How Branding Helps You to be Known
When you have a really good brand, people will be more interested in your business because they will like the uniqueness of you and what you’re offering. The more unique you make your brand, the more amount of people that will have heard of you. For example, Chanel and Louis Vuitton are known just from their logos alone. Same thing can be said for McDonald’s and Wendy’s. If you have an interesting logo and sell something that is in higher demand, more people will want to give your business and will even spread your name.
HOW BRANDING
HELPS YOUR BUSINESS.
With a higher conversion rate, the resources used in marketing will yield both a higher quality and an increased quantity of leads.
Often overshadowed by marketing campaigns and lead generation, most real estate agents are not aware of the impact branding has when it comes to growing their sphere of clients. Through working with agents from different backgrounds, LVL UP has developed a product line that directly addresses this often-overlooked area of business.
In practical terms, branding is what creates a recognizable image that helps differentiate you from your competitors, which will ultimately lead to higher conversion rates in marketing. With a higher conversion rate, the resources used in marketing will yield both a higher quality and an increased quantity of leads. Many agents, however, make the mistake of marketing before they have established a brand for themselves, which hinders the establishment of a steady flow of customers. Businesses that create a brand that people can readily identify will be ahead of the competition that isn’t using that to their advantage.
Though branding is most effective when done before marketing, it is an area of business that should be consistently implemented throughout your entire real estate career. Branding needs to be done before marketing, during the sales process, and even after the customer acquisition. Coca Cola, for example, has already sold everybody on trying out their product, but they still spend millions of dollars on advertising every year, not to educate, but to simply maintain brand awareness. This is because when a customer is finally faced with a decision, it is brand awareness that will influence the decision between product providers.
How Branding Works
How good branding will help you win.
All the big names you know in any industry has a great branding and good marketing for a reason. You can only have good branding if you have good marketing, and vice versa. They go together because if you are lacking in one, the other one won’t help you become more known or help you gain customers.
You should never not try to improve your branding if it is possible. The market changes a lot, so if you keep improving your branding and your marketing strategies, then you will never lose your clientele. If a client likes what you are doing, then you will never be able to lose them to competition.
Still Have Questions? Here Are Some Answers.
FREQUENTLY ASKED QUESTIONS
A: An effective brand is going to be defined by whoever your target demographic within a niche ends up being. Logos, color schemes, quality of service and product offerings, are all ways to communicate your unique business to the marketplace. For example, Louis Vuitton offers luxury products to higher-end consumers. McDonald’s, on the other hand, offers affordable products to lower-end consumers. It is important to emphasize the income levels of the demographics being targeted by these two companies. From a branding perspective, it would be a mistake for McDonald’s to offer higher-end goods. Initially, it may seem like offering higher-end goods would create more opportunities, but it would actually be a mistake because doing so would dilute the core brand. It is indeed possible to expand into other niches, but doing so takes more resources than specializing, so the return on expansion may not always be wise.
A: The easiest way to start building your brand is by targeting the leads that are already in your sphere. The truth is that real estate agents aren’t following up anywhere near enough, and branding offers an opportunity to remind the marketplace of your existence without seeming pushy. Proper branding is done by offering your sphere value instead of trying to take value or ask for something of your sphere. Many businesses and marketing agencies make the mistake of always going for the ask. Gyms, for example, are notorious for spamming leads via email and text with dozens of offers, yet this strategy alienates prospects that have options and will lead to an avoidance of anything associated with whomever the spammer is. One of the easiest ways to build a relationship with your leads is to educate them at no cost. When utilized properly, email can be an effective way to educate your sphere, while making sure to not overwhelm them with spam. This approach is much more subtle, but it reminds the target audience that they can work with you. Additionally, the content of insightful emails will establish you as an expert in your field, while also not overwhelming them or pushing them into doing anything. So, you are making yourself known and getting those follow up ‘touches’ in without directly asking for something.
A: Coca-Cola spends money on commercials to reinforce an already established brand. None of their commercials are calls to action. Pause and ask yourself, why is it that Coca-Cola still spends money on commercials when you already know who they are? Everybody already knows who they are, how it tastes and what it is, yet they still spend money on commercials. There is no new product line, no new discount sales, or call to action phone numbers to call into. The entire purpose of their commercials are to reinforce an already established brand so that when a customer is faced with making a decision, they end up going with Coca-Cola and not with the competitor’s product. It’s a reminder. Parallel to the real estate industry, the same principles apply. The sales cycle in real estate can last months, sometimes even years. So, when a client is finally ready to move forward and sell their home, it needs to be you that is at the forefront of their mind. Branding is an ongoing process.
A: Branding is not something that you can directly measure with KPIs in the same way you do with a marketing campaign because branding is an identity that is built over the course of years.
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