Founded in 1995, 20 VIC Management Inc. manages a national portfolio of shopping centre, office and industrial properties. As a real estate company focused on the retail market, it offers expertise in property management at its 19 shopping centres across Canada.
Faced with a rapidly changing retail environment, 20 VIC wanted to develop a data-based marketing approach to increase shopping centre sales, optimize the tenant mix and create value for property owners. However, the company lacked a cohesive research program and its research tools and demographic data were outdated. The shopping centre marketing teams of 20 VIC needed tools that would enable them to gain a deeper understanding of their customers to better answer strategic questions and inform their advertising campaigns.
To help 20 VIC create an effective research program, EA provided a wide range of datasets, including current and projected demographics from DemoStats, and lifestyle and media preferences from the PRIZMC2-linked surveys. Delivering the data in-house through EA’s ENVISION micromarketing platform allowed 20 VIC analysts to link their shopping centre data with the third-party datasets. Users could analyze trade areas in real time, drawing on a range of insightful EA reports that covered daytime population trends and mobile media habits. Working collaboratively with 20 VIC teams, EA created a customized research training program for ENVISION “power users” across all departments. Marketing teams received instruction and ongoing support to craft customized reports and maps about their mall trade areas.
With its new in-house research tools, 20 VIC teams used ENVISION to create numerous reports that more accurately defined their customers, how they spend their money and what media channels they prefer. Leasing teams began using trade area demographics to support their tenant mix decisions. Marketing teams tapped the on-demand information to monitor how data affected their marketing efforts. And some shopping centres integrated PRIZM-linked AskingCanadians™ digital insights into their seasonal campaigns for tablet and mobile advertising. In the exurban market of Peterborough, Lansdowne Place Shopping Centre increased customers by expanding their country radio advertising plan to include a country station to reflect the market’s dominant tastes. Marketing Director Helen Edwards saw how the EA data could be translated into mall contests to attract customers and drive audience engagement across social media. “Offering Havelock Jamboree weekend passes became our largest contest with over 2,200 responses, 42,000 views and 65 ‘shares’ on Facebook,” she says. With a goal of rolling out more country music-themed advertising in the future, she sees an opportunity to sponsor similar events like the “Boots and Hearts Music Festival.” Realizing how a company-wide research program can enhance marketing and business strategies, 20 VIC plans to increase its training plans for 2014 to include enhancements to mapping and more strategic applications of data to increase audience reach and sales.