Investorist spoke to Joe McCormack, Partner in Crowngate International, to find out how they achieved success marketing projects in China. Crowngate International are a leading International Real Estate Development Company specialising in high performing and secure UK and global investments.
What project did you promote at Investorist’s China Connection?
Wimbledon Reach in London, 54 luxury one, two and three bedroom residential apartments and penthouses, with direct tube access to London city, South Bank and West End.
What was the main challenge you were experiencing?
Establishing greater global brand awareness and brand recognition for Crowngate International when compared with other much larger UK & UAE Developers with an already established and credible name in the market. Another challenge was educating the Chinese market about current UK property prices, the benefits of owning UK property, legal requirements.
Were there any marketing activities you had tried previously which were not successful, and if so what were they?
We tried various digital SEO, Google AdWords, social media and banner campaigns with mixed rates of success in terms of this leading to sales conversion.
What was your main reason for attending China Connection?
China has an increasingly wealthy market with 1.4 billion people. Gaining access to the China market, both to increase our Chinese agent network and to start introducing our projects and investments to Chinese clients. Also introducing the Crowngate International brand to Asia was very important for us.
How much did you previously know about China and marketing your project to Chinese agents?
Very little was known about the Chinese marketplace for selling property, and how to go about accessing Chinese buyers.
What were the key learnings for your team from attending the event?
Chinese agents and clients do business in very different ways than clients in say the UAE & UK.
For Chinese agents and clients, they always have many, many questions. Agents really like to delve deep into an investment opportunity and do their full due diligence before making any decision. It’s certainly not a fast process to secure investment.
How was your project received by Chinese agents, and were they well briefed before meeting with you?
Our Wimbledon Reach project was enthusiastically received by the Chinese agents, and the purchase process was also well understand. Agents were also thoroughly briefed before the event, so that those specifically interested in our offering were the ones we met in person with.
What was the best feature of China Connection?
Definitely to gain access to Investorist’s very large Chinese agent network and to allow personal interaction between us as a Developer and many Chinese agents all in one location. We were able to establish some immediate credibility in the local Chinese market through partnering with Investorist.
How many Chinese agent relationships have been developed as a result of attending China Connection?
Approximately 20 agents, and from those we selected the ones we wanted to stay in touch with.
Any additional thoughts?
In the wake of Brexit, we received so much positive feedback from investors about ‘why UK’; the main being that Chinese investors are getting nearly 25% discount on buying the pound so there really has never been a better time to buy UK real estate.
The number and quality of individual agents and broker companies we’ve met through Investorist events and signed up as personal agents for our own property and investment networks has been incredible.
Investorist have provided us with a platform to not only market and promote our UK & Middle East developments but also generate sales at the events for global clients. We regularly recommend the Investorist events to our own agent network, particularly those in Asia and have received similar high praise from them also.
Joe McCormack | Partner, CrownGate International, UK
To take your projects to China, find out more about our next China Connection event.