In our previous article, we discussed the Detailed marketing strategy of Apar, a highly trusted manufacturer company across the globe. In this blog, we are going to elaborate on the marketing strategy of Lennar, one of the nation’s largest builders of quality homes.
The objective is to gather interesting information about Lennar and know how it became one of the largest real estate managers and what marketing strategy helped Brookfield to become the management services for all major real estate assets.
So, we all know that there is an inevitable surge in the use of digital technologies, and marketing has been the most important way of promoting businesses and surviving this digital transformation.
So if you are passionate about marketing or you want to know why marketing is so hyped up then do check out our Free Masterclass on Digital Marketing by the CEO and founder of IIDE, Karan Shah.
By the end of this blog, you will gain enough information about Lennar to be able to understand its marketing strategy. Before understanding what worked for Lennar, let’s know the company’s story and target audience.
About Lennar – Company Overview
Source – www.pfgtoday.com
In 1954, Gene Fisher and Arnold Rosen formed F & R Builders in Miami, Florida. Then in 1956, Leonard Miller became the co-owner of F&R Builders and partnered with Arnold Rosen. Then in 1971, both of them combined their names to rename the company Lennar.
And that same year Lennar Corporation became a public company. Lennar builds new homes for people based on their lifestyles. Their commitment to Quality, Value, and Integrity guides them to be one of the best home builders around the world.
After years of hustling, in 2011, Lennar introduced Lennar Multifamily Communities (LMC), and then it introduced Lennar International, a U.S real estate leader in the global market. Lennar builds in 19 states and more than 44 markets across the nation.
Lennar builds something for everyone based on the people’s lifestyles such as Single family homes, towns and condominiums, homes for active adults, and also for next-gen multigenerational living.
They add additional features to the homes that they make such as smart home technology, energy-conscious features, modern interiors, and exteriors. They make everything simple for their buyers, they help them with the entire process from financing, to selling their current homes.
The earning results of Lennar Corporation for the second quarter and six months ended May 31, 2022.
For its second quarter, the sales reported by the company were USD 180.55 million compared to USD 183.46 million a year ago. Its revenue was USD 8,358.7 million compared to USD 6,430.25 million a year ago.
The Net income of the company was USD 1,320.76 million compared to USD 831.36 million a year ago. The basic earnings per share from continuing the operations was USD 4.5 compared to USD 2.66 a year ago.
The Diluted earnings per share from continuing operations was USD 4.49 compared to USD 2.65 a year ago.
Quick stats –
|Jonathan M. Jaffe
|18 states across the United States
|Real Estate Home Construction
|2,713 crores USD
|To maximize the quality and to deliver greater value.
|The Home of Everything’s Included
Marketing Strategy Of Lennar
Let’s look deeper into Lennar’s marketing strategy! And know how Lennar does its marketing campaign etc. Let’s begin with its STP Analysis.
Segmentation, Targeting, and Positioning
Home buyers want different products. So Lennar builds homes that cater to a variety of lifestyles. These varieties include Single-family homes that are designed for busy families, Townhomes and Condominium designs for low-maintenance living.
Active Adult designs for homebuyers aged 55 and better to ensure low-maintenance living that caters to their adaptable lifestyles that are set in rich communities designed for social engagement lastly The Next Gen homes are created with multigenerational living in mind.
To acquire target customers, Lennar has proposed Everything’s Included Homes as its marketing strategy. They provide features like Smart home technology, Energy-conscious features, and Modern interiors and exteriors.
Lennar ensures that the home-buying experience for its customers is as simple as it can be. Moreover, Lennar frees its customers from any hassle and helps them to navigate the entire process through closing.
Lennar always strived to be better. They worked to deliver greater value at lower costs. They made everything simpler for their customers beyond the home building.
Today, through organic and inorganic growth, Lennar has expanded to become the nation’s fourth-largest homebuilder operating in 17 states across the United States.
To increase calls and visits to the sales centres, Lennar changed the old price-driven approach to a heartwarming multi-channel Integrated campaign to draw the audience’s attention.
Its components included online banners, radio, email, and newspaper inserts. For the creative, they used softer emotion-driver messaging to draw the audience in. For example:
” We know you don’t always get to
choose what life throws at you –
a grandparent moving in, the arrival of a new baby, an empty nest is full again…..But when you build your foundation on the strength of Lennar,
you can enjoy all the little moments and still be ready for the big ones.”
Houses become homes when inhabitants make a lot of memories while living together. And Lennar clearly understands that, so it made sure to connect on an emotional level with its buyers by creating a marketing campaign that appeals to the customers to make a decision.
As most of our decisions are taken based on how we feel, Lennar uses this to create something that will be likeable to its buyers.
The campaign invites its buyers to ” live a little ” in their dream home, which allows them to test a Lennar home before even buying it. For the creative, they used to copy photographs that make a house a home and the memories that can be cherished.
Lennar is advertising digitally about its lavish dining room. It’s using the Lennar Triple Policy offers to tell the customers to buy now.
We can see from the image above that Lennar is spreading awareness about its Mommy-certified homes that have everything a family needs from pools to playgrounds, open floor plans to extra counter space, and room to grow.
Lennar also tells its customers to visit its website to learn more about Lennar’s Mommy Certified homes and communities.
This campaign became so successful that the agency was asked to pull back on traditional advertising to allow its sales group to keep pace with growing demand.
. 25% increase in calls to the sales centre.
. Within 4 weeks, sales doubled from 28 to 60 a week.
. 2x increase in weekly sales.
Social Media Marketing
Lennar can be found on –
- Facebook (1,282,437 followers)
- LinkedIn (104560 followers)
- Twitter (245.75k followers)
- Instagram (153k followers)
- Pinterest (57.4k followers)
They are mostly followed on Facebook. They post pictures of Lennar homes, also ask their followers to give their opinions, and also share Stories of first-time buyers and their wins. They also tell their customers to post pictures of their Lennar and tag them.
Source – UberSuggest
We can see here Lennar has 517,625 organic keywords and it’s considered amazing, which means that digital marketing Lennar is gaining a good reach. Also, the organic monthly traffic is around 830,849 that’s impressive.
Cyclists take part in the DCC challenge which Lennar proudly supports them. They host 5k runs and they donate all 100% of participants’ raised funds to the research centre of Sylvester Comprehensive Cancer.
Lennar has its website from where they showcase its designs and they have made everything so simple for its customers. It contains everything that a customer needs in their home-buying process.
Mobile App Strategies
In 2012, Lennar launched its mobile app called myLennar iPad App. The app is not just a new home search tool but also guides its customers through the entire home-buying process.
Customers can use geo-location or more conventional means to find their Lennar homes. They can also save their preferences of the homes they saved and compare their rates with other available options.
Content Marketing Strategies
Lennar is very active on every social media they have. Their post content is related to their new designs, new schemes, or features for their customers. They post pictures on every platform and ask their customers to review them.
Conclusion – What’s unique about the marketing strategy of Lennar?
Lennar clearly defines what it stands for and serves a variety of designs to meet the needs of its target audience.
It provides lots of features like Smart home technology, Energy-conscious features, Modern interiors and exteriors, and many such things making it unique from its competitors.
It is known to all of us that most businesses are taking digital marketing seriously as in pandemic times almost every business became online.
Through digital marketing they can run effective campaigns, they can use the right strategies, can target the right audience, can sell their products, and can do lots of tactics here and there which will automatically result in their company’s growth.
With so much demand and hype about marketing, you must be curious about what it is and what happens. So if you are interested in digital marketing, check out IIDE’s 4 months digital marketing course to learn more about it in detail.
We hope that this blog helped you to understand our amazing marketing strategy for Lennar.
If you like reading about such topics in detail with overall analysis, just like the marketing strategy of Lennar, check out our IIDE’s knowledge Portal for more such insightful research.
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