As a luxury real estate marketing professional, when you are already the market leader maintaining your top-of-mind status should be your focus. Although, resting on your laurels (your achievements) is tempting, it is an invitation for your challenger to seize market share from you. Therefore, continuously increasing your visibility is very important. Being active in your community and championing a good cause is one way of doing this. Here is an example.
Ralph Lauren is the quintessential American clothing lifestyle brand. It is also a world class brand recognized on every continent. One could ask, “Why is Ralph Lauren bothering to outfit the US Olympic Team and the Para Olympic Team? The Olympics is one of the most global viewed events. It occurs every two years alternating summer and winter Olympics. The publicity this event creates will add to the brand’s awareness among its target market. It also emphasizes the brand’s support of the US Team, which make people think highly of the brand.
Ralph Lauren has also created a line for US Olympic fans that will range from $10 pins to $198 dresses that can be customized. The special Olympic web page on the company’s site includes a countdown clock and will also feature each individual on Team USA with their bios and their stats in their sporting venue.
If you are the market leader in your area, how can you maintain your visibility? If you are the challenger, up against a market leader who is resting on its laurels, how can you seize this opportunity to outshine your competition?
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