Napa Consultants: Luxury Real Estate Marketing Tips

3 Ways to Prepare for a Market Upswing

 

As the luxury real estate market recovers in your area, you willn otice that more new agents are diving back into marketing luxury real estate. That means competition is now heating up. Now is the time to prepare in order to out-think your competitors. 

The median sales price for homes in San Francisco jumped 16% in 2013, according to the San Francisco Association of Realtors. This is primarily due to a stronger demand among the "Technorati" who want to live in the city and are content to commute to nearby Silicon Valley.

Whereas your area may not be rebounding as quickly as San Francisco, you must be prepared to protect your turf. To do so, think more like a limpet!

The limpet is a sea snail with a conical shell. The limpet attaches itself to hard surfaces in the ocean. They feed on the algae in the waters and what makes them unique and interesting is that they maintain a garden, which surrounds their home base. When another creature dares to graze in their garden, they push them off by ramming them with their shell, so that their garden can continue to thrive.

For luxury real estate marketing profesisionals, limpet thinking means keeping your garden in order and watching out for interlopers. Here are three ways to prepare for a market upswing:

1. Refresh your personal or company brand

2. Create a new full featured luxury real estate website or update your current one

3. Stay in close communication with your sphere of influence on a regular basis

 

So, think like a limpet, and protect your garden in 2014!

 

Written by Ron & Alexandra Siegel, Managing Partners of Napa Consultants, International, "the leader in brand strategy for the luxury real estate industry." Their blog, the Language of Luxury (LOL), is the most widely read luxury real estate marketing and branding blog on the internet. Click here for more.


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Posted by: Admin
Posted on: 1/20/2014 at 3:04 PM
Categories: duPont Marketplace | Luxury Guest Writers | Luxury Real Estate | Marketing Tips
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Napa Consultants: Three Tips for Marketing Success in 2014, Part 3

Your Brand Has to Have Soul and Be Inspirational

As a luxury real estate marketing professional, it is essential to discover the soul of your personal or company brand and to create an inspirational brand story. Doing so is a surefire path to market leadership.

Think of a company that has inspired you. Have you ever flown Southwest Airlines? This is one of the brands we love, mainly because of the ease and simplicity of making or changing reservations, their on-time record and also the remarkable friendliness of their employees. Here is a company with soul!

If Southwest Airlines has soul, Zappos, the online shoe store that put 2-way no-cost shipping on the map and was sold to Amazon for more than $1 billion, has both soul and an inspirational brand story. The title of the best seller "Delivering Happiness," written by Zappos CEO Tony Hsieh, says everything about his management style and the company purpose. 

As with Trader Joe's (covered in "Part 2"), the high employee morale in Southwest Airlines and Zappos is palpable. Employee morale contributes mightily to customer engagement via word-of-mouth marketing and customer loyalty.

But, why should you strive to uncover and mine your own personal or company brand's "inspirational DNA"? A study conducted by Performance INpsiration shows what consumers do when a company inspires them:

  • 86% of respondents say they would recommend the company to friends and family
  • 82% would be loyal to that company
  • 92% would share their experience with others
  • 71% reported they would spend more on a company that inspires them

Old Spice came out with a commercial that embodies all three essential elements that we cover in this aritcle series, love, soul and inspiration, inspiration because the video went viral, with more than 3 million views when we saw it. The theme, "Smellcome to Manhood," brilliantly targets and communicates to boy swho are coming of age, and also to moms who might buy it for their sons (if they let their sons grow up). It is a must see, and is far better than most superbowl commercials. What a coup for a heritage brand looking to reach its next generation of consumers. You can watch it by clicking here.

Spend some time uncovering and mining your own inspirational DNA. It needs to be demonstrated not just superficially, but through every interaction you have with your associates, your clients and your entire sphere of influence.

 

Written by Ron & Alexandra Siegel, Managing Partners of Napa Consultants, International, "the leader in brand strategy for the luxury real estate industry." Their blog, the Language of Luxury (LOL), is the most widely read luxury real estate marketing and branding blog on the internet. Click here for more.


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Posted by: Caitlin
Posted on: 1/16/2014 at 9:53 AM
Categories: duPont Marketplace | Luxury Guest Writers | Luxury Real Estate | Marketing Tips
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Napa Consultants: Three Tips for Marketing Success in 2014, Part 2

What's Love Got to Do with It?

As a seasoned luxury real estate marketing professional, you’ve certainly had the experience of a buyer falling in love with a home at first sight. We personally had that experience with our own home. We knew within 5 minutes that we found the perfect place, wrote an offer and were in escrow within 48 hours. But, this is not typical, especially or buyers who are not all that familiar with your marketplace.

Most of the time you need to set the stage for buyers by first romanticizing your marketplace, then pointing out how the homes you show them could be an ideal match to their needs or dreams. With sellers, you need to romance them with your personal or company brand before they give you their listing. Then you need to present their listings in the best possible light with stunning photography and verbal descriptions that promise a lifestyle devoid of mediocrity.

Think about a brand you love. We love Trader Joes. We cannot say enough about the esprit-de-corps that their very knowledgeable Santa Barbara “Crew” consistently demonstrates, the product selection, their return policy, the food sampling station that always has excellent coffee and friendly conversation, the human scale of the store itself and on and on. The crew here wears shorts and “island-themed” shirts that set the tone for a casual, relaxed buying experience.

How do you get clients to fall in love with YOU and your brand? You need to prove that you truly care about people, according to Wolfgang Shaefer, Global Chief Strategy Officer of SelectNY, a speaker at Luxury Daily’s Luxury Outlook 2014. And, that is what is at the heart of the Trader Joes brand. The operation is so well run that you get the sense that they really take the time to care about you.

What can you do, as a luxury real estate marketing professional, to further convince your past current and potential clients that you truly do care? Spread the love in 2014!

 

Written by Ron & Alexandra Siegel, Managing Partners of Napa Consultants, International, "the leader in brand strategy for the luxury real estate industry." Their blog, the Language of Luxury (LOL), is the most widely read luxury real estate marketing and branding blog on the internet. Click here for more.


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Posted by: Admin
Posted on: 1/10/2014 at 9:50 AM
Categories: duPont Marketplace | Luxury Guest Writers
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Napa Consultants: Three Tips for Marketing Success in 2014, Part 1

At year-end we attended Luxury Outlook 2014, produced by Luxury Daily. Although the presentation was geared primarily toward the luxury goods industry, we gleaned some exciting insights for luxury real estate marketing professionals that we will share with you in this article series.

We were particularly moved by Wolfgang Shaefer, Global Chief Strategy Officer at SelectNY, who emphasized the importance of telling the story of your brand from three perspectives: stories of SOUL, stories to INSPIRE and stories of LOVE. So, stay tuned as we apply these principles to the art of marketing you in the luxury real estate realm and leveraging your brand to create an outrageously successful 2014.

 

Written by Ron & Alexandra Siegel, Managing Partners of Napa Consultants, International, "the leader in brand strategy for the luxury real estate industry." Their blog, the Language of Luxury (LOL), is the most widely read luxury real estate marketing and branding blog on the internet. Click here for more.


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Posted by: Admin
Posted on: 1/8/2014 at 8:17 AM
Categories: duPont Marketplace | Luxury Guest Writers
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