Many perceive branding something only for fast-moving consumer goods, such as noodles, detergents or shampoo˳ Sadly, it seems exclusively built only on advertising and other mass-based promotions˳ This is a myopic notion of branding˳
Looking at the core meaning of this discipline, branding is very crucial to all products or services, especially those that require millions in investment˳ This is especially true in the real estate industry˳
Branding is a commitment that any company or service provider builds over time˳ It is more than advertising and nice words — it is a continuing experience˳
Positively recovering from the recent threat of global economic meltdown, the Philippine real estate market is poised to brush off the dust and dominate the skyline once again˳ The environment is seen to experience a déjà vu of the highly competitive scenario just before the dip of last year˳
Rising from the rubble, property developers and marketers are required to fight back, armed with the necessary tools to stand on solid ground˳ Previous mistakes and deficiencies should be corrected while the strongest and best practices should be enhanced˳
Like precious metals tested in fire, the recent economic challenge should be able to provide us the purest insights on how to tackle the new market order˳
Developers’ view of doing business should be reconsidered given changing market behavior, global practices, and most specially, environmental concerns˳ Building with brick and mortar is no longer enough˳ Developing projects with relevant value is a must today˳
Value is of utmost importance as a brand promise for property developers˳ It should be a pact written in stone˳
Enough with location, location, location˳ In the past, property developers relied mostly on the product’s location or physical attributes to sell˳ We build a better mousetrap and expect people to rush and buy it˳ But this is no longer the case˳ Current consumer trends prove that property hunters – investors and end-users alike – are more intelligent, more discriminating, and keener on the value that they get for every centavo that they spend˳
“Creating value starts with adding value to people’s lives whether by offering them a better home, a better community, better facilities, a better investment, or simply a better business opportunity,” writes Jean Claude Saade in his article on real estate branding posted in brandchannel˳com˳ He is a brand strategist who lives and works in Dubai, where mega developments have recently begun to sprout like mushroom in the desert˳
Building a brand is like building concrete structures˳ It goes through a careful process of integrating value in every aspect of planning, implementing and controlling˳ And much like these tangible structures, brands – and the values they represent — need proper maintenance and management, too˳
The value that matters to the market should be a crucial part of the blueprint in designing, promoting and selling, and maintaining the project˳
Branding is a pact of forever˳ Unlike the FMCG industry, real estate developments require millions of investment˳ People live in these developments almost their whole lifetime and these may even be passed on to the next generation˳ Unlike consumer goods, these condominiums, subdivisions or commercial complexes live longer and become more dynamic and thriving in the long run˳
Since the trend of pre-selling properties is the mode of doing real estate business today, it is crucial that developers consider the long-term benefits of branding˳ Buyers rely on the conceptual representation of the project as they part with their hard-earned bucks, and this translates to doing business as a matter of trust˳
This is why building a reputable brand name and personality is very important in the real estate industry˳ It is the long-term trust of the market that nails the buyers to invest in the property development being offered˳ Reputable brands amount to a sturdy foundation that supports the whole business structure˳
Branding creates an identifiable, transferable representation of the company and the projects they build˳ Given the high risks in investing in a property, consumers tend to compare, check and double check on the developers of the projects they consider buying˳
Track record is very important to the buyers since this determines the security in their investments˳ They check whether these developers deliver their projects according to their promise — turnover date, finishes, amenities, services, and so on˳ They perceive this as an indicator of whether the developer can keep their promise on their current or future projects that they invest in˳
The most successful local developers have managed to create a strong brand through a string of successful projects that they may leverage on in marketing their new and upcoming developments˳ They do not rely only on mass-based advertising and promotion efforts but on strategic brand management to take a strong hold of the lion’s share˳
At the end of the day, what strong real estate branding provides is a better leverage in the future in whatever business environment˳ It is not necessarily tangible but its value amounts to sure and secure investment to a sustainable business today and in the future˳
Source by https://ezinearticles˳com/?Real-Estate-Branding—Built-on-Solid-Ground&id=3156045
