Are You Being Blurred By Your Competition?

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Services for Real Estate Pros with Napa Consultants
https://activerain.com/droplet/4Yxg

Those who are looking to compete with successful real estate professionals will often imitate the leaders in every way, shape and form. It is visibly prevalent in every industry, especially in real estate. The competition will study what the competitor is doing, with the intent to blur the differences. Blurring is a method of nullifying your competitor’s strategic differentiators, and saying “we are just as good, if not better!”

 

This explains why we often see the exact same website, and even the same messaging on these sites, and why logos often resemble each other so that they are a blur in the eyes of sellers and buyers.

 

Photo by Silviya Avsova

Here is a clear-cut example: Coach (a maker of handbags and accessories) since 1941, was the first to notice the under served market of luxury handbags at affordable prices. In 1981, Michael Kors also went into the same space. The new company copied the Coach store designs and even used the same manufacturers to produce their bags.

 

When Coach woke up, two years ago, they asked their employees to look at a slide show of storefronts and bags asking them to identify the brand. Like the majority of consumers, they could not differentiate Coach from Kors.

 

Photo by Rajan Singh

Coach’s chief operating officer, Victor Luis, stated, “We were slow to evolve, “We did not innovate quickly enough, did not invest enough in differentiating ourselves from the new competition that was in some ways taking our playbook.”

 

Blurring is a valid method of creating a level playing field with your competition. However, if you do not amplify your own inimitable strategic differentiator you will face the same consequences.

 

Are you being blurred by your competition?

Posted by

Written by Ron & Alexandra Seigel-

 

CAN YOU STATE HOW YOU ARE DIFFERENT AND BETTER THAN YOUR COMPETITION IN LESS THAN 30 SECONDS?

 

ABOUT:  Luxury Real Estate is a high stakes game. Commissions are substantial! We help luxury real estate professionals get to the listing table more often and win listings more frequently.  If you want to be the market leader, the personal or company brand that your target market thinks of first and refers most often, you need an Elevator Statement to accelerate the process.  We can get you there!

Your Elevator Statement is a succinct and persuasive summary of your extraordinary promise of value, your unique selling proposition.  In a time-starved world the attention span of your target market is shrinking.  To instantly convey what sets you apart from the crowd you need to be able to answer EACH ONE of these 3 questions in less than 30 seconds.: 1) What Do You Do?; 2)  How Do You Do It?, and;  3) How Are You Different?.  Can you state how you are different and better than your competition in less than 30 seconds?

Watch the video above to see and hear how we do it. 

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Rainmaker
1,171,762
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Wow .. was definitely drawn in by your title today, Ron and Alexandra Seigel ... and have much to chew on as a result.  I know I have a unique background and set of experiences that help me service and guide my clients in ways that other LOs cannot.  It's a challenge to get to a point in a conversation to showcase that ... but I simply do not want to have potential clients view me through a blurred lens ...

I continue to seek ways to avoid that ... great post, as always!

Gene

Jan 03, 2017 03:27 PM #5
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 and Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  You know what the saying: "You snooze, you loose" Michael Kors financial bottom line on the bags was 4.7 billion, and Coach was 4.5 billion.  Three years ago, Kors had less than half the sales.  It does not take long at all to catch snoozers and those that are complacent.  A

Jan 03, 2017 03:35 PM #6
Ambassador
2,670,475
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Ron & Alexandra - That's an interesting concept, and I like your point about its limited long-term effectiveness. It's a jungle out there and it's best to develop your own unique message, and work to keep it unique.

Jan 03, 2017 03:50 PM #7
Ambassador
1,648,196
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Wow, point made. That's scary to think Michael Kors could compete with Coach. I'm amazed.  

Jan 03, 2017 04:00 PM #8
Rainmaker
4,850,249
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Real estate agents who demonstrate great success will generate followers who will try to duplicate their efforts.

Jan 03, 2017 05:02 PM #9
Rainmaker
2,276,452
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's a fascinating topic, Alexandra!  I do think those who are successful will have others trying to copy their methods.

Jan 03, 2017 05:17 PM #10
Rainmaker
2,276,452
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Ron and Alexandra, on having this blog FEATURED in the Old Farts Club group!    

Jan 03, 2017 05:18 PM #11
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Isn't that what the big law suits of Apple against Samsung were all about, only  they went one step further.

Jan 03, 2017 05:48 PM #12
Ambassador
3,495,796
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Ron and Alexandra- I'd never noticed that re: Kors and Coach but now that you mention it, I have a friend who has always loved Coach but I noticed several years ago that she had purchased some Kors pieces. 

Jan 03, 2017 05:58 PM #13
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Myrl Jeffcoat Thank you, we always appreciate that.  Wishing you a delightful rest of the week.  A

Jan 03, 2017 09:30 PM #14
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathy Streib The last Coach bag I had was in the 80's, and I grew tired of its heaviness, at which point I gave it to a friend who loved the brand.  I have never warmed up to Michael Kors products in any itereration.  He knocked off Chanel, Hermes, Vuitton, and ad nauseum.  I trend towards buying innovators !

Jan 03, 2017 09:33 PM #15
Rainmaker
2,586,022
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning A.  Depending on what I'm looking for I buy from the ones that thought up the product not what I would call knock offs

Jan 04, 2017 03:36 AM #16
Rainmaker
2,152,515
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I see this often and businesses definitely have to have a certain service or niche that nobody offers to be more successful.

Jan 04, 2017 06:20 AM #17
Rainmaker
1,322,686
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

If you want to be a success, copy those who are successful and fund small areas to improve!

Jan 04, 2017 07:39 AM #18
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

James Dray we heartily agree with you.

Jan 04, 2017 07:48 AM #19
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeffrey DiMuria 321.223.6253 airRErealty.com I would say it differently.  Learn from the competition and find what is inimitable about you and focus on that.  A

Jan 04, 2017 07:49 AM #20
Ambassador
3,900,422
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I noticed that the buzz purses this season were MK and Kate Spade. Coach took a backseat in Clarksville, TN.

Jan 04, 2017 10:43 AM #21
Rainmaker
3,949,144
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debbie Reynolds yes, you snooze, you loose.  According to the sales people at one of the Nordstrom's we frequent MK's purses did not hold up, and they had a lot of returns due to defects.  He recently had one of his biggest investors leave because he felt that the brand had reached its peak.  

Jan 04, 2017 11:27 AM #22
Rainmaker
277,032
Jeff Stevens
Berkshire Hathaway HomeServices New Mexico Properties - Las Cruces, NM
Jeff Stevens REALTOR®/Associate Broker

Interesting. I do see that in our local market. I don't know, I'm always in the mindset that it is better to stand apart from the competition. But, hey, whatever works I guess. 

Feb 02, 2017 07:20 AM #23
Rainmaker
324,406
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Interesting concept and valid points.  I am not a fan of either of those brands but I do get the idea of what you are saying and this does happen often in retail.  I think the message we need to send is that we are relevant but similar.  Some brands have more impact and ultimately staying power as we remain focused, consistent and constantly improving on our own identity. 

Feb 02, 2017 07:48 AM #24
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