Monday, July 30, 2012

Luxury Real Estate Marketing Tips: Three Tips to Unleashing Social Media Power

Are people following your luxury real estate marketing blog? Are they watching your videos? If you do it right, you can build an entire personal brand and a large audience around your blog and videos. However, if your content is ordinary, meaning unoriginal or generic (content available on many sites and from many other sources) or just outright boring, you will not stand out as a worthwhile read.

You may at some point become number 1 on Google, (thanks to your SEO and the Google’s robots that drill the web), but will that number 1 equal referrals and new buyers/sellers? Will the reader of your posts bookmark or subscribe to your blog, and come back to read your next installment? Google has been besieged by complaints that they are ranking sites with “canned” content higher than those with meaningful “original” content. Google has responded by making changes in their algorithms that are aimed at sites with what it calls "low quality" content: just enough information laden with keywords to appear in search results. If your luxury real estate marketing web pages or blog posts fall into this category of low quality, beware! Your natural search engine ranking could slip.

Here is a recent example of the power of original content. According to an article in the Wall Street Journal, last Monday, an eight year old novel, Cloud Atlas was ranked 2509 by Amazon. On Friday, it moved to 7. The meteoric rise was attributed to Apple releasing the trailer to the movie on its iTunes website.

"Almost as soon as the trailer went up, we saw chatter on Twitter and sales on Amazon really jumped," said Jane von Mehren, publisher of trade paperbacks for the Random House Publishing Group, a unit of Bertelsmann AG's Random House Inc.

“To cash in on the renewed interest, Random House has ordered a new paperback printing of 25,000 copies, to hit stores before a special movie-tie in edition of the book is released in September." WSJ

The trailer which is 6 minutes long is a buzz worthy video, which translated into sales and results. How can you translate your blogs into referrals and leads? Here are 3 tips:

1. Write content that is useful, relevant, fresh, and informative for your marketplace

2. Write content that is uplifting and newsworthy

3. Write content that is comment worthy, follow worthy and share worthy

Generic luxury real estate blog content indicates that the blogger lacks imagination and therefore lacks the marketing savvy required to win listings or sell expensive homes. Remember this: robots have no sense of humor; they leave no comments and do not share. They do not get uplifted. But, they do know when your content is fresh or original! Focus in on those tips and see how you can improve the quality of your content, and you unleash the power of Social Media.

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Thursday, July 26, 2012

Luxury Real Estate Branding: How Strong is Your Brand Recognition, Part 4

Countdown Olympic Clock/Photo by Alison 14

As a luxury real estate marketing professional, the key to building strong brand recognition is associating you or your company with a category or niche that exists not just in your marketplace but also in the minds of your target market. Studies have shown that most humans typically hold up to 3 brands per category at most in their minds. If you do not come up as top-of-mind in a category your market share or lack thereof, will usually reflect this important branding phenomenon. Try some 15 second categories quizzes to get more of the idea of how this plays out.

How many brands come to your mind in just 15 seconds when you think of:

  • Smart Phones?
  • Cellophane adhesive tape?
  • Singing-only talent competitions on TV?

As we approach the opening day of the Summer Olympics in London, only 3 medals will be given out in each sports category: gold, silver and bronze. The majority of us may remember the name of the Gold medal winner long after the event. But, will we remember the names of the silver and bronze winners?

In the men’s swimming competition what is the first name that comes to mind? Can you think of another? Michael Phelps who has 14 gold medals and two bronze will most likely come to mind first rather than Ryan Lochte who has 3 gold medals, two silvers and one bronze. Can you think of the third swimmer in this category?

Luxury real estate marketing professionals often underestimate the importance of achieving top-of- mind status in a specific category. What is at stake in reaching the top? The lion’s share of the business in your category! Focus on and conquer a single category or niche within your marketplace, then expand from there.

Become identified with that category, and you will experience a significance spike in business. If you already enjoy top-of-mind status, beware! Do not get complacent. A challenger may be right behind you who is bent on increasing its brand recognition strength and market share at your expense.

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Monday, July 23, 2012

Personal and Company Branding: How Strong is Your Brand Recognition Part 2

Photo by Valentino Vicentini

Instant recognition, of your personal or company brand in marketing luxury real estate, is the ultimate goal of banding. The fastest route to achieve this top-of-mind status is by specializing in a particular category or niche within your market place and becoming identified with that category. An example would be the waterfront property expert.

In part 1 of this article series about brand recognition, we demonstrated the speed at which the mind recognizes an iconic brand. What is not as obvious, however, it the speed at which we categorize, or pigeon hole that which we observe in order to give it a context. The ultimate goal of branding is to become top of mind in a category. James Bond’s 007 enjoys top of mind status in a specific category or genre of films-spy thrillers. Can you think of any other lead characters in this film niche? How about Jason Bourne in the Bourne Identity, or Ethan Hunt in Mission Impossible?

Spy thrillers are a sub-category or a niche within the large category of action adventure files. For example there are numerous action adventure heroes such as Batman, Spiderman, Superman, Ironman, X Men and the Incredible Hulk. James Bond is an action hero. But, would James Bond be associated with this same group of characters?

Try another category! When you think of late night talk show hosts, who comes to mind? Did you think of Jay Leno or David Letterman? How about a daytime talk show host? Did Ellen or Oprah come to mind? Notice that Oprah did not come to mind in the late night category.

Our minds think in categories, whether it is products, services, plants, animals or entertainment. That is why it is so important for you as a luxury real estate marketing professional to stand out and become known for some specific niche within the minds of your target market.

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Friday, July 20, 2012

Personal & Company Branding: How Strong is Your Brand Recognition?

The branding goal for luxury real estate marketing professionals is instant brand recognition. When you first saw the image above in this post, what thoughts came to mind? First, did you recognize the brand? If so, how long did it take you to recognize it? If you are like most people who are attuned to popular culture you know that this is James Bond’s logo and you recognized it in a Nano-second.

Isn’t it amazing how three numbers and a gun can communicate such a potent message? That message is spy story (suspenseful action-adventure with international intrigue). It conjures images of the main character in the story that has mass appeal. He is an archetypical action hero who is suave, debonair, charismatic, sexually attractive, a lady’s man, with tongue-and-cheek humor, who is bent on protecting mankind from evil.

Likewise, the words, “double 0 seven” have a similar impact. So do the first seven notes in the James Bond sound track (brand perfection in 7 notes). That image, the words and the sounds have made an indelible impression in your mind over the years and will likely be accessible to your recall for life. That is the power of branding!

This is the 50th anniversary of the famed James Bond franchise. The 23rd James Bond film, Skyfall, is coming out this winter, starring Daniel Craig. The James Bond fan club is global. Are you thinking of seeing it?

Marketing luxury real estate at the level of market leadership requires that you establish an indelible brand in the minds of your target market. It requires instant brand recognition to sustain market leadership. How strong is your brand recognition?

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Wednesday, July 18, 2012

Luxury Real Estate Branding: Do You Need a Brand?

Do you need a brand for your luxury real estate marketing business? You need a brand if you are in pursuit of market leadership in your chosen niche. A clearly articulated brand facilitates referrals and decision-making on both sides (sellers/buyers) of the real estate game.

Like it or not, we are branded from the moment we are born. Brands are labels; they are a shortcut and a time saver for the mind. They are so obvious that we take them for granted. They become invisible.

The moment we look at someone, our mind’s computer begins to assess and pigeonhole. The more we are pressed for time the more we rely on snap judgments.

With products and services, once we pigeonhole a product or service in a category we equate the category and the brand. And, we only have room for a few products or services in each category, at least from the standpoint of being able to readily recall the brand name. The goal of branding is to achieve top-of-mind status in that short list of products or services within any given category.

To stand out and reach the top of the list you have to make it easy for others to communicate about your brand to others. That is the challenge of branding. It is all about making a compelling case to be at the top of the mental list, in your category, for your target market. If they are convinced that you should be at the top of their list, you must empower them to convince others.

Think of a brand that you like. What would you tell someone about it? How did that brand get to the top of your list? Getting to the point where one wants to refer you requires a continuous strategy and marketing plan that secures your brand recognition and your dominance in the marketplace.

Tiffany’s is the quintessential luxurious American brand when it comes to engagement rings. That is an example of equating a brand with a category. In the minds of young women about to be engaged, Tiffany’s is the place to go. It is at the top of the list in the engagement ring category. Tiffany’s has cultivated that top-of-mind status through brilliant strategy on all fronts. Last year, they premiered their now successful interactive site, What Makes Love True, solidifying their position as the premiere place for engagement rings.

Are you on the top of the list in your category for marketing luxury real estate? Or, do you need a brand?

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Monday, July 16, 2012

Luxury Real Estate Branding: What Color is Your Tomato?

In order to understand branding in the realm of luxury real estate marketing, it is important to understand brand categories. If market leadership is your quest, as a luxury real estate marketing professional, the key is to select a brand category or sub-category in your marketplace that you can dominate.

Here is a simple illustration of brand categories. The above picture shows a variety of heirloom red tomatoes with yellow stripes. If all of real estate could be classified as a tomato, then the heirlooms could represent luxury real estate. In the kingdom of heirlooms, there are many heirloom varieties.

This photo shows a darker red heirloom with green stripes, and beside it is the yellow heirloom with red striping. These three varieties could be classified as sub-categories in your marketplace. If yellow tomatoes represent luxury condos, the opportunity here is to be the king/queen (the yellow tomato) of the luxury condo market.

The differences in the DNA makeup of these categories are minor, but the characteristics in terms of shape, color and flavor are distinctive. The heirloom tomato’s target market is discerning tomato lovers in general, but each customer has their preferences. The key to branding is to clearly amplify the difference so that the customer looking for sweet, low acidic tomatoes, for instance, can quickly be matched with the right brand, yellow tomatoes.

Buying from or listing with a dedicated specialist gives your client confidence, that they are dealing with an expert. Branding therefore, accelerates the selection process in a sea of choices, and saves time for everyone.

What color is your tomato?

Thursday, July 12, 2012

Marketing Luxury Real Estate: The Agelessness of a Championship Mindset

Photo by Lucy Clark

Unlike some professions marketing luxury real estate is a game you can play at the level of market leadership at any age in your professional career. However, It takes the mindset of a champion and the championship mindset is ageless.

Both Serena Williams and Roger Federer have proven that point at this year’s Wimbledon Tennis Tournament. Serena became the first woman over 30 to win a Grand Slam title since Martina Navratilova over 20 years ago. And, she did so against odds that she would not return to the sport due to health problems. Federer looked like he peaked back at the Australian Open in 2010. Now, he is number one in the world, again.

What motivates a champion? What did these two tennis champs have to prove to the world? Sure it feels good to the admiration of peers and fans alike. But, a true champion has a core inner conviction to be the best he or she can be.

Market leadership is a game that requires strategy to gain or sustain the championship level. First, it requires identifying the winning formula to out think your competition. Then, it requires the consistency of repeating the winning formula over and over again.

But, without the mindset of a champion there is no strategy that can get you there. What is that mindset? It is a mental state devoid of self-doubt. It is a singular focus on a desired outcome that necessitates quickly releasing contradictory thoughts, accessing memories of previous triumphs and maintaining the perspective of what is at stake.

In our professional practice, as brand strategists to luxury real estate marketing professionals, we work exclusively with market leaders or their challengers. Our clients are those who already have the mindset of a champion or are reaching for it regardless of their age. Like Federer and Williams, they are true inspirations.

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Wednesday, July 11, 2012

Personal & Company Branding: What Is Your Unique Promise of Value?

In marketing luxury real estate you only have a Nano-second to capture the attention of your ideal clients and communicate your unique promise of value. If your message promises to solve a problem or add significant value you have the best chance of gaining a new client.

When your branding is spot on it is your shortcut in this communication process. Your personal or company brand must send a clear, succinct message to your target through words, symbols and sounds, a message that must encapsulate the distinct benefits that will be derived from doing business with you vs. your competition. Identifying, then distilling your unique promise of value into a concise message is an art. Here is an example of one company has mastered this art.

Coffee is one of the most ubiquitous commodities in the world. As such it poses one of the biggest branding challenges on earth. We give Seattle’s Best very high praise for breaking through the clutter and standing out in this highly competitive food category.

They came up with a suite of 5 different coffees that suit the needs of the majority of coffee drinkers. Their unique promise of value: making it easy to choose the perfect cup of coffee for you. They call it the Level System. From light and bright Level 1 to dark and bold level 5 they claim that they have an expertly blended level for everyone.

Can you see the brilliance behind this brand strategy? The next time you need to buy coffee you do not even need to remember the brand name. Just remember a number between 1 and 5. First they take the guesswork out of selecting the right blend. Then, they make it impossible to forget your preference or the preference of whomever you are buying for. “I’m a #2 and my roommate is a #5”.

For those, who are time-starved they just made life a little bit easier. They solved a common problem How can you distill your luxury real estate marketing message to accomplish the same goal?

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Monday, July 9, 2012

Personal and Company Branding: Is Your Slogan Engaging?

As a luxury real estate marketing professional do you have an engaging slogan? We have mentioned in a previous post, that using effective slogans as a personal branding and marketing strategy for real estate agents is an excellent way to differentiate you from the competition. The entire purpose of using a slogan is to engage your target market and get them talking about you.

Here is an example of a brand and a slogan that we noticed while dining in the town of Mathews, Virginia. One glance and you know exactly what type of business this is and who their ideal customers are. It is brief, succinct and to the point. And, it is humorous which captures attention.

Is your slogan engaging?

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Friday, July 6, 2012

Luxury Real Estate Marketing: America’s Luxury-The New Entrepreneurial Spirit

It is a luxury to live in America. In the spirit of celebrating America’s birthday, we are sharing with you some quintessential American places (and fabulous people we have met there) during our recent travels to work with some East Coast clients. The definition for quintessential: is representing the most perfect or typical example of a quality or class. Quintessential is an essential word to know in the Language of Luxury.

We discovered The Inn at Tabbs Creek on the Internet. Every online comment about the place was positive. After a 3-hour drive in traffic from Reagan National on a hot Virginia day, we turned into to an expansive tree- lined driveway and this magnificent view of the Inn appeared (see photo). We were warmly greeted and shown to our room via the flower gardens lovingly tended by owner Lori Dusenberry. Our room had a view of an inlet of the Chesapeake Bay. (see photo below)

Since it was dinnertime, our greeter, Lori’s brother, gave us suggestions and directions to restaurants in nearby Mathews, a quaint little town. As we drove out, we noticed a large plot of land with a myriad of vegetables, the domain of owner, Greg Dusenberry, Lori’s husband. These wonderful organic vegetables would be part of our breakfast for the two mornings we were there. Lori and Greg exemplify the spirit of entrepreneurship and innovative thinking of an American family owned business. We think this excerpt from their website expresses their ingenuity and their intentions perfectly.

“The main Inn is an 1880's newly renovated farmhouse with a separate cottage housing the luxury suites just across the garden and pool. An eco-friendly and certified Virginia Green lodging establishment, The Inn at Tabbs Creek is just the place if you appreciate the natural splendor of the outdoors yet want the luxury and comfort of a casual B&B. We have also partnered with Carbonfund.org to pay for our carbon offsets, so that you may stay "Guilt Free"! (or at least, Carbon Neutral).”

Our breakfasts at the Inn were the culinary highlights of our trip. We had crabmeat omelets with their fresh crabs harvested that morning, and fresh steamed asparagus. The previous morning we enjoyed a sausage quiche with heirloom tomatoes from Greg’s organic garden. The muffins, filled with fresh local berries, came right out of their oven, piping hot, to our table.

Our hosts graciously invited our clients to join us for our breakfast feasts on both days of our stay. We felt pampered, loved and definitely spoiled.

The Inn at Tabs Creek is a quintessential American place, with its picturesque setting, its superb cuisine and especially the generosity of spirit that was extended to us. It definitely rivals any of the French or Italian countryside inns that we have experienced.

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Tuesday, July 3, 2012

Luxury Real Estate Marketing: America’s Luxury: Localvores

Localvores, a word coined in 2007 in San Francisco, defines a growing trend of eating foods grown in one’s geographical area. The numbers of farmers selling directly to consumers has doubled in the years between 1997 and 2007, and is continuing that doubling trend according to the US Department of Agriculture. This trend has enhanced the economy of local communities. Eating local is considered important as part of a healthy diet.

Part of our luxury real estate marketing research, as we travel to our clients’ marketplaces, includes exploring the local foods. In Virginia’s Chesapeake Bay our clients took us to lunch at Merroir which overlooks the Chesapeake Bay. Merroir (smart branding) is a play on the word “Terroir”. This is a French word term used in wines, chocolate, and coffee to describe the unique attributes of the area’s soil and climatic conditions which gives a distinct taste to that particular wine or food. And, "Mer" means sea in French, as "Terre" means earth.

Merroir is a tasting room for oysters grown locally in different areas of the water. According to co-owner Travis Croxton, “Every oyster is influenced by its marine surrounding, and you can taste those differences.” Three types of oysters are on the menu: Rappahannock River Oysters, Stingray Oysters and Olde Salt Oysters. The Rappahannock River Oysters are raised in the tail end of the river of the same name, where the freshwater meets the saltwater of the bay and are sweeter. Stingrays grown in Mobjack Bay are saltier. The Olde Salt Oyster from the Chincoteague Island is the saltiest of the three. The limited menu includes steamed clams, crab cakes, salads and fried green tomatoes.

We loved the Rappahannock River Oysters. We also ordered crab cakes (grown locally and fresh that morning) and sampled fried green tomatoes. It was gourmet heaven. So if you ever find yourself anywhere near the Chesapeake Bay in Virginia, make sure you stop at Merroir‘s. They are open Wednesday through Sunday. We are thankful for all the localvores in America.

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Monday, July 2, 2012

Luxury Real Estate Marketing: America’s Luxury: Warm, Welcoming People

It is a luxury to live in America, and in the spirit of celebrating America’s birthday, we are sharing with you some of the most quintessential places and people we have experienced in our recent travels to our clients marketplaces. The definition for quintessential: is representing the most perfect or typical example of a quality or class. This is also in our opinion one of the facets which defines luxury.

Captain Stannard House

Country Inn in Westbrook, Connecticut

This is where we learned from Jim and Mary Brewster (the owners of this wonderful bed and breakfast), this sentence, “We cannot wait to spoil you”. And they were true to their words. If you read our blog, you probably saw the picture of the tasty brownies treats on the dresser. Breakfasts were delicious, and the common areas comfortable and inviting. The House has been lovingly restored, and the work was done by an architect who specializes in restoring and building homes that are a 100 years old.

After dinner, we spent the evenings in the living room on comfortable leather couches catching up with our correspondence. We felt completely at home. The Stannard Inn is located one block from the beach, where the Atlantic meets the river. We came in strangers and we left as friends, and that is one of America’s luxury traits—warm and welcoming people. We are looking forward to our next visit.

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