Transforming Real Estate Into Destinations

$10,000 DESIGNER HOME MAKEOVER

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 2014 U.S. Maxi Gold Winner

Client: Wharton Realty Group + Vero Beach Outlets
Title: $10,000 Designer Home Makeover
Category: NOI Enhancement
Award: 2017 U.S. Maxi Silver Winner

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Challenge:

Following an ownership change at Vero Beach Outlets, leasing efforts resulted in a new deal to expand Restoration Hardware Outlet. The 15,000+ SF store would expand to 30,000+ SF. Recognizing that the lease was a percentage rent deal, coupled by the need for the center to build back its VIP Club with email data lost during its recent sale to new ownership, there was a need to create excitement around the changes at the center and to drive traffic and sales specifically to Restoration Hardware.

Strategy+Style tackled each challenge with a behaviorally and geographically-targeted program, namely its $10,000 Designer Home Makeover.


Approach:

Strategy+Style worked with Wharton Realty Group to invest marketing funds in a “$10,000 Designer Home Makeover” six-week, online contest to award a single grand prize winner with:

  • $10,000 in Restoration Hardware Outlet home furnishing merchandise
  • A home assessment visit performed by Spectrum Interior Design, an awarding-winning, Vero Beach-based interior design firm
  • The services of the interior design firm to help design, install and stage the winner’s home

Tactics:

  • Developed a marketing partnership with Spectrum Interior Design to include advertising, on-site visibility, media outreach, interactive promotion and social media support
  • Developed an expanded behaviorally and geographically targeted marketing program which included:  
    • Regional digital advertising:
      • Desktop and tablet banner ads
      • Mobile banner ads 
      • Facebook ad campaign geo-targeted to the West Palm Beach DMA  
    • A series of behaviorally targeted eblasts including:
      • Vero Beach Outlets’ existing VIP Shopper database comprised of 4,500 names
      • Spectrum Interior Design’s client database totaling 500 individuals
      • A 750-member database of Florida-based members of the American Society of Interior Designers (ASID)
      • A nearly 20,000-name real estate and home improvement professionals database including realtors, architects, home builders and interior decorators
      • A more than 56,000-name behaviorally-targeted shopper database via BMI
  • Featured a contest “pop-up” on Vero Beach Outlets’ website homepage to foster data capture
 
 

Results:


Targeting:

  • Delivered: 21,250 blast emails to home furnishings-centric users alone
  • Delivered 1,101,254 mobile impressions to the geo-fenced audience
  • Generated more than 2,400 contest entries over the six-week entry period 
  • VIP Shopper Club membership rose a dramatic 358% from 4,500 to 20,610 individuals by year’s end

Expense to Sales ROI:

  • $29,558 budget generated a $334,247 sales increase for Restoration Hardware Outlet in the month of March compared to the previous year –  a 1,030% return
  • $15,000 (ownership-approved marketing up-spend budget) resulted in a month over month increase in sales of +87.7% across the center

Contribution to NOI:

  •  For the full year 2016, Restoration Hardware Outlet-specific marketing efforts led to the center’s now former ownership entity enjoying a significant return upon exiting the asset
 
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