
Targeting Golden Visa communities online.
Developing a referral program for students and existing homeowners.
Concepts:
Golden Visa Strategy: Targeted digital marketing to engage Golden Visa investors, focusing on tailored property management solutions.
Referral Program: Incentivized referral programs for students and homeowners, leveraging personal networks.
Prototypes:
Golden Visa Investors Prototype: B2B partnerships with Golden Visa investment companies and B2C targeted advertising on social media and real estate platforms.
Referral Program Prototype: Partnerships with student organizations and existing homeowners, offering incentives for referrals.
Phase 5: Consolidating Value
Implementation: Launch of targeted digital marketing campaigns and referral programs.
Monitoring: Tracking KPIs related to referrals, Golden Visa investors, and customer lifetime value.
Optimization: Continuous improvement based on performance data.
Key Takeaways:
Targeted digital marketing is effective for reaching specific homeowner segments.
Referral programs leverage existing networks and build trust.
Blue Ocean strategies can create unique value propositions.
Data-driven decision-making is crucial for optimizing marketing efforts.
Partnerships and collaborations enhance reach and efficiency.
Conclusion:
By implementing these strategies, Bleisured can effectively attract new homeowners, expand its market presence, and enhance its reputation as a leading property management company in Lisbon.