INITIAL MARKET POSITION
A RENOVATION IN NEED OF A BRAND
At the beginning of this project there was a building that needed complete restoration, and we were brought in to work with architects and investors to brand the building, creating online properties, and marketing the building to sell the eight available condos, four retail spaces, and single office space.
The building, formerly known as the old Montgomery Ward building, had fallen on dark times over the span of 50 years. Our task was to build a brand that would represent the history and heritage of the property, while highlighting the beauty of a newly renovated property.
DEFINING THE ISSUES
A BUILDING WITH DISTINCT CHARACTER
There were four key stakeholders and investors that brought the building back to life. We had to balance working with four distinct personalities, a shell of a building, historical significance, and the next stage of life. The building had to be marketable, and so did the brand.
- One of the issues with marketing the building was the lack of finished space. There was no signage, no interior photos, and at times, hardly an opportunity for external photos. The whole concept behind selling the spaces prior to completion was to minimize the investors’ capital injection early on, while maximizing the customization of the interior for the future owners.
- We also had to make an unfinished building appealing to a specific target market.
- Even so, our time frame we had to build out the branding material, video, website, and other graphic assets was under two months.
DEFINING THE GOALS
WHAT NEEDED TO BE ACCOMPLISHED
- Brand a building to reflect both a rich history and a promising future.
- Market an unfinished product to a target-specific audience.
- Host an open house to help create new selling opportunities.
- Use digital content to promote building events and project goings on.
THE EXECUTION MARKETING
AN UNFINISHED PRODUCT
We hosted an open house, and were tasked with making an unfinished building appealing to their target market. Unfinished condos started at $225,000 and went up to $385,000.
The goal was to get as many people to attend the open house as possible, and ultimately create selling opportunities through the network of open house attendees. The data gathered from those attendees would be used to create additional selling opportunities in the future.
Starting March 18th, over a two-day period we drove over 700 people to the empty building for an interactive sales experience.
THE EXECUTION, CONTINUED
We marketed the project mostly through digital content and distribution. We distributed content through targeted Facebook campaigns and Google advertising. We leveraged local digital media outlets including Sheridan Upcycle and Sheridan Brand, which are two influential channels i n the Sheridan market.
END RESULTS & CURRENT POSITION
SIGNIFYING A NEW ERA
The investors initially planned on keeping four units off the market to keep for themselves. However, using our branding, video assets, and digital strategies to drive traffic to the open house, and creating opportunities for highly qualified follow ups, the investment group sold all available properties in under 75 days.
This produced between 2.7 million and 2.8 million dollars in sales, using the brand we developed and marketing campaign we deployed.
When finished, the Montgomery will set the standard for upscale, downtown living in Northern Wyoming.