Building and Preserving the Brand Image
A long time ago, there was a very small broker in my market for many years that was a fierce competitor in the relocation space. They were an unlikely competitor because they had a minuscule market share, and their agents only did relocation, so they weren’t particularly well rounded. I admired the heck out of them because they were branding geniuses. No one outside of our market knew what a small broker they were, and I never revealed their little secret because I admired their genius marketing strategy. They had one focus and they did it very well and had figured out a way to create a marketing illusion.
There are many brokers who come across as market-dominant who aren’t, and there are those who undersell their local achievements. If the internet and social media have taught us anything, it is things aren’t always what they seem on the surface. It’s pretty easy to manipulate the way some people think.
Preserving the brand image
There are real estate industry entities who no matter what is going on maintain a solid brand image consistently. Everything will seem fine, and then a big story breaks and they are going out of business, or a scandal is revealed, or a giant layoff happens. When it comes as a surprise, it always makes me wonder what kind of drama has been going on internally and no one knew, or no one talked. It’s pretty hard to keep secrets these days with eyes and ears everywhere and information so easily shared in real-time. The media is always on high alert for a juicy story. Whether it’s for ratings or readership, it doesn’t matter, the public typically still benefits from knowing. The key is being able to sort through the noise for the truth from reliable sources.
Many companies have survived horrible scandals and others bit the dust for far less. The key is that people have short memories, and they are easily distracted. Human nature is predictable and masterful marketing can pretty much heal most wounds unless it involves the unthinkable.
How far do we take transparency?
When we are trying to tell our story, we have to make a decision about how far to pull back the curtain. While I am all for transparency, sometimes it is best to leave some things in the dark. People what to hear what they want to hear. So, when positioning our brand, we must appeal to our likely audience. What are their hot buttons and how can we push them?
Sometimes what seems like it should be important, isn’t at all in the minds of the consumer. That’s why focus groups and surveys exist. Making assumptions can lead us down the wrong path. The key is to establish the brand and stick to the story. That is why brand guidelines exist, to create a forward-facing company persona that imprints what they want us to know about their brand. It may or may not be a reality, but that is not the point. That’s why when scandals are finally revealed, they can be so shocking.
When thinking about this, my mind flashed back to the Subway scandal with their creeper of a spokesman, Jared. While the entire thing was horrifying, Subway bounced back and now has many famous wholesome spokespeople hocking their sandwiches. When things go sideways, the key is to have a plan, create distance from the offender and do what you need to do to get back on track. It may mean hiring outside help or gathering input internally and externally, but the key is to not try and do it alone because being too close to a situation can cloud judgment. Manage the solutions with honesty and let your actions show your integrity. It all comes down to making it right, punishing those who deserve it, and moving on.
Whether it is a personal or professional challenge, know that this too shall pass. As the saying goes, no one ever died of real estate. But have a strategy and do the right thing, stick to the message and focus on the future.
“Thank God for our form of government. The media won’t let there be any cover-up.” ~John McCain, American politician, statesman, United States Navy officer, and United States Senator
