ConCep Case study
CLIent naMe:Cushman & Wakefield
tItLe:
new leads as a direct result of the work.
the campaign comprised two distinct phases and was designed to increase the amount of revenue Cushman & Wakefield generates from occupiers of real estate.
Current market conditions mean that most uK businesses are seeking ways to reduce costs associated with real estate and to generate revenue or release capital where appropriate. Cushman & Wakefield saw this as an ideal opportunity to strengthen its relationship with existing clients and to generate leads from unknown clients.
despite the limited budget - £30,000 - Cushman &
Wakefield’s uK occupier campaign operated across several channels, with a CRM-driven email campaign at its heart. Concep helped clean all data on existing clients, create a new fully-segmented database, develop personalised campaigns for specific markets, offer rich reporting and provide key customer intelligence. Concep’s work has been identified by Cushman & Wakefield as integral to the campaign’s success.
CUSHMAN & WAKEFIELD
•UK OCCUPIER CAMPAIGN
THE CLIENT COMPANY
Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm.
Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer-base ranging from small businesses
to Fortune 500 companies. It offers a complete range of services within four primary disciplines:
• Transaction Services, including tenant and landlord representation in office, industrial and retail real estate;
• Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing;
• Client Solutions, including integrated real estate strategies for large corporations and property owners; and
ObjECTIvE
In 2008, occupiers generated only 19% of turnover for Cushman & Wakefield. The remaining 81% came from investors and developers.
Cushman & Wakefield wished to significantly increase the revenue raised by occupiers of real estate and felt that – given current economic conditions – the market would be receptive to a campaign that helped businesses realise the opportunities for reducing costs and releasing value held within their property portfolio.
by its own estimation Cushman & Wakefield knew only 20% of the relevant UK businesses. The campaign’s main objective was to increase the number of known occupiers, build relationships with key individuals and generate revenue from these leads.
STRATEGY
Cushman & Wakefield broke the UK Occupiers Campaign into two stages.
Phase 1 was designed to generate new leads from clients who already had a
relationship with the business.
Phase 2 sought to nurture new leads from previously unknown businesses,
CUSHMAN & WAKEFIELD
•UK OCCUPIER CAMPAIGN
Concep segmented this database according to specific markets, namely: retail, business space and private equity.
Capitalising on the market’s desire to reduce costs and release revenue from expensive property portfolios, Cushman & Wakefield designed Top Ten Tips, which differed according to the specific needs of each sector. Using Concep Campaigner, personalised emails were sent to 1,071 named individuals within client companies. Harnessing Campaigner’s reporting tools, Cushman & Wakefield was able to monitor which of the top ten tips was most useful. Within 24 hours of the first emails being sent, the business was creating a profile for each client.
After week one, Cushman & Wakefield’s contact owners telephoned clients, tailoring conversations according to profiles. During this conversation, contacts were invited to one of a series of five seminars held throughout the UK in April.
The content of these seminars was directly influenced by the insights gathered from Concep’s reporting. Cushman & Wakefield could easily determine which topics were most important to its clients, and matched seminar content accordingly.
Phase 2, which shared the ultimate goal of seminar attendance, was a DM campaign. Cushman & Wakefield subscribed to Mint and Amadeus in order to target named individuals at companies with at least 500 employees and a turnover in excess of £40m. In total 3,789 businesses were identified.
Four postcards, introducing Cushman & Wakefield and its market expertise, were sent over a three-week period. These were followed by a personalised letter that came bundled with a sector-relevant Top Ten Tips brochure. This was followed by a telephone call to the named individual, and an invitation to one of the five seminars.
CUSHMAN & WAKEFIELD
•UK OCCUPIER CAMPAIGN
TARGET AUDIENCE
Occupiers of real estate, among Cushman & Wakefield’s existing client base and from unknown businesses with an annual turnover in excess of £40m and a staff of at least 500.
MEDIA
Multi-channel. Email marketing, direct marketing, telephone contact and seminars.
TIMESCALES
Work on creating the clean, centralised database began in january 2009. Phase 1 launched March 2009. Phase 2 began at the end of March. National seminars took place in April 2009 and marked the end of the campaign.
RESULTS
Cushman & Wakefield’s main objective was to increase revenue from this largely untapped group. Six weeks after campaign end, it has generated in excess of £1.5m worth of business from Phase 1, and £200,000 from Phase 2.
CLIent testIMonIaL
“Concep played a valuable role in this
campaign. Its reporting was crucial. Without their expertise we would not have been able to segment the database and mine results, which proved invaluable in generating incredibly useful levels of market intelligence we simply didn’t have prior to this campaign.
“Without Concep we would not have been able to report the successes we have enjoyed through this campaign.”
Nigel Pyke Partner
