subject: Branding in The Real Estate Sector: Eden Group Strategies Shared [print this page] Branding in The Real Estate Sector: Eden Group Strategies Shared
Most corporate 'brands' in the Real Estate sector today exist on the basis of repeated individual project sales efforts. Their existence is based on repeated corporate presence as a part of individual project sales efforts. Individual Project sales efforts do not create a corporate brand' by design. It creates an illusion of a brand, and that too, by default. By sheer presence in advertisements and repeated delivery , project after project, over time. These 'brands' exist but do not have a meaningful idea that makes them unique. In effect, they are not really brands. They are simply 'organized' segment players, as opposed to local and unorganised' players. They do have certain benefits of being perceived as an 'organised' segment player such as perceived trust and quality, but they offer similar perceived benefits between themselves and are undifferentiated between themselves. They are like similar eggs, but in a different basket.
Which is to say, they have all become masters of a particular form of imitation. Not differentiation, but imitation. Yet because this particular form of imitation is cloaked in the vernacular of differentiation, the myth of competitive separation lives on in the minds of the managers running these firms. Meanwhile, the emperor has no clothes and most consumers know it.
Differentiation is ultimately a way of thinking. It's a mindset. A commitment to engage with people not just in an unaccustommed manner, but in a manner that they value, they respect and somewhere deep inside, their heart rejoices at and celebrates. That is when one touches a cord and creates a special place in the mind of the person. That is when a special relationship begins.
Buying a home is probably the second most important decision in one's life after marriage. Yet all the focus is on the thrill of the chase when everyone is craving for the customers attention. There is too much focus on the 'hard' aspects of the product, the specifications', the facilities' and too little on the 'soft' aspects, that is, the 'people', the 'process', the 'experience'.
Marketing has evolved from an emphasis on 'what it has' to 'what it does' to 'what you'll feel' to 'who you are'. This shift demonstrates, that while 'features' and 'benefits' are still important to people, 'emotions' and 'personal identity' has become even more important. I feel only when we engage people on an emotional level can we actually communicate meaningfully the features which can appeal to their rational side. Individual projects can and should have their functional USP's' based on the uniqueness of the individual project but the 'Corporate Brand Promise' should be the foundation which supports and encourages every purchase decision in any individual project. The Corporate Brand Promise should produce, as De Bono said , a ' Unique Buying State' for the consumer.
But then to the layman it sounds just like the rest of the advertising - big words and good copywriting. The challenge is to break through that clutter, and we need to make the consumer feel the difference.
A major megatrend in marketing is that there is a vertical distrust between consumers and companies. Therefore, fewer consumers rely on paid advertising. And there is a huge trust in the horizontal relationship between consumers. For brands to be able to connect to human beings, brands need to develop an authentic DNA that is at the core of their differentiation. Authentic differentiation. Brand identity must be matched with brand integrity. Alongwith targeting the mind and heart of the consumer through positioning, differentiation and experiential marketing, we must also target the spirit of the consumer with values, character, authenticity, and integrity. Marketing in the future is about defining ones identity, and strengthening it with authentic integrity to build a strong image.
The core promise must be backed by authentic delivery of that promise.
Most importantly, employees are the touchpoints of the customer. They are our living brand ambassadors. Anything we promise is ultimately delivered through them. Especially if what we are promising primarily is an honest and friendly home buying experience. They need to make the promise come alive in their interactions with customers. They need to believe in the promise and be honest in the delivery for the brand promise to be true and authentic. Experiential organizations have experiential employees, who are proud to have the social identity of being part of the brand. Transactional employees, who only focus on salary and perks are not in sync with experiential brands.
It creates a Personality that is the unique, authentic and talkable soul of the brand that people can get passionate about.
The objective is not to blend into the blur, but to stand out from it. We have made a commitment to not take the status quo for granted. We are going to change the rules. And all we have to do is be honest, and human, with all, inside and outside the organisation.
