photo by Oliver7perez
Do You Have a Branding Exit Strategy?
If your quest is gaining or sustaining market leadership in your luxury real estate marketing arena, it is a good idea to develop a personal or company brand that appreciates in value over time. That way it can become part of your exit strategy when you are ready to either retire, merge or sell your practice or get involved in a new venture.
Hostess Brands, maker of Twinkies and Wonder Bread, is in bankruptcy. Other than their physical plants (their equipment and real estate) their other salable assets are the Hostess brands. These include: Nature’s Pride, Merita , Home Pride, Butternut, Wonder Bread and Twinkie. According to the Wall Street Journal, “Hostess’s bread brands could fetch more than $350 million.”
Why would someone buy someone else’s brand names?
Instant brand recognition
The brand stands for something in a consumer’s mind—positive emotional associations
It is easy to re-label an existing product with an iconic brand name
No need to establish a new brand name—reduced marketing expenses
One of our clients for whom we developed a strong real estate brand decided to exit the real estate business. This broker had a viable brand and a website with a proven track record of generating and converting leads. A new real estate company that wanted to enter the marketplace bought our client’s name and the website. And, our client ended up with a substantial nest egg for their next venture. The new company was able to have an immediate source of revenue when the signs and staff changed.
Think of your own potential exit strategies as you develop your luxury real estate marketing brand. Forward thinking will payoff down the line.
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