Proptech Growth Strategy Brief Newsletter
Landis Growth Strategy
Landis empowers potential homeowners to rent their dream home from Landis before buying it from them.
"Grain of Salt" Warning: I write this newsletter with an outsider's understanding of the business in question. I am likely to make mistakes, leaps of judgement, and assumptions - that's what makes it fun.
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Homeownership has long been inextricably tied to the American dream. But over the last 30 years, the American dream has more and more been becoming just that - a dream. Adjusted for inflation, US home prices have almost doubled over the last 30 years, becoming one of the core factors behind the emergence of the Odyssey years, pushing adulthood, marriage, and family further out for most Americans than ever before.
Several startups have flooded the space combining novel financial instruments with real estate to help more Americans buy their first home sooner. One of them is Landis, which allows qualified would-be homeowners rent their dream home from Landis on the way toward taking on full ownership themselves. It's almost like an apprenticeship program for homeowners, a way of de-risking mortgage loans while expanding the market of people who are qualified. And like any apprenticeship program, applicants must meet a specific criteria to be considered.
Here's how I think they could unlock new levels of growth.
Landis is very well positioned to start producing high quality content based around future homeowners. Identify issues that stop users from being accepted into Landis's program, and create content around that to not only attract more prospects, but help increase Landis's prospect conversion rate. Consider splitting content into two core buckets - ready to make moves toward homeownership now, or will be ready to later. This will help segment web users into buckets who can be emailed and retargeted with different messaging.
Once this content has gotten rolling, seek PR around it. Real estate unaffordability is a hot button issue, and there is fertile ground for companies who are taking bites out of the problem.
If this is successful, start running webinars and email courses featuring more in-depth advice to help future homeowners, and then run paid media to get signups and build an email list.
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As the email list grows, keep producing useful content and distribute it to your list in the form of a high quality email newsletter. This will help build a strong pipeline of users who will trust Landis when they're ready to make moves.
All this educational material will be especially relevant to applicants who've been denied by Landis in the past. Run automated email checkins with those people every six months encouraging them to apply again if they've been following the advice you've been putting out in your content.
While building this infrastructure, run a positioning and story exercise. Landis's value proposition is difficult to understand, and the web copy does not currently help potential clients understand where the value is.
People love talking about their homes, and they love talking about great deals or opportunities they've found even more. Empower existing customers to spread the word by offering strong double-sided cash or credit referral deals for customers to encourage them to tell their friends and family how they got onto the housing ladder. Start with as high a referral bonus as you can afford to get the word out quickly, and slowly reduce it over time as your pipeline fills.
That's it for today. Thanks for reading!
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