Bresette + Company - creative marketing solutions

OVERVIEW

For the Nantucket Association of Real Estate Brokers we created a new business/ marketing model. The program was developed and launched in a 3-month time frame beginning in June of 2002

THE PROBLEM
NAREB was spending a high six figure budget to advertise in the local newspaper. Bresette recognized the following problems:

Limited circulation.
Poor quality black and white newsprint
No Association control over publication (price and content)
No web presence
No brand identity or brand awareness
No lead generation

THE SOLUTION
Bresette works with NAREB to develop the Nantucket Island Living - Your Guide to Real Estate business model which included a 3 year strategic plan. This program included the following:

Creating a new high quality monthly magazine to showcase homes, land and rentals, as well as incorporating feature editorial (10 issues a year).
Developing a compatible database driven web and interactive initiative which supports the publication.
A "Business Model Template" for all 33 Real Estate Offices detailing Operational Systems and Procedures for the execution of the publication.
Establishing a 1-800 number and e-mail address utilized for free one-year subscriptions to the publication.
A Distribution Model which spans across the country and includes distribution (publication insertion) in newspapers serving high net worth demographics such as The Greenwich Times. The Model also includes placement in the Delta, US Airways and Continental Shuttle Terminals.
A Lead Generation Program which also includes placing advertisements in these high net work newspapers with a "call to action" for the 1-800 number and e-mail address.
An on-going Direct Mail Campaign (mailing the publication to an expanding database on a monthly basis).
A Sales Program targeting non-endemic advertisers (not Real Estate Offices but Real Estate Related Services such as Architects, etc).
On-going financial and management consulting services from Bresette + Company.

THE RESULTS

Grown the original database supplied by NAREB over 15% in YEAR 1.
98.7% of new leads have all contact information.
Based on expenditures each lead costs NAREB $550.14 / on an average homesale of 1.8 million.
One member sold 7 homes from the publication in the first 4 months.
24/hour, 7 day/week real estate office (establishing contact with brokers, property, and island community via the Web).
NAREB has changed their poor perception within the Community with the free "Community Spotlight" article donated each issue to a charitable organization.
NAREB has a distinctive brand identity.
Greater reach to Association's target audience with distribution in newspapers serving high net worth demographics.
"Qualified" leads generated by the 800 number and e-mail address.
Frequency of interaction with potential home buyers has increased dramatically with on-going monthly direct mail campaign of publication.
NAREB maintains control over publication.
Added value of magazine vs. newsprint.
Over $100,000 of "Outside Ad" Sales in the first two months of Year 2 which will expand the distribution for the Association considerably.
All 33 Real Estate Offices support the business model and view it as a success.
NAREB went from $600 million in total sales volume to over $1 billion for 2 years in a row. Furthermore, the average home sale went from $1.7 million to $2.3 million. The program continues to be a phenomenal success story.