Photo by Sbuckley
In marketing luxury real estate, as with all professions and businesses, market leaders who face stiff competition from challengers need to continuously refresh their brand to stay current and relevant. With fierce competition from the X-Factor and The Voice for top-of-mind status, American Idol has set a great example of this vital principle of market leadership.
If you are a fan of American Idol you may have noticed that there was something conspicuously absent from their tried and true formula of the past twelve years. This year you saw very few (rarely) funny auditions of contestants that have no voice whatsoever let alone the rest of the package.
Instead, as a viewer, you became privy to more of the behind the scenes decision-making stories from the judges and many more auditions of the promising artists. Bringing in Harry Connick, Jr. as a judge and moving Randy Jackson to mentor were two other adjustments to the formula.
As a result, the TV audience is much more engaged as silent participators in the process of culling the list for the best talent. This manifested in a record number of votes for the artists. Not bad for a show that is thirteen years old!
Market leaders in luxury real estate, take heed! To stay on top you must continuously refresh your brand. Because, if you snooze, you lose!
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.
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