For retailers, restaurants and other multi-location businesses, keeping track of and accounting for sometimes hundreds or thousands of leases can be a headache. Virtual Premise (now part of the CoStar Group) offers a SaaS solution that provides an easy way to manage and report on leases and other real estate information.
For one of its largest verticals – retailers – Virtual Premise was launching a new program called Impact that offered a suite of cost-saving tools to help prospects find additional ways to leverage their real estate portfolios for strategic advantage.
Planning to launch at the National Retail Federation’s (NRF) annual Big Show in New York City, Virtual Premise turned to Arketi Group for help in generating attention around the launch.
HOW WE DID IT
The timing for the campaign was tight. To determine Virtual Premise’s market positioning, we started by interviewing customers to understand their purchase decision-making process. We also reviewed Virtual Premise’s top competitors’ positioning as shown on their websites. From this we learned that no competitor currently offered a comparable cost-saving program.
Our next step was to brainstorm a direct mail campaign that would generate attention and cause people to read the offer. Out of the many ideas, Virtual Premise chose an Indiana Jones theme. In the Search for Value campaign, prospects were enticed to enter a giveaway for a new high-end GPS system that was hidden – virtually – somewhere in the world. On the last day of NRF, would award the GPS system to the winning entry that correctly identified the secret location of the GPS unit: the lost city of Petra, which was the location of the Holy Grail in the movie Indiana Jones and the Last Crusade.
The campaign ran as a six-week, multi-touch, multi-channel promotion that included traditional direct mail (poster and postcard mailings), emails, personalized URLs, event marketing and traditional contest marketing.
THE RESULTS WE ACHIEVED
Results of the campaign beat expectations, generating more than half a million dollars in sales pipeline opportunities. Participation was more than three times typical response rates for direct mail..
Based on this success, Virtual Premise re-ran the Search for Value campaign to a second market segment to promote a cost-savings program. This time they achieved a participation rate of 16% .
In addition to these business results, the campaign won industry awards including a Technology Marketing Excellence Award from the Technology Association of Georgia and a Phoenix Award from the Public Relations Society of America.
“We are very pleased. It shows a real dedication both by Virtual Premise leadership and by our sales team to work as a collaborative effort with our marketing agency, the Arketi Group, to build our awareness and drive leads specifically for the retail vertical.”
Debora Tucker, Director of Marketing, Virtual Premise