How much does Noga Erez's "Wave" cost?

Real estate is also breaking records in advertising spending

Dramatic change not only in expenses but also in the way of advertising in the real estate field. In short: Azorim, Shikun VeBinui and Damari on the outside - Noga Erez, Idan Amadi and Yaakov Atrakchi on the inside. Little money, mostly for the contractor

David Wertheim

26/04/2022

Tuesday, 26 April 2022, 11:36 Updated: 11:47

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An examination of Yifat Advertising Control revealed that advertising of an image nature increased by 38% compared to 2020, at the expense of sales advertising

The decision to buy an apartment is in most cases the most important financial decision in our lives and like any crucial decision, emotion plays a major role in it.

Against the background of the real estate crisis characterized by accelerated, almost hysterical consumption of apartments - huge consumer products that will include their campaigns.

The volume of advertising in the real estate sector in 2021 amounted to NIS 127 million, according to Yifat Advertising Control.

Looking at the advertising mix of companies indicates a revolution in the nature of advertising.

In recent years we have become accustomed to sales campaigns of various types of real estate, the messages were usually expressed in the amount of the down payment, the opportunity to buy early, or alternatively the return and almost did not carry an image of the marketing entities

. Increased by 38% compared to 2020 at the expense of sales advertising.

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Damari's presenter.

Idan Amadi (Photo: screenshot, screenshot)

Buyers are willing to pay for values

"The data show that many construction companies have learned this year to understand that many buyers will sometimes agree to pay a higher price and purchase an apartment from a company that is positioned as having values ​​that suit buyers."

Many companies have invested huge capital in image advertising, with the main reason for this being the radical increase in housing prices in Israel over the past year, according to the CBS. An increase we have not seen here since 2010. And once there are such increases, the game turns from a competition for sales to a competition of prices. "It seems that in the past year construction companies have realized that positioning the company and investing in its image I have a clear sales record, as evidenced by sales data that have reached new highs in the past year, "says Manny Avrahami, CEO of Yifat Advertising Control.

He adds that "the data show that many construction companies this year have learned that many buyers will agree to pay a higher price and buy an apartment from a company that is positioned as having values ​​that suit buyers. This year we saw companies positioning themselves as strong with high reliability and of course environmental awareness. Sales in the last year. "

Company owner at Front.

Aura (Photo: Screenshot, Screenshot)

According to Avrahami, "The reasons why we are seeing a change in the trend of real estate companies in the past year, to focus on image advertising over my sales are mainly two.

The first is the appeal of many companies to focus and concentrate activities in the field of urban renewal in light of the shortage of land for construction in the state marketing.

"Second, many real estate companies intend to issue and make public or are interested in entering into partnerships with institutional entities and image advertising exposes them to these target audiences.

Either way, this is the good time for real estate companies as there is a great demand for apartments but the supply is low. According to the data the transition to investing in the brand is really cross-company. "Also, the choice of real estate companies in television campaigns has not been common over the years and the image moves have taken many companies in the past year to choose this medium."

Advertising data for the real estate industry in 2021 according to Yifat Advertising Control (Photo: Walla !, Walla system)

Avrahami is not alone.

"Advertising in the real estate industry is changing," note experts in the field. "The next thing" in the world of advertising is building the story for the project in parallel with the product design and not after it. The design and it produces a winning product. "

"Not every Audi model labels you as 'chic.'

exchange ramat gan (Photo: 3Division)

The story of Noga Erez

"Here too there are levels of products and there are premium products, like in the automotive world. A lot of people want to buy a car from an Audi company but not every Audi model labels you as 'chic'

Gil Gurevitz, Azorim's VP of marketing, refers to the project that the company is setting up in Ramat Gan and has created a strong brand.

In the past most of the big companies branded mainly under the super brand, but in recent years there has been a trend of creating independent brands mainly in special projects in worlds of luxury.

We understand and see in the field that belonging to a project that is a strong brand is very important to buyers: it also happens in clothes, cars and restaurants, and this trend also reaches the real estate world. Here too there are levels of products and there are premium products. Audi But not every Audi model labels you as 'chic'.

"In the Exchange ramat gan project we are setting up in the Elite complex near the stock exchange, the decision was to focus on branding the project as an independent brand supported by the Azorim house brand as the company was recognized as a residential neighborhood builder and less identified with luxury. Since this is a complex tower of 55 floors in the heart of an employment area.

One of the key moves in the ramat gan Exchange campaign was the selection of a presenter in the form of Israeli and international pop singer Noga Erez, just before her breakout, Gurevitch notes. "Noga brought an international vibe and also the use of the English language.

Its chic and style appeal directly to a young, kicking, contemporary audience, which is exactly the target audience targeted at the project, as the stock exchange complex is in an advanced process to transform from a sleepy business area that empties in the evening into a lively and attractive area. The ministry and Noga convey exactly that feeling of revolution. "

He said, "Of course, we also felt the success of the branding in sales - we jumped in prices from NIS 30,000 per square meter to NIS 50,000 per square meter in less than a year and a half, which is a much bigger jump than the market price increases. "He also attracts other projects that 'stick' to his success. However, the source will always draw most of the increase, and the audience knows how to identify and differentiate between the source and the imitation."

Noga Erez for Ramat Gan exchange (Photo: Tom Simon)

The brand capital of the local contractor

Yinon Sabag, VP of the Ambassador Group, which specializes in real estate consulting and marketing, says that "in the past year, we have seen more image campaigns by large companies in the real estate field, and this has been evident since Corona began , And increase sales rate.

As a company that markets projects to large companies, we were impressed by how the buyers were mainly looking for well-known companies such as Africa Israel, Shikun VeBinui Azorim and more.

These, for their part, recognized the audience's feelings and launched campaigns that strengthened the brand, sometimes at the expense of the product - on the one hand they provided the solution for buyers' confidence and on the other hand increased sales rate and price maximization on the assumption that a brand pays more.

"On the other hand, every city has the local contractor, with a good reputation and high execution capabilities, whose name goes before him without investing money in branding. This level of sales allows him to sell at a premium compared to competitors even without investing in branding campaigns because they bring something different - experience, Quality in workmanship and reliability, for example Makhlouf Bechor in Ashkelon, YD Barzani in Jerusalem, buildings and fangs in Bat Yam, etc. It can be said that over the years these companies have built themselves as a brand for everything, only in their market. And the stability, and yes, is willing to pay more as well. "

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Tags

• advertising

• urban renewal

• Ramat Gan