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Luxury Real Estate Marketing Tips

Brand Building: Self Expression In Harmony with Your Target Market!

Your personal brand, from an aesthetic perspective must reflect your own tastes, your core values and your own personality.   Yet, you also have to take into consideration your target market.  That is, who you intend to attract as ideal clients. 

Who are your ideal clients? As it turns out, when you really think about it, your ideal clients are people who share your values.  For example, if you value a lighthearted sense of humor, your ideal clients would definitely not be curmudgeons, killjoys or wet blankets.   

In our strategic branding consulting practice our job is to help real estate agents, real estate companies and others dial into their unique DNA (Different Not Alike). They have to also tune into their target market.  Then, together we find a brand signal is in harmony with their target market.  

Too many real estate marketing professionals are so busy trying to please others that they disregard their own very important personal perspective.  As a result they attract clients who are less than ideal.

What is amazing about this process of personal/company real estate branding is that there is always a way to articulate your personal brand signal so that is harmonious with your target market without compromising your DNA or your integrity. 

The key is to express yourself fully and have fun in the process.  Your ideal clients will have a much easier time finding you that way. And your brand will continue to build your reputation in your target market. And it will make you easier to refer. 

Branding Moment: Senryaku 戦 略 a.k.a. Brand Strategy

As we were waiting in line for Arigato, our favorite Japanese restaurant, to open their doors, the gentleman in front of us asked if waiting in line for the doors to open a common sight for this restaurant.  He told us this is common in Japan at famous sushi places.   Three minutes after we were seated at the bar, he and his companion sat next to us.   

Conversation flowed, and when he heard what we do, he asked if we knew how the word "strategy" as drawn in Chinese characters meant 戦 略.  He explained: The first word drawing means "effort", The second means "without".  Strategy means working without effort.

Simply stated brand strategy is defining how you are planning to communicate with your market, now that you have defined your brand.  This means marketing your brand, so that you are known for what your specialty is whether it is in real estate or any other business.  Here is an example of a brand strategy we created for a home health care company to achieve their goal in building their brand.  

When we asked the co-owners, who is their ideal client, they kept talking about their patients, young and old who needed in-home care.  They described their patients, the young man with a broken leg, old people who needed home visits for grocery shopping,  and making sure they were faring well. They kept describing their services, and the excellent trained staff they have which were all bonded.  

Finally, they realized that it was the parents of young and grown children of the old who were contacting them...Those who made the call were their target market.  The parents of the young man who broke a leg in the football game called them to give their son home care, while they were at work. The son or daughter of the aging parents were the ones inquiring and home health care for their loved ones, while they also were at work, or needed time off.

The brand strategy made marketing easier. They knew who to target, and they realized that they were selling time/relief for those who needed it.  They were now working without effort.  That focus created their brand strategy and their income stream.  Within 5 years, they sold their company and retired.

In real estate speak, this is why we harp on finding a niche or several niches as a brand strategy.  Instead of trying to serve all who have real estate needs, why not pick one or several that you can excel at and be good at?

Just make sure, that you will enjoy it, as well as the people you serve...In our opinion having a brand strategy in place makes work fun/without effort--with a strategy in place to build your business.  Do you have a brand strategy that does not involve effort?

Marketing Savvy: The Difference between Branding,Marketing & Selling!



As we read various posts, articles, and commentaries, we often see branding, marketing and selling used interchangeably.  Each is distinct and plays a vital role in brand loyalty. We are writing this post in order to shed clarity on these three important words.

Branding is a name or an image of a company.  This is a form of communication that occupies a place in a consumer's or target market's minds.  The brand is also seen as the answer to their target customer's prayer, and the solution for their problem or mindset.  This engenders customer loyalty to the brand. 

Marketing is the brand's presentation to the consumer or the target market. Marketing is matchmaking.  It requires concisely communicating the essence of your distinct promise of value to your ideal target market as you address their most pressing needs.  If your communication is clear your ideal prospects should instantly recognize that you, not your competition, are the right match.   

In this instance, the target market rules, because it represents your ideal client.  In other words, marketing looks at what the consumer needs and wants, and focuses on meeting those needs in their communication.  In other words, if the target market, still has the paper delivered to their homes, the smart thing to do is have ads in that publication. " Marketing done right makes sales irrelevant!" (Peter Drucker).  

Selling is trying to convince those prospects that are not really a match to you that they should work with you, or buy from you anyway.  The need to sell comes from the false notion that there is a scarcity of ideal clients out there. But, the truth is that the time you waste trying to win over non-ideal clients and slogging your way through difficult transactions distracts you from opportunities to meet and work with perfect matches.  

Selling may give you the immediate gratification of momentary wins, but it will burn you out in the long run.   Furthermore, selling will not engender brand loyalty, it may also give you a bad reputation...

Will Buying New Shoes Become Your Unfair/ Competitive Advantage?

An article about Nike's new shoes inspired this post.  Some athletes complained that wearing these shoes would give someone an unfair/competitive advantage!  They even enlisted the help of the Olympic Committee to ban them.  The Olympic committee ruled that shoes cannot win a race...It is the individual in the shoes that wins the race!  

 

This bit of news led us to a discussion yesterday morning in our mastermind. In order to differentiate yourself from the crowd of real estate agents or companies, you have to tap into that unfair/competitive advantage that you were born with, develop it and utilize it to the max and we would not advise you to buy the latest greatest shoes.  

 

Those who are critical of successful people are actually (in our opinion) apologizing for their failure to realize their potential.  We ask our clients, "what can you do better than anyone else?" Identify your unfair/competitive advantage and find a way to capitalize on it!  Here is an example.

One of our clients wanted to best #1 and #2 in her marketplace.  #1 was from an old well- known and beloved wealthy family. This person was admired by her circle of friends and was an excellent agent.  She would get together with her circle for high tea, and walk out with several listings.  Her unfair advantage was the best connections in the luxury real estate domain, where her sphere sold and bought.  

#2 's husband had a position of power in the city.  Since she was part of his campaign, they were connected politically to the shakers and movers.  Like #1, she is an excellent agent.  Those connections led to her success in the luxury market.

Our client had no connections to rely upon.  Like the other two she is an excellent agent. She could not get into the door of either sphere, even though she is as competent as they are.  As #3 she had a solid sold portfolio of luxury homes.  

What she could do better than anyone else is related to the new wealth and economy that was growing in the marketplace, and the areas where they wanted to live, which differed from her competitors.. She was a natural for those who fit that category.  They could easily relate to her on many levels! Remember, people like to do business with people like them!

Do You Know What Your Unfair/Competitive Advantage Is?

Please don't tell us that your unfair advantage is your competence, your integrity, your website ranking, your market reports, your blog, your CRM, your photos, your videos, your coach, and the shiny new things you recently bought. These are all nice shoes.

Remember, "It is the individual that wins the race, not the shoes"

 

 

Monday Musings: Where is the Beef or Differentiator?

One of the most important aspects an ad should emphasize especially when launching an a new product or service is the beef --- their differentiator. (Unique features and/or benefits of a product, or aspects of a brand, that set it apart from competing products or brands.) from their competitors.  

 

The ad is beautiful, well directed and you will no doubt be humming the song from Frozen, "Let it Go" after viewing the new Audi ad for their electric car. Their emphasis is on sustainablity via an electric car!  How do they differ from Tesla in the luxury market if that is their target market?  Tesla is all about sustainability, as are many electric or hybrid cars like the Prius which was ahead of its time many moons ago.

 

When creating a marketing campaign on line, video  or any other form, remember to include what sets you apart from your competition.  Other wise it is more same-o, same-o, oh, oh!!

Marketing Savvy: Two Strong Marketing Trends to Dial Into!

As we review the trends, we are noticing that two important trends which emerged in the last quarter of 2019, are making their mark on 2020.  The first is CX (Consumer Experience) and the second is UX ( User Experience on the web). Luxury is being redefined not as  acquiring the biggest, the best, and the most expensive stuff,  instead luxury is defined as both time and  the lifestyle of experiences.   How does that apply to luxury as well as any other branch of real estate?

 

CX/ Consumer/Client Experience

We all agree that buying and selling real estate is an emotional as well as a business experience.  Buyers and sellers want to be taken care of, and feel that in your hands whether you are selling or buying they are taken care and can spend time (the other luxury) doing what they want to be doing.  You communicate and stay in touch as the transaction evolves. Peace of mind is a luxury regardless of the price of a home, everyone who buys or sells a home deserves this.  

 

UX /User Experience

Web experience focused on pleasing the Google gods is not necessarily something that is exciting nor does it leave an elevated emotional experience for the onlooker.. Ron and I often study websites both real estate and other businesses.  

What makes a sticky site, is when your brand is translated into digital by emphasizing the identity with beautiful visuals of and for your target market. Simple and intuitive design focused  on user understanding is key.  The site should have great search or interactivity, and be technically reliable.  The visual can include motion graphics (pieces of animation or digital footage), which done right is a wow!  We have never been fans of signing in to view a real estate or any other website, it is so easy to click away and find another site in the same category.

 Both CX and UX are expressions of your personal or company brand. In both cases you need to focus on how your client feels about working with you.  If you elevate their experience into a pleasurable event both in person and on the web, this will spark word of mouth advertising, something money, SEO/SEM nor digital ads can buy!

 

“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.

Maya Angelou

Savvy Marketing: Telling Twisted Tales or Trust and Truth?

Recently someone mentioned that they were uncomfortable marketing themselves.  They felt they would be boasting, and people would be turned off by their boasts.  That is true based on the definitiong of boasting: showing excessive pride and self-satisfaction in one's achievements, possessions, or abilities.  We would refer to boasting as "twisted tales" meaning there is an element of truth with a twist of boasting.

The two governing principles in running any successful company are trust and truth.  These principles are applicable to the business of real estate, if market leadership is your quest as a real estate marketing professionals.  

“When they trust you, you'll get truth. And if you get truth, you get speed. If you get speed, you're going to act. That's how it works.” Jack Welch, (former CEO at GE who during this 20 year tenure increased the company’s value from $14 billion to 500 billion).  

In your listing presentations, be sure that you can pass the “no-spin” test.  Twisted tales about market value, eyewash or any sugar coated facts will most definitely come back to haunt you.

Your relationships with other agents in your marketplace should also follow the same principles if you expect to be in the business for the long run.  Be accessible and insure that your trusted assistant helps to get things done ASAP.

What will be your choice? Telling Twisted Tales or Trust and Truth?

Brand Positioning: Becoming A Game Changer with What You Stand For!

Simply stated, brand positioning is the space that a given brand occupies in the mind of its customers or clients.  What does your personal or company brand stand for?  Where do you stand in the minds of their target market in relationship to your competition? 

This is your brand position. In the commoditized world of real estate marketing, your ability to clearly define and effectively communicate your brand position is the most powerful way accelerate the pace at which you grow your business and you become the game changer.

In the fiercely competitive beer market, this recent campaign by Miller Beer was in our opinion brilliant.  Created by DDB Chicago positions the age old slogan of Miller Beer "It's Miller Time!" as the original social media, is positioned as the antidote to  collective social media. 

The company’s research found that people will spend five and a half years of their lives on social media, and 50% of 21-to-27 year olds only meet up with their close friends a few times a month.  

Take time to view the following 3 videos (total time 2 minutes and 2 seconds) Each makes a clear statement as to the difference between a few thousand followers vs a few friends called "Followers". 

We also like this 16 second video called Swiping Left. It is takes as gentle poke at on line dating!

And we wish you lots of HahaHa moments with your friends with this additional 16 seconds video.

To add to the campaign's momentum, the brand is "complementing this notion with a promotion that will reward drinkers who unfollow Miller Lite on Facebook and Instagram with free beer. Just text a photo or screenshot to an SMS short code and include keyword “Unfollow,” and the brand will send you a link to upload a receipt from buying some Miller Lite, and the brand will credit your PayPal account. Miller Lite is also taking two weeks off from any social media of its own.

Whether you are selling beer or real estate, you have to stand out in the minds of your clients.  Taking command of how your personal or company brand is perceived in the minds of your target market is the essence of brand positioning. As a real estate marketing professional, if you do this right you can become the game changer in your marketplace.

What does Your Brand Stand For?

Branding Moment: A Fun Brand--We Egg To Differ!

Pictured above is Sir Kensington's brand of mayonnaise that describes what makes it unique and different. We were drawn to the fact that it has no GMO (Genetic Modified Organism). The rest of the ingredients were above and beyond reproach for our standards and taste.

And yes, it tastes really good, it reminded of the mayonnaise my mother used to make by hand--no mixer needed.  I really liked their video which summed their mission statement and what they stand for and how they are different from other brands.

How do you Egg  Beg to Differ?

Branding Moment: Mixed Messaging!

The clearer your marketing message is, the easier it is for your intended customer to respond and give you call.  When the message is baffling, very few will take the time to figure your message out, unless they are related to you.

As we were heading down to Salt Lake City from Park City, (pictured above) is a van that was in front of us.  Both Ron and I were were trying to understand the message.  What was  the relationship between the Serenity Spa by Westgate, and the Edge Steakhouse?  Why were they represented on the same truck?

And like many who are baffled by mixed messages, we chose to ignore after we took a picture for a branding moment post, passed the truck, and turned our attention elsewhere!  

Cultivating A Luxury Mindset: Do You Have An Open Mind?

This video was brought to our attention by our friend at Apple on New Year's Day.  Before they open the store each morning,, they have a meeting of all their employees of the day to discuss how to serve their customers better.  They viewed this video, which was their inspiration of the day. Our friend loved the video and was inspired by it.

This is the attitude to cultivate. An open mind will bring you more business and great connections! Take a moment to view this two minute video, and as I write this post it has been viewed over 4 million times.

In other words, see every individual you meet in a new unit of time. mindfully., Mindfully means without the baggage of pre-conceived notions and prejudices. Are you willing to act like human and not like a robot with canned answers ? Are you willing to at least try? Whether you are selling/listing a double wide or a $100 million mansion, every seller/buyer deserves to be treated with a luxury mindset!

What do you think?

LLLL: The Luxury of Life Long Learning!

We are both extremely passionate about learning something new every single day of our life.  It is a way to expand our perspective and enjoy the world we live in that much more.

Yesterday, we had signed up for an hour and a half tutorial at the Apple Store in order to learn more about the 11 Pro, which I recently bought by trading in my 10X.   The class was called video walk and how to create cinematic effects. 

Our teacher suggested the historic Arcada building in Santa Barbara as a great video subject.  We shot 16 minutes worth of film, which we reduced to under a minute . You can see what we came up with, and had fun doing as we watched the Oregon Ducks win the Rose Bowl...

We used stock music and sound effects that are part of iMovie app..   Ron was so pleased, since he found it so much easier to work with the App rather than with iMovie on the Mac.  And I am looking forward to applying the principles our teacher taught us in making a film/video, even though we have attended film classes at UCLA as taught by some of the great directors and cinematographers.

On our extended staff, one of the gentlemen we work with is a two time Emmy award winner.  I watched him film the entire sequence of the French Laundry truffle dinner on an 11Pro.  It looked just as good as the following sequence the video that was shot in Pebble Beach with his pro camera...

Our advice, if you on an iPhone regardless of which incarnation, sign up for their courses.  The photo session alone was an eye opener, and the classes are free!   Luxury is Life Long Learning!

A Remarkable Holiday Branding Moment: Communicating With Smart Design!

As we approach the end of the holiday season, we would be remiss in not mentioning how Nordstom communicated the spirit of the holiday with smart design. We were impressed with the Nordstrom's holiday themed bag!  Pictured above is one side of the bag. 

And, here is the other side.  From the day, they premiered this bag, we have asked many what their impression was.  Everyone we spoke to really liked it. This is the perfect example of communication with smart design.  The message is clear, no words are needed!

Branding Moment: The 16 Billion Dollar Color Package Sale!

We have always insisted when developing a brand for a luxury real estate marketing profession or a  luxury company being consistently remarkable should be reflected in all the presentation materials. Whether in print or on the web, one has to stand out and communicate their identity and its congruency with the target market.

In our numerous posts on the subject, we have often analyzed the Tiffany Brand.  In our live presentations, we often brought a Tiffany jewelry box with white ribbon, and another brand's jewelry box.  When asking participants which one they preferred Tiffany won the majority every time.  

The quintessential American jewelry brand was recently acquired by LVMH (Louis Vuitton, Moet Hennesey) for the sum of $16.2 billion.  Here is more of the story from Reuters:

The Reuters article stated the due diligence that LVMH did on the subject of color,

Bernard Arnault spent lots of time checking all the IPs and protections on the blue box. The most famous Tiffany product is actually its packaging, the color, the form, the white satin ribbon, all of this is protected,” said one of the sources close to LVMH.  LVMH's billionaire boss, 70 year old Bernard Arnault stated in an interview with Reuters: "We're the owner of a color, it's a pretty rare thing!"

Next time you entertain the thought of that a vanilla presentation or a vanilla website is good enough, think again.  It may cost you the listing!  The same exact diamond ring signed Tiffany will cost more in a Tiffany box and will be treasured even more, than the one in the plainer branded box!

Would someone buy your package?

Branding Moment: Finding Your Business DNA!

Pictured above is a portion of a cave that was enclosed in glass to show the dirt/soil that the grapes of this winery grow in this particular Napa Valley floor!  The term for the DNA of the soil is "terroir". Terroirs in the same acre of land can differ from one side to another.  

As glaciers melted, oceans receded, and climates changed, the soil was also affected . By studying the composition of the soil, one can predict with some accuracy what grapes will do best, as well as the taste of the wine.  For instance, the Constant Winery grapes are grown on volcanic soil, and we could taste a hint of smoke in the 2011 wine, and not in another vintage grown in a different area.

The same is true for humans.  Although siblings may inherit similarities in DNA, they will still have their own unique characteristic that identifies them. The entire exercise of personal branding for real estate agents is geared to cracking your DNA Code. That is, clearly and succinctly articulating your unique selling proposition—how you are different, not alike (not like your competition).

DNA profiling or genetic fingerprinting is a technique employed by forensic scientists to assist in the identification of individuals on the basis of their DNA profile. Although 99.9% of human DNA sequences are the same in every person, enough of the DNA is different to distinguish one individual from another

In real estate agent personal and company branding we identify your 0.1% difference. Then we amplify it graphically, in messaging and in distinct marketing strategies that set you apart from your competition, in a nano-second, in the minds of your target market. 

The faster you can tell your target market how you are different, not alike, distinct from other agents, the faster they can decide to work with you or not. People like to do business with people like themselves. The faster you let them know you are like them the faster you can build trust in your business relationship.

What’s at stake in cracking the genetic code through the process of personal branding for real estate agents and real estate companies? Whoever has garnered the most high trust relationships wins.

Here is a basic way to get started in cracking your own DNA code:

1. Look at how your competition attempts to differentiate themselves from one another.

2. Check out their websites and see how well they distinguish themselves.

3. Ask yourself how you are different from them?  (different does not necessarily mean better, it means unique, inimitable--because you cannot imitate a DNA code).

Our Favorite Kitchen As Designed by Architect Howard Bachen

Of all the kitchens Ron and I have seen in our branding assignments in the United States and Europe, the kitchen pictured above at the home of the owners of Constant Winery in Calistoga is one of our favorites.  The owners live overseas, and they allow small events at their home while they are not in residence. We were invited to have lunch there, and taste their amazing wines. 

Many experts have said that Howard Backen revolutionized the open concept of the great room.  I have included the link to his company site.   This is one of his earlier designs, and the first time we saw a similar kitchen was at the Napa Valley Reserve

No kitchen would be complete without an outdoor kitchen, and especially a pizza oven housed in the round building.  It is set among a small grove of olive trees.   Here is the view from the kitchen of this area.

Happy Tuesday to all of you!

Not So Wordless Wednesday: A Most Unusual Foyer

Here is our route to the parking area of the Constant Winery Home via this most unusual foyer.

Ron is opening the door…

As we walk through, there are wine barrels stacked on both sides of the foyer which is underground. This maintains the right temperature.

And it is dimly lit with this custom made Venetian chandelier! We hope you enjoyed this tour as much as we did...It was a first foyer of this kind for us!

Branding Moment: Is This Brand too Bland Or Just Right?

We have always been of the opinion that one size fits one size. Each one of us is one size, Our method is to custom fit a brand to its function, to its market, and the individual, team or company. At that point, it resonates with its intended marketplace and communicates the message clearly. That is the criteria!

Our first impression in seeing the back of the truck (pictured above) was, what is being presented and who is Gavin Roy? Do we care to find out? If we were not in the branding business, we would not have noticed the truck or investigated it further.

It took a bit of maneuvering on the freeway, however, we managed to get a side shot that revealed the six part business as pictured above. The business seems to be focused on parties or large events. Where is the fun? Where is the phone number? 

 We applaud the script font for the initials. That offers a  hint of pizazz/fun.  

 What is your opinion is this brand bland or just right?  

Branding Moment: Is It Time to Bring Your Brand Into the 21st Century?

In crafting a brand, we are adamant about creating a great impression to the right audience. A first impression is what captures someones attention when looking to buy or list in real estate or in any other profession.  Every so often (15-20) years, a brand may need to be refreshed.  

Sometimes, it is a change of fonts, a brightening of colors while maintaining the well known identity. UPS 2003 change gave it that 21st Century look. (We have included a link to their logo history and images).  

Although we think this brand clearly expresses their services, we think they could us a bit of a makeover.  This company is over 15 years old.  At the time those colors were the "in" colors, and we remember the process blue as the "it" color, as well as that "screaming mi mi green" for many new businesses.  We are not suggesting that they change colors, just tone it down, and make their service icons more legible and less artsy, and bring it into the 21st Century. 

Is it time to bring your brand into the 21st Century?

Customer Experience: The Importance of your Most Precious Asset --Human Touch!

Luxury companies this year had a major wake up call, when the majority of complaints from their customers was their CX or what is known in our business as Customer Experience.  The #1 rated company for customer service by Forrester (an independent rating company) was not the usual suspects of Apple, Mercedes, or Nordstroms.  It was Trader Joe's.  

Customer experience is often mistaken for social media extravaganzas.  No one spends more on videos than the big brands.  They often use Hollywood stars, directors, producers, cinematographers and editors.  They hire influencers to blog about their products and pay them handsomely.  They have staffs to post on every conceivable social media outlet, 24/7...

Their websites are constantly optimized by the savviest SEO's know to mankind.  They appear with back links, and keywords in every nation where their goods are sold.  The customer can even create their wish lists, alerts for products, their own mini website etc.. They pay for placement of their products in movies, television, and in books.  They have the biggest and best software for CRM (Customer Relationship Management), which for the most part involves sending their customers emails and sale notifications...

No doubt, those companies are wondering,  after all we do, how dare customers complain about their experience?  In a luxury conference we attended, one of the executives of a big conglomerate of luxury brands mentioned that the most difficult challenge they face is customer experience across the various locations globally.  One of our friends loves one of their brands, but instead of buying it in her home store, she flies to Las Vegas to buy there, because of the personalize superb service she gets there.

How dare you compare us to Trader Joe's?

Trader Joe’s is not a luxury brand.  It is a luxury experience.  For instance, unlike any wine store, if you buy a wine, taste it and don't like it, you can return it for a full refund--no explanations necessary!  That simple gesture has added to their wine and spirits sales so much that the cost of the returned bottle is negligible.  And that applies that to every item in the store. Their human touch is unparalleled.  One of the guys that works there heard us mention that it was our anniversary.  As we checked out, he came over and handed us a big bouquet of flowers, and said Happy Anniversary...

Why focus and spend on customer experience

Exceptional services increases the bottom line and the referrals.  Studies have shown that: 

52% of customers will buy more and pay more because of good customer experience.  Every1$ invested yields $3.

85% will pay up to 25% more to ensure superior service

82% of people have stopped doing business with a company due to bad customer service

85% of customers who have a bad experience want to warn others from doing business with that company

If you are not focused on customer service, the gap between you and your competitor will increase.

The human touch is your most precious asset, use it as much as possible and remember although the Internet is a wonderful addition to our lives, the human touch cannot ever be replaced  by software.