February 16, 2021
Naming Your Master-Planned Community: 3 Keys to Success
Purchasing a home is one of the biggest choices a person makes in their lifetime. It's a huge investment, a celebrated milestone, and shapes a community and its culture for years to come. Because consumers don't make a home decision lightly, real estate marketers face the challenge of competing for their dollars and trust.
In the housing market, consumers don't have the luxury of buying multiple products to try out which company they like best. If you don't win a customer in the first round, it may be years — or even decades — before they're looking for a home again. As a result, strong first impressions and memorable branding are crucial in gaining market share. It takes house-hunters 0.05 seconds to judge your website, and just 10 to evaluate your logo.
Outward-facing communication strategies rely on a strong name to be successful. That's why master-planned community marketers rely on Milesbrand to assist with the entire process — delivering branding and marketing campaigns that are creative, consistent, and compelling.
Master-Planned Communities: What's in a Name?
Shakespeare is revered for writing, "A rose by any other name would smell as sweet." While it is a nice thought to believe that products and services offer equal quality regardless of branding, we would bet that the housing market was much less competitive in the 1500s.
In reality, the tremendous value associated with a strong brand name is often overlooked. Even consumers are rarely privy to just how much they are influenced by marketing. Attaching a unique name to your community — and backing it with promises of quality and lifestyle — helps to differentiate it from the many other available options.
Thus, choosing a good name doesn't just mean your community's title is memorable. When your brand's name is evocative of hope, comfort, and home, you'll get free advertising every time you're brought up in conversation.
Are you sold on the value of brand names? Here are three tips to ensure that homes will be sold through your name's value.
1. Evoke Emotion at Every Touchpoint
Home is where the heart is, so you're branding should make sure to keep the heart in mind. Your name should help to characterize the community's space and what a future in that space would look like. When consumers emotionally engage with your brand in this way, loyalty will increase.
Milesbrand once partnered with a community located on the edge of 8,000 acres of wide-open land. The setting immediately promised wildlife and exciting exploration, and we wanted to let customers know all about it! Thus, BackCountry was born — a one-of-a-kind Colorado community that makes every day an adventure.
2. Set Consumer Expectation with Creative Branding
We're all well aware of the value of creativity... but sparking it is often easier said than done. Fortunately, you have your stunning homes and community to serve as your muses.
There's no pressure to come up with a trendy name that is sure to become outdated and overplayed within just a few years. But you can also stray far beyond the basics of XYZ Ranch. Instead, focus on highlighting one of the key benefits of your community. Then, use additional marketing tactics to ensure that prospective buyers want to call that highlight home.
Having a beach in your backyard may seem like a far-fetched dream, but that's exactly what one Milesbrand client was offering. It felt only natural to call it Water Valley — a simple name that clearly conveys a resort-like experience and idyllic existence. The name made marketing a breeze. By focusing our photography efforts on the sparkling water and laughs on the beach, every shot looked like it was straight from a vacation. With just two words and a couple of images, Water Valley created a brand promise: a more joyful, vibrant life.
3. Consistency Makes Your Work... Work for You
This last tip is perhaps the most crucial. Fortunately, it's also one of the easiest! Once you've settled on a name that you love, all that's left to do is use it, a lot. Spreading your brand in a consistent manner is essential for increasing visibility, building a reputation, and gaining prospects. In fact, companies that prioritize brand consistency across channels have been found to achieve an average growth rate of 33%.
Of course, this goes beyond not creating any pseudonyms for your community. As you expand your marketing strategy to include elements like graphics, taglines, and slogans, each aspect must carefully align with your chosen name. Contradictory messaging erodes the confidence consumers want to feel as they are considering a major purchase.
Tasked with naming a Denver, Colorado community, we first looked to ensure its branding was in line with the surrounding area. We drew inspiration from the iconic Denver International Airport, titling the community Avion. When it came to developing a tagline, we stayed loyal to the high-flying theme: "Where life takes off."
All of these brand elements work together to create a cohesive message. Avion promises the start of something new — it's all uphill from here.
You know the strengths and qualities of your brand. Milesbrand is here to help you convey it.
We are the leading marketing team for real estate and master-planned communities. Through every partnership, we are determined not to just claim this title, but to prove it. When you trust us with your neighborhood, we welcome you into ours.
Our team of creative experts will work closely with your company's heads of marketing and revenue. From our very first meeting to the final launch date, we will hone your vision, honor your timeline, and respect your budget. We aim to make you feel at home so that you can make your consumers feel the exact same way.
Contact us today to begin a transformative partnership. Before you know it, your brand will be properly positioned and perfectly planned.