Ron and Alexandra Seigel make a strong case for staying focused on your niche if you are in the luxury market. Worth reading even if "luxury" is not your specialty. You may get ideas about how to separate your marketing to better highlight any specialty.
And you might enjoying following them at http://activerain.com/profile/languageofluxury
Apple 5th Avenue Store in New York Photo ©Phakimata
It is tempting to dilute your position as a leader in luxury real estate marketing by taking on whatever properties come your way in various price ranges. The temptation comes either from greed, fearing that you will miss out on other opportunities, or from losing confidence that your chosen niche has the capacity to fulfill your financial goals.
A great case in point is the reversal of fortunes of Samsung in the smartphone market. After an outright assault on Apple, Samsung surpassed Apple in overall smartphone sales. Their tactic was to create phones in all price ranges and go for sheer volume.
Apple stayed focused on the top-tier where the margins are high and regained supremacy after selling over 75 million phones in their last quarter. A significant percentage of 2014 sales were in China where competition for lower price range phones is fierce and margins are slim.
Last year Apple unseated all of the iconic European luxury fashion and jewelry brands as the number one luxury brand in China. With the Apple Watch soon to launch, Senior VP of Design, Jony Ive, and the new head of retail, Angela Ahrendts (who was credited for turning around luxury retailer Burberrys) are in the process of revamping the design of its stores. Apple is doubling down on luxury to strengthen its dominance in this arena.
Continuously refining your marketing message and luxury real estate brand esthetics is an important part of staying on the leading edge. It is essential if you want to stay ahead of your competition in the long run.
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace