Maintaining market dominance in real estate

As the international and domestic real estate business market continues to evolve, there is a need for real estate firms to adopt long lasting branding strategies of revolutionising how they are seen by the stakeholders. In real estate industry, branding encompasses all the online and offline marketing communication activities that are associated with the consistent […]

As the international and domestic real estate business market continues to evolve, there is a need for real estate firms to adopt long lasting branding strategies of revolutionising how they are seen by the stakeholders.

In real estate industry, branding encompasses all the online and offline marketing communication activities that are associated with the consistent brand promotion of the firm or agency.

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In the Nigerian real estate market, where most firms are operating on a small or medium scale basis, the first stage for the firm is to come up with a brand strategy- set of long term marketing communication goals that will distinguish your brand and place it ahead of other firms.

Once your brand strategy is in place, you need a brand identity as a real estate firm that is out to make a mark in the saturated marketplace. Your brand identity is the summation of your brand communication activities that will attract and endear you to clients and prospects as well. Your brand identities are those identifiable elements of your brand such as colour, logo and design. These elements stand your brand out in the minds of prospects and clients. And for your brand to achieve Top of the mind awareness (TOMA) over time, your brand identity must be the same in all touch points.

In building a real estate brand, the next line of action after your brand strategy and brand identity is the creation of your brand marketing in order to gain market penetration and uniquely put your products and services before the right audience who are your market targets. Brand marketing is the gradual process of creating and maintaining ties between your real estate firm and your clients.

Building a brand is not a one off activity; the firm must strategically do it over time across its touch points to create a brand experience. Brand experience is the totality of how you make your clients, prospects, and the general public feels when they meet and interact with your brand offline and online. A good brand experience will always lead to emotional connections and client retention. And a satisfied client by extension becomes your brand ambassador-word of mouth marketing.

Communicating your brand message over time to your target audience at  all touchpoints is another key element of building your real estate brand. Never get tired of projecting your brand with any branding opportunity, and ensure that your brand communication messages are the same at all touchpoints. No matter the size of your firm or agency, you should have budget for branding and marketing. Online marketing campaigns across your social media platforms present a veritable avenue for your agency to begin its marketing communication activities. A visit to your official website by any of your clients or prospects should be an awesome brand experience. With a good online presence and ever appealing brand content, real estate firms can position their brands, gain market relevance and maintain dominance over time.

 

Victor Okocha,wrote from Abuja