To be certain, these are confusing times. Business is being done in new and exciting ways. Companies striving to market their products are finding that New Media has tipped the scales and traditional media is being challenged to compete. Customers are being courted in a one-on-one environment, not as a homogenous group of non-discriminatory purchasers. And the centerpiece of any great marketing plan – “the brand” – is having its viability challenged and debated at every level.
From my standpoint, I think “brand” is more important than ever. Its value in terms of top-of-mind recall and positive association helps move a consumer from confusion to clarity to decision. So I wonder…if it’s so important, why do so many companies struggle with it? In a world where most things appear on the path to lowest price and commoditization, isn’t your brand one of the most powerful tools you own to differentiate yourself from the pack? I think so.
All this was swirling about my head recently after reading some great articles on branding. Yup, I’ve got some work to do on this subject right here at our corporate home. But in the broader view of our industry, I thought about the recently-launched “I AM ONE®” campaign by the Hampton Roads REALTORS® Association’s. If ever there were a great opportunity for member REALTORS® to glom onto a brand that can really help differentiate their business model, this may be it in these economic times.
The housing crisis has placed many potential buyers in stasis. Fear holds them back from making good decisions at a time when the housing market should be surging thanks to low interest rates, incredible incentives and bottom pricing. Over the last few years, the people they thought they could trust failed them. Suspicion and cynacism is sky-high. Can branding help overcome this? I think it has potential. And what does the “I AM ONE®” brand say to consumers? That REALTORS® subscribe to a Code of Ethics to which non-REALTORS® don’t. That if you are looking for someone you can trust to help counsel you towards the right decision, it’s a REALTOR®. That your confidence in re-entering the market guided by such a professional is well-placed. I think if consumers can simply find people they can count on once again to help them with this expensive, emotional and important decision, they’ll start sticking their toe back into the water.
If I were a REALTOR®, I wear the pin and include the I AM ONE logo in every promotional piece I put out. While it may not be your specific or sole brand, it’s a darned good one to associate with. And I’d solemnly work to uphold my commitment to those ethics, to prove that trust was well placed. It’s a good and necessary first step toward our much-needed housing recovery.
