Branding Yourself to the TOP!
85% of brand decisions are made face-to-face between the sales agent and client. So while having 98% brand recognition with a brokerage like Prudential is valuable and important, you will ultimately make or break the deal.
The VRIO strategy by Dr. Jay Barney of Ohio State University is a four-step process that works effectively to separate yourself from the pack.
- V - Define your VALUE. What makes you valuable to your clients? What do you have to offer that makes your service more valuable than your competitors? Example: You post your listings on today’s leading real estate portals like Zillow, Trulia, Google Base, etc. or you personally send out neighbor letters announcing that you have a new listing or potential buyers in the neighborhood.
- R - Define your RARITY. The characteristics that make you valuable to your client must also be rare. Carve yourself your own niche and go with it. Example: Use taglines, images and service guarantees to help the customer remember you.
- I - Be INIMITABLE. If you are going to be of value and a rarity, make sure that you are offering something that is rare enough that your competitors cannot easily copy. Example: If your stats reveal that you are able to close on your listings within 60 or 90 days of list, then you have something that is rare and difficult for another Realtor® to achieve.
- O - Leverage Your Differentiator throughout your ORGANIZATION. If you say that you close your listings in 90 days or less, add that tagline in all of your marketing materials, brochures, emails etc. Your audience will begin to associate you with that differentiator. Consistency is king when
developing a strategy to set yourself apart from the competition.
Real results can only be acheived when you dedicate yourself to a long-term strategy that will not only get people to recognize you, but also recognize you as the best in your particular market or niche.
