Luxury Real Estate Marketing Tip: Escape the Tyranny of Status Quo

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Marketing Luxury Real Estate: The Pursuit of Personal Mastery

December 1, 2010

Courtesy of Tom Collins - Wine Country Master Potter -Napa Valley, CA

Have you ever contemplated becoming a master at marketing luxury real estate? This is what every market leader in every luxury marketplace has pondered before actualizing this attainment. What is the standard for mastery? Is it consistently out-producing the closest competitor? Or, is it the consistent demonstration of artfully matching buyers and sellers and satisfying their express needs? However you measure the success of a master in your field, it ultimately comes down to the personal satisfaction of reaching your own self-defined standards.

Andre Agassi has won every major tennis tournament in the world. By all outward standards he is a true master of the game. Yet, he admits that he hates tennis because it was not his goal to become be a superstar. Rather, he was pleasing others in his pursuit of becoming a champion.

When mastery is viewed as an inner game, one that involves the quest of your personal passion, it takes on an entirely different meaning. From this perspective, success is measured only by your own standards of excellence regardless of the criticism or praise that is bestowed upon you by others. The real reward of mastery is the self-satisfaction that comes from actualizing your own self-determined values.

Much can be gleaned about the process of mastery by observing masters at work and also by viewing their masterpieces. We were privileged to study with the Wine Country master potter, Tom Collins, when we lived in the area. It was one of the most gratifying experiences of our life. We consider the ownership of some of Tom’s pieces to be among our most cherished possessions.

Pottery is both an art form and utilitarian objects. When we serve pasta we usually serve it in a bowl that either Tom has crafted or we made under his tutelage. When not using these objects they are on display for us to enjoy as art.

Tom recently sent us this photo (above) of one of his latest works which we consider to be one of his masterpieces. We have seen dozens of his pieces. Yet, the glazing of this one in particular is, in our opinion, truly outstanding. This piece is on display at the prestigious Beatrice Woods Center of the Arts in Ojai, California.

To play the inner game of marketing luxury real estate, find a niche within your marketplace that you can pursue with passion and set your own standards of excellence. Derive satisfaction not from the praise of others, but from yourself as you incrementally become masterful at what you do. When others shower you with accolades, accept them graciously. But, consider them to be confirmations of what you already know about yourself.

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Luxury Real Estate Marketing: Is the Description of Your Marketplace Compelling?

November 30, 2010

Antebellum Mansion Detail

By Alexandra Seigel

How do you describe your marketplace? Does it make your web visitors feel compelled to move there? As a luxury real estate marketing professional you need to move people emotionally, make them fall in love with your area, before you help them make the physical move. Second home or multiple home buyers have choices of where to buy. Your first sale is selling your marketplace. If you do a good job of it you will sell YOU in the process.

Ron and I finished reading a wonderful book by one of our favority authors, Pat Conroy. You may remember his earlier novels, The Great Santini and The Prince of Tides, both of which were made into movies. After a 14 year hiatus, his new novel is South on Broad.

Set in Charleston, South Carolina, it is a must read for uxury real estate marketing professional looking to improve the description of their marketplace. By the first page, we felt the urge to visit, and it took all of 3 sentences to do it. Throughout the book, the feel of the city, the antebellum mansions, and the description of the gardens make you want to book a flight to Charleston.

The story itself is well written and riveting. Neither one of us could stop reading it. It made us think, reflect, and laugh, and we could not wait to tell you about it. If you are not a reader, give it as gift to someone who loves a good story!

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Language of Luxury: Iconoclast Series - Lessons from Glee

November 29, 2010

An iconoclast is a person who challenges conventional wisdom and traditional beliefs, and often shatters the very foundations upon which traditional, institutions rest.

When was the last time you tried a different marketing formula? Experimentation is vital to sustaining market leadership as a luxury real estate marketing professional. Studying market leaders outside of the realm of marketing luxury real estate can offer excellent clues for success. It can embolden you try new things that make you stand out from the crowd and think like an iconoclast.

Take Glee, the hit TV show that has “pushed the edge of the envelope” beyond conventional programming. In this sense Glee is an iconoclast. The team that works on the arrangements of the musical numbers in the show is constantly challenging the iconic versions of songs that are now deeply rooted in mass consciousness. At times, they give familiar songs entirely new meaning within the context of the story line.

For example, the first Beatles smash hit in the USA was I Want to Hold Your Hand. It sent tan entire generation of eenage girls and boys into a frenzy of excitement as it ushered in a new era of rock and roll. On an episode of Glee a boy’s father was in a coma and it was uncertain whether he would live. The boy sang a very slow version of the Beatles’ classic tune as flashback images of this father and son (as a very young boy) held hands at his mother’s funeral.There was more deep emotion in this poignant moment in the show than most fathers and sons ever allow themselves to experience on Father’s Day.

Sometimes the Glee music production team creates numbers that encompass songs which consist entirely of parts of other songs. A “mashup” as it called, was created by combining the iconic song sung by Gene Kelley in 1952, Singing in the Rain with a 2007 hit by Rihanna, Umbrella. The guest star on the show was Academy Award winner, Gwyneth Paltrow, who is hardly known for her singing talents. The result was nothing less than brilliant!

We applaud Glee for taking the risk of challenging conventional thinking on many levels. Iconoclastic thinkers are an inspiration for those who seek to unabashedly pursue market leadership in any field.

How can you stand out by out-thinking your competition in your luxury real estate marketplace?

Marketing Luxury Real Estate: 2011 is the Time to Break All the Rules Series

November 29, 2010

To be a true standout in your marketplace, as a luxury real estate marketing professional, think like a trail blazing iconoclast. The dictionary defines an iconoclast as somebody who challenges or overturns traditional beliefs, customs and values. To get into the iconoclastic mindset, check out the TV series, Iconoclasts on the Sundance Channel. Robert Redford, executive producer of the series, explains: “Iconoclasts explores the intersection where two great talents meet, and where creativity comes alive.” (The series is no longer produced, it can be found on the Sundance Channel in reruns.)

Each segment pairs two iconoclastic individuals who are great examples of a one man or a one woman brand, yet dissimilar in their life’s work. It then explores their views and their ideals. Each individual has blazed a path and has explored the leading edge in their personal inimitable fashion and passion. They have expressed their authentic selves. Each has strayed from the comfort of the normal and the average. They have each fearlessly opened doors that were considered taboo. They have stayed true to their own ideals regardless of the consequences.

One of the earlier episodes paired Norman Lear and Howard Schultz. Norman Lear is best known for his 1971 production of All in the Family, a comedic sitcom exploring bigotry and race, which according to the experts was doomed to fail. Howard Schultz is the CEO of Starbucks, and he recounted his efforts to raise money to fund Starbucks and how everyone told him, he would fail because he wanted all of his employees, including the part timers, to get have health insurance and stock ownership in the company.

In our series, we will highlight iconoclasts from all walks of life. It confirms that all is very well with our world as long as there are iconoclasts to blaze new trails. Are you an iconoclast?

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Happy Thanksgiving 2010!

November 23, 2010

WE WISH YOU A WONDERFUL THANKSGIVING

ENJOY THE HOLIDAY!

~ RON & ALEXANDRA SEIGEL, LOL COMMUNITY FOUNDERS

Language of Luxury: Iconoclast Series - 2011 is the Time to Break All the Rules

November 22, 2010

This is the first of a series on Iconoclasts and Iconoclastic Thinking. 2011 is the time to break all the rules!

To become a market leader as a luxury real estate marketing professional, you do not have to be an iconoclast. But, to sustain market leadership in 2011 and beyond, it is a must. An iconoclast is a person who challenges conventional wisdom and traditional beliefs, and often shatters the very foundations upon which traditional, institutions rest.

In his book, Iconoclast: A Neuroscientist Reveals How to Think Differently, Gregory Berns profiles such independent thinkers as investor Warren Buffet, glass sculptor, Dale Chihuly, Apple’s Steve Jobs and Picasso. As a professor of both psychology and economics Berne focuses primarily on successful iconoclasts. He identifies three major “mental roadblocks to innovative, iconoclastic thinking:

1. Perception and visual imagery—seeing opportunities that others do not see

2. Fear of failure and ridicule—becoming an non-conformist

3. Social skills, social intelligence – excelling at social networking

A company can be iconoclastic but you will most likely find a visionary, unconventional thinker at its helm. Cirque du Soleil, the iconoclastic Canadian company, challenged one of the great American icons, Ringling Brothers Barnum and Bailey’s three ring circus.

The founders of “Cirque” did away with the expensive animal acts, musicians, the highly paid circus stars, such as the trapeze artists and created an entertainment venue to which you did not necessarily have to invite children. In the process, they created a multi-billion dollar industry that dominates the world of entertainment in Las Vegas.

Essentially, Cirque identified an uncontested market niche that they could “own” and delivered extraordinary added value. That is the formula for market leadership. With multiple shows running simultaneously, not only in Vegas but, throughout the world, Cirque runs circles around its only viable competitor. They literally rendered the three ring circus, irrelevant, not to mention the notion of "the greatest show on earth".

How can you explore the realm of iconoclastic thinking in your luxury real estate marketing practice? To sustain market leadership innovative thinking is no longer an option it is an imperative. In fact, it is not enough to just be an innovative thinker. You must become an innovative doer.

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Luxury Real Estate Marketing: The Importance of Shifting Paradigms

November 17, 2010

As a luxury real estate marketing professional who works with foreign buyers, it is important to appreciate cultural differences. Have you ever been in a situation when you thought you were “on the same page” with your client, only to discover that you were actually a world apart? You were looking at and talking about the exact same set of facts, but you both were aligned to a different model of thinking or paradigm that yielded alternative meanings. To bridge the gap in understanding the only answer is a paradigm shift.

It can be an astonishing revelation to discover that other people do not see things in the same way you do and can still be right. The ability to shift paradigms can help you to understand more people and avoid arguments that seem unsolvable. It can also help you to become a better negotiator and more innovative, especially if your competition is prone to being entrenched in the status quo.

Try this experiment:

Look at the wooden boxes in the image above.
Focus on the darker brown square.
Does the dark square appear to be on the right side of the boxes facing right?
Or, does the dark square appear to be on the top surface with the boxes facing left?
Can you switch back and forth by softening your focus?

Shifting paradigms takes practice. But, the rewards are immeasurable. You literally need to think “outside of the box” using this example, to shift your thinking.

The next time you are speaking with someone who sees exactly the same set of facts that you are looking at but is coming up with a completely different interpretation, think of these boxes. Two sides of an argument really can be right sometimes. Take the time to loosen your grip on your fixed way of viewing things and try to see things their way. Your perspective will always be there again when you come back. It doesn’t mean you have to take actions that go against your grain. At the very least your life will become richer because you have learned a “new language” of perception.

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Luxury Real Estate Marketing: Strategy versus Tactics

November 16, 2010

If market leadership is your quest, as a luxury real estate marketing professional it is extremely important to understand the difference between strategy and tactics. Strategy is the overarching plan to out-think the top producing competitors in your marketplace or niche. Tactics are the specific methods you use to execute your strategy or to generate more business in general.

The primary purpose of a strategy is to win top-of-mind status in a category of business or a niche within the category. Studies show that consumers can only hold three companies, service professionals or products in their minds (on average) in any given category or sub-category. Therefore, the battle for mindshare and the resulting market share really only applies to those who desire to be one of the top three contenders in any given category. That is why marketing strategies are only for those who are interested in gaining or sustaining market leadership.

Tactics for generating more business without a strategy for securing market leadership in some category can only yield mediocre results. That is because the top three contenders are targeting the lion’s share of the business and winning over the mind’s of the consumers, while all others are fighting over the crumbs. In the unabashed pursuit of market leadership the stakes are always very high and so is the level of gamesmanship, the tactics required to conquer the category.

Facebook recently announced a messaging service combined with email that could rival Hotmail (Microsoft) and Gmail (Google). According to comScore, Microsoft is currently the largest provider, with 362 million unique email visitors in September, followed by Yahoo with 273 million. But Google's Gmail is growing fast, with 193 million unique visitors in September. When Facebook launches world-wide in the coming weeks, more than 500 million users of Facebook will have access to the new messaging service.

Facebook took a look at the category of web-based email and recognized an “unfair” competitive advantage. A strategy was born to compete with the top three contenders in the category and dismiss one from the top tier. They already have all or most of your contacts in their/your “address book”. Free email like these services represent both an opportunity to promote and grow the company leveraging viral marketing as you and your friends communicate with each other. It also represents a tremendous opportunity to generate advertising revenue. The stakes are extremely high.

Facebook also learned that the younger generation, in particular, does not have the patience for email and prefers instant messaging which represents two major strength of the company (younger users and IM). The platform will be primarily used for instant messaging.

If you do not want to settle for the battle of the crumbs, as a luxury real estate marketing professional, you must identify an uncontested market niche that you can dominate. Seek out opportunities that you can win, niches that you can serve better than any other competitor in your marketplace.

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Luxury Real Estate Marketing: The Luxury of Magnificence

November 15, 2010

Shamanka Rock, Lake BaiKal, Siberia

As a luxury real estate marketing professional it is important to understand the subtle nuances in the meaning of luxury itself. Luxury can mean lavishness, creature comforts, sumptuousness, opulence and extravagance. Yet, it can also be the appreciation of the simplest things in life like a beautiful sunset that requires only the time to observe and enjoy it. This is the luxury of magnificence.

Some of the most magnificent luxuries on our planet include mountains, oceans, seas, rivers, lakes, forests and deserts. One lake contains more than 20% of the world's fresh water supply. Lake Baikal, in Siberia, (also known as the "sacred sea") is the oldest and deepest lake in the world. It measures 400 miles long and 5700 feet deep in the center. It holds more water than all of the Great Lakes combined.

One can clearly see a depth of 75 feet from the surface. Because of the high level of oxygenation, the lake is teaming with fish and organisms even at the bottom. Baikal is home to more than 1,700 species of plants and animals, two thirds of which can be found nowhere else in the world. Some of the species have yet to be identified or categorized. New breakthroughs are continuously discovered there. For example, scientists are testing fresh water sponges from Lake Baikal which may be capable of curing certain cancers.

Our excitement about Lake Baikal was ignited by the story of a marine biologist, Marina Rikhvanova, who succeeded in having an oil pipeline moved two miles away from the lake. Had the government's plan succeeded, a single oil spill could have polluted the lake in 20 minutes. Traveler's magazine gave her the World Saver's Environmental Award.

In Japan people of great talent and artistry are honored as national treasures. As we see it, Marina is a global treasure. Seek out the richness and generosity of spirit in the people around you and you will find a vast and deep reservoir of luxury.

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Luxury Real Estate Marketing: Salts of the Earth

November 10, 2010

If you are considering a house warming gift for the holidays, and you are invited by those who fancy themselves to be gourmets, here is a relatively inexpensive but thoughtful idea for you: Gourmet Salt! Understanding the varieties of gourmet salts can also give you social currency, as a luxury real estate marketing professional, among those in the know on this topic.

One of the latest gourmet treats is to finish a dish with a particular type of salt. For instance, Fleur de Sel, a French salt is gathered with a special rake to harvest only the top layer of the salt bed. This work is usually done by women because of their delicate handling of the rake. The name "Fleur de Sel" comes from the aroma of violets that develops as the salt is dried. Fleur de Sel is recommended when baking chocolate cake to enhance its taste.

The list of gourmet salts is quite extensive. Peruvian pink salt is the one for that beefsteak tomato you just picked from your garden. Nazuna sea salt, from Japan, transforms the taste of fish and seafood. Hawaiian pink salt is great for grilling your meats.

The fascination with salt is not a new one. Until the 1900s, salt was considered a currency. Salt was often taxed, and some clever bakers (the Italians) figured out how to make bread without salt, so they would not be taxed. The Romans paid part of their soldiers‚ wages in salt. The word "SALARY" is derived from the Latin word "salarium" meaning a payment made in salt. The 12th century Mali Empire in Africa valued salt so much that paid for its weight in gold.

Salt is also used for bathing. For instance, salts from the Dead Sea, the second saltiest body of water in the world, were used by Cleopatra for bathing. She paid for and obtained exclusive rights over the Dead Sea area, so she could continue her beauty regimen. She also built pharmaceutical and cosmetic factories near the Dead Sea. The ruins of these factories remain to this day.

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Luxury Real Estate Marketing: Sustainable Living - A New Standard of Luxury

November 9, 2010

Female Eider Duck and her Chicks

To become an expert luxury real estate marketing professional it is very important to know your luxury buyer’s mindset. Not all luxury buyers are conspicuous consumers or jet setters. In the quest for the best, sustainable living and caring for the environment have increasingly becoming mainstream priority values.

Identifying your buyers’ priority values and amplifying them in your selection and presentation of properties allows you to connect with your clients on a very deep emotional level, the level where most buying decisions are made. Taking these factors into account can accelerate the pace at which you build a trusting relationship. It lets your clients know that you care about what is important to them.

Sustainable living is all about aiming for a lifestyle that can be sustained without exhausting natural resources. It is a new standard of luxury and it is reflected in consumers’ choices of goods and services. It applies to individuals as well as communities.

Do You Know What the Best Duvets in the World Are Make Of?

Vega Archipelago in Norway is a beacon of sustainable living due to a partnership between human being and nature. According to UNESCO’s World Heritage List, these islands are representative of “the way generations of fisherman and farmers have, over the last 1500 years, maintained a sustainable living in an inhospitable seascape near the Arctic Circle, based on the now unique practice of eider down harvesting.”

Each year, during the nesting season, the inhabitants of the main island, Vega, move to the smaller islands to build eider houses for the eider ducks. They use old boats, driftwood and bricks to build a safe environment for the birds’ nests. Eiders are the source of eiderdown, feathers that the female plucks from her chest to line the nest and insulate her eggs. The humans protect the eggs and the hatchlings from their natural predators.

Once the ducklings are hatched and sea worthy, the nest is left to use for eider down duvets. It takes approximately 70 nests to make one duvet. These duvets last for over 100 years, and are literally “light as a feather”. They are simply the best duvets in the world.

If you want to impress an environmentally conscious client, especially in a mountain resort location, give them an eiderdown duvet for a closing gift. They will remember you every time they turn down the bed.

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Luxury Real Estate Marketing: Salute to Eco-Cool Luxury

November 8, 2010

Photo Courtesy of Aston Martin

If market leadership is your quest, as a luxury real estate marketing professional, it is essential that you look beyond your immediate marketplace and explore innovative ideas in the realm of luxury goods and services. That is one of the key precepts behind the Language of Luxury. Learning about what is cool in the world of luxury is a must. It can sharpen your own focus when crafting your personal brand and also help you to attract more high net worth clients.

By far one of the world’s coolest brands is Aston Martin. You may have first encountered an Aston Martin as the tricked-out sports car driven by James Bond in Goldfinger. Recent models have appeared in Casino Royale and Quantum of Solace. So far these fine automobiles have been featured in 10 Bond films.

In 2011, Aston Martin will go eco-cool with its new city car, the Cygnet, that sets a new benchmark for compact luxury. Cygnet demonstrates Aston Martin's commitment to innovation while conforming to strict new emission and size standards in Europe. The Cygnet simply does not compromise Aston Martin’s rich heritage of style, artistry, performance and personality.

At just three meters long, the Cygnet gives the driver a new dimension of freedom, able to slip into gaps in traffic, exploit the smallest parking spaces, consume the least fuel and emit the lowest emissions, all while delivering exceptional levels of quality and comfort. According to Marek Reichman, Aston Martin's Director of Design, “With an almost unlimited palette of materials, colors and textures, each hand-finished Cygnet will be truly unique, a personalized space within the city”. He says, “Luxury is not constrained by scale.”

Adopting to change is crucial in your luxury real estate marketing practice. But, change does not have to mean sacrificing quality of service.

Photo Courtesy of Aston Martin

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Luxury Real Estate Marketing: An 18 Carat Gold Marketing Idea

November 3, 2010

Hong Kong

While Google and Apple duke it out in the smart phone market space, one luxury smart phone brand, Ventu, stands apart by adding an extraordinary promise of value for the discerning consumer. Vertu provides an excellent example of how to differentiate you as a luxury real estate marketing professional.

Google’s Android smart phone platform is surging ahead and gobbling up market share from most major contenders except Apple. One in five smart phones now run Android. But, with most of the Apple’s competitors using same Android platform how can one be remarkably distinct from the next? How can these competitors hope to compete with each other? Watch for price wars. That will surely be the result of this glaring example of commoditization.

Enter Vertu! Vertu recently launched their first smart phone in Hong Kong—the Constellation Quest—which is available in 18 carat yellow gold and surgical grade stainless steel. It is truly functional art.

Each Vertu smart phone is manufactured by a single craftsperson. When you purchase the phone its settings are personally configured for you by Vertu’s trained assistants, based on your individual preferences. After the purchase, you can avail yourself of their 24/7 personal assistance program called Vertu Remote Assist. You r phone is accessed remotely, with permission, on an as-needed basis by Vertu’s technical support team who also offers you concierge service.

How can you apply Ventu’s strategy in your luxury real estate marketing practice?

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Luxetera, Etc.: TheTaste of Excellence!

November 2, 2010

ANNOUNCING: 100% iPad & iPhone Compatible LOL Videos!

The international Caviar House & Prunier offers travelers a Taste of Excellent at Terminal 4 in JKF Airport, New York. Click Here if this video is not displayed in your email subscription.

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Luxury Real Estate Marketing: Embracing Change Provides the Competitive Edge

November 1, 2010

When going after the market leadership position as a luxury real estate marketing professional, you will often find that the incumbent is complacent and slow to adapt to new technology. Those of you who can recognize when major trends are afoot and are quick to respond can make great strides in out-thinking your competition.

Steve Jobs said no Flash for Apple mobile devices. Did this pronouncement stop consumers from buying Apple’s mobile products? Apple sold 4.2 million iPads in the last quarter. But, what about those luxury goods online stores that built their websites on Flash? When Jobs speaks, they have to listen, because if they do not their competition will. Adaptation to change provides the competitive edge.

High-end clothing and accessories merchants have spent lavishly to liven up their e-commerce websites with video and animation that run on Adobe's ubiquitous Flash technology. It is understandable that they are frustrated with Mr. Jobs’ position. But, customers are increasingly accessing the web while on the go via mobile devices. And, iPads are expected to be one of the hottest selling items during the Holidays. Target, Best Buy and even Verizon are now geared up to sell these tablets with the expectation of cashing in on Apple’s popularity.

Net-a-Porter.com, a top luxury online retailer jumped on the alternative technology to build their site and now has a competitive edge over megastores such as Saks 5^th Avenue this season. Being nimble in relationship to competitors who are more entrenched in the status quo can give you the leg up.

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Luxury Real Estate Marketing: Beyond Online Self-Service - Part 2

October 28, 2010

Harry Potter's Friend - The Snowy Owl

As a luxury real estate marketing professional you have just moments to capture and hold the attention of website visitors and differentiate yourself from your competition. A stunning, distinctive looking website may snag their attention, but to hold it you must offer original content that they cannot find elsewhere. MLS Search, generic community information, local school information, etc., has become a commodity because it is available on just about universally. In general it is very difficult to compete based on website features that your competition can easily match. It is therefore, essential to provide an extraordinary value proposition to win over your website visitors and capture their leads.

Earlier this week we shared our experience of purchasing a Nook (Part 1), the single–purpose e-book reader from Barnes & Noble. What influenced our buying decision over Amazon’s Kindle was the remarkable customer service we were offered in our local B&N store.

Yesterday, B&N announced the launch of their Nook Color which is more like an iPad than the previous non-color version. It costs about ½ the price of the iPad, weighs less, and has video and audio capability. The publishers of magazines (that are offering multimedia formats) are supportive because B&N is willing to sell long term subscriptions for their publications which Apple is not. Apple wants magazines to be offered one issue at a time like iTunes.

Additionally, B&N announced the launch of NookKids.com an aggregation of children’s’ interactive book, a niche that must be presented in color. Can Amazon launch a similar color e-book reader and a children’s book website? Absolutely! B&N can be matched feature by feature by competitors. But, B&N’s in-store experience is what cannot be copied by Apple or Amazon and that is what needs to be exploited as an unfair competitive advantage.

What is your unfair competitive advantage? How can you showcase that as your extraordinary promise of value as a luxury real estate marketing professional?

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Luxury Real Estate Marketing: Beyond Online Self-Service

October 25, 2010

There is a very, very important lesson for Luxury real estate marketing professionals in the arena of e-book readers. Competing feature by feature with your competition such as integrity and market knowledge is an utter waste of time. The agent with the most extraordinary and inimitable promise of ADDED value has a better chance of winning.

Have you tried reading an e-book yet? So far it seems that the race is on for market leadership in the single purpose e-book arena between two major players: Barnes & Noble and Amazon.

The two most popular single purpose e-book readers are B&N’s Nook and Amazon’s Kindle. However, both of these companies have Apps available for use on multi-purpose devices such as the iPad, smart phones, laptops and desktop computers. But, if you are in the market for a single purpose e-book reader which one would you choose when the features on the devices themselves are basically the same and so is the price?

Barnes & Noble has a wider selection of e-books. But, it is only a matter of time that Amazon catches up. At first, B&N had a book sharing policy that Amazon did not have as a way to differentiate itself. Then, Amazon announced a similar policy. The reason that competing on features alone is such a worthless pursuit is because a feature is too easy to imitate.

Not everyone has the same buying criteria. But, for us the Nook beat out the Kindle hands down with an extraordinary ADDED value proposition that Amazon simple cannot match. First, it is a luxury for us to take our time and browse for books in our local brick and mortar B&N Store in Santa Barbara. We can ask live humans questions and get instant help there. Second you can read any e-book on your Nook for one hour via Wi-Fi while you are in the store. Amazon has the “Look Inside” feature online that is now extremely limited by comparison.

Our third reason is extremely important to note as a luxury real estate marketing professional. The store’s merchandise manager, Elliot Klement, took about one-half hour to help us set up our Nook account and give us a personal tour of the device. This was extremely helpful since we were about to travel and did not have time to read the manual thoroughly. He also offered each of us a cappuccino “on the house” from Starbucks (within the store) while he personally affixed the reading pane’s clear protective cover that we also bought.

We now have a relationship with Elliot in particular, not just B&N. Elliot assured us that we could come in any time to ask him any additional question we might have, not just go to a series of FAQ’s online. These reasons may not be meaningful to some, but they speak volumes to us and many others like us who are seeking the perfect balance between online self-service and matchless in-person quality care, which is the essence of the traditional luxury buying experience.

SEE PART 2 OF THIS POST

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Luxury Real Estate Marketing: Lessons from Ferrari

October 20, 2010

Photo by Olexiy Lazarevych, Ferrari 599XX, Geneva 2010

Why do some luxury real estate marketing professionals fare well in all economic conditions? The keys lie in two important words embodied by Ferrari, one of the most prestigious luxury brands on the planet: Authenticity & Certainty!

Agents who are certain about their core strengths, their internal capabilities and have a well-grounded value set do not get confused by changes in the economy. They do not question their competence. Therefore, they are able to clearly assess new opportunities, especially opportunities that are impervious to the economy. For example, relocating highly paid athletes can be a perennial source of new business.

Now is the best time to catch current market leaders off-guard, especially those who are deviating from their essential winning formulas and therefore, are sacrificing their authenticity in the process. If you are challenging the incumbent market leader you need to tap into your power, draw on your unique talents as well as your previous track record. You must offer an extraordinary promise of value that heretofore does not exist in your marketplace.

Most importantly, you must be authentic—the “real deal”- and consistently deliver on your clients’ expectations. Clients who are able to purchase, although they are more reluctant to spend in uncertain times, want to trust the brands they purchase from. That is where authenticity in personal branding becomes paramount.

This year, the luxury brands that have prospered the most have been those that have stayed true to their core values. A prime example is Ferrari who maintains its limited production in order to stay focused on craftsmanship and consistently delivers on customer expectations.

Like Ferrari, authenticity will keep you sure-footed, set you apart from your competition, and provide traction on the road to success. Maintaining your core value set will give you certainty and maneuverability regardless of road conditions.

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Luxury Real Estate Marketing: The Cutting Edge of Chocolate

October 19, 2010

Boutique luxury real estate marketing firms and high powered teams can have a distinct competitive advantage over the larger firms if they position themselves to appeal to the right target market, those who appreciates what a smaller firm or team can offer. Consider the difference between two brands of premium chocolate: Godiva and NōKA.

Godiva, founded in Belgium in 1926, was purchased by Campbells Soup Corporation in 1967 and recently sold to a Turkish firm. Godiva owns and operates more than 450 retail shops in the United States, Canada, Europe, and Asia and is available via over 10,000 specialty retailers. NōKA can be purchased online and through luxury department stores including Neiman Marcus and Saks 5^th Avenue.

To differentiate itself and stand out in contrast to Godiva and other major well known premium chocolate brands NōKA focuses on single estate chocolates in much the same way as a winery will offer a vintage from grapes picked from a single estate. The nuances in the taste in the single estate chocolate are derived from distinct soil and climate conditions.

NōKA offers their Sky Collection™, that comes in ten brushed stainless-steel keepsake gift boxes designed as a tribute to Howard Roark, the iconic figure in legendary author's, Ayn Rand's, classic novel The Fountainhead. Towering 1.5 feet high, the SKY Collection is comprised of 242 pieces of the finest single-estate dark chocolates and truffles, revealing the true "essence of each origin". Tasting guidelines and flavor profiles are included in each box. NōKA suggests that the Grand Cru Truffles are best enjoyed within 7 days of receipt and Vintages within 30 days of receipt. The price is $495.00

Price, distinctive packaging, single estate chocolate and smaller scale upscale distribution are the “quality cues”that differentiate NōKA from Godiva. How can you distinguish yourself, as a boutique firm or a high powered luxury real estate marketing team from the big players?

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