In the arena of luxury, or any other real estate marketing, the entire competitive landscape needs to be redefined. Of course, competence matters. What matters most is occupying the top of mind status in your marketplace. This is the fundamental tenet of marketing!
Whoever wins the competition for attention (who stands out the most?) and the competition for retention (who is remembered first?) will get the lion’s share of business. Attention and retention go hand in hand.
One of our clients was often critiqued for having a billboard at each entrance of the marketplace. Some said that this was money foolishly spent!
If you asked, any one in town including a visitor, each one knew our client's name. And to this day, our client continues to be the top producer. Those billboards are still paying dividends to this day.
This is the paradigm shift that needs to happen in real estate marketing. The difference in market share is, in reality, MIND-SHARE! The competitive playing field is actually in the minds of the target market.
I am a big fan of Barbara Todaro's marketing style. If we were to poll Franklin, Mass., citizens, the Todaro team would come to mind. The Todaro team has mind share in that community. Mind share is well worth spending marketing dollars on.
Very few agents understand this concept which opens up a tremendous competitive advantage for those of you who want to become the “break-away brand” in your marketplace.
Understanding that you are competing for the ATTENTION of your target market in a time starved, attention deficient world will change your entire approach to marketing and branding. In our strategic branding practice, we use the expression. Stand Out or Bow Out!
People do not have time to pay attention to a lesser known brand that “blends in”. The agent, who COMES TO MIND FIRST, the personal brand that wins the battle of RETENTION, dominates the marketplace, period!
Postcard marketing, or buying billboards may not be the way to get mind-share in your market. You have to really understand the mind set of that community.
Keep in mind that the agent who comes to mind first becomes the dominant player in the marketplace. Are you the first, to come to mind in your marketplace?