How "Social Currency" Can Give You the Competitive Edge
In marketing luxury real estate one
segment of your target demographic comprises entrepreneurs and employees
of start-up companies who have recently been acquired by a larger
company, or have gone public. For example, when Facebook went public
many of their employees became millionaires overnight. If you are a
luxury real estate marketing professional in the Silicon Valley area of
California, the probability of encountering this kind of buyer is
quite high.
When we were in commercial real estate
in Beverly Hills and the West Los Angeles area we enjoyed learning
about some of the latest trends, technologies and new ventures before
the general public even heard about them. Our expertise was high-end
retail and the entertainment industry. We worked with investors,
developers, restaurateurs and companies who needed to purchase or lease
their retail space or office buildings. This exposed us to the leading
edge of what was to come in retail, technology, entertainment and
restaurants. Imagine being one of the first to know that Apple was going
to start opening retail stores!
When it comes to selling a luxury home
to this demographic segment you need to also understand their psycho
graphics. To increase your chances of winning their business you must be
able to quickly build rapport with them and speak their “dialect” of the Language of Luxury: Innovation.
You need to be up on the latest trends in their fields. This gives you
"social currency", which adds value to your professional practice and
gives you an edge over your competition.
Here is an example of the kind of social
currency in the realm of innovation. Later this fall, Mozilla, the
non-profit group who created the Firefox browser, is coming out with a
free web-based video editor that will change how we tell stories on the
Internet. It is called Popcorn.
I
n the same way that you edit video
content now using a time line to combine video clips, audio elements,
special effects and photos, Popcorn allows you to pull content right
from existing web sites. For instance, you can use a Google map as the
background for an inserted video clip of you describing specific
locations on the map. You can also add call out boxes containing
information about those locations that are hyper linked to more
information or additional videos about those points on the map. Viewers
can click on the call out boxes and watch those additional videos or
view a photo gallery or a web page about it.
It is fun to stay ahead of the curve by
keeping up with new trends that affect your target market and ideal
clients. This kind of social currency can give you a competitive edge
when working with those clients, whose personal values include being
innovative, which is a key element of their psycho graphics.
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