Welcome to Part 2 of our article series on provenance. In Part 1, we established that provenance comes from the French provenir,
"to come from", referring to the chronology of the ownership, custody
or location of a historical object. Here we will discuss how provenance
can also become an added value in luxury real estate personal and
company branding.
Consumers like to do business with
people and companies who are like themselves, those they feel they can
trust. Successful luxury real estate personal and company branding
accelerates the speed of trust. It does so by succinctly and
authentically communicating that your brand’s values and personality is a
match to the values and personalities of your ideal clients or
customers.
To speed up the time it takes for
consumers to recognize that your brand is a perfect match for them your
brand messaging must clearly establish what you or your company stands
for and how that position is sharply different from what your
competitors stand for. This is known as communicating your brand position.
If you were challenging a market leader the ideal brand position would
be the polar opposite of your competitor’s brand position.
Brands that have provenance are called
heritage brands. Provenance establishes lineage, pedigree, i.e. roots.
It provides a history and a story that adds a traditional vs..
contemporary context to a brand making it more valuable in the mind of
consumers who appreciate traditional values.
Heritage brands communicate their
sincerity, authenticity, wholesomeness, and caring. On one end of the
spectrum of luxury heritage brands with provenance is See’s Candy that
began in 1921 in Los Angeles. Mary See symbolizes the old-fashioned
values of homemade quality and friendly service.
One the other end of this luxury spectrum is the gentrified brand, Hermรจs.
This French firm, established in 1837 specializes in leather
(traditionally, saddles and riding accoutrements), lifestyle
accessories, perfumery and read-to-wear clothing.
A local independent real estate firm
that has been around for some time could be considered a heritage brand
with provenance. For those consumers who appreciate the local roots and
traditional values of such a company this would be their brand of
choice.
If you wanted to challenge this
established company of this nature, you would want to position your firm
as young and progressive vs. old and traditional. As such, you would
not need to waste your time or marketing dollars trying to win over
traditional-minded consumers. Instead, you would focus on those whose
values and personality resonates with your contemporary brand position.
But, what if your competition is young
and progressive. How can you position yourself or your firm as a
heritage brand with provenance? Stay tuned for Part 3 where we showcase
a successful, high-end blue jeans company that has recently done just
that. If this company can stand out in an extremely over-crowded
clothing category, there is hope for you to do the same, as a luxury
real estate marketing professional or company.
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