As a luxury real estate marketing professional, the fastest way to achieve market leadership is to identify a new category of business and start out as #1 in that category. One way to find a new category is to look for an underserved segment or niche within your marketplace. Then offer an extraordinary promise of value that makes your competition irrelevant.
If you can identify a problem that your competition does not adequately address your original solution can become news! Doing so can leverage the news-hungry media to promote your new category and your new brand in the process. Take Onesole, the “original interchangeable shoe” for example.
Dominique McClain, a pharmacist and frequent traveler, set out to create and patent a shoe that is comfortable, versatile, fun, economical, and easy for travel. The tops of the shoes literally snap off and can be changed! You can virtually have a closet full of different shoes with just a couple of very comfortable soles and a variety of tops.
While she was sports fishing, Dominique had her big “ah-ha” moment. She noticed that the stainless steel snaps that secured canvas on boat (and can withstand 70 mile an hour winds) were the perfect solution to affix interchangeable tops to the soles of shoes.
Voila! A new multi-million dollar category of women’s shoes was born that solved the problem of having to haul many pairs of shoes on business or leisure trips. And, it made it affordable to vastly expand one’s shoe wardrobe in tough economic times. Sometimes the best marketing ideas are the simplest.
Dominique did all of this without having formal business or fashion education. She also intuited the importance of giving her brand a name that would also name the category. She did not fall into the trap of calling it Dominique, for example. The value of this is that once you hear the name Onesole and understand the new category it makes it easy to remember and also tell others about the new category. The name readily communicates the soul of the brand, the thoughts behind it that solve the problem. People like to help promote effective solutions.
What is the soul of our brand?
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