Mapping market potential for Center Parcs Real Estate
As a company, when you are about to make investments, you do want to know whether those investments will pay off. Whether the product you are putting time and money into will be successful. In other words, is there a market for your product? Center Parcs Realty also had that question.
Challenge
The company has vacation parks in the Netherlands, Belgium, Germany & France. The accommodations at these parks are largely rented, but also sold. They wanted a clear picture to identify market and market potential in order to optimize and successfully develop the proposition. Center Parcs Vastgoed wanted to know what conditions they needed to meet to convince investors.
Vision
Gather feedback from your target audience
To gain insight within the region where Center Parcs Realty operates, an online survey was set up for four groups: The Netherlands, Flanders, Wallonia and Northern France. This gives a comprehensive picture of the entire market. The target group of potential real estate investors in the Netherlands may differ from potential investors in France. We asked these four groups through an online survey questions about the target group's familiarity with Center Parcs and Center Parcs Real Estate, their interest in investing in a vacation home and how large that investment would be.
Solution
Online fieldwork: knowing what your target audience wants
Thanks to this research, interesting insights emerged for Center Parcs Realty. They obtained accurate insights into:
- The number of potential investors
- Who are they and where are they located?
- What specific product is their interest in?
- What conditions must the product meet?
The added value of an Online Community combined with quantitative research
The first phase of market research consisted of lots of numbers. Valuable information that clearly identified the target market for Center Parcs Realty. Yet, in this case, a deeper research is of additional value.
By asking targeted questions to potential investors, Center Parcs Realty can make its product and communication much more responsive to the needs of its target audience. There is already a website and a brochure for potential buyers, but do they match the questions people have?
The Online Research Community helps Center Parcs Real Estate:
- Better understand the needs and conditions of specific investors
- To understand what motivations and barriers investors have
- Gather feedback around various investment opportunities
- Gain insight into whether the communication matches the customer's questions
Long-term research or short online community
When setting up an online community, you can opt for a long-term community or a short-term study. The latter was the case at Center Parcs Realty. In 2 weeks, additional questions could be asked of the target group to clarify the data from the first part of the research.
Result
Insights into your product through online community
By talking directly to your target audience you discover things you never thought about. Center Parcs Vastgoed's brochure contained an enormous amount of information, but it could be even clearer.
Center Parcs Vastgoed also discovered what facilities their accommodations should have to meet their customers' wish list. And as it turned out, the Dutch have different wishes from the French. Dutch people want beds made and in France they like to have a bakery at the park.
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