In December 2022, the Bank of England raised interest rates to 3.5% – the highest level in 14 years. This accompanied with the cost-of-living crisis and has directly impacted UK house prices, which fell by 2.3% in November from October – the most since the start of the financial crash in 2008. Therefore, it is increasingly likely that this turbulence will continue in to 2023 and a more challenging landscape will emerge for firms operating in the sector.
It is crucial for companies in the industry to act now to protect against the turbulent times ahead. One of the strongest tools in any organisation’s arsenal is a powerful property PR campaign, which can deliver real impact on stakeholder trust in a company and therefore its bottom line.
The property and construction sector in the UK is extremely broad and encompasses everything from commercial and residential property through to development and construction companies, planning consultancies, architects and even quantity surveyors. With so many verticals competing for column inches it can be difficult to stand out and cut through the noise and this is where an effective PR campaign can help.
Reaching the right audiences
While once upon a time, businesses wanted to see their name in purely national, broadsheet and broadcast news outlets, many organisations are looking at increasingly targeted campaigns that deliver key messages directly to specific audience groups.
A rapidly scaling Proptech business may need to amplify its profile to an audience of Venture Capitalists and Angel Investors, whereas a regional property developer will need to target its messaging towards potential homebuyers from several specific geographies. There are various media verticals that cater for these disparate groups so developing relationships with the right media is crucial for any successful property PR campaign. However, as your campaign evolves, you will likely want to target media with different specialisms and audiences. This is where a breadth of media knowledge and contacts is crucial.
Strong media relations can clearly assist any proactive PR activity, but they can also help to mitigate any risk should a crisis communications situation arise.
What should a property PR campaign include?
While each property PR campaign should be entirely bespoke depending on the organisation’s priorities and requirements, below we have included a snapshot of some of the tactics firms should consider employing.
Shining a light on the people behind the business, from their inspirational stories to their views on key industry issues is a critical piece of the PR puzzle. Establishing strong leadership through your external communications is vital when it comes to establishing trust and authority with various audience groups.
The famous phrase ‘A picture is worth a thousand words’ is never truer than in such a visual sector. Engaging media with real examples of the fantastic work clients in the property and construction sector are delivering is an effective tool for securing media cut-through.
Thought leadership and establishing authority:
It’s important as an organisation that you stand for something, and that you’re absolutely clear what that something is. We work with our clients to develop a laser focus on the issues which matter to them. This means we can lead the conversation on their behalf with headline-grabbing, long form content which delivers the right message, to the right people.
The turbulent nature of the property market in recent times has meant that there has been increasing volumes of sector-related stories in the press. Responding quickly to relevant breaking news stories with comments/quotes that add value to the story enables clients to position themselves as key commentators in the media on the issues that matter and can be a highly effective tactic to secure top tier press coverage.
As many marketing campaigns in the property sector are more traditional, creative thinking can be a huge asset in helping a client to stand out. Combining engaging creative with solid media contacts can help ensure your company stays front of mind of your key stakeholders. This extends to delivering stunts and events; creating an emotive and visual media moment can be a powerful part of any campaign plan.
At PHA, we have an expert team of PR, Social Media & Digital Marketing experts with a wealth of experience across the property sector.
If you would like to discuss how a Property PR campaign could impact your business get in touch today.