We are constantly asked about marketing strategies and advertising channels from luxury real estate marketing professional nationwide. We say, beware of muumuu** marketers who tell you that one size fits all. Here are some of the questions:
---Should one advertise in the local paper, luxury real estate magazines, online, on social media, send postcards (how many and how big), or produce videos?
---Should one buy a drone, a video camera, an expensive camera or leave it to the professionals?
--What about SEO or SEM (search engine marketing) or the long tail?
We are not being evasive, when we say no one size fits all. It depends on the marketplace, the lifestyle, and what the target market responds to. In other words, muumuu marketing can be a colossal waste of your marketing dollars.
The best ad agencies spend time on the ground researching the marketplace. They address both the demographics and the psychographics of the target market. These agencies understand that what works in Boston may not work in South Bend, Indiana, even if the demographics are the same in each locale. The psychographics, i.e., mindset and values, may be vastly different.
Here in Santa Barbara, where we have well over a dozen billionaires and a healthy population of ultra high net worth consumers, there are no Rolls Royce, Bentley, Maserati, or Ferrari dealerships. Why? These automotive companies apparently did their market research. Some Santa Barbara homeowners may own them and drive them here, but they purchased them elsewhere. Conversely, the new Tesla dealership is taking orders like hotcakes for their newest model, and we see many of their luxury sedans on the road that were purchased in Santa Barbara.
Beware of muumuu marketers! Or, you will find yourself trolling the beach with a metal detector looking for spare change instead of raking in the big bucks!
**(Muumuu is defined as a long loose-hanging dress worn by Hawaiian women and those wanting to hide a multitude of sins. Origin of the word "muumuu" is expand.)
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.