An analysis conducted byMediaVisionofpropertybrandsearches across more than 200 residential, commercial and portal/online companies revealed a market predominantly down year on year with pockets of stellar performance from some.
Ofthetop 10brands withthehighest monthly search volume overall, only four saw a positive upliftinbranddemand YoY. Ofthetop 50 overall, more than half saw a declineinbranddemand overthelast year, whichindicates just how tough and diversethelandscape is right now.
Forbrandsinthefiercely competitive onlinepropertysector, anincrease or decreaseinbrandsearch can be attributed to several things:theeffectiveness ofthemarketing strategy, market-related factors,theeconomy, changing consumer habits ortheefforts of rivalbrands. Fortunately, positioning from a volume perspective and a robust marketing strategy can have a significant and direct impact onbranddemand.
Residentialbrandfrontrunner is Dexters with anincrease of 6% YoY.TheLondon agency chain beat out Savills, Knight Frank and Foxtons, who all saw a declineinbranddemand.
Dexters madethenews backin2016 by shedding 20 differentbrands and a holding business to become a single entity that now has over 70 branches across London.Thebrandhas since expanded even more by co-marketing homes acquiring and rebranding more businesses.
With aggressive growthinthemarket since launching and subsequent status as one ofthemost valuable start-upsintheworld, WeWork leadstheway this year with a 58%increaseinbranddemand.
Flexible office space has become a major disruptorinthereal estateindustry. With spaces offering co-working, shorter leases, stellar coffee and a greater sense of community for small teams and corporates, demand hasincreased aroundtheglobeinrecent years.
WeWork has tappedinto this growing trend by appealing to anindustrious audience that wants more from an office than just a desk space. Aside from its massive size – members are projected to hit 400,000 bytheend oftheyear –thebrandcaptures news attention with detailslikeamped up amenities,innovative networking events, beer taps, food bars and more – all tied together by a strong marketing strategy.
With anincreaseinbranddemand at 31% YoY,industry disruptor OnTheMarket has become a major competitor topropertyportals Zoopla and Rightmove, who both slipped fromthetop spots with a decreasingbranddemand.Thebig portals are still far aheadinterms of volume butthere is no doubting OnTheMarket’s trajectory.