The luxury goods market is conservatively estimated to be 359 billion dollars. It is actually up 6% from last year, according to American Express. After a long period of not spending luxury buyers are obviously getting over their “frugal fatigue which bodes well for those engaged in marketing luxury real estate.
It seems that every study from Harris Interactive to the Wharton School of Business emphasizes the importance of building a lasting relationship with your clients and prospects. Prospective clients are looking for a positive, memorable experience. They may not be ready to buy now, but they still expect you to exceed their expectations by providing them with amazing interactive experiences that you offer (online and offline) even prior to a sale or direct contact with you.
Any one of your competitors can inform their clients about what is happening in the market. But, how much interest is there for that on a continuous basis. Stand out! Don’t just send updates on new homes that come on the market! Send interesting articles about the community, new restaurants or gallery openings.
Better yet invite selected members of your sphere of influence to an art gallery opening, or a special museum exhibit. Word will get out that you are strikingly different. A warm and friendly experience increases trust which means your chances for referrals are that much greater.
Make your contacts fell like they are a part of your “In” crowd. Share with them your special secrets and insights. They will see you as the “go to person”. Emulate the ways that luxury retailers are interacting with their customers by making them part of their “In” crowd.
For example, the designer Kate Spade reveals what inspired her designs with her “special clients”. She has a section on her website called, “Behind the Curtain”. This catalogues her influences, her interests and what she thinks is “hot”. Her comments serve to build relationships with her customers and engage them in conversation.
Recently Chanel rewarded their fans on Facebook by previewing their Chanel “Rouge Coco Shine” lipstick collection and offering them the opportunity to buy it online prior to its debut in retail stores.. The “avant premiere” was featured exclusively for Facebook fans just for two days-- 4/7 & 4/9.
Ralph Lauren released their second interactive children’s story narrated by Uma Thurmond. (See previous post). It is an enchanted story that also prompts readers to buy their new products.
Donna Karan has a column on her website called Donna’s Journal, which includes topics such a women who inspire, the Urban Zen Foundation, DK talk, and ask Donna. The notable here is the Urban Zen foundation
“The Urban Zen Foundation creates, connects and collaborates to raise awareness and inspire change in the areas of well-being, empowering children and preserving cultures. We design forums, partner with existing organizations and bring together experts to define solutions and implement action.” Ten percent of the sales of Karan’s Urban Zen collection is donated to the foundation.
How can you make your existing and prospective clients part of your In" crowd?
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