Brand strategy for luxury real estate marketing professionals is all about achieving top- of-mind status. That takes superior, long-range, strategic thinking. But, what is at stake? The lion’s share of the business in your market place or a niche therein, that is what is at stake!
Who Needs Brand Strategy?
The only players who have a use for brand strategy are the ones who are bent on gaining or sustaining market leadership Incumbents or Challengers. Everyone else is fighting over the crumbs, doing the best they can. To seize or maintain the lion’s share you must think strategically.
Have you been watching the NBA Western Conference Playoffs with San Antonio and Oklahoma City? San Antonio is proving to be in a league of their own. Their teamwork is impeccable and their strategy is brilliant. They just won 20 straight games! Kenny Smith, the retired NBA star and TV announcer, covering Game 2 said something that explained the difference between the two teams: “San Antonio is playing Chess while OKC is playing Checkers”.
Chess or Checkers?
That comment perfectly summarized what we have been saying about brand strategy for luxury real estate marketing professionals. If you are bent on the “unabashed pursuit of market leadership”, it is imperative that you become a master of brand strategy. Like Chess, brand strategy requires well-thought-out, long range thinking.
You can make a lot of money by mastering internet marketing strategy by being the first to capture buyer leads. Many incumbent market leaders are very vulnerable in this department because they are not up to speed yet and, in most cases, it is still a buyers’ market. But, in the long run it is the agent, team or company who consistently wins listings that makes the most money. Being a master of both disciplines, is the surest way to become the dominant player and significantly outdistance your closest competitors.
Even though it appears that you are playing on the same game board, the true market leader is playing Chess, while everyone else is playing Checkers. However, If you want to challenge the market leader you need to outthink the incumbent at their strategic level and beat them at their own game. The battle may ultimately be a fight for market share. But, you first have to win the battle for mind share. And, that takes strategy.
Are you playing Chess or Checkers?
This blog posting has been provided by Ron and Alexandra Seigel, the Language of Luxury Community Founders and managing partners of Napa Consultants, International, the leading luxury real estate strategic marketing firm. They specialize in personal and company branding, luxury real estate website design and social media marketing. Photos courtesy of Ron and Alexandra.