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Setting Marketing Strategies

Analyzing the Business Climate

Creating Your Market Identity

Planning Your Advertising

Coordinating Company and Salesperson Marketing

Developing Public Relations Strategies

Enhancing Customer Service 		  Creating Your Market Identity: Do's and Don'ts

Once you’ve selected a marketing strategy, your next step is to translate that strategy into an effective, consistent identity to use in your promotion.

Image Do's and Don’ts

The company’s image determines how it is viewed by peers and prospects alike.

Do
  • Align your chosen image and your long-term business goals. Your image should reflect whether you see your company as a small, high-service boutique firm or a large, multi-office firm dominating a market.
  • Select an image that’s realistic. Don’t try to portray your company as the leader in sales when you are competing against companies with much greater volume.
  • Be consistent in portraying your image and theme across all the promotions you do. If your company is trying to achieve a high-end professional image, don’t employ scantily clad models to hand out your materials.

Don’t
  • Change your image too often. You may want to reposition your company at some time to reflect a changing market, but don’t rethink your image too often or customers will become confused.
  • Forget to ensure that the image you try to create is one that will appeal to your selected market.
  • Neglect small details. A professional company image can be destroyed by dusty furniture or sloppy presentation materials.
  • Ignore image. Your company has one whether you know it or not.

7 Factors that Affect Your Image

Creating a successful image for your brokerage company is an important marketing step. But that image has to be grounded in reality. Ask yourself:

1. Is the company a long-established one is it young and dynamic?
2. What particular market segments does the firm serve?
3. What specific services does the firm offer?
4. What is the style and personality of the company’s owner and top brokers?
5. What is the company called, and what image does that convey?
6. How aggressive is the competition? Extremely strong competitors may require a more assertive image than a relatively stable environment.
7. What are the company’s strengths that should be emphasized.

Adapted from Marketing for Competitive Advantage, Course 503, Council of Real Estate Brokerage Managers, 2001

Choosing a Name

Do
  • Consider using your own name—if it’s not too complicated or hard to spell. Real estate is a person-to-person business, and using your name gives your business a personal touch. Also, when you put your name on your business, you put your personal reputation at stake. Your customers will appreciate that commitment.
  • Be distinctive. If your name sounds too much like a competitor’s people won’t remember it.
  • Keep it brief. Avoid adding useless add-ons like “and associates.”

Don’t
  • Use initials or acronyms. People won’t remember them, and—unless they are IBM—initials don’t immediately convey who you are.
  • Use city names. That could limit your future. If you are called Northtown Realty and you want to open an office in Southtown, you may have a problem.
  • Try for trendy. Something that seems hip now may seem dated in a few years.

Tips for Designing a Powerful Logo >		    
 
 
 
 
 
 
 
 
 
 
 






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