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Marketing smart starts with a marketing plan

Every once and a while I get something that is just too good not to share. Dean is a fellow Master's Program Graduate and is the CEO of one of the finest Ad agencies I've ever been exposed to. I received this article last week from him and thought it dovetailed into the branding series I wrapped up this last week. I hope you enjoy Dean as much as I do -

Fact: No major player in the B2B or B2C space makes a marketing move without research and planning. That's why they're the majors.

Ever hear of a company that launched a successful new business campaign without aqualified, measurable plan? It does happen, as does winning the lottery, but the odds are about the same. Fact: No major player in the B2B and B2C space makes a marketing move without research and planning. That's why they're the majors. They discover the path of least resistance and the path of highest probability and often know before a project is launched if it will succeed and how well. The good news is you don't have to be a Microsoft® or Proctor & Gamble® to market smart.

Perhaps you're thinking that research is expensive and marketing plans sit on shelves. A fair assumption; but the truth is you will profit immensely from the planning process if it is completed and executed correctly. Guaranteed!

The first step to serious brand and business development success is to discover the who, what, where, when, why, and how of your market and your competition. The next step is to form a measurable, quantifiable and executable plan... a realistic plan... one that will stimulate best thinking, make best use of your resources, identify new marketing opportunities, and turn them into manageable, measurable results.

The "Who" in the planning process clarifies with whom you will partner to develop and execute the plan. Who will the key employees be on your planning team and what will their roles be? Who are the necessary marketing vendors? Who are the affiliates, investors and consultants who will be needed for this collaborative effort? In the "who" equation, talent level is critical, so work with the best you can get.
Your growth and your sanity depends on it.

"What" implies your position in the market from a corporate or product/service perspective. Define and/or create value propositions that your audience can only get from you. And please, kill the "more of the same" that exists in your market by differentiating your brand.

The "Where" question identifies where you will market. It could be to the end-user, channel-partners,
affiliates, and people or groups that are talking to the same people you want to talk to. This is your database, and the phrase the "database is the business" couldn't be more relevant than it is today. Ample time should be spent in this process as company turn-arounds and better bottom lines have occurred simply by identifying, stratifying, prioritizing, and approaching the proper markets.

"When" is simply the time frame to execute the plan, usually an annual event with specific tactical timelines for each project. The value of the timeline is that it provides foresight to integrate marketing mediums, translating into improved marketing effectiveness and the accountability needed to keep your plan and your people on track. A plan without detailed timelines is a fantasy.

"Why" gets into the vision of the company, the philosophy, the mantra. It shows up in the emotion of your people who hopefully, have been given a purpose worth 110% participation. For example at Strata-Media, our promise is that "our clients will never spend more with us than we make for them." Hence, we've branded ourselves "The ROI AgencyTM ", and trademarked the phrase "Think ROITM". It's a mindset we establish with everyone who has contact with the agency and a commitment we can get our hearts around.

Lastly, "How" refers to the tactics you will use to develop the marketing mix of sales and sales promotion, advertising, public relations, and branding into a single integrated program for coordination at all marketing levels. Planning allows you to test these tactics and refine their use and their effectiveness, which means over time, you'll be doing more of what works and less of what doesn't and your marketing will be optimized.

To sum it up, if you want to market smart, you must create a plan, work the plan, measure the plan, refine the plan, and finally, reap the success that even the most basic plan will bring. "It's not rocket science; it's a simple commitment to plan."

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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Article used with permission and credited to Dean Del Sesto, CEO and Managing Partner, Strata-Media, Inc.

 

3 commentsChris Pollinger • May 30 2008 09:56AM

The 10 keys of direct mail success

Every once and a while I get something that is just too good not to share. Dean is a fellow Master's Program Graduate and is the CEO of one of the finest Ad agencies I've ever been exposed to. I received this article last week from him and thought it dovetailed into the branding series I wrapped up this last week. I hope you enjoy Dean as much as I do -

If direct mail is considered the most targeted form of advertising, then why do so many people experience miserable failure?

Most buy a list, merge it with their own, (sometimes), create a mail piece, and blast it off to a list. Next, they wait for the phone to ring and when it doesn't ring, they blame direct mail for the failure. I wish I had a dollar for every business I visited that said "We tried direct mail...it didn't work." Truth be told, it wasn't the fault of direct mail.

Let's just say a few or more of the 10 keys of direct mail success never made it into the loop. The 40/40/20 rule is a broad stroke look at what makes direct mail work: 40% of the success is due to the quality of the list you're sending to; 40% is due to the strength of your offer; and 20% is due to the graphics and printing of the mail package.

More specifically, let's go to the 10 keys.

1. First, before you mail, make sure you have an accurate, updated prospect database, and, depending on the offer, also send to your existing clients. How and where you buy your list is critical to the success of any project. Unfortunately, most lists purchased are obsolete by the time they hit your desk. If the list isn't current, use a title slug such as Marketing Director, President or HR Manager on your labels instead of a person's name to get to your prospects. However, contact names are always more effective. If you're planning to send a valuable package out to a list, spend the time to call and confirm detailed contact information. You'll need it for follow up anyway.

2. Make sure you send a mailer that clearly presents a strong offer of real value. For example, the words FREE, COMPLIMENTARY, 2 FOR 1 or 20% OFF are gold in the direct mail arena. It's proven that these words are mental magnets to your mail recipient. If, in the chaos of running your business, you haven't thought of anything great to offer, create an offer of real value before you mail. Don't try to be cute with hyper-creative copy and esoteric graphics either. They don't call it direct mail for nothing - be direct.

3. They say color increases readership by 41%, but great copy and a well-designed piece creates readership. Color isn't everything, but it helps and is recommended.

4. Make it easy for the recipient to respond to your offer. For example, include an "800" number or a prepaid envelope or reply card, especially if you want more information from the prospect. This will enable you to track where the leads are coming from and measure the effectiveness of the campaign.

5. Make sure everyone in your company knows about the mailer before it goes out. You'd be surprised how many people will call an advertiser, and the employee who picks up the phone is clueless or untrained on how to field the call.

6. Use an odd shaped or oversized mail package. It stands out from the mountain of mail we receive and is always worth the extra money.

7. Test different mail packages to the same database to determine which brings a higher rate of response.

8. Never do a mass mailing without a small test mailing, and always check postal regulations for your mail campaign to see if it meets standards and is optimized for postal discount and delivery efficiency. Trust me on this one.

9. Always follow up on every mail piece with a phone call, if possible. Sales conversion rates can multiply by 10 with good telemarketing and lead qualification follow-up.

10. Don't mail just once. To determine mailing effectiveness, mail at least three times to the same list.

11. Why eleven if it's "The 10 keys?' A good marketer always goes beyond what is expected and gives something of extra value to their audience. Lastly, whatever the cost, always measure the effectiveness of every marketing effort. A good marketer always measures and does more of what works and less of what doesn't. It's that simple.

 

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

To subscribe via email

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Article used with permission and credited to Dean Del Sesto, CEO and Managing Partner, Strata-Media, Inc.

 

 

 

12 commentsChris Pollinger • May 29 2008 12:39PM

Marketing smart in a down economy

Every once and a while I get something that is just too good not to share. Dean is a fellow Master's Program Graduate and is the CEO of one of the finest Ad agencies I've ever been exposed to. I received this article last week from him and thought it dovetailed into the branding series I wrapped up this last week. I hope you enjoy Dean as much as I do -

 

In today's economy, the mindset of spending money on marketing seems to be like the mindset of going to Las Vegas. Pretty risky. The only difference is that going to Vegas means there's a good chance of having a great time.

On the marketing front, however, there is hope. Lots of it if you market smart. Here are a few tips.

First, realize that during a down economy, people typically clam up their advertising dollars. The result is less ad saturation in your marketplace. The opportunity is that your advertising now has a stronger chance of being seen. Also, the perception of those companies advertising in a down economy is of a strong, confident company. On top of that, customers typically experience bad customer care because most companies are downsizing, causing inefficiencies. Hence, those who are mistreated may be looking for a new provider during the down times and lo and behold, there's your ad. The time to pick up market share is not when the economy is thriving, it's when it's choking.

In your initial ad planning stage, take an honest assessment of the advertising vehicles you've used in the past. Often, there are a couple of advertising methods that worked pretty well. For some strange reason, every client we talk to has one or two of those tactics they stopped doing because they got too busy from the inquiries generated by advertising. Whoops!

Next, if you are planning any new advertising methods, evaluate them diligently. Your advertising rep should give you an advertising/cost rationale, and you should be able to talk to a couple of their non-competing customers to see if the advertising is pulling. If they say you can't have testimonials, run, don't walk, away from the pseudo-opportunity.

During the down times, the phone is your friend. While people are spending horrific amounts of cash on untried tactics, others are getting on the phone and making those cold calls. FACT: 100% of those clients we told to increase their phone work reaped tremendous success. And the phone is cheap by comparison.

If you're using direct mail in these lean times, make sure your database is up-to-date with current names and current addresses. This will minimize the waste and maximize the penetration of the campaign. And don't forget to mail to your existing customers.

Public Relations is another under-utilized tactic. Press releases about news relating to your industry, in essence, are free advertising. The right story in the right publication can help reel in new business. Remember though, it must be newsworthy and relevant. Editors get inundated every day with hundreds of press releases, so don't send in junk press. Also, use the media to get published, like I am. I've gotten a few calls, and plus, it makes me feel famous, like Tom Cruise.

If you like to speak in public -- the number one fear of human beings--have at it. It's very effective. Relevant presentations in your area of expertise can be a tremendous method for generating more business and building your reputation, especially if you get in front of the right people.

Please don't invest money into your Web site thinking that if you do, more business will come. Your Web is, in essence a store, and you have to drive people to it with advertising, just like a store. The most cost effective way to drive people to your Web site is through viral marketing and Search Engine Optimization.

Image ads and brand building agendas have to go by the wayside during tough times. Direct response ads, where you're offering something substantial, must be the consistent discipline. Think about it. Would you respond to an ad that offers one piece of free dry cleaning for every 50 pieces cleaned? Or would your respond to an ad offering every third piece free? Make it compelling.

Always ask for referrals. This is the most commonly overlooked marketing vehicle in existence. It's also a practice that thrives with those who have a system to remind them to do so. If you could get one new client per week by asking for referrals, that would be 50 per year, or 500 over the next 10 years. Not to mention the incoming referrals that just come with great service.

Finally, let's not forget intestinal fortitude. During down times, people think that working at the usual pace will do. It won't. Many stress out, check out, and think things will change by themselves. My dad use to say that in business, you have to grow just to stand still. Slow economies dictate that you not only work smart, but that you take your commitment disciplines and your attitude to a whole new level.

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

To subscribe via email

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Article used with permission and credited to Dean Del Sesto, CEO and Managing Partner, Strata-Media, Inc.

 

3 commentsChris Pollinger • May 28 2008 12:52PM

Building your brand to build your business

Every once and a while I get something that is just too good not to share. Dean is a fellow Master's Program Graduate and is the CEO of one of the finest Ad agencies I've ever been exposed to. I received this article last week from him and thought it dovetailed into the branding series I wrapped up this last week. I hope you enjoy Dean as much as I do -

 

If you have a desire to improve your brand identity in the marketplace, step one is to accept that times have changed.

Fifty years ago, you could advertise your brand on a game show and six months later, Presto! - a 30% increase in market share. Those days are long gone. Today, in our over-communicated world, your target market mindset is busy, distracted, and on to the next thing. In essence, your audience's minds are like dripping sponges - leaving little or no room for another "average" brand message. Feel familiar?

For starters, what is your brand? Aside from the foundation of your business net worth, your brand is the real estate you own in the mind of your prospects and clients. For example, when you think of tissues, does Kleenex come to mind? Golf - Tiger Woods? Car safety - Volvo? Regardless of your business size, your brand is somewhere between front of mind and nowhere to be found in the mindset of your current or potential clients. The goal is obviously for your audience to think of no other business but yours. It's called dominating mindshare and it's a discipline practiced by few.

In contrast to yesteryear, where branding was the color of your package, the consistency of your graphics and the face of your product, branding is now the comprehensive experience one has with your company. Today's branding is a combined effort of how you are selling and servicing your markets. Your brand is comprised of how you promote and persuade, how you care for your customers, and what you stand for within your target market(s). How you sell and service must be audited, stratified, planned, and integrated to ensure repeatable positive experiences. And for your brand to stay intact, the experiences must stay perpetual with every prospect, every client, every business partner, every investor, and every employee. It's a bold philosophy that will position you as the leader in your category with a brand that has staying power - if you have a commitment to brand.

Selling, as it relates to brand development, is simply how you get the word out. Either through advertising, direct selling, channel selling, direct mail, public relations, etc. The key to effective selling is to first find out what is relevant in the mind of your consumer. Best guessing, by the way, is not a good method for finding the hot buttons.  Research is. For example, one of our clients in the financial services business sells loans to brokers who, in turn, sell those loans to end-users. After some cursory research, we determined that speed of approval (most important), ease of process, and attention to detail were this client's key points. We built our entire brand platform around simple, accurate loan approval in seconds vs. hours, even days. Every ad, every show, every sales rep, direct mail piece, every phone call, and every detail is built around this message. The brand is speed. The discipline lies in keeping the message consistent, not changing it after three months because the phones aren't ringing off the hook.  Adjustment is fine, but be consistent with your message, because branding is a process, not a singular  event. You can see again why research of market relevancy is so critical up front. Branding is tricky business, and as a major investment, it's vital to get it right from the starting line.

It's a little known fact that the biggest brand opportunity lies in how you serve your clients, not just how you sell to them. Nordstrom's service excellence has allowed them the luxury of spending less on advertising because their employees' commitment to excellence has strengthened their brand to near perfection. Every phone call, return, consultation, and purchase is handled so well, that for some, the idea of shopping elsewhere is ridiculous. So while others are spending big to steal Nordstrom customers with advertising, Nordstrom spends more money on training and rewarding their employees to serve clients more effectively. The result? Customer loyalty is sterling and word-of-mouth accolades are perpetual and potent.

Remember, when it comes to branding, the discipline is in the details. Your sales calls, presentations, follow-ups, how you handle client conflict, marketing tools, your building, lobby, dress code, etc., etc., etc all make up your brand. So rest assured, a strong commitment to a comprehensive and strategic brand initiative is your assurance for success.

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

To subscribe via email

To subscribe via RSS reader

 

 

Article used with permission and credited to Dean Del Sesto, CEO and Managing Partner, Strata-Media, Inc.

 

 

7 commentsChris Pollinger • May 27 2008 01:11PM

Quantity and Consistency = Quality

Quantity and Consistency leads to Quality.  It is almost impossable to do anything with enough consistency and repetition that you don't develop some amount of proficiency over the course of a few months.  However, Most of us fall guilty of not sticking with something long enough to see it through. 

I truly believe you don't need to be good at everything, especially in prospecting.  Show me someone who does a little FSBO, a little expired, a little door knocking, a little updesk, a little of this and a little of that and I will show you someone who is getting out of the business in the next 6 months.  There are only a few productive prospecting avenues (vs marketing where the field is almost limitless).  Find ONE that works for your personality and do it with enough consistency and quantity and you will soon find yourself excelling and becoming the panel speaker for the subject.

 

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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2 commentsChris Pollinger • May 20 2008 10:16AM

Why we don't get more referrals

There are two main reasons why some of our greatest agents aren't achieving the completely realistic benchmark of 50% for referrals from their active clients. 

First, Most of us assume that our clients know what to do and understand our love for referrals.  What we forget is that our clients are not in the Real Estate business and need to be educated on how to recognize the "referral moment' and what to do when it arises.  If we incorporated a simple dialog at our first meeting together saying - "Now that you have made a decision to buy or sell, you will notice a strange phenomenon, much like when you bought your last car (got married, had a baby, etc).  When you were looking at that car and first got it, weren't you amazed at how many others you saw around?  The same thing happens in real estate.  As you begin looking and throughout this process you will start seeing other people that are looking to buy or sell.  All I ask is that when those situations come up that you remember me." 

The second is that we do a great job minimizing the great job we do.  Our standard of excellence is a part of our service package and has become old hat to us.  The challenge is that our clients have no idea that our service is exceptional because they don't have a standard to measure it against.  Overcoming this is easy, especially since the service is there.  We need to start weaving opportunities to tell our clients the truth.  Drama happens in every transaction, and while I am not advocating dragging your clients through the drama, I am simply suggesting you communicate it to your clients with how you saved the day.  If we can also enlist our strategic partners (escrow, title, mortgage, inspectors, TC's, etc.) to simply drop a note, phone call or comment to our clients to the effect of "I work with a lot of different agents, and I have to tell you how fortunate you are to be working with one the very best."  Your clients feel like a million bucks and it creates an atmosphere for them to say "wow" and tell a friend, or two or twenty.

 

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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6 commentsChris Pollinger • May 20 2008 09:43AM

Do you have integrity?

"Do you have integrity?" I was asked this at Richard Robbins conference a few years ago. As I looked around the room, 99% of the people in attendance had their hands raised. Richard then asked if you had ever made a commitment to yourself - to eat better, be organized or get to the gym. Then he asked if we had ever not lived up to that? Have we ever made a choice to lie to ourselves and break a commitment? All the hands went down. He made the point that if we couldn't have integrity with ourselves, how could we extend that in our dealings with others?

I just finished the book - Integrity: The Courage to Meet the Demands of Reality by Henry Cloud. It was a great book that outlined the importance and elements of integrity. Among the highlights and points of the book, he included what he thought were the essential elements of integrity -

· The ability to connect authentically - which leads to trust

· The ability to be oriented toward the truth -
which leads to finding and operating in reality

· The ability to work in a way that gets results and finishes well -
which leads to reaching goals, profits, or the mission

· The ability to embrace, engage, and deal with the negative -
which leads to ending problems, resolving them, or transforming them

· The ability to be oriented toward growth -
which leads to increase

· The ability to be transcendent -
which leads to enlargement of the bigger picture and oneself

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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1 commentChris Pollinger • May 20 2008 09:32AM

Fishing for Income

Most of the real estate community is stuck fishing for income. Living deal to deal and in feast or famine.

Almost all of life has a financial aspect to it. The surplus of it adds to yourpossibilities through opportunity and the laws of attraction. As they say "The rich get richer..." It's true, but not because they have money. Wealth is a by-product of the way they think. If you change your thinking, your habits will change, your habits change and your account balances will take a turn for the better.

Here are a few questions to give a quick "check-up from the neck up."

· How is your financial situation?
· How stable is your income stream?
· Do you live within, at, or beyond your means?
· Are you a natural saver or a habitual spender?
· How much credit card debt are you carrying?
· How much money is enough for you?
· What actions could you take that would double your current salary or profit?
· What mistakes do you seem to make with money?
· How much of a priority is making more money?
· What holds you back financially?

We are all guilty of not getting in right, the point is not to beat you up and have you start your day on a downer, but to remember what we need to focus on to make tomorrow a little brighter.

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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2 commentsChris Pollinger • May 20 2008 09:11AM

How to have consistancy on irregular income

One of the greatest challenges in America today is financial mastery. The Social Security Administration says that only 2 out of every 100 people in the richest country in the world will ever have enough to retire when they reach 65 without needing to depend on relatives, charity or the government.

Our own personal freedom with our time is directly related to our financial freedom. We have found that there are a number of agents out there making in excess of $750,000 who are in worse debt and financial trouble than those who make $75,000. How does this happen? Good or bad money will only amplify your character and habits.

We need to start thinking differently than most if we would like to be the minority who make it to that top 2%. The principles below have been tested and will work for anyone, but are especially useful for those that have varying incomes like real estate salespeople. The principles are no respecter of age, race, color, creed or sex. Follow them and you will live in your wildest dreams - ignore them and your will live in your worst nightmares.

Here are some of the characteristics of the rich from researcher Thomas Stanley, PhD -

· They follow and maintain a long-term vision.
· They follow their plan no matter what - even in the face of financial challenges.
· They study wealth and wealthy people and do not rely solely on expert advice.
· They believe in deferred gratification.

 

Here's the step-by-step plan that I picked up over the years that allows you to grow wealth despite the irregularities of Real Estate income-

Step #1 -Set-up your accounts
Set-up the following accounts at your financial institution.

Professional Operating Account - Money to run your real estate business.
Personal Operating Account - Money to fund your life.
Income Tax Account - Money to pay taxes.
Charity Account - Give, give, give.
Security Account - No risk and low return investments.
Growth Account - Higher risk and higher return investments.
Fun Account - Second cars, vacations, special events, etc.

Step #2 -Divide Your Income
Transfer 25% (If working solo) - 50% (If working as a team) of your earned income to your professional operating account.

Total what is left and divide it as follows:

· Personal Operating Account - 45%
· Tax Account - 25%
· Charity Account - 10%
· Security Account - 10%
· Growth Account - 10%
· Fun Account - 0% (yes, it's 0% but don't worry we get to it later)

Step #3 -Redistribute Your Funds
Every quarter, take the profit from your growth account and any special moneys that may come in (gifts, inheritance, etc.) and divide it equally amongst your growth, security and fun accounts.

Step #4 -Plan Your Financial Future
Review a professional and personal profit and loss statement, and a personal net worth statement monthly.

Step #5 -Educate Yourself
Seek good, financial, insurance and tax advice - but make your own educated decisions.

· You must study investments yourself and only invest in what you know well.
· If you think education is expensive - try ignorance.
· Be patient, wealth is like a tree, it grows from a very small seed.

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

To subscribe via email

To subscribe via RSS reader

 

 

 

What some more help in the financial mastery arena? Here's a short list of a few books worth reading for wealth building:

How to Be Rich -- by J. Paul Getty; Paperback

The Richest Man in Babylon -- by George S. Clason; Paperback

The Millionaire Mind -- by Thomas, Ph.D. Stanley; Paperback

The Millionaire Next Door: The Surprising Secrets of America's Wealthy -- by Thomas J. Stanley, William D. Danko; Paperback

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! by Robert T. Kiyosaki, Sharon L. Lechter

 

 

4 commentsChris Pollinger • May 20 2008 09:01AM

Secrets to Successful Branding - The Law of Borders

Secrets to Successful Branding - The Law of Borders

If, we, as the real estate community really understood the concept of branding and its importance, we would save a fortune by cutting the misplaced dollars we are spending in the name of "getting their name out there."

Most of us are re-treads - people who fell into this business and came from some other background. In 15 years of asking, I've only found one person who grew up wanting to be a real estate agent (and she is no longer in the business). I can't tell you how many people I've interviewed as a Broker that said the reason they wanted to be an agent was because they liked houses and people. If that is the sole reason they are here my advice to them has been - "Don't get started in this business because in 6 months you will hate them both."

Those that make it in this industry in today's world are those that approach it with an amount of business prowess. Unfortunately, that isn't taught in the "learn everything you need to know to become successful in real estate in two weeks" class. So, we throw the newbies to the vultures (vendors who sell BS products that do nothing but line the pockets of the vendors and serve as filler our nation's dumps). We let them sling mud on a wall and see what sticks and hope against hope that they will be one of the very few fortunate ones who will survive the first three years.

Over time, those that emerge as mega agents realize that to truly win in this you must realize that it is a business not a career (and there is a major difference) and start learning how to become the "RainMaker." Although we have dozens of proprietary campaigns to generate more leads, from time to time, we need to strip back to the basics and dive into the philosophy to align ourselves with the right thinking to launch our business to the next level. This week, it's all about how to brand effectively so that you may maximize your ROI in any marketing or advertising program your engage in. From Al Ries, a master of marketing and branding in the retail sector, we take the lessons and apply the fundamentals to our real estate businesses.


One Secret in Branding is the Law of Borders

Be very careful about tying your brand to a potential variable. A brand should know no boarders and be independent of outside controls. Take your broker's brand for example. What if the deal changed and it was no longer the best place for you to hang your hat and serve your clients? What if they became adversarial to supporting to your real estate business? Would your personal brand travel with you or would you have to start over from scratch?

I have known to many fantastic agents who have spent years promoting someone else's brand. None of us enter into relationships with our broker or office with the idea of leaving, but I will tell you that having and promoting your own brand will allow you to have better options should the unforeseen happen. Having your own brand is also necessary to position your business for a future sale. Again, it may not be on the map at this point, but having the option will never hurt you.

 

 

 

Carpe diem,

Chris

You can also click on one of the following links to have my daily blog with helpful life and business tidbits geared to real estate's elite delivered to your computer,

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2 commentsChris Pollinger • May 20 2008 08:46AM