LAST week, I shared a couple of insights on the impact of choosing to invest in brand-building initiatives and strengthening sales-related initiatives. This week, however, I’ll be talking more about why establishing and enriching a unique sellable identity is key to reaping good business in the real-estate industry.
The business of real estate thrives primarily on the kind of reputation a particular developer enjoys. The success of every brand-building initiative in the course of property development goes beyond things like a logo, a signage, or a slogan because you create a more superior representation of your product through branding.
In all honesty, branding is as much a scientific process as it is a creative process. It involves a great deal of identifying who your target market is, understanding the range of behaviors that influence their mindsets (and purchasing patterns), creatively strategizing how you can best engage them through their interests, and talking to them by fueling their urge to fill a gap through selling the idea of your products. Strategic branding helps your brand establish and strengthen the kind of equity you envision. It all starts with developing a strong brand identity, market awareness, and positive reputation, all of which determine your brand’s business potential relative to competition.
Consistency is key
BRANDING initiatives should be genuine and must reflect the soul of the brand itself. It should stay true to your values as a developer, and should be connected to your sensibilities and your culture.
Let’s take a good look at the Mañosas for example. The reputation they have enjoyed as developers for decades was primarily built on the foundations of their legacy as real-estate builders. However, their name might not somewhat ring a bell for a good chunk of today’s property-buying market, unless you expound on the idea that they were responsible for iconic developments the local architecture scene have taken pride for, such as the Coconut Palace, Amanpulo Resort, the Banaue Rice Terraces-inspired San Miguel Corp. Building at the Ortigas Center, and Pearl Farm in Davao City. That alone will help paint a clear picture of the kind of brand the Mañosas stand for: innovators of bespoke community living.
Branding initiatives should also be responsible for improving quality of life and social perception toward specific values. We take pride in the success that the “Lola Techie” campaign we did for Bayan Telecommunications several years back was able to accomplish just that, same with all our tourism and provenance-building work for destinations like Bicol, South Cotabato, Bohol, Palawan and many more. Branding, if done right, should elevate the discourse and bring a greater awareness for things that often are not given much attention.
Branding is an enterprise approach
APART from determining the success of your brand’s marketing initiatives, successful branding also ensures the optimal operation of your entire business. It impacts significant elements like manpower hiring, personnel engagement, interior design, and even long-term relationships with other business partners.
Branding also helps you identify your path toward further growth by enabling you to address issues associated with your industry, take the necessary plans of action, and get back to business in about 30 days. That’s exactly what Ayala Land did in 2013 when it found itself mired in controversy following an explosion at Serendra in Bonifacio Global City.
All in all, branding is an efficient way for real-estate developers to foster new streams of profitable revenue growth. By creating a unique, impactful and relatable identity, branding successfully helps developers get their brands imprinted into the consciousness of a significant chunk of property buyers.
Entrepreneur Success Summit
SPEAKING of brand-building initiatives, I would like to express my heartfelt thanks to the organizers of the coming Entrepreneur Success Summit 2014 for inviting me to share valuable insights on how entrepreneurs from across different sectors—including real estate—can start and grow their businesses and ideas. With the Asean integration happening in 2015, new competition armed with new business concepts is coming in, which is why it is truly a must for us to help strengthen local business and provide a platform where business owners, real-estate developers and executives can showcase their innovative products and services.
I’d like to invite all of you, my dear readers, to know more about how branding and communications are transforming insights and growing businesses across different sectors as I, together with an entire cast of business professionals, grace the Entrepreneur Success Summit 2014 this coming Saturday, June 28, 1 p.m. at the SM Megamall Megatrade Hall Function Rooms.
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