In an industry as competitive as real estate,
it’s imperative to stand out from the crowd and leave a lasting impression on
customers. You could build the most magnificent property and still suffer from
poor leads and site visits. Reason? The absence of branding.
Branding differentiates a product in the
market and builds a community that resonates with your brand. You are mistaken
if you think branding is just a logo, a tagline or something to do with good
graphics. Branding is much more than that. It gives a unique identity and
personality to your business.
Until a few years back real estate brands
could have managed to stay afloat with minimal branding efforts. The competition
wasn’t too high, homebuyers were probably less choosy and technology wasn’t as
advanced. But with tech and digital platforms making inroads into the real
estate market, brands have to up their game and establish a strong presence.
If you are a real estate brand (be it residential or commercial) and curious to
understand the benefits of branding, this article
is for you.
Why real estate firms must invest in
branding?
Is branding REALLY important? Can’t we just
put up a few hoardings with catchy lines, run some ads and hope for the best?
This question must have crossed your mind at least once and we are here to
answer it. To be honest, running some marketing campaigns without much
investment in branding may or may not bring results in the short run. But in
the long run, it will never work! In fact, you might actually spoil your brand
reputation with mindless marketing efforts. So let’s get to the crux of the
matter without any further ado.
Customers don’t invest in properties. They
invest in the brand and the ideals the brand stands for. Branding captures the
essence of your brand and creates an image in the minds of customers. Buyers
invest in properties only if they are convinced of your brand values and
ethos. You need the branding to effectively communicate your legacy, commitment
to quality and other USPs that make you “YOU”.
Every real estate brand is different. But at
the same time, they all have the same product - properties. Of course, the
area, amenities and other USPs differ from project to project. But for a
homebuyer, all properties look the same. This is where branding comes in.
Branding eliminates the common customer perception that ‘It’s all the same’ and
differentiates your real estate firm from other competitors. Effective branding
creates an image that homebuyers can strongly resonate with. You could be an
eco-friendly brand, have a rich legacy or even international presence.
Customers need to know what’s unique about your development to make an informed
decision.
Trust is a major factor in the real estate
industry. The nature of the industry is such that it takes years before the
product becomes tangible in the market. How can you get a homebuyer to invest
without seeing the final product? Branding builds trust among customers. It
creates a cohesive experience for customers across all touchpoints through
various marketing collaterals. Branding
helps build seamless customer interactions and creates a uniform, distinct and
memorable image. It humanises a brand and gives customers the assurance they
need before spending their hard-earned money.
Marketing without branding is bound to have
disastrous consequences. Branding establishes strong guidelines and provides a
foundation for all real estate marketing activities. Think about big brands
like McDonald's. The first thing that comes to our mind is the Golden Arches.
That’s the power of branding. It imprints our minds with designs, taglines and
colour palettes that can be easily recalled. Any customer who stumbles upon
your brand on any platform will be exposed to the same marketing messages if
you have a solid branding strategy.
Branding ensures your marketing is more streamlined, consistent and memorable.
No industry understands the importance of
reputation better than real estate. It’s true that real estate brands
consistent with their product offerings manage to build a reputation in the
market through word of mouth. But you need branding to translate this
reputation into monetary benefits. For new players in the market, branding
proactively builds a reputation within a short time and attracts repeat
customers and referrals. Branding can change the narrative of your real estate
business and bring more leads and sales.
Buying a home is a lifelong dream for many.
It’s an emotional decision, especially for Indians who save up for years to buy
a home that’s perfect for their family. Navigating an industry where trust and
reputation are crucial is not easy. Branding
is a powerful tool that will help overcome challenges and foster customer
loyalty. Hire Brandniti - your creative branding partner with specialized expertise in real estate to stand out in an
ever-evolving market. With 12+ years of
experience in branding, we know how to turn brands into success stories.
Write to us at marketing@brandniti.com
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