The real estate and homebuilding industry is saturated with competition. This means the biggest challenge for many brands is to make a name for themselves and compellingly differentiate their brand from others in the market.
Buyers have an oversupply of options, and your brand needs to speak to them in more personal, emotional and creative ways to generate positive recognition and develop an emotional connection. The more distinct, yet authentic your brand is portrayed the better your connections will be with your potential buyers.
Developing a powerful real estate brand identity is the best way to do this. In fact, studies show that more impressionable and consistent brands are 3.5 times more likely to obtain strong brand visibility. And the competitive advantages of strong brand visibility are limitless, including awareness and recognition, credibility, loyalty, increased word-of-mouth and much more.
Your brand identity is much like your personal identity. It acts as a representation of the who, what, why and how of your business. It’s your brand’s personality that delivers a promise to your customers as to what they can expect from your company. Brand identity is shared with your audience through what you say, your values, how you share your offerings and how your brand makes the audience feel after engagement. When done correctly, real estate brand identities clearly communicate your business character and value in a visually appealing and impressionable way. You have a lot to offer, and you must convey that to the right people.
HubSpot suggests clarifying and understanding these five things for all businesses and real estate is certainly no exception.
The primary objective of creating a compelling brand character is to cultivate an identity that resonates with your audience. To begin developing an appealing brand identity, it’s important to understand what your audience wants so you can have the solution they need. Start with identifying a buyer persona for ideal customers, their age, interests, lifestyle pain points, etc. Learning what interests and pain points your buyers possess offers your company a great opportunity to share messaging that communicates how your products and service can help solve them.
What sets your business apart from its competitors? Developing a strong, differentiated brand identity comes down to knowing and sharing the differences that make your company unique for consumers. Each competitor's performance provides a chance to note their strengths and weaknesses and discover how your company can fill those gaps for homebuyers. Know your worth and take note of your competitor's branding techniques that fail and succeed.
As well as keeping an eye on the competition, you also need to have a strong internal understanding of why your company exists and the value it delivers. Not only should your buyers be provided with a great perception of who your brand is, but your employees should also have a thorough grasp on your brand promise, what separates you from competitors and your company’s value proposition within the market.
Again, it’s important to know your brand’s purpose, and the best way to share that is through a compelling mission statement that defines your company’s vision and goals. Cultivating a strong brand personality has to start with a solid basis that identifies the business’ reason for being. Keep your mission statement clear and direct to concisely communicate your overall purpose. With that mission statement in mind, always ensure that everything your brand does and delivers aligns with that overarching purpose. Today, buyers are heavily drawn to brands that promote their values and prove that through consistent actions.
The more “human” your brand can be, the better. This sense of person can be cultivated for your brand by developing a recognizable personality that resonates with the right buyers. Whether bold, lighthearted, quirky or serious, your brand personality should be developed with defining adjectives that you work to inject into everything the brand says and does. Be personable when creating your brand image by using your type, colors and imagery strategically.
Gaining a deep and thorough understanding of your company’s position within the market is the best way to nurture a strong brand identity. Consider the best characteristics of your brand, openings for your business to thrive and where there may be obstacles, either internal or external, standing in the way of success. Take the opportunity to better understand your brand by evaluating your business with a SWOT analysis to identify all strengths, weaknesses, opportunities and threats.
All of these come together to form your personality and reputation as perceived by current and potential buyers.
Because you're in a high-ticket sale business. Your buyers expect nothing short of credible, reliable, professional and trustworthy experiences. Your brand identity communicates that and more, so potential buyers know what to expect when working with you.
Creating a brand identity that appeals to your buyers allows your business to build connections more effectively. A great brand with a captivating identity can achieve adoration and even inspire stronger customer loyalty among your buyers. Any company with a good product can attract customers, but only an exceptional brand produces passionate advocates.
If your brand isn’t memorable, then it’s the opposite – easy to forget. And that’s the last thing a successful business should be.
Paula Scher once said, "Identities are the beginning of everything. They are how something is recognized and understood. What could be better than that?"
Our answer — nothing. Your brand is your reputation and without a memorable real estate brand identity, you risk being overshadowed by a more memorable competitor. With the following components, you eliminate that risk and position your business at the forefront of buyers’ minds.
Your messaging can be the most authentic and exceptional one in the industry, but it won't matter if it isn't clearly communicated to the right audience. There are many homebuyers in the market, but that doesn’t mean every single one is the right buyer for your brand. Real estate brands must be targeted at the right person who will actually buy the product, or your efforts are for nothing. Memorable brand identities speak directly to their buyers, conveying value and trust that speaks to them personally.
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Real estate brands cannot simply recreate another brand and be successful. It’s important to separate your brand as much as possible from your toughest competitors fighting for the same buyers. Be sure not to imitate what works for their company. Instead, make note of how they perform and use that to inspire your own distinctive identity. You need a unique brand identity specific to you and what you have to offer.
Just as no two people are alike, no two businesses are alike and that's a good thing. Find ways to differentiate your brand from any other businesses in the industry whenever possible. It will give you the edge you need because buyers can't just get "you" from anyone.
Not only does your brand itself need to be unique, but because brands are best communicated personally and directly, it must also be unique to your audience. It doesn't matter much if your brand speaks to everyone. In fact, it's impossible and a waste of your valuable time. Not everyone needs your expertise and business, so it's best to keep your brand identity unique to create distinct appeal for your current and potential buyers.
Buying a home is the greatest decision a person will ever make — it's time that the branding behind that decision is given the attention and focus it deserves. Memorable real estate brands encompass this through creativity. It allows alternative ways of thinking and enables empathy.
This component is vital because, without it, there is no differentiation between you and your competition. Creativity inspires change, differences, innovation and connections.
As Albert Einstein said, "Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world." Chances are, your competition has the same knowledge as you, but your imagination is your own creative advantage. Take that advantage and enhance your brand identity with one that breaks from the traditional and overused images communicated by your competitors.
When creating an authentic brand identity that your buyers believe in, always remember that actions speak much louder than words. Prioritizing consistency is the key to building a familiar, trustworthy brand. No matter where buyers engage with your brand, they should receive a consistent experience that distinguishes the brand through the language and imagery presented.
When developing brand values, goals and vision, make sure that your company truly aligns with that identity. If you strongly believe in what you’re selling and make that clear through the brand’s actions, customers will pick up on that and trust your company more. Earning trust and loyalty is always easier when your brand shows that it truly possesses a coherent identity.
Your company should prove the validity of its values and character by making consistent and reliable choices that align with your proclaimed brand purpose.
The best brands not only demonstrate that they mean what they say, but they prove that they know what they’re talking about.
When brands actively share what they know and how they work to incorporate that knowledge into their products and services, they’re seen as more credible in the eyes of consumers. The more credible your brand identity is, the more your buyers will place their trust in your company.
Forming strong credibility comes from maintaining a cohesive identity, establishing your brand as a thought leader within the industry and demonstrating your passion for the work you do.
Modern-day marketing is all about building connections with your buyers. The truth is that customers feel a greater sense of love and loyalty toward brands that offer them an emotional connection.
Because buying a new home is the greatest purchase of a person's life, it can be an incredibly emotional experience for your buyers. Great real estate brand identities speak directly to this emotion through engaging storytelling and stunning visuals. Stories, written and visual, appeal to people in a way that inspires action and engagement through emotional responses. Choosing the best way to communicate and engage your audience in a meaningful way is crucial to creating a compelling brand identity.
If you can elicit a positive emotional response from your buyers, you make your brand memorable. Just look at Coca-Cola and Nike — they're industry leaders. Coca-Cola connected emotionally with their "Choose Happiness" campaign and Nike uses emotions focused on leadership and athletics. The key is to find what emotional response you wish to elicit with your brand.
Moreover, this emotional response is also summoned in your handling of real estate and homebuilding customer experience. It's the difference between a rewarding response after a positive and easy buying experience and a frustrated response after a negative and difficult buying experience.
As creative experts, Milesbrand understands the importance of building a brand identity that clearly communicates your business' value, goals, competitive difference and purpose. We also know how to take the incredible business you've established and highlight its key components to make it more memorable.
Spend less time reaching your audience and more time building relationships with your buyers by allowing our Milesbrand team to turn your "why" into an exceptional competitive advantage. Contact us to learn more about what we can do for your real estate or homebuilding brand.