Case Study:
Westminster Canterbury Richmond
RESEARCH, PLANNING, AND MARKETING:
A Formula for Exceeding Pre-Sale Goals Ahead of Schedule
THE SITUATION
Westminster Canterbury Richmond (WCR) needed more than the typical start-up marketing to bring its new Vibrancy! expansion to life. This award-winning Life Plan Community turned to Love & Company to help identify the need, plan the expansion from soup to nuts, and get the right message to the right people.
SERVICE:
Market Research, Planning, Sales Training & Coaching, Marketing
WEBSITE:
LOCATION:
Richmond, VA
THE STRATEGY
Vibrancy! was conceived to take fitness and wellness amenities to a whole new level with a state-of-the-art Vital Living Center, ultramodern swimming pool, and much more. Love & Company initiated a three-pronged plan for market success:
- Conduct extensive research studies to confirm the need for an expansion, and to shape the expansion as it developed
- Launch an integrated sales, marketing and lead-generation campaign, including training for the WCR sales team
- Adapt marketing and sales strategies—including the implementation of virtual technologies—through the summer of 2020, when the COVID-19 pandemic was at its height
The sales team achieved its 70% pre-sale goal in February 2022—six months ahead of schedule. By the end of March 2022, 87% of all residences were reserved.
The Results
By late August 2021, when it was ready to receive 10% deposits, WCR had amassed 287 net priority deposits—nearly three times as many deposits as planned residences. The sales team subsequently achieved 61 10% deposits in just over two months. Response to Vibrancy! was so strong, WCR decided to add 20 additional residences to the project.
What’s more, the sales team achieved its 70% pre-sale goal in February 2022—six months ahead of schedule. By the end of March 2022, 87% of all residences were reserved. Best of all, these results were achieved while spending about 53% of the original marketing budget.
If you have any questions on this case study or how Love & Company can help your organization position your community for success, reach out to Tim Bracken today: 410-207-0013, or tbracken@loveandcompany.com.