CDC Holdings: Establishing credibility, boosting success with ‘relationship marketing’

Wednesday, 30 September 2009 19:30

THE real estate industry is one cutthroat battleground with developers always trying to outdo competition by continuously coming up with one project to the next like a manufacturing plant churning out homes. Homebuyers are overwhelmed with the choices and the programmed responses to the whole process of procuring a property. Lost in the urban milieu is the traditional relationship of old, which transpired between buyers and concerned developers seeking to give a family their dream home. For CDC Holdings, this strategy called “relationship marketing” should never be compromised. Instead, it is espoused until today, with transactions between client and company elevated on a personal level. “We train our people to recognize the importance of having a good relationship with our customers – to be with them every step of the way to owning a new home,” said Elsie Chua, president of CDC. Chua, an expert with more than 22 years’ track record in the property industry, refers to the strategy as one of the winning formulas for the company’s success. In fact, the continued implementation of this technique boosted CDC’s gross revenue sales, from P80 million in 2007 to P364 million as of July this year. A significant portion of the sales is attributed to the high referral rates—another testament to the company’s admired products and much sought-after services. Strong start CDC Holdings is the investment arm of a group of companies engaged in property development, property management, sales and marketing, hotel and serviced-residences management. When it started, CDC Holdings began building and selling residential units for the middle-income market. The company soon expanded to vertical developments, the most notable of which is Millennium Plaza. The project became the benchmark of serviced apartments in the country as Millennium Plaza was managed by an international hotel group. In 1994, The Quadrillion Marketing Corp. was created to better manage the growing portfolio of CDC Holdings Inc. Under the Quadrillion umbrella, other companies were established such as Quadrillion Sales Inc., Quadrillion Property Management Inc., and the Quadrillion Filipino Center. These companies boosted CDC’s ‘relationship marketing’ strategy as the companies provided opportunities that empowered CDC’s sales force – giving them the chance to excel in sales and be their own entrepreneur. “In a way it became a CSR project of CDC as we were able to give jobs where people can further improve their skills to their advantage,” Chua noted. Tapping the offshore market One of the directions taken by the company is to tap the market of overseas Filipino workers (OFW), particularly those in the Middle East. “We are trying to reinforce the positive idea that real estate is a good investment where OFWs can put their hard-earned money in. We provide them with housing projects fit for the kind of lifestyle they deserve after working for so many years in a foreign country,” Chua explained. These homes range from single-detached units, town houses and mid-rise condominiums. Some of the latest projects are: La Joya de Santa Rosa in Laguna (house and lot properties), Manila Rivercity Residences in Santa Ana, Manila (mid-rise condos), Crisanta Villas in the Pasig-Cainta area (townhouses), and Lions Park Residences in Parañaque (mid-rise condos). These homes offer a state-of-the-art lifestyle inspired by bustling cities all-over the globe. “We sit with our clients and get first-hand information on what kind of home they wish to have for themselves and their family. Those ideas are then infused in our projects, so that our market can enjoy that kind of lifestyle,” Chua said. CDC goes the extra mile by adding different facilities that will be enjoyed by their future home-owners. Lions Park for example, promotes the serene lifestyle with well-landscaped gardens, while Manila Rivercity Residences has numerous water installations to exude a Zen lifestyle. The feedback from abroad has been so positive that Chua is actually the first woman allowed to sell properties and set-up office in Saudi Arabia. Other countries with a CDC sales force include Japan and Qatar. 4 Ps of success Chua credits the success of CDC to four major factors: “First is that we offer the right product. We don’t take advantage of our customers. Our projects have always been on a “build first, sell later” basis to make sure that we deliver what we promise. And we don’t hold back on the quality. For our mid-rise condo projects for example, we make sure that our residents never feel cramped, the way they usually do in other high-rise projects.” Next is the right price. According to Chua, CDC is tapping not only OFWs as their major clients. “We are also tapping the middle-income work force and starting families, so our projects are considered affordable and easy on the savings. We help them when it comes to payments by pointing them to the right direction of entities who could help them such as Pag-IBIG Fund.” Third factor is the right promotion. “Aside from some marketing strategies, we get most of our promotion from our clients who trust our products and directly recommend us to other people.” Last, but not least, is the people. “We create a kind of environment where people are inspired to work because they know that what they are doing will benefit themselves as well. We have a very special relationship not only with our clients, but among our employees as well. Our people are our most important asset.” CDC Holdings Inc. is currently ironing out future plans of establishing serviced apartments in Quezon City, Manila, Cebu, Iloilo and other parts of the country.