Luxury Real Estate Branding: Dare to Dance to the Beat of a Different Drum

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Personal Branding: Feather Your Clients' Nest with Bespoke (Personalized) Service

August 24, 2010

One of the most important words in the Language of Luxury to include in your vocabulary is “bespoke”. It means tailored, made to order, personalized or custom-made. As a luxury real estate marketing professional adopting a “bespoke mindset” and offering a customized service can go a long way to differentiate you from your competition. Feather your client's nest with bespoke service. This will add another feather in your cap and give your clients a compelling reason to refer you to others.

Nothing defines your personal brand better than your own brand of clothing or your own custom-made perfume. In one of the finest men’s haberdasheries in London, Turnbull & Asser, you can find an entire department of bespoke merchandise. While it is world renowned for its bespoke shirts, a tradition for over 120 years, Turnbull and Asser now sells bespoke belts, boxer shorts, gloves, knitwear, sleep wear, socks, ties, and umbrellas.

Bespoke perfumery is an art but it is also a science. The best perfumers are usually graduates of the prominent International Superior Institute of Perfume, Cosmetics and food Aromas (ISIPCA). Perfumers who are masters of their craft can identify hundreds of smells by nose. They often spend up to one year creating a single personalized bespoke fragrance.

Some bespoke perfume artisans take on just one or two clients per year. Depending on the rarity and availability of the chosen oils and ingredients, the cost can be up to $70,000. It may take up to three or four private consultations to concoct your own signature scent. There is an artisan perfumer in California who can create a bespoke perfume for you by mail for $900.

Bespoke goods benefit not only the customers, who can freely express their individuality, but also the artisan, as they are not constrained by the commercial limitations of mass production. Delivering a customized service in marketing luxury real estate can make you stand out and also offer you a way to express your own creativity.

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Luxury Real Estate Marketing Tip: Cultivate Existing Relationships by Planting "Forget-Me-Nots"

August 23, 2010

Forget-Me-Not Flowers

As a luxury real estate marketing professional, it can take a considerable investment of time, energy and often money to acquire a new client. The key is to keep that client raving about your service long after you have worked with them, to insure a steady flow of referral business. This involves creating a superior client experience in the first place. What does it take to accomplish this? In three words it takes: Client Experience Management.

Do you have a Client Lifecycle Strategy for managing a rich client experience during the transaction and also for retaining your clients? You must have a strategy for being memorable and staying "top-of-mind". Most agents are focused on “farming” their marketplace for new business, which is a good thing. But, to be a true market leader you also need to cultivate new relationship by tending to existing ones and planting perennial “forget-me-nots”.

What do clients want to experience the most in a relationship with you?

1.   They want to feel cared for.
2.   They want to feel remembered.
3.   They want to feel accepted.
4.   They want to feel uplifted.
5.   They want to feel understood.

Here are some more questions that you should ask yourself:

Have I asked them for permission to stay in touch?
How often should you stay in touch with them after the sale?
What are the best methods for staying in touch?
How can I show them that I still care?
How can I continue to contribute to them

Every one of the above questions actually presents a way to differentiate yourself from your competition, to stand out from the crowd. In marketing luxury real estate client retention is of paramount importance. Be sure you come up with answers that are uniquely your own.

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Luxury Real Estate Marketing: The Luxury of Giving Yourself Time

August 20, 2010

Sandyland Beach, Carpinteria

In defining what luxury means, the majority respond with one word: time. Despite the plethora of time saving devices that we all accumulate, we are still time starved. We feel that it is important at least once a day to turn off all those devices, and get away from it all. Our favorite is to take a walk to the beach, our conference room. The walk invigorates us, clears our heads, inspires us, and feeds our souls. What will you do to get away?

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Luxury Real Estate Websites: Heidi Bintz - Vail, Colorado

August 18, 2010

Luxury real estate marketing is a high stakes game. Today's luxury real estate websites must be designed with a rich graphic user interface that immediately engages the senses and holds the visitor's attention. They also need to be designed to offer a high level of satisfaction on multiple devices including those with touch screens--think iPad and Smartphones.

Here is the luxury real estate website case study of Heidi Bintz, Forbes Sotheby's #1 highest volume produce in Vail Colorado: www.VailMountainLifestyle.com.

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Luxury Real Estate Marketing: Command the Competitive Edge—Follow Through!

August 17, 2010

Roger Federer has 16 Grand Slam titles, Photo by Mandj 98

Today, marketing luxury real estate involves a much more expanded scope of activities than ever before. Following through on details is more challenging now, especially with the added arena of social media which can be quite daunting. Yet, to be a champion and command the competitive edge it is imperative that you devise and execute systems that allow you to consistently follow through on all of the luxury real estate marketing fundamentals.

In sports, such as golf, tennis, and baseball, coaches insist that their athletes follow through with their swing. From a logical perspective, it seems odd that one should continue the swing long after the ball has hit the sweet spot of the club, the racket or the bat and sails away. However, it is that follow through on the swing (in empty air) that makes the difference between a great shot and a mediocre one, between a foul ball and a home run.

Have you ever visited a real estate agent’s blog and found that the last time they published a post was several months prior to your visit? This is a major clue! Even if some people do not notice this details there probably are other clues that betray this agent’s lack of follow-through and inattention to detail.

It may be unreturned phone calls, or unanswered emails, or lateness to appointments that demonstrate the absence of a championship mindset. If you are neck-and-neck with your competition, while going after the same listing, it is neglecting these details that can cost you the listing.

Follow-through in marketing luxury real estate may require that you delegate as many details as possible to a trusted assistant so that you can be freed up to do what you love the most. If a championship season is on your horizon, cover all of your bases, consistently follow through and you will be triumphant!

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Luxury Real Estate Marketing Tip: Mind Your Own Elephant

August 16, 2010

Seizing control of what you focus your attention upon, as a luxury real estate marketing professional, is mission critical in a challenging economy. Your personal economy is actually the result of where you place and hold your attention. Those who seek out and consistently focus on the positive opportunities of their marketplace experience an entirely different set of financial results compared to those who “rubberneck”, i.e., continuously fixate on what is going wrong.

Have you ever heard the story about a group of people who are blindfolded and asked to describe a different part of an elephant that they are touching? One reports that it is a spear (while touching the tusk). Another describes a hose (obviously touching the trunk that is spraying water). Each can say that they are touching the same animal but have entirely different experiences, and thus different realities. None are right or wrong in relationship to the others. They are just reporting their experience from their personal vantage point.

What is exciting to know about focus is that you actually have the power to choose where you place your attention. However, if you do not exercise this power the results, by default, will be detrimental to your practice. Rubbernecking is the sure way to bring your luxury real estate marketing practice to a screeching halt.

Have you ever driven in the furthest left lane of a freeway in bumper-to-bumper traffic and noticed up ahead that there were flashing lights of an ambulances and fire trucks on the opposite side of the freeway in the lane closest to you? Why did your side of the freeway come to a complete stop when the accident happened on the other side of the freeway? The people directly in front of you were rubbernecking. There was no traffic jam on your side.

If market leadership is your quest it is imperative that you practice the art of staying focused your own positive outcomes. Mind "your own elephant" and mind your own business. If you find yourself rubbernecking, be sure not reprimand yourself because that prolongs the fixation on the negative. Just do your very best to gently redirect your attention back on track. After consistent deliberate practice without self condemnation, your attention will shift. You will stop rubbernecking and start bouncing right back! We commend those of you who have achieved this important feat, those of you who have triumphed over your personal economy.

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Luxury Real Estate Marketing: Of Psychographics & Honey

August 11, 2010

Is it possible to roll back the hands of time? This is one of the most pressing questions on the minds of baby boomers who are entering their highest spending years en masse. It is the keystone of this generation’s psycho graphics or mindset. When marketing luxury real estate you can actually accelerate the sales process by speaking to this perennial need. This is done by expressing the features and benefits of the local lifestyle of your marketplace as means of rejuvenating the spirit.

To learn the vernacular of rejuvenation study how the major cosmetic companies compose their marketing messages. It seems that each of them is trying to outdo their competition by coming out with face serums, moisture creams and other ablutions that can smooth away wrinkles and erase the ravages of time. Take heed! With billions of dollars at stake, pitching these costly lotions and potions is luxury marketing at its best.

We have covered several top cosmetic companies each of whom is trying to best their competition. One company is focusing on this endeavor more so than others. After exclaiming that the answer to the fountain of youth lies in orchids the key ingredient in their age-reversal creams, Guerlain, has yet another breakthrough. Their latest anti-aging system is an oil-in-water emulsion called Abeille Royale Youth Serum. Abeille, pronounce “ah bay” means bee in French.

Based on honey, the serum is absorbed quickly, has a velvety-soft texture, helps heal skin and repairs wrinkles. Dr.Fredric Bonte, the Director of Guerlain Research, stated that this new product is made from pure Ouessant honey and royal jelly which is produced by the Black Bee. This insect is found on an island off the coast of French Brittany, a pollution and parasite free environment which ensures the highest quality.

In your luxury real estate marketing practice, learn the language that speaks to your target market. That is the language of luxury.

Personal Branding: Think Iconic-Achieve Top-of-Mind Status

August 10, 2010

Madonna

Eva Perón

Personal branding for luxury real estate marketing professionals is much more than getting a new “look”. In the realm of market leadership it involves achieving top-of-mind status not only with potential clients but with anyone who could be a potential referral source for you. To understand the territory of the mind where brands reside it is helpful to consider the concept of “icons”.

An icon is an object of uncritical devotion by admirers. When you think of the word iconic which entertainers, politicians or companies come to mind?

In the music industry you may think of Frank Sinatra, Elvis Presley, the Beatles, the Stones and Madonna. In politics, John F. Kennedy may come to mind. In business, Disney and Apple are certainly iconic companies.

In real estate, certain buildings have become iconic such as the Chrysler Building in New York. The Taj Mahal in India, a mausoleum, is an icon for the entire country.

When Madonna performed Like a Virgin on the MTV Video Music Awards TV show it was considered an iconic performance in MTV history. Much controversy ensued but Madonna could do no wrong among her devoted fans. It was no wonder that she wanted desperately to play the role of Eva Perón in the film version of Evita. When the Beatles performed on the Ed Sullivan show in the 60’s it was iconic moment that signaled the “British Invasion” in pop music.

If market leadership is your quest, it is not necessary to become a local iconi or a living legend. But, understanding the concept of achieving top-of-mind status is essential to this pursuit.

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Luxury Real Estate Marketing: Romancing Your Marketplace

August 9, 2010

As a luxury real estate marketing professionals you can steadily increase readership of your blog by expressing your personal views about what it is like to live and play in your area, your local marketplace. Expressing your voice, your viewpoint is what will make your blog interesting and will attract your readers to do business with you. People like doing business with people like themselves. It is, therefore, important to express your personal point of view so other with the same values can identify with you. We call this “romancing your marketplace”. Here is an example.

One of our favorite attractions here in Santa Barbara County is the Carpinteria Salt Marsh Nature Park. The park encompasses 110 acres of prime ocean front land, and is reserved as a sanctuary for rare and endangered plants, birds and wildlife. It is located within a few blocks from our home. The trails of the salt marsh, that we love exploring, meander through the estuaries that lead to the beach.

Chaparral Mallow

This Sunday, as we walked to the beach, we saw a blue heron preening his feathers, a snow white egret fishing on the banks of the waterway, a couple of cottontail bunnies hopping along our trail, and a family of mallards gliding on the water. One of the paths was bordered with a riot of pinkish purple blooms on silvery bushes called chaparral mallows, which are native to the California seaside. On Saturday mornings, there are docents present for those who like guided tours.

The reason potential clients and referral sources follow your blog is because it speaks to their interests and values. The connection and often the referral happens when they find out that you love wildlife, nature walks or the environment too, not necessarily when you tell them about the latest real estate statistics.

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Personal Branding: Does It Work to Use Your Name as Your Personal Brand?

August 4, 2010

Using your own name as your personal brand name can be tricky in luxury real estate marketing. It may work well to help you sustain a “top-of-mind” position among sellers, if you already have achieved celebrity status in your marketplace. But, buyers, particularly those from out of your marketplace, cannot differentiate one agent from another, especially if your website does not stand out as unique.

To grasp the significance of how using your name as your personal brand plays out in the minds of consumers here is an example in the realm of celebrity perfumes.

Last month Harrods department store in London was the “launching pad” for Jennifer Aniston’s new perfume. The brand name of the perfume is Jennifer Aniston. It was supposed to be called Lolavie which means “laugh at life”. Now, that would have been an excellent brand name because Ms. Aniston is most famous for her role in Friends, a situation comedy on television and also for her romantic comedies on screen. But, the name was changed at the last minute because another brand would have been too easily confused with her new product. Expediency won out and the perfume now has the celebrity’s own personal brand name.

So, here is the big question for the ladies: Would you buy a perfume with another woman’s name? Elizabeth Taylor has her own perfume line. But, the main brand names are White Diamonds and Passion. Gentlemen, would you buy Lebron James cologne? Certainly, if you identify with this celebrity, a better brand name would be King James. Imagine your wife or girlfriend asking you what scent you are wearing and you answer, “LeBron James”.

If you already have an established website with your name as your domain it may be wise to keep it because starting over with a different domain name may upset your current ranking with Google. Keep the domain but create a new brand name for your blog and play up the blog brand. However, if your current website does not rank well you are better off to begin anew with a new domain name and a brand that people can easily remember.

Luxetera, Etcetera: Celebrating Fiesta, Santa Barbara Style

August 3, 2010

The Santa Barbara Mission

Luxury real estate marketing is all about romancing your marketplace. This week in Santa Barbara is our annual Fiesta known as “Old Spanish Days”. Each community has their special events, and an opportunity for involvement. This five day event begins at the Santa Barbara Mission, the tenth California mission established by the Spanish Franciscan monks.

The original celebration began in 1924 for the purpose of commemorating and appreciating the history, customs, and traditions of the Santa Barbara cultural legacy. Through the years, it has been an opportunity to enjoy the culture of the American Indian, Spanish, Mexican, and the early Western settlers.

The Santa Barbara Fiesta draws thousands of visitors from all over the world. Performers are from various part of the United States and also from s Mexico. Historically, celebrities such as Will Rogers, Shirley Temple, Delores del Rio, William Randolph Hearst, and Charles Lindberg have participated in the festivities. Parades, food, music, and rodeos, are just some of the highlights of this exciting home town party.

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Luxury Real Estate Marketing Tip: Harness the Power of WOW in Your Marketing!

August 2, 2010

What if your closing gift could perpetually keep you “top-of-mind”, and create a buzz about you or your company for years after your clients take possession of the property? If you have clients, in your luxury real estate marketing practice, who are passionate about the environment, here is a buzz marketing idea for you.

Buzz marketing is creating a remarkable story about you or your company that others feel compelled to pass along to their friends, co-workers and family. Great buzz attracts the media who is hungry for buzz-worthy stories. Online, buzz is like a virus that spreads exponentially as others share your story with a click of their mouse (or the touch of their screen). Offline, buzz is at the core of word-of –mouth advertising. When you harness the power of WOW! you can trigger a chain reaction and unleash the driving force of buzz!

Recently, we met with Steve Cushman, the CEO of the Santa Barbara Chamber of Commerce. He offered us a glass of cold purified water from a device that looked like a typical office water cooler, but without a bottle of water on top and no direct waterline. The appliance, called DewPointe, is an atmospheric water generator that converts moisture in the air, an abundant inexhaustible resource, into as much as 8.4 gallons of filtered water per day. Now, that is a WOW!

The DewPointe appliance was a gift to the Chamber by the Chamber member in San Luis Obispo who sells the appliance. It is a gift that keeps giving. The buzz about the DewPointe in the Chamber office is a return on investment that keeps paying off.

Imagine the buzz you could create if you gave your client the DewPointe as a closing gift. Alternatively, you could attach a plaque with your company name and phone number on it and donate the appliance to a school, a service organization, to your church or temple.

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Luxury Real Estate Branding: Maintaining Your Sterling Reputation

July 28, 2010

Managing your personal or company luxury brand, that is, managing how you are perceived by your target market over time, is mission critical. You can certainly elevate your game as a luxury real estate marketing professional by studying how the market leaders in luxury consumer brands manage or mismanage their brands. The Art of Shaving is one luxury brand that has recently made a major branding mistake, in our opinion, and has tarnished their otherwise sterling reputation.

When you think of men’s shaving, what it the first brand of disposable razor that comes to mind? Gillette is by far the market leader in this category. Their most expensive, top of the line model, the Fusion, has five blades in a single cartridge and promises the smoothest possible shave. Top of the Gillette line of disposable razors will never constitute a luxury brand because Gillette is not perceived as a luxury brand.

The Lexus is perceived as a luxury brand on par with Mercedes Benz and BMW in the minds of many consumers. Did you know that Lexus is made by Toyota? They did not call their top of the line car the “Toyota Lexus”. Instead they created a separate brand name for this relatively expensive luxury car.

Recently, we were strolling through Century City Shopping Center in Los Angeles. There we found a store called the Art of Shaving. The Art of Shaving products are the best selling men’s brand in upscale department stores. It is clearly a luxury brand based on its extensive product line including a sterling silver razor and shaving soap brush that sell for hundreds of dollars.

We were stunned to see a huge photo of the Gillette Fusion in their store window. Why were they diluting this luxury brand by aligning with Gillette? Later in Nordstroms, here in Santa Barbara, we noticed that a new package of the Art of Shaving products had a Fusion razor right on the outside of the box. You could not see the other products in the box. What were they thinking? This completely reduced the Art of Shaving to the level of a non-exclusive brand. You can buy the Fusion along with the entire Gillette line of cheaper razors in any discount drug store.

With some research we discovered that Proctor & Gamble purchased both Gillette and The Art of Shaving. The intent was obviously to use The Art of Shaving to create a perception of “class” for the razor. Instead, The Art of Shaving was rendered déclassé--reduced to having a lower class in the minds of its target market.

Managing your personal or company brand is primarily about managing perception in the realm of luxury real estate marketing. If you also want to sell properties in the lower price range you may want to consider creating a separate sub-brand so that you do not confuse your target market in both categories.

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Luxury Real Estate Marketing Tip: Luxury is a Pink Jellyfish

July 27, 2010

It is truly important, as a luxury real estate marketing professional to examine and re-examine the meaning of luxury itself. Like beauty, luxury is in the eyes of the beholder. What we so often take for granted is the abundance of free experiences available to us, especially via the internet, experiences that are true luxuries. The wealth of free information that is literally at our fingertips is astonishing.

For example, some many consider it a luxury to visit the Monterey Bay Aquarium in Monterey Bay, California. The cost is $29.95 for adults and 17.95 for children (3-18). Students get a slight discount. Of course, there is the cost of getting there, if you do not live close by.

But, you can “visit” the aquarium for free via several live web cams (cameras) whenever you wish. There is a kelp cam, a penguin cam, an outer cam and a wading bird com that features pink flamingos. Did you know that flamingos are only as pink as the food they eat or that penguins “fly” under water faster than some fish?

The Monterey Bay Aquarium was the first aquarium to rescue a great white shark. They were able to keep it in captivity for 175 days until it became too dangerous for the other fish there. You can learn all about this on their website and watch videos about the shark on their You Tube channel.

Nature, the TV channel, produced a special presentation documentary on the aquarium featuring the great white shark and jellyfish. The aquarium has one the most extensive jellyfish collections in the world. They actually breed these exquisite creatures to populate the ongoing exhibit.

Take the time to ponder what luxury means to you. Ask your clients as well. You may be surprised to find that many high net worth individuals consider life’s simple pleasures to be among their most cherished forms of luxury.

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Luxury Real Estate Marketing: Visionary Thinking at Dom Perignon

July 26, 2010

One of the most common traits of a market leader who is interested in sustaining dominance in his or her marketplace and also building a lasting personal brand, is visionary thinking. For those of you luxury real estate marketing professionals with this ambition it is wise to look to luxury brands that have stood the test of time and emulate the standards and the value that these brands embrace. Dom Perignon champagne is brand to emulate.

Dom Pérignon is part of LVMH (Moët Hennessy • Louis Vuitton S.A.) family of brands, one of the world’s largest luxury goods conglomerates. Dom is a vintage champagne. This means that the champagne is not produced in weak years, and all grapes used to make the wine were harvested in the same year.

When we lived in Napa Valley, we had the good fortune to sit next to chef de cave (head winemaker) of Dom Pérignon who happened to be dining alone. We struck up a delightful conversation throughout our meal.

What was most impressive about his Dom Pérignon stories was the fact that if the grapes are not perfect in a given year they simply will not produce the wine. In the 80 years between 1921 and 2002 for example, Dom Pérignon champagne has been produced in only 36 years. Three vintage years in a row are a rarity. This phenomenon only occurred two times: in 1969, 1970 and 1971, in 1998, 1999 and 2000.

CREATE THE “BEST WINE IN THE WORLD”, Pierre Pérignon, 1668.

In 1668, the young monk took up his post as the head of the cellar at the Abbey of Hautvillers . Over three centuries later, Dom Pérignon is the ultimate homage to this visionary spirit and to the founding work of the man who is considered the creator of champagne.

For fun, here some facts about this fabulous champagne:

In 1961, Dom Pérignon Vintage 1949 was on the menu for the dinner given at the US Embassy in Paris for Charles de Gaulle and John F. Kennedy during the American president’s official visit.
In 1981, Dom Pérignon was chosen for the wedding of Lady Diana Spencer and Prince Charles. The magnums of Dom Pérignon Vintage 1961 served at the wedding had a special insignia created just for the ceremony.
Today, Costo sells more Dom Pérignon than any other retailer in the world.

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Luxury Real Estate Marketing: Face Time for Business Development

July 21, 2010

While it is true that your social life can and should lead to business referrals, it is a good idea for luxury real estate marketing professionals to separate the concept of business networking and social networking. Business networking can actually increase your bottom line faster because of its focused nature and clear intention: helping one another develop more business. What can be more clear, simple and, most importantly, direct?

Last night, while on Linked In we noticed a profile of a CEO of a company on the east coast (we are in Santa Barbara, CA) with whom we shared common interests. There was immediate recognition of potential synergies between our companies. We are in a professional group together but we had not yet met. So, we invited him to also join the Language of Luxury group on Linked In. Within minutes we noticed that he had joined LOL.

By the time we woke up this morning we received a direct email from him suggesting that we connect. He too, believed that there were possible ways to develop some business together which we confirmed in a wonderful phone conversation this A.M. Yes, we just used the “P” word!

Phones are the missing link in online networking. In fact, the entire purpose of business networking online is to set up a phone conversation. Between Skype, which is free, and smart phones with ridiculously low monthly fees (as compared to the cost of long distance calls in previous decades), there is absolutely no excuse for not picking up the phone. Now, you can actually have an instant face-to-face meeting (e.g., with Skype video or iPhone 4 “face time”).

Business networking, online facilitates WARM PHONE CALLS! And, that is what most luxury real estate marketing professionals have lost sight of in this hurricane of white noise about social networking.

This very same morning, Alexandra noticed that an interesting company just started following us on Twitter. She always looks up each of our followers’ profiles to see if there is a commonality and a reason to connect by phone. In this case, there was, indeed, potential for mutual business. So, Alexandra shot off a email and suggested that we connect directly.

Within 5minutes we got a phone call from the director of business development from this company! [Rapid response communication is one of our most highly valued business practices]. We had an excellent conversation and set up a phone meeting with the CEO of the company for Friday ( 2 days later).

Can you see the difference in the speed of concrete results between social networking and business networking online? The key to successful business networking interactions is having it be equally important to give as it is to receive. Sometimes there is only giving on your part. But, it all balances out if you keep an abundant mindset, which is worth acquiring and maintaining in the field of luxury real estate marketing.

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Luxury Real Estate Marketing Tip: Study the Pursuits of High Net Worth Clients

July 20, 2010

Studying the pursuits of your clients is extremely important to your success as a luxury real estate marketing professional. Although this may not apply to all of your clients or to all luxury real estate markets, the quest to possess the finest and the rarest objects in the world is definitely one of the exciting sports of high net worth individuals.

For those of you and your clients who fancy fine champagne, here is some interesting news. A group of divers exploring a ship wreck in the Baltic Sea happened upon a bottle of champagne that is believed to be produced in the late 18^th century. It could very well be the oldest champagne in the world!

The divers were hoping to determine the year the ship sank by dating the champagne. Experts believed that, based on the shape of the bottle, it was made in the late 18^th century. They were 98% certain that it was one of the first vintages of Veuve-Clicquot that was established in 1772.

Remarkably, when the bottle was opened, it was drinkable and retained its very small bubbles. It was suggested that the vessel was most likely on its way to St. Petersburg, which was then the capital of Tsarist Russia.

Researching those subjects that interest your clients the most and then speaking their language can make the difference between getting the listing or not. Knowledge is not just power. It can translate into gold.

Speaking of gold, you may also be interested that a white gold covered 3 liter bottle, a jeroboam, of Dom Perignon sold for $17,000 in 2008. At the time, it was the most expensive bottle of champagne in the world.

Dive deeper into the pursuits of your high net worth clients. This is a requirement for those of you who seek to achieve top-of-mind status in your luxury real estate marketplace.

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Luxury Real Estate Marketing: Shoot for the Moon!

July 19, 2010

As a luxury real estate marketing professionals studying examples of niche marketing done right in the luxury realm can give you tremendous insight on how to position yourself and stand out from your competition. Luxury books are a case in point.

Amazon popularized the relatively new niche category of e-books. They announced that its Kindle e-bookstore is now selling 180 e-books for every 100 hardcover books. The sale of Kindle devices have tripled since it lowered the price, despite the competition from multifunctional devices such as the iPad. Is there any wonder why most niche book stores, such as those that specialize in selling architectural or design books have become extinct?

However, a handful of luxury book publishers are thriving by selling limited, innovative editions, for thousands of dollars. Taschen Books, with exclusive brick and mortar stores in upscale cities like Beverly Hills, London and Paris, has tapped into a very narrow, but lucrative, niche. Twelve copies of their massive photography book on the lunar landing were sold with actual pieces of the moon. One such edition that came with a lunar rock was sold for $112,500, according to the Wall Street Journal.

Although, these extravagant showcase books are beyond the reach of most consumers they create a tremendous amount of buzz for Taschen and help sell less expensive premium edition books. For example, a $7500 book on Muhammad Ali is sold with several signed photographs of the boxer.

Shoot for the moon! Express your personal flair. Use your imagination to out-think your competition. Zero in on a niche and become well known within your marketplace as the best in that niche. This is the way to market leadership!

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Luxury Real Estate Marketing: Follow That Poodle!

July 15, 2010

As a luxury marketing professional one of the great ways to promote your marketplace is to report on the local festivities. For example, we are planning to go to the Annual French Festival in Santa Barbara, Saturday and Sunday, July 17 & 18 (Bastille Day Weekend), from 11 a.m. to 7 p.m. in Santa Barbara's Oak Park. This is the 23rd annual event, and they are expecting over 20,000 people to attend. Admission is Free.

Some of the highlights include, a poodle parade, French chefs preparing typical French delicacies both savory and sweet. French beer and wines as well as champagne will be available. Also, former French colonies will be represented such as Vietnam (French Indochina) as well as Morocco and French Polynesia.

Forty acts on three stages will feature continuous entertainment of music, dancing (can-can), as well as cabaret style (Edith Piaf) to name a few. If you love anything French, it is a great opportunity to meet people, join a French speaking club, and learn about interesting trips to France. There will be a drawing to win a trip to Paris or Tahiti.

Another way to promote YOU is to be a sponsor for one of these events. The sponsors are always promoted and appreciated by the organizers who have large spheres of influence and may become your ardent referral sources. Or, you could always volunteer to help at the event.

So, follow that poodle and get involved in local community events. It is fun and also good for your luxury real estate marketing practice.

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