Luxury Real Estate Website Design: Flash = No Cash

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Book Review: Surviving Your Serengeti

February 18, 2011

Two years ago we had the privilege of reading one of the very first drafts of the new book penned by our colleague and dear friend Stefan Swanepoel. When we were together discussing his vision for the book he showed us his own amazing videos of the Serengeti migration and shared his passion about his native land. The evolution of this master work has been exciting to watch and be a part of as it has unfolded.

For years Stefan has empowered US and international business leaders to make strategic decisions by identifying, distilling and brilliantly articulating the major trends in the real estate industry. Now, in Surving Your Serengeti, which can be read in just a few hours, he has identified the 7 essential skills required to overcome any adversity and thrive in business and life.

By making parallels between the dominant survival skills of the animals of the Serengeti and personal skills, he has made it easy to determine your own strengths and also recognize the strengths of your co-workers, by devising this quiz. This is a must read for business leaders, team leaders and anyone whose job it is to bring the best out of those with whom they live and work. We highly recommend it for luxury real esate marketing professional around the globe.

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Luxury Real Estate Personal Branding: The Self-Discovery Process

February 16, 2011

We are often asked this question: What is most exciting and rewarding about working on personal branding with luxury real estate marketing professionals? In every single case it is the process of guiding our clients through a journey of self-discovery and also developing a customized marketing strategy based on these findings that is a perfect fit.

Aesthetic style preferences play a big part in crafting your personal brand. But it requires knowing yourself. That is why the process of personal branding is one of self-discovery. At the very least the process reaffirms and validates what you already know about yourself, which is an important clarifying experience as well.

Which would you prefer and enjoy the most: Living in a log cabin in the mountains or an urban chic, minimalist New York City loft in a high rise? Each of these settings would represent a means of self-expression. Providing that you chose one over the other based on your own genuine opinion and were not just trying to please others, the living space itself would reflect your personal values and your personal preferences.

If your brand identity accurately summarizes and symbolizes your personal values, your personality and your personal preferences and also distinguishes you from your competition, it will attract and resonate with likeminded consumers. It will also accelerate the speed of trust and referrals because people like to do business with and recommend people like themselves. The faster they recognize that you are like them the more likely they are to do business with you. That is what a great personal brand does. But, it all begins with the discovery process.

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Luxury Real Estate Branding Case Study: Ernie MacManus Group

February 15, 2011

This Video Can Also Be Viewed Here

This is the branding case study of Ernie MacManus, a luxury real estate marketing professional in the Northern San Diego County area. Ernie has a unique background as a successful stockbroker and lender. A perennial entrepreneur, he has launched The Ernie MacManus Group, a high performance real estate brokerage company.

Luxury real estate web design is an integral component of the personal and company branding process. Check out www.ErnieMacManus.com and introduce yourself to Ernie!

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Luxury Real Estate Personal and Company Branding: Is it Time to Refresh Your Brand? Part 3

February 14, 2011

Photo by Pod666

Check Out Part 1 & Part 2

Become the Iconic Brand of Your Marketplace

If you have not refreshed your brand in the last seven years, now is the time! Creating a brand identity symbolized by an iconic logo can give you a terrific competitive advantage in your luxury real estate marketing practice.

Think of the iconic logos that have been engrained in your psyche as you have grown up. If you see a silhouette of a large solid black circle with two smaller black circles connected at the top left and top right of the larger one what comes to mind immediately? How about a black and white silhouette of a rabbit with a bow tie or a black “check mark” against a white background or an apple with a bite missing? You did not need details or color to recognize Mickey Mouse, the Playboy Bunny, the Nike Swoosh or the Apple logo. It is this instant brand recognition that makes a logo iconic.

How long did it take you to recognize the museum depicted above? This is the Guggenheim museum in New York, Frank Lloyd Wright’s last major work. Like the Eiffel Tower in Paris, the shape alone is iconic. It took Wright 700 drawings to create this masterpiece of modern architecture that polarized architectural critics and thus created tremendous buzz.

Although the museum is not a logo, we purposely intensified the contrast in the Guggenheim image to illustrate this extremely important principle: If your logo can communicate the essence of your brand identity in black and white, like a silhouette, without much detail you are heading in the right direction. If it can be remembered quickly, after the passage of time, by your target market, with minimal previous impressions, you have a potential “hit” on our hands.

One glance at the Guggenheim and the impression becomes indelible in your mind. This is the ultimate goal in creating a brand identity, providing that the identity precisely communicates your authentic essence, what you stand for. The better the brand identity the fewer impressions it takes for consumers to achieve brand retention.

Whether you need a complete brand identity make-over or are ready to refresh your brand understand the incredible opportunity to secure the competitive advantage by making an indelible impression. Don’t be afraid to become the iconic brand of your marketplace.

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Luxury Real Estate Personal and Company Branding: Is it Time to Refresh Your Brand? Part 2

February 10, 2011

Tiffany Clock in New York photo by Affagundes

In Part1, we asked: "Is It Time to Refresh Your Brand?"

Here are five questions that will help you evaluate if it is time to refresh your brand as a luxury real estate marketing professional. If you answer no to any of these questions the time to refresh your brand is now!

Is your Promise of Value Extraordinary?

Do you blend in or stand out from your competition? Can those who know you well tell their friends, or even people they meet for the first time, how you are distinct from your competition in a few sentences, ideally, in one or two words? Here is how this plays out: AT&T or Verizon? Verizon has fewer dropped calls! Stated in two words: Verizon = “reliability & coverage”.

Does Your Visual Image Communicate Your Distinct Value Proposition?

Can you conjure in your mind Verizon’s red image of the US map that shows its superior coverage to AT&T?

Is Your Branding Consistent Throughout All of Your Online and Print Marketing Materials?

Think Tiffany: Blue box, blue shopping bag, and blue website. Check out their newly refreshed website.

Is Your Website Content Current, Relevant and Pithy?

Pithy means clear concise and to the point.

Have You Reviewed Your Marketing Strategies Lately?

If market leadership is your quest you must become a triple threat to your competition, offline, online and through superlative relationship management everywhere. Offline strategies apply to one aim: achieving “top-of-mind” status among potential home sellers and referral sources. Online strategies apply to attracting more buyers than your competition. Relationship management strategies can make you; weak strategies or none at all can break you.

When brand refreshment is done right it gives those who already know you a compelling reason to talk about you. As a company it can revitalize your team’s spirit. Is now the time to refresh your brand?

Check Out Part 3

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This is Part 2 of our series: Is It Time to Refresh Your Brand?

Here are five questions that will help you evaluate if it is time to refresh your brand as a luxury real estate marketing professional. If you answer yes to any of these questions the time to refresh your brand is now!

1. Is your Promise of Value Extraordinary? Do you blend in or stand out from your competition? Can those who know you well tell their friends, or even people they meet for the first time, how you are distinct from your competition in a few sentences, ideally, in one or two words? Here is how this plays out: AT&T or Verizon? Verizon has fewer dropped calls! Stated in two words: Verizon = “reliability & coverage”.

2. Does Your Visual Image Communicate Your Distinct Value Proposition? Can you conjure in your mind Verizon’s red image of the US map that shows its superior coverage to AT&T?

3. Is Your Branding Consistent Throughout All of Your Online and Print Marketing Materials? Think Tiffany: Blue box, blue shopping bag, and blue website. Check out their newly refreshed website.

4. Is Your Website Content Current, Relevant and Pithy? Pithy means clear concise and to the point.

5. Have You Reviewed Your Marketing Strategies Lately? If market leadership is your quest you must become a triple threat to your competition, offline, online and through superlative relationship management everywhere. Offline strategies apply to one aim: achieving “top-of-mind” status among potential home sellers and referral sources. Online strategies apply to attracting more buyers than your competition. Relationship management strategies can make; weak strategies or none at all can break you.

When brand refreshment is done right it gives those who already know you a compelling reason to talk about you. As a company it can revitalize your team’s spirit. Is now the time to refresh your brand?

Luxury Real Estate Personal & Company Branding: Is it Time to Refresh Your Brand? Part 1

February 9, 2011

When is it time to refresh your brand? You definitely should re-think and refresh your branding at least every seven years. This applies to luxury real estate marketing agents and brokerage companies as well. Brands need to evolve and keep up with changes within their target market and also learn to reach new audiences. A good example of a complete brand makeover is Abercrombie & Fitch.

In the late 19^th century Abercrombie & Fitch was a very high end sports outfitter to the rich and famous. If you were about to embark on an African safari and needed a pith helmet or an elephant gun A&F was the place to shop. Today, they sell mostly clothing to 18-22 year old consumers with over 300 locations in the US and abroad.

However, this was a brand that was literally resurrected from bankruptcy when, in 1977, Oshman’s Sporting Goods acquired the defunct firm’s name and mailing list Then, in 1987 The Limited, a clothing retailer, purchased the company because they spotted an underserved retail market niche that they could serve better than anyone else by refreshing the brand. That niche was “Preppies”.

Women's Wear Daily calls Abercrombie & Fitch clothing classically "neo-preppy", with an "edgy tone and imagery". A&F describes this market niche as an aspirational “Casual Luxury”.

In Part 2 of this series, we will discuss the 5 Ways to Refresh Your Luxury Real Estate Marketing Brand. Part 3 is about becoming the iconic brand in your marketplace.

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Luxury Real Estate Marketing: How Do You Define Quality?

February 8, 2011

Superlative luxury real estate marketing requires an understanding of what constitutes quality not only n home construction, architecture, design and furnishings, but also the finer things in life in general.

We have been looking for a definition of quality that applies both to objects and to service. Here is the best definition we have found so far on the subject of quality.

Quality is never an accident: it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives.”

John Ruskin (1819 –1900) was an English art critic, social thinker, poet and artist.

What is your definition of quality? Let us know.

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Luxury Real Estate Marketing: What Is the Secret Ingredient?

February 7, 2011

Recently, we received this email from an agent: " What would you say is the secret ingredient to succeeding in the luxury real estate arena?"

Here is our answer:

The secret ingredient is impeccable communication skills, and manners. Communications and manners are two sides of the same coin. We all are taught manners and communication skills as a child and learn more as we encounter situations in life and work, so what is the big deal? The big deal is "impeccable". Webster's defines it as, "(of behavior, performance, or appearance) In accordance with the highest standards of propriety; faultless."

Impeccable communication and manners inspire trust and confidence. Any newbie with impeccable communication can outsell a seasoned grouchy veteran. We saw it happen in a luxury car dealership, where a newbie (just hired. first time in car sales) outsold everyone on the floor in her first week on the job, even though she knew just enough about the cars she was selling.

We have a friend in Napa who worked for one of the prestigious vineyards as a host and manager of their events. He is communication virtuoso. At an event a dignitary from another country noticed his skills and asked him if he would be willing to become the head butler in their embassy in Washington. He was delighted and accepted. He enrolled into butler school. Now he runs the embassy's social events and is the liaison to the other embassies.

You can be a virtuoso. Webster's definition is: "one who excels in the technique of an art; especially : a highly skilled musical performer (as on the violin)of excellent communication."

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Luxury Real Estate Web Design: 3 Ways to Create a “Sticky” Website

February 2, 2011

Rodeo Drive, Beverly Hills

Q: We are often asked," In luxury real estate web design, how do you create a "sticky" website?

A: Think of your website as a fine luxury goods retail store on Rodeo Drive in Beverly Hills, where millions of dollars are spent on a storefront alone, to lure customers in the door. The interiors are designed to help keep them in the store and encourage them to buy. The longer they stay the more likely they will buy. The store owners want customer to "stick around" and also look forward to coming back. That is what is meant by "sticky". Not all luxury real estate markets have this high profile. Most are much more low key, especially in vacation destination areas. But, keep these three key guidelines in mind to create a sticky website for marketing luxury real estate:

1. “Simplicity is the ultimate form of sophistication”—Leonardo Da Vinci. A website needs to be easy to navigate for visitors as well as your current clients. The faster a visitor is able to reach what they came into “your store” to find the more satisfied they will be and the more likely they will return.

2. The Pajama Rule: However, handsome or gorgeous you may be, we don’t advise that you have your picture on your home page. How do you feel when you walk into a store and you are accosted by one sales person after another, over-eager to “serve” you? The best web sites today are self-service stores that encourage the visitor to reach out to you for help, when they are ready. One of our clients decided to do a survey with her loyal clients. She asked them about her picture being omnipresent on her website. One of her best clients said, “I love working with you. However, I do not want to see your picture, when I am searching for properties on your website in my pajamas. It feels like you are looking over my shoulder.”

3. Keep your home page clutter-free. Attract, don’t distract. Motion graphic links to schools, the weather report, the chamber of commerce, the ski report, the fishing report, the local news feed, sellers’ reports, buyers’ reports, and market reports, all of these items tend to distract the person who is interested in seeing properties. Links are wonderful if organized properly; otherwise they distract and cause people to forget why they came into your store to begin with.

Imagine you are your own customer and you just walked out of your store. Conduct your own “exit poll”. Ask yourself these two questions: Did you get what you came for? Was it a rich and satisfying experience?

Luxury Real Estate Personal Branding: Does This Reflect Me?

February 1, 2011

Q: Here is a question we sometimes hear when we are crafting a personal brand identity for clients who market luxury real estate: What is more important: Whether I really like it or my friends and family like it?

A: Here is our answer: Your brand identity, meaning your logo and overall graphic brand package, must be a reflection of the essence of your personal priority values and it must resonate with the priority values of your target market. People who are more self-referred will attract others who share this priority value. The same applies to those who rely more on other’s opinions.

So you see, there is no right answer for everyone. As two predominantly self-referred individuals this was an important lesson to learn for us when advising our clients. It is something to keep in mind when you are advising your luxury real estate buyers and sellers.

Some people tend to defer more to the opinions of others around them, especially those who are close to them, rather than being more self-referred. This is fine, if keeping the peace creates a more tranquil environment that is actually empowering. One tendency is not better than the other if the net result is personal empowerment in the long run. When the “waters” are tranquil around you, your reflections are the clearest and so is your personal brand signal.

For some, asserting their own opinion is not worth the strife it can cause in their immediate environment. If there is discord around you because the opinions of others are causing interference with your brand signal you may be disempowered. Keeping the peace does not necessarily mean you are losing your personal identity. It means that standing firm is less important at a given point in time when taking everything into consideration.

Here is a better way of looking at this question: Is your brand identity, doing its job as a silent salesperson for you? What sells you the most is your own clear brand signal.

People like to do business with people like themselves. Discover your own priority values and you will be sure to attract an abundance of clients with like values.

Luxury Real Estate Personal Brand & Web Design Case Study: Courtney Ranson

January 31, 2011

Check Out: www.DenverWashPark.com

Luxury real estate personal branding is not just about creating an attractive new look for your website and print collateral. While it is important to stand out from your competition with superior visual imagery, a personal brand identity is much more than putting on an attractive new outfit. Your personal brand must stand for something that resonates with the needs and values of your target market.

If you strike the right chord you will spark a deep positive emotional response from potential clients and referral sources who feel an instant connection with you on their first encounter. Done right, emotional branding can accelerate the speed of trust and referrals.

This video above is the personal branding case study of Courtney Ranson in central Denver. It truly demonstrates the high impact of emotional branding.

Luxury Real Estate Marketing: How Important is a Logo in Personal or Company Branding?

January 30, 2011

Q: How important is a logo in personal/company branding?

A: A logo is important as an integral part of your personal/company brand. But, it can be a missed opportunity if it does not convey your extraordinary promise of value.

A great logo is a symbol that encapsulates and succinctly communicates the entire experience of your brand. It conveys what you want your brand to stand for in the minds of your target market and how you are distinct from your competition.

Think of the ubiquitous Nike “swoosh”. It has tremendous meaning all rolled into a very simple graphic line that looks like a check mark. If you were to ponder a bit on the swoosh symbol you might summon the Nike slogan to mind, “Just do it!”, and it would have even more meaning to you, especially if you are athletic or enjoy sports. In Greek mythology, Nike is the goddess of victory. Knowing this can conjure an even deeper emotional connection with your core values.

Putting a symbol like a key or an antique door to a home, or an Adirondack chair on a front porch, next to your name because you are a real estate agent can create a logo. But, it falls short of the potential to communicate who you are in particular and how you are different.

Sometimes a logo is just one part of the entire brand identity. The Tiffany logo is a very simple font spelling out the company name in Times New Roman, a font that comes standard with all computers. But, think of the Tiffany blue gift box. Can you see how much meaning the color and that box has? The entire brand identity, the logo, color and the images that are associated with the name become the brand identity.

Ralph Lauren’s Polo logo speaks volumes about an affluent lifestyle even for those aspiring to that lifestyle. Like Nike it can be instantly recognized and it communicates tremendous meaning.

Ask, yourself another question, “How important is being top-of-mind in your marketplace?” Then ask yourself, “How important is a logo in personal/company branding?”

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Luxury Real Estate Marketing: How to Create Buzz, If the Shoe Fits…

January 28, 2011

Competing for the attention of your target market is today’s biggest advertising challenge when marketing luxury real estate. Sparking word-of-mouth advertising or buzz marketing is the ultimate answer. Here is one of the world’s greatest examples of how to create marketing buzz.

The Italian company of Tod’s luxury leather goods and shoes recently announced that they will pay $34 million dollars to restore the Coliseum in Rome. As Diego Della Valle (aka Italy’s shoe king) said, “A monument that represents Italy in the world must be restored, and a company that represents “made in Italy” stepped forward to say, “If you need us, we are here.”

Even though no scaffolding bearing the Tod name will be allowed on the restoration project, this marketing coup is a brilliant way of connecting the brand to its Italian heritage with the glory of the Roman Empire.

Tod’s marketing plan includes other Italian cultural and historical symbols. Recently, Mr. Della Valle commissioned, An Italian Dream, a ballet to interpret the artistry and the craftsmanship that goes into making a pair of Tod’s driving shoes. The video can be seen at Tods.com. In addition, the La Scala ballet company performed An Italian Dream in Beijing accompanied by the Beijing orchestra. Mr. Della Valle also pledged $2 million dollars toward future productions and upkeep of La Scala’s sets.

By restoring Italy’s most well know icon, the Coliseum, Tod’s has created an international news story that is sure to tap into the soul of everyone who loves Italy and trigger word –of-mouth advertising with global reach. How can you apply this to your local luxury real estate market?

The #1 Secret for Selling Luxury Real Estate: Know Your Buyer’s World View About Luxury

January 26, 2011

We are going to let the cat out of the bag with this post. If you want to stay on the leading edge as a luxury real estate marketing professional do not let your competition read this article! It turns out that the Language of Luxury has two “dialects” depending on the world view of the luxury buyer. If you can speak both dialects fluently and use the right one with the right buyer, you will have a tremendous competitive advantage and close more sales.

What if you could instantly assess which of two types of luxury buyers you are dealing with and could speak to them in their “native tongue”? Your lead conversion would increase and so would your sales!

The two types of luxury buyers are: Type 1- Inner Referred and Type 2- Outer Referred. Neither one is better than the other, just different. Type 1 refers to their own gut instincts when making buying decisions and Type 2 refers to the opinions of others and the approval of others when they make their decisions.

Oddly enough, both types of buyers may be interested in buying the same home. But, the way you describe the home and the words you use to communicate how the home will satisfy their needs and values must be spoken in their own dialect. They both view the same physical components of the home but the meaning of the physicality to each buyer type is worlds apart.

Type 1 buyers see the home as a means-unto-itself, a possession that will give them personal pleasure without regard to what others think. Talk to them about the distinctiveness of the architecture for example. Include the skill and expertise of the craftsmen who built the cabinets and did the tile work. If there is a flattering story behind the house or its heritage tell it to Type 1 buyers. Explain to Type 1 buyers how the home can represent the buyer’s personal achievement, that is their priority value .

Type 2 buyers see the same home as a means-to-an-end, a possession that will give them acceptance into a social group that they admire. Purchasing the home may also be a way to attract the approval of friends or family. When you speak to Type 2 buyers the operative word is prestige, which is their priority value. Explain how the home can enhance their social standing, their status in the community. Let them know how it can give them social currency by virtue of living in the same neighborhood where celebrities or titans of business dwell.

Type 2 buyers are often criticized as being pretentious. Put these judgments aside. Prestige and personal achievements are just the two dialects of the Language of Luxury. Both types of buyers can contribute mightily to your own personal economy. Understand that each type of buyer is satisfying their needs and values according to their own world view. That is the #1 secret for selling luxury real estate.

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Marketing Luxury Real Estate: Building a Brand Community - Part 1

January 25, 2011

What does your brand stand for? This is a very important branding question if you are going to build a “brand community” around your luxury real estate marketing practice. Developing a brand community is a way of harnessing the power of word-of-mouth advertising among your most enthusiastic and loyal fans.

Harley-Davidson revived a once dying brand by building a strong brand community. They created activities, meet-ups and the Harley-Davidson Museum as a way to get their customers to “join” their brand. This galvanized a fiercely loyal core group of raving fans who rally around the battle cry of “freedom, individuality, and rebelliousness”, which is what the brand stands for in the minds of consumers worldwide. Licensing the Harley-Davidson logo alone accounts for 5% of their net profit

Apple has brilliantly created “brand hubs” in most major marketplaces with their stores. When you purchase an Apple product you are joining their brand and becoming a member of a community who share the same values. Offline, the club house is the store where you can always find like-minded “members”.

In luxury real estate marketing, unlocking the full potential of a brand community means creating a following of fans by adding extraordinary value beyond what is expected from a typical agent or agency. Today, you must first earn their attention outside the context of listing their home with you or buying a property with your assistance.

The battle for market share is actually the battle of mind share. Whoever comes to mind first wins! Therefore, marketing strategy is actually all about achieving top-of-mind status.

We will be exploring the best practices for building brand communities in luxury real estate marketing. If you have been successful in building a brand community or know of others who have done so we would appreciate your sharing this with us and the Language of Luxury community.

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Luxury Real Estate Marketing Tip: Find Opportunities Right Under Your Nose

January 24, 2011

In marketing luxury real estate there are many ways to find a niche in your marketplace that you can dominate. One way is to discover an uncontested segment or aspect of the market where there simply is no competition. These segments usually are not obvious so it may take a keen eye to identify them. But, sometimes the best opportunities for niche marketing are right under your nose.

Does it bother you when you see someone who is just mediocre dominating a particular market niche that you are certain could be better served by you? If so, has it ever occurred to you that those who are being poorly served would welcome you with open arms if you just give them a better alternative and a compelling reason to switch agents?

In this case it may not even be necessary to offer an extraordinary promise of value. Someone like you who simply practices the fundamentals consistently can immediately stand out as extraordinary. You can often catch the incumbent market leader in a given niche off-guard simply because they have become complacent.

When we started our commercial real estate practice in Beverly Hills we often were able to secure new clients just by practicing the most basis fundaments. This idea became crystal clear when we heard many clients thank us for showing up on time for appointments, or for promptly answering phone calls, or for following through on the simplest of tasks. These are attributes that competent agents often take for granted.

Sometimes the reason that you do not take on the incumbent in a particular market niche is because you undervalue yourself. Give yourself more credit. Then look right under your nose. You may find an opportunity to dominate a market niche that is staring you right in the face!

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Luxury Real Estate Personal Branding: Getting All Your Mental Ducks in a Row

January 19, 2011

One of the most important principles of successful luxury real estate personal branding is internal alignment, also known as “getting all of your mental ducks in a row”. Everything must first line up internally, within your own mindset, before you can attract the success that you seek.

The first place to check to see if you are internally aligned is your level of passion about your work or the way you are approaching it. Ask yourself, “What am I most passionate about in life?” Another important question is this: “Does my luxury real estate marketing practice offer me the opportunity to pursue my passion?”

Aligning your personal passion with your business goals is tantamount to strapping on a booster rocket that not only propels you faster; it also sustains you during challenging times. Passion can give you the competitive edge because it gives you stamina. Passion is like a reserve tank of fuel that keeps you going when your competition is ready to quit or gets complacent.

If you find that you are not passionate about your work there is still hope! This usually means that you have not identified an under-served market niche that you can dominate. You must find an arena in which you can truly express your passion because you can serve it better than anyone else in your marketplace. These conditions will get you fired up like nothing else!

You and this niche must be a match made in heaven. That is the unobvious external alignment that far too many people overlook and therefore do not find passion in their work. When you have your mental ducks in a row and you have tapped into your passion your work life and your personal life is seamless.

Here is an example of the seamlessness of internal and external alignment: We love to take walks on the beach. On our way to the shore we traverse the local community-protected Carpinteria, California salt marshes where we are able to commune with many species of ducks. The variety of colors and patterns in nature often inspire us in our art direction when we develop personal and company brands for our clients. We look forward to the day when we use the iridescent aqua-emerald green colors found in mallard ducks in one of our luxury real estate branding projects.

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Luxury Real Estate Marketing: Put the Drip in Deep Freeze!

January 18, 2011

We now live an in over-communicated world. Have you noticed that the amount of email in your inbox is burgeoning? With this in mind, what is your take on real estate email “drip” campaigns that kick in automatically when you capture a lead on your website? Does this make good sense anymore for marketing luxury real estate? Have drip campaigns become archaic with the advent of social media? We say, "Put the Drip in Deep Freeze!"

These questions and more came up recently when speaking with a vendor who was touting the virtues of email drip campaigns not only as a way to automatically stay in touch with agent’s registered web visitors (who may eventually buy or sell a home), but also with one’s sphere of influence in general. He said that studies show that you should generate no less than 33 “touches” (in the form of email) per year for each of your contacts.

With a little practice, it is easy to stay in touch with your contacts via social media three times per month. However, many real estate professionals are using the stupendous new tools of social media to spew information that is completely uninteresting to their target market. This is a tremendous missed opportunity! In a sense, they are using social media as a form of drip campaigns. These agents’ posts are targeted more for Google’s robots to help them improve their search engine ranking than reaching out to relate to human beings. How does it feel to you to be dripped upon?

The challenge now is to communicate artfully, in a way that is meaningful to your friends and your target market. Take the time to generate original, not canned communication. This is one very important way to set yourself apart from your competition going forward in 2011 and beyond.

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Luxury Real Estate Marketing: 7 Ways to Get a Bigger Piece of the Pie

January 17, 2011

Here is an email from one of our clients:

I have sold quite a few luxury homes in my market place. I have two competitors who get the lion’s share of the business, and I want to know how to compete with them. Competitor A is from a well known wealthy family rooted in this city. This person went to all the right schools, gets invited to the right events, and generally lists properties based on contacts alone. Competitor B also has numerous contacts as the spouse is a partner in a prestigious corporate law firm headquartered in town. The firm sends all their residential real estate referrals to this person. How do I get a bigger piece of the pie? How can I unseat with theses entrenched incumbents?

And, here was our response:

Dear Luxury Realtor:

It is important to understand that the luxury pie is much bigger than you think. There is more pie than meets the eye for you. You just need to be the one who sets the rules of how the pie gets sliced. Here is what you need to do:

Find the uncontested, underserved market niche within your marketplace. These incumbents cannot be all things to all people. Create your own rules for sectioning the pie, (why settle for crumbs of your competitors’ pie as they slice it?) Give your competitors’ clients a compelling reason to switch brands.
Determine what you can do better than anyone else in your marketplace, with passion
Define your ideal client. Study the psychographics (the mindset) of your previous luxury buyers and sellers. There is a wealth of information in reviewing this data, as it tells you the type of people who like working with you. These people are looking for you as much as you are looking for them.
Define your brand with laser sharp clarity; articulate what makes you distinct from A or B. Make it extremely easy for those who would prefer working with someone like you to recognize that you are the one for them. Make it obvious in an instant!
Distill your marketing message into a sound bite or two so that it is extremely easy for your fans to spread the word about you to their friends.
Step up your marketing and promote your inimitable brand of doing business. Give the marketplace an undeniable choice.
Enjoy your piece of the pie!

Through our extensive discovery process, our client was able to identify the underserved market niche that she could dominate and her competition could not: The world of “hip luxury”. This niche is comprised of younger high net worth entrepreneurs, the entertainment and high tech industries, plus, those interested in food and modern art which were areas of expertise of our client.

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