OK that’s it-you have had enough, you are going to shut everyone up that has been telling you to Blog or get on Facebook and Twitter and embrace the 21st century through social media. You’re ready to go, you have waited so long. Now……WAIT!
In the rush to join the social media party you need to stop and think about a staple for any party-the “B” in B.Y.O.B.. Only this time the “B” is not for Beer but rather for BRAND.
A Brand is a set of emotional attributes that you want people to associate with you and your company or business. Specifically, a brand is used to stand out, a strategic set of actions that is necessary to distinguish or differentiate yourself from other Realtors or Loan Officers. Remember these?
“My bologna has a first name, it’s O-S-C-A-R / My bologna has a second name, it’s M-A-Y-E-R”
OR
“I want my baby back, baby back, baby back, I want my baby back, baby back, baby back / Chiliiiiiii’s baby baaack riiiibs / Barbecue sauce”
Rushing into social media could be at best-a waste of time and at worst-catastrophic if you don’t first do your research and develop a brand.
Why? According to “The Immutable Laws Of Branding” In today’s day and age, “most products (and services )are bought-NOT SOLD. “ Because of the Internet, A buyer or seller may choose your brand before you even meet, you may not have a chance to sell them.
Why brand yourself?
Building a personal brand for your real estate business will help you:
- Focus and drive your efforts
- Make yourself more “relevant” to the people who are searching for your real estate services
- Establish yourself as the expert in the real estate industry
- Extend your influence so your credibility is accepted and your reputation precedes you.
- Makes it easier for your market (sphere of influence) to market for you.
- Branding reduces the sales cycle by pre-selling your real estate services to your customers.
Scott Bedbury Starbucks former Vice President of Marketing controversially admitted “Consumers don’t truly believe there is a huge difference between products” which proves that successful brands need to establish emotional ties with their customers.
Branding is serious business. Take note of these failures.
Brand Failures by Matt Haig- 7 Deadly Sins Of Branding.
- Brand Amnesia: Occurs when a brand forgets what it’s supposed to stand for and tries to create a new identity. Example: The New Coke. Enough said.
- Brand Ego: Occurs when a brand overestimates it’s own importance and capability and ventures into other markets for which its ill equipped.
- Brand Meglomania: A result of an inflated Ego. When it occurs, Brands attempt to take over the world and venture into every product category (or market) imaginable. “Call me for your Short sale, Land, REO, Carryback, Leasing, HUD homes needs”
- Brand Deception: Covering up the reality of your brand. This often leads to lies.
- Brand Fatigue: Occurs when you get tired of your brand and fail to maintain it.
- Brand Paranoia: Occurs when a brand faces increased competition. This often results in a willingness to reinvent the brand every 6 months and a longing to imitate your competitors. (I have seen this one over and over in the real estate and Title industry)
- Brand Irrelevance: Occurs when the market changes and the brands associated with it risk becoming irrelevant or obsolete. Example: REO and Short Sale Branding. These markets wont be here forever. Plan ahead!!
Steps to personal Branding
- Discover
- Create
- Communicate
- Maintain
As you can see, branding is serious business. It takes time to look inside to find your Unique Selling Proposition (USP), your passion, goals and expertise. As your brand grows, you will need to maintain it or risk being irrelevant (invisible).
Call me If you are a Realtor or loan officer in the Phoenix Metro area and need help with your personal branding. I can help or refer you to someone that will help you discover your brand.
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