During a recent speaking engagement focused on real estate marketing, I was asked a question about the role of advertising in the real estate development industry. Had it gone away? What really mattered? Many of the audience’s questions had been focused on marketing effectiveness and driving customers from the ad to the showroom. I think the room shuddered when I said that I thought there was still a real need for brand building in real estate marketing. Everyone is so focused on direct ROI on their marketing investment that they cannot see the need to build their brand with the appropriate target markets for their product (property). The result? Less distinction. Less product knowledge. Less sizzle and buzz for the property. One cannot live on direct marketing metrics alone.
Whether selling home, office, retail or other real property, the marketing must first start with the brand. Questions to ask:
- What makes this place/product distinct, special, different?
- Whom is it for?
- How can we build momentum for it in the marketplace?
- How do we build our brand through every touchpoint?
To be sure, marketing metrics are important in helping to measure the effectiveness of any marketing and PR program. It’s simply my contention that these marketing programs will be more effective and create greater ROI when they are part of a strong, well-positioned brand.
Posted in: Brand Development, Integrated Marketing
Tags: advertising, brand building, distinction, real estate marketing, ROI
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