Tuesday, May 11, 2010

Luxury Real Estate Marketing: Ride the Wave of Change - Part 1


Part 1: Capitalize on Trends

Apple announced that it sold one million iPads in just 28 days. That is less than one half the time it took to sell 1million iPhones which took 74 days. Over 300,000 iPads were sold in one weekend upon the release of their 3G model (anytime internet access wherever there is 3G coverage vs. the less expensive model that accesses the web in Wi-Fi hotspots only). This phenomenon has very important implications for luxury real estate marketing professionals that we will cover in a three-part blog series.

The speed at which these devices have sold staggers the imagination considering the fact that, prior to 2010, very few consumers were even aware of the category of tablet computers. However, when you assume a broader perspective, an aerial view if you will, there is a logical explanation that helps to make sense of this sales velocity.

Apple astutely spotted and capitalized on two significant consumer trends:

  1. The rapid sales of netbooks (small, inexpensive laptops).
  2. The growing popularity of e-book readers (e.g., Amazon’s Kindle and Barnes & Nobles’ Nook).

The iPad was positioned, in the mind of consumer, as a superior alternative to both of these devices, at a cost that was less than the two other devices combined.

When you anticipate trends and position yourself in the path of progress it is like catching and surfing a wave. By harnessing the power of trends you leverage energy that is bigger than just your own effort and your success rate dramatically improves.

We often recommend to clients “to go fishing where the fish are biting”. If sales are slow in one price range or one geographic area, concentrate where the movement is happening. It is of vital importance to watch for, tune into and anticipate luxury real estate sales trends in your marketplace.

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