Be the 'Category of One'
I am a ‘category of one.’ I am the only person in the US who does exactly my type of real estate and relocation consulting. There are people who offer services to facilitate referrals for one or multiple brokerages, but that’s not my thing. There are others who work with specific brands targeting specific business sources. I am not that. There are others who work directly with corporations regarding their mobility programs … that’s not me.
I help brokers, destination service providers, and even some relocation management companies to develop or expand revenue opportunities and improve service delivery.
When I started my business, I worried no one would hire me. And, on occasion, I still have trouble convincing some business owners that I am worth the money. It’s often because they can’t see a bigger picture. They think small. But they have to be willing to explore new ideas and opportunities for growth. Some in our industry can’t open their minds or aren’t willing to do the work, so they stay exactly where they are. Sometimes, you have to take a little bit of a risk to reap great rewards.
Here is what Chat GPT has to say about being a ‘category of one.’ “ A ‘category of one’ brand refers to a unique position in the marketplace where a brand is perceived as the sole occupant of a particular category, essentially creating its own niche. This means that the brand is not just leading the category but is in a category by itself, without any direct competition. To achieve this status, a brand must offer something truly distinctive and valuable that resonates with consumers, setting it apart from all others.”
Here are some examples of ‘category of one’ brands past and present:
Uber (A new approach to paid transportation)
Netflix (A new way to watch movies and TV)
Cirque de Soleil (A new form of live entertainment)
CarMax (A new way to sell used cars)
Apple and the iPhone (Consumer devices at affordable prices)
SpaceX (Space exploration developed in the private sector)
Amazon (Amped up online shopping all in one place)
VRBO (A new way to vacation)
Lego (A new way to build toys)
Starbucks (A new way to drink coffee)
PayPal (A different way to pay)
All of the above have been around for a while, and some have maintained their ‘category of one’ status, and others have had copycats emerge. Some coexist with the models that inspired the creation of the business. Basically, they all turned an existing concept on its head. It is a powerful strategy for businesses and individuals, but it is not without risk. Some of the above cost a fortune to launch, while others started small and grew over time. And there are many concepts that didn’t make it at all.
You are a ‘category of one’. Exploit it.
People in relocation and mobility are often in a ‘category of one’ in their own company. Meaning they are a unique entity in an existing organization. There is one relocation director, one leader in talent mobility in corporations, and one president or owner of a service provider. It can be lonely at the top. While these folks may surround themselves with great internal advisors or employees, they are still the ones ultimately responsible for the direction of the company or division. I am convinced that is why we gravitate so heavily to groups like the Relocation Director’s Council and WorldwideERC, where we can congregate and share ideas with like-minded people.
When a professional football team fails, it’s the coach that gets fired, not the players. That is the burden of leadership. But finding a way to set yourself and your company apart takes some effort. Creating a ‘category of one’ can be a powerful strategy for businesses and individuals alike.
Genius? Hardly!
When I was a Relocation Director, I had regional VP counterparts across the country. They were not only my friends; it was comforting to commiserate and share ideas without judgment. But I purposely exploited my ‘category of one’ in my own region of the company. People in my region all knew that no one else knew more about relocation than I did. They wouldn’t have dreamed of reaching out to a person outside of our company for advice or information.
When I attended leadership meetings, I would specifically discuss things I knew they weren’t familiar with but would still be of interest: trends in mobility, legislative changes, and local economic development activity. By the time I was done with them, they thought I was all-knowing. I am certainly not that, but I spoke with confidence in an area where they had none. I focused on information that affected our local business without talking about the minutia of my job. I was a ‘category of one’ who they looked to for advice on anything relocation. But that took years of developing trust, so they knew I was always honest with them.
I made myself the resident expert, touting my profit numbers, certifications, and awards. It’s ok to brag. Some Directors miss out on that opportunity. Don’t assume that people in your company understand the importance of your expertise and relationships. Decisions regarding layoffs are made based on org charts and salary amounts, often without a clear understanding of the value we bring. Make yourself indispensable.
Now is the time.
Real estate companies, relocation departments, and agents have an opportunity to create a ‘category of one’ by reinventing themselves and establishing new standards that are uniquely theirs. There is no better time to differentiate yourself and your brand. Consumers and our sources of business are looking to professionals for guidance, and there will be a lot of distracting noise out there.
It is not about competing. It is about creating a value proposition that resonates with all stakeholders, carving out a niche based on your unique skills, and establishing new benchmarks. There is going to be a lot of uncertainty and misinformation out there (already is). How can we differentiate ourselves so we stand alone in our own category, essentially without direct competition?
Get out in front.
Anyone who touches the real estate process in the next year as a consumer or a service provider to the industry is looking for guidance and validation. By not being directly comparable to others, we can create confidence at an uncertain time, which can solidify our personal brand.
I have created my own space in the market by writing a lot about the current NAR Settlement climate and how it may affect relocation. I want to be perceived as an impartial expert. That is why brokers, RMCs, and even corporations have reached out to me to discuss my thoughts on the matter. Establish yourself as an impartial expert and a ‘category of one’ in your market. Every MLS, market, city, and state may end up doing things differently. If you can impartially articulate the differences and translate them into communication that is easy to understand and consumer-friendly, you will be the go-to person for information (and business).
The way to differentiate ourselves and our brand right now is to:
Share your views. I don’t mean opinions; I mean views—your view of how we can make something better by being strategically different. Some people are scared to speak out. Get over that.
Establish yourself as the local expert. Help people understand the unique nature of your market, company, and department.
Be curious with an entrepreneurial mindset. What does the consumer need at this moment? What about our sources of business? How can we fill a void? What are their pain points?
Get involved and be visible. That gives us a platform to engage with others and learn.
Educate. Offer to do training classes for your sources of business.
Have a clearly defined value proposition. Not just the features of what you offer but the benefits to the end user.
Find out your leadership's worries. How can we support them and the agents by making ourselves indispensable?
It’s ok to start small. Every idea doesn’t have to be a winner, and it certainly doesn’t have to launch with fanfare. Test the waters and go from there.
Listen. As more transactions are completed under the new NAR Settlement guidelines, stories will begin to emerge. Gather those stories to share with those who need to hear them.
Adapt as needed. Be flexible and forgiving.
Drown out your competitor’s noise. We can’t worry about what others are doing, but we need to know what they are doing so we can improve upon it.
Look outside of our industry. There are clues in other types of businesses. The creators of Uber studied the taxi cab business and found its flaws.
Give yourself some space to think. Our days can be filled with emails, social media, family, coworkers, etc. Grant yourself some time to sit with your thoughts and let your mind wander.
Stand out and drive innovation. Observe what has already been done, and while it may still work, how might it be improved upon? We didn’t know we needed Uber until we had it.
Open your mind to new ideas, which may mean seeking outside advice from impartial advisors. It can be risky but also highly rewarding to be a ‘category of one.’ Let me know how I can help you become one.
It’s not enough to be the best at what you do. You must be perceived as the only one who does what you do.” ~Jerry Garcia, American musician and vocalist of the Grateful Dead.
