Focus is the name of the game in luxury real estate marketing and branding today, particularly because internet marketing, an inescapable component of any successful marketing plan, is all about “expertness” on a given subject or category of business. Selecting and dominating an uncontested market niche is the fastest route to market leadership and top-of-mind status.
In business, niches are categories of products and services. The majority of people can only hold one or two brands in their mind in a given category. What is the first facial tissue that comes to your mind? Can you see the importance of being Kleenex, the category leader, the top-of-mind brand that commands the lion’s share of revenue in this product category?
If you wanted to gift a client who was interested in hand blown glass sculpture which artist would come to your mind first? If you didn’t know any of these artists, you most likely would ask a friend. If your friend didn’t have an answer you would probably turn to Google.
The glass sculpture tree depicted above by Dale Chihuly is the first image displayed on Google using the search term “glass sculpture”. Chihuly is, by far, the category leader. And, he not only is a master glass sculptor, but also a brilliant marketer. His major exhibits are often staged outside and his publicity is extensive.
Essentially, Dale Chihuly identified an uncontested market niche that he could dominate, a niche about which he is quite passionate. By popularizing the virtually unknown sub-category of contemporary style, he made glass sculpture more accessible and more appealing to more people than traditional, functional Venetian glass sculpture. This is Chihuly’s extraordinary promise of value that catapulted him to top-of-mind status and to high volume sales. He "owns" the contemporary micro-niche sub-category of hand-blown glass sculpture that previously was not on the radar of mass consciousness.
So don’t blow it by being a generalist! Identify an uncontested market niche that you can dominate with passion in your luxury real estate marketing practice.
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