Better Homes and Garden Real Estate Case Study Solution
Launch of B2C Social Media Marketing Program
Better Homes and Garden Real Estate (BHGRE) the subsidiary of Realogy (leading real estate franchising company) is situated in North America. Currently,it is having a B2B operating style. However, B2C operating style will be more beneficial for them because Better Homes and Garden Real Estate has a well-known consumer brand name with 97% brand awareness. Along with this, approximately 7000 consumers visit their websites each month which shows the how much the consumers are interested in the company. After considering the above facts, we can conclude that Sherry Chris and her team should launch a B2C social media marketing program so that a specific consumer marketing program can be run.This will help BHGRE in increasing its consumer range and hence market share.
Objectives of the Program
The main objective of the program should be to increase the market share of the company. As we see from the case that there are 4 main players in the market who have 25% of market share. BHGRE should try to increase its market share and hence become the leader of the market. To achieve the main objective supporting ideas should also be considered. The main supporting objectives may be the satisfaction of the customers, the reliability and effectiveness of data provided to customers and etc.
Measurement of the Objectives
BHGRE can measure the above objectives by analyzing the following:
- The growth in the number of consumers visiting thenew
- The growth in the profitability ROI on social media and other key ratios.
- Increase in the number of agents.
- The requirement of new offices and staff to fulfill the desired needs of the consumers.
Success of BHGRE B2B Social Media Program
To make the B2B social media program successful BHGRE adopt a good marketing strategy. It considered the market innovations and utilized them effectively. In 2007, Facebook and Twitter were emerging sources for marketing because of having a large number of members. BHGRE used these websites effectively for the initial advertisement of its social media program and then on the final launching date it launched a separate website which attracted a large number of consumers. Along with this it also used magazines to advertise its B2B program. Moreover,it conducted meet up programs, in these programs,it met with young real estate agents and educated them about how to market their businesses better using social media.
BHGRE should show more effectiveness in launching B2C social media program because it can get a lesson from its previous B2B program about the inefficiencies present in the program. Although the two programs are all different but both are related to the same niche, therefore, the lesson can be extracted from the previous experiment. Chris and her team can get the following lessons from the previous B2B program:
The success of the B2B program is due to using the anticipated methods of marketing (Facebook and twitter).So to launch B2C social media program BHGRE should consider the current methods of marketing.
In the B2B program, the company incorporates the needs of targeted audience (agents) in its advertisement.Hence company should keep this strategy and incorporate consumer’s needs in its B2C program as well.
B2C Social Media Program
To accomplish B2C social media program, BHGRE should consider the emerging methods of marketing in the last decade (Facebook and Twitter)as it is for a successful advertisement. However, in current time people are attracted more towards visualization, therefore, BHGRE should consider the use of videos (YouTube) for effective advertising.Along with this,it should also consider other emerging websites like Pinterest. Furthermore, to attract consumers it should consider incorporating their needs in the advertisement. Moreover, to make B2C social media program successful, the company should launch a separate website because both programs (B2B and B2C) have different audiences and hence have different objectives.If there is only one website or page which deals with both audiences, then this may cause the failure of the B2C program and will also cause negative impact on B2B program. Furthermore,the company intends to use the current staff in theB2C program although ithas expertise in theB2B program but B2C program is a different program and hence needs an appropriate experience. Along with this, the laws and clauses are different in the B2C program. Therefore, BHGRE should use a separate team in launching B2C program. Along with above benefits, a new team will have fresh minds and hence new ideas................
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