Novel Student Spain
Background
In April 2023, we took on two new residences for Novel in Spain, adding to the 10 that we managed for them in other territories. Investors were keen to see improved occupancy rates and a significant increase in leads.
Objectives
The primary goals set by the investors were to:
- Drive higher occupancy rates.
- Increase the number of qualified leads.
- Maintain a healthy cost per acquisition (CPA).
Approach
Understanding the unique needs of the market was integral to our strategy. We began by completing an in-depth analysis of the market, search trends and the intent of students.
Next, we engaged in conversations with sales agents who were actively on the ground, providing us with invaluable insights into the local market. Their firsthand knowledge of what students and parents look for in a residence helped to refine our messaging.
To guarantee our strategy was aligned with local preferences, we consulted local contacts and dug into our extensive bank of data. This collaboration allowed us to craft ads that not only spoke the language of our audience but also addressed their specific concerns and desires.
A key insight that emerged from our research was the importance of home comforts and safety in the decision-making process of Spanish students and their parents. We learned that parents, in particular, were deeply concerned about their children's well-being, prioritising location, safety, and catered meals. With this in mind, we tailored our advertising campaigns to emphasise these aspects, making it clear that Platina and Aller were safe, comfortable, and well-catered homes away from home.
Results
The results were outstanding. Despite taking on the residences later in the academic year, we saw a considerable increase in occupancy. Our ability to adapt quickly to the market's needs and deliver results was a testament to the thorough research and strategic planning that went into our partnership with Novel.