There Are Carrots. And, Then There Are Carats!
As a luxury real estate marketing professional, it is essential to study what high net worth individuals look for from luxury goods and service providers. You can gain keen insights into providing superlative service and demonstrating superior marketing savvy by studying the top ranked jewelry brands in the world that specialize in exquisite gemstones.
According to the Luxury Brand Status Index of the Luxury Institute these are the top ranked jewelry brands for world class gemstones:
The Largest Pink Diamond- From the Iranian Crown Jewels--186 Carats
#1 Graff Diamonds
#2 Harry Winston
#3 Buccelati
Here is the criterion upon which the survey of high net worth consumers was based (with equal weighting for each category):
- Consistent Superior Quality
- Uniqueness and Exclusivity
- Making the Customer Feel Special Throughout the Entire Experience
- Famous Clientele (i.e., Oprah shops there)
To attract more high net worth clients, answer these questions and apply your answers to your own luxury real estate marketing practice.
- How can you provide more consistent, superior quality service?
- How can you offer an extraordinary promise of value that is truly unique and exclusive?
- How can you make your clients feel even more special before, during and after their transactions to buy or sell property?
- How can you let new clients know that you have worked with famous people (even local celebrities)?
What was remarkable about this survey (above) is how closely these firms were ranked—literally within tenths of points. It was reminiscent of recent Olympic venues when the difference between the Gold and Silver Medal was hundredths of seconds.
As a luxury real estate marketing professional, differentiating yourself from your closest competitors is absolutely essential. It is particularly challenging when you are among the top three market leaders, because your “DNA” can be so close to that of your competitors. But, like multi-colored carrots (the vegetable) you need to amplify what makes you differenct. Your unique selling proposition needs to be laser sharp. Graff Diamonds’ unique selling proposition is that they do not sell diamonds under one carat.
Warning! It is easy to fall into the trap of out-spending your competition to achieve top-of mind brand awareness, when the answer is most often to ut-think them. Occasionally, out-spending works to set you apart. Laurence Graff, president of Graff Diamonds recently outbid forty potential buyers for the Lesotho Promise, the biggest diamond found in thirteen years. It weighed 603 carats. His company’s slogan is we sell “the most fabulous jewels in the world”.
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