Friday, February 25, 2011

Luxetera, etc: The Joy of a Wonderful Cookbook

Last week, our dear friend, Stan Penner, gifted us with the long- awaited cookbook, Completely Delicious that he just wrote and published. This magnificent book and its outstanding recipes reflect Stan’s authenticity as a person, and as a chef who has a passion for entertaining, especially by creating intimate dinner parties for friends. If you enjoy the art of giving dinner parties or simply want to try some easy to follow sumptuous recipes, this book is for you.

An example of a recipe that you can make just for yourself is his energy shake which can be found in the drink section called “Raw Green Dinner Blast!” According to Stan, “we gave this drink to our housekeeper, and she worked nonstop the whole day. ‘I did not even eat lunch because it gave me so much energy,’ she said glowing.”

One of our favorites is shrimp curry pizza, which Stan had made for us in his pizza oven that is located at center stage in his dining room. When Ron tasted Stan’s delectable lime cheesecake, (which doesn’t take all day to make), he said “This texture is as smooth as skiing on fresh powdered snow.”

We highly recommend Completely Delicious to anyone who wants a one of a kind cookbook, and it a great gift for that special client or friend. Happy Munching.

Thursday, February 24, 2011

How to Decommoditize Your Luxury Real Estate Marketing Practice

Commoditization is one of the most important business principles to understand as a luxury real estate marketing professional, if you are interested in market leadership. Take real estate websites, for example. The key features are the same on most sites: IDX search, Featured Listings, local information (available to anyone), etc. These features become commodities. Attempting to compete, on the basis of features that are readily accessible to your competition is futile.

What is a good way to decommoditize? Very little content on agent websites is unique or original. That is why your blog is such a great opportunity to stand out. But, if your blog content is not original it too becomes a commodity. A great blog is key, but you need more de-commoditize.

Here is an example of commoditization in action. As a direct blow to Netflix, Amazon just announced that it will bundle its streaming video service with its Prime Shipping Service. Why pay for both services when you can get streaming movies free as a Prime customer. When all features are the same in a product or service category the only thing left is to compete on is price.

Over 100 tablet computers brands are expected to be launched in the near future. For all of those that will use Google’s Android platform, the only way to differentiate one from the other is by features. Once they all basically have the same features price is what gets the axe. Soon smart phones and tablet computers will be given away as part of a bundle of other services.

We are not suggesting that you should offer lower commission rates to become more competitive. We are suggesting that you develop a value added service that renders your competition irrelevant.

In China, which is now the world’s largest market for computers, Apple is planning on opening 24 new stores. In Shanghai, 40,000 people come to the Apple store every day. With the high caliber of services offered at the stores, including classes and access to staffers who can answer your questions in person, the value added to your purchase runs circles around the competition.

How can you de-commoditize your luxury real estate marketing practice? Make your competition irrelevant by adding an extraordinary promise of added value!

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Wednesday, February 23, 2011

Luxury Real Estate Personal Branding: Do You Like My Brand?

As consultants in personal branding for luxury real estate marketing professionals we are often asked: What do you think of my brand identity, do you like it? Please critique it! Thinking through these kinds of questions has yielded some very important insights that could very well apply to your own luxury real estate marketing practice.

When we owned our commercial real estate firm in West Los Angeles, a major restaurant chain opened within a couple of blocks from our office building. We had never even heard of the chain so we were open-minded about it. If you know LA you understand that not having to get in your car to drive to a restaurant for lunch was a luxury. After several attempts to find something on the menu that suited our palate we were completely unsuccessful.

Our knee-jerk reaction was to criticize the restaurant. But, then it occurred to us that we were completely off base in our criticism. In a flash, we realized that we simply are not the target market for these restaurants. Thousands of people love them or they would not be in business. Why were we wasting our mental energy with criticism? It seems like criticism and witticism were one and same until we realized that criticism is a dead end for yourself as well as the subject of your critique.

When we applied this to the personal branding question we understood what it takes to be objective in our critique:

1. A luxury real estate personal brand identity must communicate the authentic self of the agent.

2. It must embody the essence of one’s personality and values.

3. It must factor in the target market, i.e., to whom are you communicating

If all of these factors are aligned the brand identity does its job. It becomes a silent salesperson on your behalf. Therefore, you must have access to all of this information to determine if someone is on their brand signal or off their signal. That is the only critique necessary. If you are not part of the target market, your personal opinion is irrelevant. The only question is how successful is the brand in being on signal, like dialing into a radio station, it must be static-free to be on signal.

Think about the home sellers who ask you what you think about the aesthetics of their home when you are in a listing presentation. Now, there is no reason to break into a song and dance about it. It is ok to say that you are not the potential buyer for the home. But, you are an expert at targeting those who are.

P.S. That restaurant went out of business within a couple of years after spending a tremendous amount of money on furniture, fixtures and equipment. It evidently was not resonating with others in that marketplace because their brand signal and the market were not a match.

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Tuesday, February 22, 2011

Luxury Real Estate Website Design: Flash = No Cash

Photo by Jirkacafa

Drawing a Blank? We Can Help!

This weekend we researched over 30 luxury real estate agent web sites on our iPad. We were appalled tp discover that 75% were using Flash slide shows on their home pages and/or Flash videos . Flash equals no cash!

Apple mobile devices do not display Flash elements. If you still have Flash slide shows or Flash videos on your website you could be losing business! If consumers using iPhones and iPads draw a blank when they reach your site (especially your listings) you competition is just one click or tap away!

Market Analyst Maynard Um of UBS Investment Research forecasts that Apple could sell 28 million iPads in 2011, and warned this figure could be “conservative”.

Apple's total iPhone user base may reach as high as 100 million users by the end of 2011, according to Morgan Stanley analyst Katy Huberty

We offer alternatives to Flash that can give you the same elegant effect and also Flash video conversions. Before you hear complaints from your clients, contact us for a complimentary consultation.

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Saturday, February 19, 2011

Book Review: Surviving Your Serengeti

Two years ago we had the privilege of reading one of the very first drafts of the new book penned by our colleague and dear friend Stefan Swanepoel. When we were together discussing his vision for the book he showed us his own amazing videos of the Serengeti migration and shared his passion about his native land. The evolution of this master work has been exciting to watch and be a part of as it has unfolded.

For years Stefan has empowered US and international business leaders to make strategic decisions by identifying, distilling and brilliantly articulating the major trends in the real estate industry. Now, in Surving Your Serengeti, which can be read in just a few hours, he has identified the 7 essential skills required to overcome any adversity and thrive in business and life.

By making parallels between the dominant survival skills of the animals of the Serengeti and personal skills, he has made it easy to determine your own strengths and also recognize the strengths of your co-workers, by devising this quiz. This is a must read for business leaders, team leaders and anyone whose job it is to bring the best out of those with whom they live and work. We highly recommend it for luxury real esate marketing professional around the globe.

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Thursday, February 17, 2011

Luxury Real Estate Personal Branding: The Self-Discovery Process

We are often asked this question: What is most exciting and rewarding about working on personal branding with luxury real estate marketing professionals? In every single case it is the process of guiding our clients through a journey of self-discovery and also developing a customized marketing strategy based on these findings that is a perfect fit.

Aesthetic style preferences play a big part in crafting your personal brand. But it requires knowing yourself. That is why the process of personal branding is one of self-discovery. At the very least the process reaffirms and validates what you already know about yourself, which is an important clarifying experience as well.

Which would you prefer and enjoy the most: Living in a log cabin in the mountains or an urban chic, minimalist New York City loft in a high rise? Each of these settings would represent a means of self-expression. Providing that you chose one over the other based on your own genuine opinion and were not just trying to please others, the living space itself would reflect your personal values and your personal preferences.

If your brand identity accurately summarizes and symbolizes your personal values, your personality and your personal preferences and also distinguishes you from your competition, it will attract and resonate with likeminded consumers. It will also accelerate the speed of trust and referrals because people like to do business with and recommend people like themselves. The faster they recognize that you are like them the more likely they are to do business with you. That is what a great personal brand does. But, it all begins with the discovery process.

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Wednesday, February 16, 2011

Luxury Real Estate Branding Case Study: Ernie MacManus Group

This Video Can Also Be Viewed Here

This is the branding case study of Ernie MacManus, a luxury real estate marketing professional in the Northern San Diego County area. Ernie has a unique background as a successful stockbroker and lender. A perennial entrepreneur, he has launched The Ernie MacManus Group, a high performance real estate brokerage company.

Luxury real estate web design is an integral component of the personal and company branding process. Check out www.ErnieMacManus.com and introduce yourself to Ernie!

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Tuesday, February 15, 2011

Luxury Real Estate Personal and Company Branding: Is it Time to Refresh Your Brand? Part 3


Photo by Pod666

Check Out Part 1 & Part 2

Become the Iconic Brand of Your Marketplace

If you have not refreshed your brand in the last seven years, now is the time! Creating a brand identity symbolized by an iconic logo can give you a terrific competitive advantage in your luxury real estate marketing practice.

Think of the iconic logos that have been engrained in your psyche as you have grown up. If you see a silhouette of a large solid black circle with two smaller black circles connected at the top left and top right of the larger one what comes to mind immediately? How about a black and white silhouette of a rabbit with a bow tie or a black “check mark” against a white background or an apple with a bite missing? You did not need details or color to recognize Mickey Mouse, the Playboy Bunny, the Nike Swoosh or the Apple logo. It is this instant brand recognition that makes a logo iconic.

How long did it take you to recognize the museum depicted above? This is the Guggenheim museum in New York, Frank Lloyd Wright’s last major work. Like the Eiffel Tower in Paris, the shape alone is iconic. It took Wright 700 drawings to create this masterpiece of modern architecture that polarized architectural critics and thus created tremendous buzz.

Although the museum is not a logo, we purposely intensified the contrast in the Guggenheim image to illustrate this extremely important principle: If your logo can communicate the essence of your brand identity in black and white, like a silhouette, without much detail you are heading in the right direction. If it can be remembered quickly, after the passage of time, by your target market, with minimal previous impressions, you have a potential “hit” on our hands.

One glance at the Guggenheim and the impression becomes indelible in your mind. This is the ultimate goal in creating a brand identity, providing that the identity precisely communicates your authentic essence, what you stand for. The better the brand identity the fewer impressions it takes for consumers to achieve brand retention.

Whether you need a complete brand identity make-over or are ready to refresh your brand understand the incredible opportunity to secure the competitive advantage by making an indelible impression. Don’t be afraid to become the iconic brand of your marketplace.

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Monday, February 14, 2011

Luxury Real Estate Marketing: Love and Marketing Ingenuity

xury Real Estate Marketing: Love and Marketing Ingenuity (edit/delete)

The Chinese have their version of Valentine’s Day in August (August 6th, 2011) known as Qi Qiao Jie. Kentucky Fried Chicken has introduced February 14th as an additional day to celebrate Love. In 1999, a KFC franchisee in Hong Kong bought the rights for a Portuguese egg tarts from a bake shop in Macao, and began selling them in his restaurants on the Mainland in 2004. The dessert is very popular daily and on Valentine’s Day they sell three times as many.

This year this entrepreneur is running a “love song” promotion this year. People can select the song of their choice on line, reserve a date and time at a specific KFC, and when they get there, the restaurant will play their song.

After all, why not celebrate Love twice a year or better yet every day?

Is now the time to refresh your brand?

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Friday, February 11, 2011

Luxury Real Estate Personal and Company Branding: Is it Time to Refresh Your Brand? Part 2

Tiffany Clock in New York photo by Affagundes

In Part1, we asked: "Is It Time to Refresh Your Brand?"

Here are five questions that will help you evaluate if it is time to refresh your brand as a luxury real estate marketing professional. If you answer no to any of these questions the time to refresh your brand is now!

Is your Promise of Value Extraordinary?

Do you blend in or stand out from your competition? Can those who know you well tell their friends, or even people they meet for the first time, how you are distinct from your competition in a few sentences, ideally, in one or two words? Here is how this plays out: AT&T or Verizon? Verizon has fewer dropped calls! Stated in two words: Verizon = “reliability & coverage”.

Does Your Visual Image Communicate Your Distinct Value Proposition?

Can you conjure in your mind Verizon’s red image of the US map that shows its superior coverage to AT&T?

Is Your Branding Consistent Throughout All of Your Online and Print Marketing Materials?

Think Tiffany: Blue box, blue shopping bag, and blue website. Check out their newly refreshed website.

Is Your Website Content Current, Relevant and Pithy?

Pithy means clear concise and to the point.


Have You Reviewed Your Marketing Strategies Lately?

If market leadership is your quest you must become a triple threat to your competition, offline, online and through superlative relationship management everywhere. Offline strategies apply to one aim: achieving “top-of-mind” status among potential home sellers and referral sources. Online strategies apply to attracting more buyers than your competition. Relationship management strategies can make you; weak strategies or none at all can break you.

When brand refreshment is done right it gives those who already know you a compelling reason to talk about you. As a company it can revitalize your team’s spirit. Is now the time to refresh your brand?

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Thursday, February 10, 2011

Luxury Real Estate Personal & Company Branding: Is it Time to Refresh Your Brand? Part 1

When is it time to refresh your brand? You definitely should re-think and refresh your branding at least every seven years. This applies to luxury real estate marketing agents and brokerage companies as well. Brands need to evolve and keep up with changes within their target market and also learn to reach new audiences. A good example of a complete brand makeover is Abercrombie & Fitch.

In the late 19th century Abercrombie & Fitch was a very high end sports outfitter to the rich and famous. If you were about to embark on an African safari and needed a pith helmet or an elephant gun A&F was the place to shop. Today, they sell mostly clothing to 18-22 year old consumers with over 300 locations in the US and abroad.

However, this was a brand that was literally resurrected from bankruptcy when, in 1977, Oshman’s Sporting Goods acquired the defunct firm’s name and mailing list Then, in 1987 The Limited, a clothing retailer, purchased the company because they spotted an underserved retail market niche that they could serve better than anyone else by refreshing the brand. That niche was “Preppies”.

Women's Wear Daily calls Abercrombie & Fitch clothing classically "neo-preppy", with an "edgy tone and imagery". A&F describes this market niche as an aspirational “Casual Luxury”.

In Part 2 of this series, we will discuss the 5 Ways to Refresh Your Luxury Real Estate Marketing Brand.

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Tuesday, February 8, 2011

Luxury Real Estate Marketing: How Do You Define Quality?

Superlative luxury real estate marketing requires an understanding of what constitutes quality not only n home construction, architecture, design and furnishings, but also the finer things in life in general.

We have been looking for a definition of quality that applies both to objects and to service. Here is the best definition we have found so far on the subject of quality.

Quality is never an accident: it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives.”

John Ruskin (1819 –1900) was an English art critic, social thinker, poet and artist.

What is your definition of quality? Let us know.

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Luxury Real Estate Marketing: What Is the Secret Ingredient?

Recently, we received this email from an agent: " What would you say is the secret ingredient to succeeding in the luxury real estate arena?"

Here is our answer:

The secret ingredient is impeccable communication skills, and manners. Communications and manners are two sides of the same coin. We all are taught manners and communication skills as a child and learn more as we encounter situations in life and work, so what is the big deal? The big deal is "impeccable". Webster's defines it as, "(of behavior, performance, or appearance) In accordance with the highest standards of propriety; faultless."

Impeccable communication and manners inspire trust and confidence. Any newbie with impeccable communication can outsell a seasoned grouchy veteran. We saw it happen in a luxury car dealership, where a newbie (just hired. first time in car sales) outsold everyone on the floor in her first week on the job, even though she knew just enough about the cars she was selling.

We have a friend in Napa who worked for one of the prestigious vineyards as a host and manager of their events. He is communication virtuoso. At an event a dignitary from another country noticed his skills and asked him if he would be willing to become the head butler in their embassy in Washington. He was delighted and accepted. He enrolled into butler school. Now he runs the embassy's social events and is the liaison to the other embassies.

You can be a virtuoso. Webster's definition is: "one who excels in the technique of an art; especially : a highly skilled musical performer (as on the violin)of excellent communication."

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Luxury Real Estate Marketing: Are You Social Media "Cool"

This morning's Wall Street Journal reported a new phenomenon that has been emerging in Social Media: ranking "users on their Social Media clout.

Just like a credit score, there are points given from 1-100, and the key to keeping your score higher is to demonstrate your influencer status. Companies like Klout, Peer Index (refers to what they do as "the S&P of social relationships") and Twitalyzer amass data from Twitter, Linked and Facebook. They enter the data into their parameters and then come up with scores to decide whether or not you are important enough to be deemed an influencer.

The purpose of this indexing is to help others know who to trust on line, and also help marketers identify who would be a good promoter of their brands. Will having a high influencer score make one the Pied Piper of real estate and lead hordes of potential buyers and sellers to your door? Does that really indicate one's integrity or trustworthiness?

What do You think? We would love to hear from you. Happy Tuesday!

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Thursday, February 3, 2011

Luxury Real Estate Web Design: 3 Ways to Create a “Sticky” Website

Rodeo Drive, Beverly Hills

Q: We are often asked," In luxury real estate web design, how do you create a "sticky" website?

A: Think of your website as a fine luxury goods retail store on Rodeo Drive in Beverly Hills, where millions of dollars are spent on a storefront alone, to lure customers in the door. The interiors are designed to help keep them in the store and encourage them to buy. The longer they stay the more likely they will buy. The store owners want customer to "stick around" and also look forward to coming back. That is what is meant by "sticky". Not all luxury real estate markets have this high profile. Most are much more low key, especially in vacation destination areas. But, keep these three key guidelines in mind to create a sticky website for marketing luxury real estate:

1. “Simplicity is the ultimate form of sophistication”—Leonardo Da Vinci. A website needs to be easy to navigate for visitors as well as your current clients. The faster a visitor is able to reach what they came into “your store” to find the more satisfied they will be and the more likely they will return.

2. The Pajama Rule: However, handsome or gorgeous you may be, we don’t advise that you have your picture on your home page. How do you feel when you walk into a store and you are accosted by one sales person after another, over-eager to “serve” you? The best web sites today are self-service stores that encourage the visitor to reach out to you for help, when they are ready. One of our clients decided to do a survey with her loyal clients. She asked them about her picture being omnipresent on her website. One of her best clients said, “I love working with you. However, I do not want to see your picture, when I am searching for properties on your website in my pajamas. It feels like you are looking over my shoulder.”

3. Keep your home page clutter-free. Attract, don’t distract. Motion graphic links to schools, the weather report, the chamber of commerce, the ski report, the fishing report, the local news feed, sellers’ reports, buyers’ reports, and market reports, all of these items tend to distract the person who is interested in seeing properties. Links are wonderful if organized properly; otherwise they distract and cause people to forget why they came into your store to begin with.

Imagine you are your own customer and you just walked out of your store. Conduct your own “exit poll”. Ask yourself these two questions: Did you get what you came for? Was it a rich and satisfying experience?

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Wednesday, February 2, 2011

Luxury Real Estate Personal Branding: Does This Reflect Me?

Q: Here is a question we sometimes hear when we are crafting a personal brand identity for clients who market luxury real estate: What is more important: Whether I really like it or my friends and family like it?

A: Here is our answer: Your brand identity, meaning your logo and overall graphic brand package, must be a reflection of the essence of your personal priority values and it must resonate with the priority values of your target market. People who are more self-referred will attract others who share this priority value. The same applies to those who rely more on other’s opinions.

So you see, there is no right answer for everyone. As two predominantly self-referred individuals this was an important lesson to learn for us when advising our clients. It is something to keep in mind when you are advising your luxury real estate buyers and sellers.

Some people tend to defer more to the opinions of others around them, especially those who are close to them, rather than being more self-referred. This is fine, if keeping the peace creates a more tranquil environment that is actually empowering. One tendency is not better than the other if the net result is personal empowerment in the long run. When the “waters” are tranquil around you, your reflections are the clearest and so is your personal brand signal.

For some, asserting their own opinion is not worth the strife it can cause in their immediate environment. If there is discord around you because the opinions of others are causing interference with your brand signal you may be disempowered. Keeping the peace does not necessarily mean you are losing your personal identity. It means that standing firm is less important at a given point in time when taking everything into consideration.

Here is a better way of looking at this question: Is your brand identity, doing its job as a silent salesperson for you? What sells you the most is your own clear brand signal.

People like to do business with people like themselves. Discover your own priority values and you will be sure to attract an abundance of clients with like values.

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Tuesday, February 1, 2011

Luxury Real Estate Personal Brand & Web Design Case Study: Courtney Ranson

Check Out: www.DenverWashPark.com

Luxury real estate personal branding is not just about creating an attractive new look for your website and print collateral. While it is important to stand out from your competition with superior visual imagery, a personal brand identity is much more than putting on an attractive new outfit. Your personal brand must stand for something that resonates with the needs and values of your target market.

If you strike the right chord you will spark a deep positive emotional response from potential clients and referral sources who feel an instant connection with you on their first encounter. Done right, emotional branding can accelerate the speed of trust and referrals.

This video above is the personal branding case study of Courtney Ranson in central Denver. It truly demonstrates the high impact of emotional branding.

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