September 5, 2012
Caruso Affiliated is leaning on video and event marketing to push its new Los Angeles property in an effort to sell the luxury lifestyle as much as the actual property.
Caruso’s 8500 Burton Way is a $60 million luxury apartment complex slated to open within the coming weeks. A video and a complimentary housewarming party help to portray the image of luxury that residents can expect.
“As with any brand, whether it’s a retailer or real estate, you can’t take a narrow view of marketing," said Paul Kurzawa, chief operating officer of Caruso Affiliated, Los Angeles.
“In particular with 8500, because we put so much time, work and effort into it, that we wanted to go to the lengths to put together this video,” he said.
8500 Burton Way will house 87 apartments ranging from 800 square feet to 4,000 square feet. Also, there is one 4,000-square-foot penthouse suite.
The interiors include high ceilings, panoramic views of the city and surrounding hills, contemporary natural-hued hardwood flooring and elegant bedroom, bathroom, kitchen and living areas.
There are also private patios and balconies with sliding glass doors. These views include those of downtown Los Angeles, the Hollywood Hills and the Pacific Ocean.
Rents start at $3,690 reaching to one penthouse suite at $35,000.
8500 Burton Way
There will also be a full-service Trader Joe’s and The Larder at Burton Way café restaurant on-property.
Residents will have access to a fitness center with personal trainers, 24-hour attendant and call center, concierge, on-site valet, room service and VIP valet access to The Grove and The Americana at Brand entertainment sites.
To exemplify the company’s customer service and experience, Caruso is encouraging the first 10 residents to throw housewarming parties for 10 friends.
The party will include flatware, dishes, glasses, décor and all food and drinks from a personal chef. There will also be a clean-up crew after the event and an on-hand concierge during the party.
Caruso is using the housewarming party incentive as a form of word-of-mouth marketing that it hopes will drive buzz around the property, per the company.
Other marketing includes the barracades around the building while it was being built, print marketing in the Los Angeles Times and L.A. Magazine and some digital marketing.
However, the video marketing is distinct to 8500 Burton Way.
"The video is unique to 8500,” Mr. Kurzawa said. “We’ve used it in the past with other projects, but in terms of finished products, this is the first time we’ve been using it as part of a toolkit.”
Event marketing is one of the best ways that Caruso can get the word out about the new property.
Since birds of a feather flock together, guests invited to the new property by way of the party could be interested in, and have the means of living in, 8500 Burton Way.
Providing excellent service and just the idea of the housewarming party, in general, gives consumers a preview of the experience that they can expect if they rent this property.
Also, the video given to consumers also helps to portray this image.
Other real estate marketers have been using varied means to push their properties to an affluent market.
For example, high-end real estate company One Thousand Ocean spent 25 percent of its advertising budget last year on print, claiming that the medium’s ability to display its property without overstating its beauty was important (see story).
Meanwhile, other companies including Corcoran, Sotheby’s and Elliman are using mobile applications to push high-end properties (see story).
Nonetheless, it is important that the marketing tactics do not sway from the brand image while marketing to a niche audience.
“A product can have a very high value proposition that lacks emotion,” Mr. Kurzawa said. “Living at 8500 Burton Way is going to be an experience from the people that we're hiring that will greet residents, to services that the concierge will offer is so much better than what the competition offers.
“In our company, one of the things that we’ve identified as a core value is that time is a luxury for people in our buildings,” he said. “Therefore, we are trying to put time back in our customer’s hands, which is a value you can’t find elsewhere in the marketplace.”
Rachel Lamb, associate reporter on Luxury Daily, New York