Situation:

Nogales de la Florida faces challenging market conditions marked by post-pandemic economic downturns, rising interest rates, and inflation, which have significantly impacted sales. 

 

This initiative aims to drive sales in new market dynamics and transform Nogales through evolving it’s core offering and targeting the right people for the project.The initiative leverages a human-centered design thinking approach to discover human insights and data that we can use to build the future of Nogales so the value proposition resonates with modern families and investors.

Approach:

The cross-functional management team embarked on a comprehensive business model transformation that included several strategic initiatives:

• Persona Development: Through interviews and surveys, Detailed personas were created to better understand the diverse needs, preferences, and behaviors of potential buyers, aiming to segment the market more effectively and tailor business model strategies to a specific audience. 

• Market Analysis and Current State Business Model Canvas: Conducted to reassess and realign the project’s offerings with current and emerging market trends, ensuring that the products meet modern buyer expectations.

• Value Proposition Development: created a new value proposition around the needs and wants of the users

• Innovative Design Thinking Ideation Workshops: Utilized to ideate and prototype new solutions aimed at enhancing the value proposition of the Nogales project, focusing on creating a differentiated living experience.

• Integrated Marketing Campaign - collaborated with creative media agency to bring to life the value prop and human insight as the strategic thread to amplify the message to the audience we identified. 

How Might We...?

• How might we create a new value proposition for Nogales de la Florida that attracts more investments and sales, considering the current market reality?

Insight:

• Both the future residents, as well as the investors, want a space that promotes security (financial and physical), well-being, and connection

Solution:

The strategic transformation led to the implementation of several innovative solutions:

• Identified easy wins - Transparent comms of progress to existing customers, call to actions in key sales touchpoints, potential partnerships with malls and other social organizations. 

• Reframed Value Proposition: From selling an apartment to creating a wellness ecosystem for residents and a smart investment for investors. 

• Community Building Initiatives- Developed multi-functional communal spaces such as co-working areas, social lounges, pet zones, and event venues to encourage community interaction and engagement.

• Sustainability Reframing - learned about the efforts already taken and highlighted them from a sustainability focus  

• Strategic Thread - Focused on the value proposition messaging and personas as the strategic thread to inform the Integrated Marketing Campaign and enable sales 

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This holistic approach not only revitalized the project but also positioned Nogales as a pioneering development in South America appealing to modern buyers and investors looking for innovative and sustainable living solutions. The project successfully transformed its business model to focus on creating a living experience that resonates with the desires and needs of its target audience, ensuring its growth, appeal and market relevance.

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