The Language of Luxury

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Wednesday, June 27, 2012

Luxury Real Estate Marketing Tip: Keep Your Message Brief

As a luxury real estate marketing professional it is important to communicate who you are and what you do with words and imagery. Your collateral materials and web site should articulate the essence of your brand in a nanosecond.

We often attribute the quote of “A picture is worth a 1000 words” to Confucius. However, research shows that this attribution to Confucius was given by an advertiser named Fred Barnard who said he called it a Chinese proverb, so that people would take it seriously”. As time went on, Confucius was credited with this adage. Mr. Barnard promoted the use of images on the sides of streetcars as part of an advertisement. His sentence was “One Look is Worth a Thousand Words (1921 trade journal, Printer’s Ink.) In another ad in 1927, Mr. Barnard used the phrase, “One Picture is Worth Ten Thousand Words”

More research reveals that in the novel Fathers and Sons written in 1862, the Russian writer Ivan Turgenev wrote, “A picture shows me at a glance what it takes dozens of pages of a book to expound.”

Here is an example of a picture is worth a thousand words. The entrance to the small 6 acre Dog and Oyster Vineyard in Virginia is flanked by two corkscrew sculptures each measuring 40 feet. There are no signs needed to express what is happening here.

So keep your message brief, your pictures bright and expressive so you don’t need 1000 or 10,000 words to say it.

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Tuesday, June 26, 2012

Luxury Real Estate Marketing Tip: What Is Your “VA” (Value Added)?

As you approach the realm of market leadership the difference between good and great service in the field of marketing luxury real estate cannot be measured by the degree of competency and integrity. The fundamentals of successfully engineering real estate transactions are the same; you cannot get away with incompetence and lack of integrity for very long. So how do you differentiate yourself from your closest competitors if market leadership is your quest?

The answer is the value that you add. Added value is the extra service that you offer that your competitors do not include in their winning formula. Here is an example.

There are many aviation brokers who provide the service of buying, selling or leasing private jets. We recently met an aviation broker who put his company in a class unto itself by offering his clients an extra service that they cannot find anywhere else. His firm targets Fortune 500 companies exclusively and offers them a consulting service to help them analyze the most cost efficient way to allocate their resources for private aviation

As expert number crunchers in this very narrow niche they position themselves as trusted advisors rather than mere brokers and immediately set themselves far apart from their competition who just broker planes. They basically break even in terms of being compensated as consultants. But, they are awarded the business as brokers because they thoroughly understand the specific needs of their corporate clients. As a result, they can represent their clients’ interest far better than their competitors. At the Fortune 500 level the rewards are obviously worth it. This formula simply would not work for the private aviation needs of small to mid-sized firms.

This aviation brokerage firm identified an uncontested market niche that they could satisfy better than anyone else in the world of private aviation for Fortune 500 companies. As a result they create added value as consultants by saving these large companies a significant amount of time and money. Their analysis provides an objective criteria for making private aviation decisions to buy, sell or lease planes.

They do not need a clever “sales pitch” to ace out their competition. They do not need to lower their brokerage commission rate to win business. Nor, do they need to know the right people who can get them “in the door”. Their consulting service is the answer to the prayers of their clients. They are the perfect match to the real needs of their clients.

As a luxury real estate marketing professional can your “VA”,or added value,be?

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Friday, June 1, 2012

Marketing Luxury Real Estate: Luxury Camouflage in Beverly Hills 2

This photo is what Van Cleef Arpels deemed appropriate for their remodel on the corner Rodeo Drvie and Dayton Drive in Beverly Hills. Unlike Bulgari, Van Cleef Arpels' jewelry is classic in it luxury appeal. It is an old world French jewelry compnay, founded in 1906 on the venerable Place Vendome in Paris. it is brand known for its signature mystery settings where the prongs are concealed. Van Cleef & Arpels' customoers have included the Duchess of Windsor, Grace Kelly and Elizabeth Taylor. Their remodel facade is subtle and understated like their mystery settings.

Last month we wrote a post illustrating how remodeling is creatively camouflaged in Beverly Hills. We featured the Bulgari jewelry store who in keeping with their brand identity had designed a bright golden opulent camouflage while remodeling their store. True to their idetity, the store board was colorful and attention getting. We feel it is on its signal or perfect for who they are.

Every company has its point of attraction for their target market. It is clear how two brands selling jewelry have a different approach because they understand their ideal client. We happen to like and appreciate both becaue of their clarity in communicating who they are. What do you think?

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Thursday, May 31, 2012

Marketing Luxury Real Estate Tip: Are You Playing Chess or Checkers

Brand strategy for luxury real estate marketing professionals is all about achieving top- of-mind status. That takes superior, long-range, strategic thinking. But, what is at stake? The lion’s share of the business in your market place or a niche therein, that is what is at stake!

Who Needs Brand Strategy?

The only players who have a use for brand strategy are the ones who are bent on gaining or sustaining market leadership Incumbents or Challengers. Everyone else is fighting over the crumbs, doing the best they can. To seize or maintain the lion’s share you must think strategically.

Have you been watching the NBA Western Conference Playoffs with San Antonio and Oklahoma City? San Antonio is proving to be in a league of their own. Their teamwork is impeccable and their strategy is brilliant. They just won 20 straight games! Kenny Smith, the retired NBA star and TV announcer, covering Game 2 said something that explained the difference between the two teams: “San Antonio is playing Chess while OKC is playing Checkers”.

Chess or Checkers?

That comment perfectly summarized what we have been saying about brand strategy for luxury real estate marketing professionals. If you are bent on the “unabashed pursuit of market leadership”, it is imperative that you become a master of brand strategy. Like Chess, brand strategy requires well-thought-out, long range thinking.

You can make a lot of money by mastering internet marketing strategy by being the first to capture buyer leads. Many incumbent market leaders are very vulnerable in this department because they are not up to speed yet and, in most cases, it is still a buyers’ market. But, in the long run it is the agent, team or company who consistently wins listings that makes the most money. Being a master of both disciplines, is the surest way to become the dominant player and significantly outdistance your closest competitors.

Even though it appears that you are playing on the same game board, the true market leader is playing Chess, while everyone else is playing Checkers. However, If you want to challenge the market leader you need to outthink the incumbent at their strategic level and beat them at their own game. The battle may ultimately be a fight for market share. But, you first have to win the battle for mind share. And, that takes strategy.

Are you playing Chess or Checkers?

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Monday, March 26, 2012

Marketing Luxury Real Estate: Enchantment Marketing - Part 3

In marketing luxury real estate always keep this vitally important concept in mind: When Your Marketing and Branding Is Enchanting It Accelerates the Speed of Trust and Enables You to Close More Transactions

When a home buyer or seller is not relying on a referral to select a luxury real estate marketing professional the big question on their mind is “Who can I trust?” This is certainly the dilemma of most website visitors from out of town. If you can quicken the time it takes to establish trust you can save your prospects time and anxiety, which they will appreciate. Because enchantment marketing and branding accelerates the speed of trust it also enables you to close more transactions.

Think about how enchantment marketing and branding plays out when you are shopping for unfamiliar luxury goods without a brand recommendation from a trusted friend. When you do not have a recommendation three things help to accelerate the speed of trust and thus speed up your buying decision: 1) Enchanting Packaging; 2) Enchanting Messaging, and; 3) Enchanting Brand Strategy.

Do you have a special memory of enjoying ice cream or gelato somewhere in time, somewhere on earth? We have two enchanting gelato memories and they both occurred in Italy. One memory is Vivoli Il Gelato in Florence and the other one is a gelateria on the central square of Turin, Piazza Castel. We are always open to new ice cream and gelato experiences that compare to these fond memories.

Enchanting Packaging

Recently, we passed by the frozen dessert display case in one of our favorite markets and something caught our attention. It was a new brand of coffee ice cream called, Blackbean. The clever container is shaped like a coffee cup with a lid. As gourmet coffee lovers and coffee ice cream lovers we felt obliged to test out this new brand because we were instantly enchanted by the packaging.

Enchanting Messaging

What is remarkable about the combination of the packaging, the graphic design and the brand name itself is Blackbean’s clearly articulated marketing message. First, it instantly let us know the product’s specific niche within the larger category of ice cream or gelato: coffee ice cream. This is focused niche marketing at its very best! Then, it told us, in a nano-second, its distinct promise of value, i.e, its unique selling proposition: “Bolder Coffee Ice Cream”. As a result we immediately expected that this product would taste like a great strong cup of gourmet coffee that you would buy at a specialty coffee store or expresso bar. That is enchanting packaging and messaging!

Enchanting Brand Strategy

The price was also remarkable. Because of the smaller size of the container (12 oz.),it cost less than the other brands on the same shelf that have larger pint size containers (16 oz.). The price per ounce may be identical to other premium ice cream and gelato brands on the same shelf that we had not yet tried. But, with a lower price it offered yet another compelling reason to try Blackbean first. That is enchanting brand strategy!

Promise of Value Fulfilled

After just a couple of spoonfuls, Blackbean became our favorite coffee ice cream! It is very creamy and has a strong, rich coffee flavor which is exactly what we expected based on the enchantment of the packaging, messaging and brand strategy. Taken together these marketing and branding elements propelled Blackbean from total obcurity to top of our minds, in the niche of coffee ice cream.

To our surprise and delight, the mocha chips are actually unsweetened chocolate. We are fans of 80-85% cacao dark chocolate. So, we appreciated that the crunchy chocolate bits had a distinct bittersweet character that required our taste buds to “borrow” from the sweetness of the ice cream itself to balance the overall flavor. This engaged our minds as well as our palette in the tasting experience which is the hallmark of outstanding gourmet food. It adds another dimension to fine dining when you can also appreciate the thought behind the flavor sensations and aromas.

Enchantment Marketing and Branding Accelerates the Speed of Trust.

Delivery on Your Promise of Value Seals the Deal!

Based on our enchanted Italian gelato experiences and our love for strong gourmet coffee we were the perfect target market for Blackbean Mocca Chip ice cream. But, had the packaging not grabbed our attention in the first place, the probability of discovering this brand would have been very slim. We were not even thinking of buying ice cream that day.

Enchantment marketing and branding accelerated the speed of trust. We were a match to the innovative thinking that went into this brand strategy and were wiling to risk $2.29 for a new culinary adventure. But, if Blackbean did not deliver on its value proposition that was so brilliantly communicated, we would not become loyal customers and raving fans.

Luxury is all about heightened, uplifting experiences that convert to enchanted memories, whether it is buying a home or buying dessert. When it comes to selecting a luxury real estate marketing professional without the recommendation of a trusted friend a risk must be taken by your prospects. That is why enchantment marketing and branding is so vital to your luxury real estate marketing practice. How many out of town prospective buyers know one local broker from another? Enchantment marketing and branding can encourage prospects to take a chance on you by accelerating the speed of trust. If you consistently deliver on your promise of value, you will definitely close more transactions.

The concept of Enchantment Marketing was inspired by Guy Kawasaki

ENCHANTMENT MARKETING Part 1, Part 2

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