Television has proved to be an effective advertising medium for one Thailand property developer, which has used CNN and other global channels to promote its latest development, but digital still remains the most cost-effective channel according to the CEO.
For Phase 2 of its Park 24 development, where its 1,174 unit start at THB175,000 per sqm and around THB4.9 million for the smallest unit, developer Proud Residence Co had a large-enough marketing budget to consider regional television coverage – a notoriously expensive medium to promote property.
For Proud Residence Co, it has worked.
Speaking exclusively to DDproperty.com, Thongchai Busrapan, Chief Executive Officer of Proud Residence Co., Ltd confirmed this was the first time the company had used regional television for advertising.
“Normally we only advertised via local television channels,” he said.
“I think it is a standard media to use, but it requires a certain budget to reach the audience, and therefore a higher advertising budget supported by a larger project.”
However, for his company digital channels have become more cost effective, he said.
For Phase 2 of the substantial Park 24 development, which only opened for pre-sales earlier this month, Thongchai confirmed more than 60 percent of units have been sold to date, with around 35 percent coming from foreigners.
Despite the cost, Thongchai said television has its advantages.
He said: “I think television commercials can create a more emotional feel, and is more convincing for audiences. That’s something print ads or radio cannot do.”
Park 24 is located on a 12-rai plot of land in Bangkok’s Sukhumvit Soi 24, in the middle of the new EM District, with access from both Sukhumvit 24 and Sukhumvit 22.
It also enjoys close proximity to Bangkok’s mass-transit network at BTS Phrom Phong.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
