Marketing Luxury Real Estate: Entertainment Marketing—Lessons from Major Luxury Brands

The internet has ushered in a whole new way to reach prospective clients and develop a strong referral base of raving fans.  Entertainment marketing is no longer exclusive to major companies; it is now within your reach, too, as a luxury real estate marketing professional.  But, you can get some great marketing ideas by studying how the major luxury brands leverage new technology to create buzz.

German fashion label Hugo Boss has set a new standard for live streaming fashion shows for their event in China. Their Black Collection will be streamed in 3D!  This is a first which makes it buzz-worthy. They also gave away a limited number of signature 3D glasses (too late, all gone) and offered fans a chance to win a trip to China.

The internet has ushered in a whole new way to reach prospective clients and develop a strong referral base of raving fans.  Entertainment marketing is no longer exclusive to major companies; it is now within your reach, too, as a luxury real estate marketing professional.  But, you can get some great marketing ideas by studying how the major luxury brands leverage new technology to create buzz.

German fashion label Hugo Boss has set a new standard for live streaming fashion shows for their event in China. Their Black Collection will be streamed in 3D!  This is a first which makes it buzz-worthy. They also gave away a limited number of signature 3D glasses (too late, all gone) and offered fans a chance to win a trip to the show in China.

For the event, Hugo Boss has launched a comprehensive multimedia campaign that includes print, Web, mobile, social media, and out of home advertising (outdoor advertising venues) for its runway show in Beijing. Their print ads will be embedded with “augmented reality”.  This is a technique that employs invisible watermarks that can be read by your smartphone which then has access to video and other added content. 

In October of 2007, Fendi and Karl Lagerfeld staged a fashion show atop the Great Wall of China.  It took Fendi one year to get permission for the show, and rumor has it that the show cost $10 million.  Five hundred guests attended the spectacle and giant logos were projected onto neighboring mountains.  The chairman of LVMH, Bernard Arnault, which owns Fendi joked, “This was the first fashion show visible from the moon.”

Paying attention to the ways that major luxury brands employ entertainment marketing can give you clues on how to outsmart your competition when marketing luxury real estate.  Leveraging the viral marketing capabilities of the internet and word-of-mouth advertising can significantly amplify the effectiveness of your marketing efforts and even reduce costs.

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Marketing Luxury Real Estate: Impressions of Costa Rica

We were fortunate to be invited to consult on the local and international marketing of a beautiful luxury residential development project on the east side of San Jose, in the Central Valley of Costa Rica.  From the Central Valley it is an hour to an hour and a half drive to either the Caribbean/ Atlantic coast or the Pacific coast.  The mild climate is consistently in the low 80’s with relatively low humidity.

Our experience in meeting our clients and the various people we were introduced to was nothing less than enchanting.  When discussing the various aspects of the project, each individual in charge was passionate about their expertise.  In planning the site, the developers agreed to keep all the mature trees and bushes intact and incorporate them as part of the common areas. This included the coffee trees which had migrated on the property from the coffee bean plantation next door.  The landscape architect also decided to identify the trees and plants by both their Spanish and Latin names.  There are walkways designed to explore the grounds and benches to sit on where you can reflect upon the magnificent flora.

Our strongest impression on this adventure was the friendly nature of the people we met.  Everywhere we went, kindness and acceptance was abundant.  Time was not a pressing issue in the many meetings we attended.  There was no sense of urgency or the feeling of being rushed.  What was more important was feeling good about each other.  

We asked our new friends, colleagues and clients, “What makes Americans and Europeans move to Costa Rica?”  Here is what they said, essentially: “We have a strong sense of family, a deep caring for each other, and a slow paced lifestyle.  Our people are well educated with a 94% literacy rate. We are also pro-business as we attract many companies who want to move here.  These companies are aware of the value of an educated work force”.  

Intel was offered as an example.  They had identified 10 cities where they could open offices in the South and Central America’s.  With everyone wooing them, Costa Rica was not even on their radar.  The people rallied, as did the President and all other luminaries, to convince Intel to choose Costa Rica, which they finally did.  Now, Intel continues to grow and expand there.

Advising our Costa Rican clients on marketing luxury real estate was a sheer delight and we have made some wonderful friends in the process.  We encourage you to reach out and connect with your counterparts in this fine country.

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Luxury Real Estate Branding: Identify, Define, Then Dominate Your Market Niche

Photo Courtesy of Apple

Most luxury real estate marketing professionals think of branding as a creating a new look for their product or service. But, the realm of branding actually occurs in the minds of your target market.  And, it occurs in product or service categories.  Whoever comes up “top-of-mind” in a category becomes the market leader. 

For every product or service category that is meaningful to us, we have a category. Often there are many sub-categories in our mind. For example, personal computers have a sub-category for desktops, laptops and tablets.  Some sub-categories even have their own sub-sub-categories.  

For example, when Apple introduced that Mac Air, a very slim and light-weight laptop that runs on a Flash drive (not a hard drive) a new sub-sub-category was born. As Intel and many other companies jumped on the band-wagon to copy the success of the Mac Air,  the category was given a name: “Ultrabooks”.

 It can also be said that ultrabooks are a niche within the product category of computers.  A niche is a specialized but profitable corner of the market Identifying and dominating an uncontested or under served market niche is the fastest route to market leadership in that niche.  The operative word in the definition of niche is ‘profitable’.  A niche would simply not exist if there was not a market for it that was profitable. 

The iPad actually redefined the category of tablet computing, as there were several attempts at creating this new category prior to its launch.  Apple has so outdistanced any of its competitors in both quality and quantity of units sold that it is next to impossible for any other company to catch up.   

Only Amazon’s Kindle Fire which uses Android as its operating system, has been successful at making a dent.  But, the Kindle Fire can only complete on price (not on features and not on the the number of available apps).  Because, Amazon sells their tablet at cost or below they have made it very difficult for other Android based competitors to enter this category.  And, other tablets using alternative operating systems, such as Windows 8, will have a very tough time entering the market. 

We offer this discussion of market categories to get you thinking about potential uncontested or under-served market niches, as luxury real estate marketing professionals.  Here is why:  What is the first brand to come to mind when you think of the category of tablet computer?  For most people tablet and iPad are synonymous.  What would it mean to you if your name was synonymous with the profitable niche that you decided to dominate?

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Marketing Luxury Real Estate: Fine-tuning Your Appreciation of Landscaping-Part 2

One of the many skills involved with successfully marketing luxury real estate is having an appreciation for fine landscaping.  For example, do you know your tropical flowering plants?  Each time you spot a plant or a tree that you have not seen or have not focused upon before, you have the opportunity to learn something new. This quest for a greater depth of knowledge about landscaping  can enrich your life and also  demonstrate your marketing savvy when you are showing a potential buyer a property.

If tropical plants thrive in your marketplace, it would be time well spent to take an occasional trip to your local nursery and learn about these magnificent species. The more common ground you have with your clients the faster you can establish rapport and trust.  The speed of trust can translate into more transactions and significantly increase your earning power.

 Can you identify this plant?  Don't go bananas!  It's a Plantain.

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Marketing Luxury Real Estate: Fine-tuning Your Appreciation of Landscaping

One of the many skills involved with successfully marketing luxury real estate is having an appreciation for fine landscaping.  When we lived in Los Angeles we looked forward to seeing the coral trees bloom each year.  They were planted along the center divide of a 4 mile long boulevard that lead to the ocean.  We spotted this one at the Santa Barbara Airport.  The sculpture of the branches of the tree depicted above, silhouetted against the bright blue sky reminded us about these magnificent deciduous trees.

Marketing Luxury Real Estate: Message on the Bottle

As a luxury real estate marketing professional you can have a superior value proposition, but will you be able to capture the attention of your ideal client?  As the world becomes more democratized with technology, the competition for attention has become one of the biggest marketing challenges.  First, you have to capture the attention of your ideal clients, (so they can hear you loud and clear above the din of your competition), and then you have to hold on to it.

Here is a clear example from the world of wine.  According to 2009 figures, over 20 billion bottles of wine were produced globally.  Competition for attention is fierce.   We recently discovered two Spanish wines produced by La Granja (the farm) 360 from Spain.  Modestly priced at $3.99 and $4.99 a bottle, it is thriving in sales side by side with similarly priced California wines (California makes 90% of wines in the US).  What makes is different is its message on the bottle.

Both wines have eye catching labels.  The first bottle pictured above is a 50/50 blend of Tempranillo and Garnacha grapes.  Wine connoisseurs describe it as, “An everyday drinking soft rounded juicy red wine, with rich ripe raspberry flavors, and great match for barbecue, roasted pork chops, spare ribs, sausages, grilled vegetables and cheeses.”  The ordinary zebra has made itself extraordinary by painting his back end in red!

The second is a Syrah with a 100% juice Syrah grapes, planted for the first time in this region.  Unlike its North American cousins, this wine is not jammy.  Here is the review, “It's ripe with blackberry-fresh-off-the-bramble flavor with hints of dried herbs and well-balanced tannins. And as the label of the rooster with the golden egg portends, this wine is provocatively irreverent... it keeps you pouring.”  The rooster is crowing about producing a golden egg!

Like wine there may be several comparable luxury real estate marketing professional in your market place.  This is where graphics and design come into play.  Graphics are a shortcut to get the message across of how you are different, and to be great it has to convey your message at a glance.

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Luxury Real Estate Marketing: Are you Ready to Bury the Sardine?

As a luxury real estate marketing professional it is important to be well versed in all the cultures that surround us and particularly those in your marketplace.  It is a great way to establish rapport with a potential client, and to become the go to person for that community.  In our previous post, we discussed several spring events; here is one from Murcia, Spain that is delightful, and would be well worth attending if you find yourself in Spain.

One of the autonomous regions of Spain is Murcia.  Murcia borders are the Mediterranean Sea, Andalucía and Valencia.  Unlike its neighboring regions Murcia is a one province region.  One of the notable festivals in Murcia is the “Entierro del la Sardina (Burial of the Sardine)”.  This festival is held after Easter. This traditional parade began in 1850.  A group of students decided to form a group whose leader is a sardine (symbolizing fasting and abstinence) in order to relive the Carnival Fiesta.

On the 14^th of April 2012, a grand parade of floats representing the various sardine (Sardinero) groups, will be accompanied by musicians of every variety including Samba bands, costumed Giant heads representing the gods of Olympus, and all participants will be throwing thousand of toys to the crowds.

The evening ends in the wee hours of the morning with the burning of the papier-mâché effigy of the Lenten sardine in Plano de San Francisco.

What a great way to celebrate the end of the Eater holiday.  Happy Easter Everyone!

Cheers, Ron & Alexandra

Luxury Real Estate Marketing: From Confetti to Rosemary

As a luxury real estate marketing professional it is important to be well versed in all the cultures that surround us and particularly those in your marketplace.  It is a great way to establish rapport with a potential client, and to become the go to person for that community.

The Spring Season is a time of celebration.  It signifies rebirth, new life, and the beginning of a New Year.   Here are a few of the rites of spring from around the world.

The Persian New Year is known as Nowruz.  It is celebrated by the Iranians, as well other parts of the world, Central Asia, Crimea and some groups in the Balkans It is based on the Zoroastrian religion, and it celebrates the day of or the day after the spring vernal equinox, depending on the region.

The Buddhists celebrate the New Year with Buddha’s birthday on April 8^th. In Thailand, Burma, Sri Lanka, Cambodia and Laos, the New Year is celebrated for three days from the first full moon day in April.

Easter is the Christian celebration of the resurrection of Christ.   Emperor Constantine decided the date would be celebrated on the first Sunday after the first full moon of the vernal equinox. This date may fall in a 35-day range from March 22 to April 25.

The Greek Orthodox Christians celebrate Easter after Passover.  The logic in their celebration is that Christ died after Passover, and this is a more accurate time to celebrate.  This year the Greek Orthodox Easter will be celebrated on April 15^th.

Passover is observed to commemorate the freeing of the Jewish people from slavery in Egypt.  A special meal, (Seder) is prepared accompanied by a reading of the Passover story.

In South and Central America, Catholics celebrate Easter and La Semana Santa, or Holy Week as one of the highest holy days of the year.  In Latin America and Spain, the week leading up to Easter involves solemn processions, prayer, masses and other preparations for Jesus' rebirth.  Cascarones or confetti eggs are made by hollowing out a chicken egg and filling it with confetti or small toys.  The outside of the shell is also decorated.  To have a cascarone broken on your head signifies good luck.

In the Sweden Walpugisnacht is celebrated.  The legend is it that witches filled the skies on the eve of St. Walpurgis Day on April 30 or May 1^st. Torches are made of rosemary and burned so that the smoke will repel the witches.  This festival is also celebrated by the Czechs, Dutch, Estonians, Finns, Germans, Latvians, Lithuanians, and Austrians.

Get acquainted with the people who are buying. As the planet seems to shrink and people from more nations are in the market for luxury real estate here in the United States, it is important to learn the different customs and unique slants on luxury. Being knowledgeable of the various cultures of our planet gives you an appreciation for all the people who make up our global melting pot. 

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Luxury Real Estate Marketing: Is Your Target Market on Social Media?

As a luxury real estate marketing professional, you know that your presence on different social media platforms can be a relevant venue to market you and your properties.  However, given that your time is at a premium, it is also important to understand the demographics of the individuals frequenting those sites to make sure your time is well spent.

A recent infographic study on social media by Online MBA uses the following criteria for demographics: education level, income, age, gender.  In addition, they include the number of registered users, geographical locations, time spent on sites, as well as user occupation.

Recently there have been several articles published about Pinterest as the new “hot” place to be in social media.  Here are some of the facts on Pinterest included in the study which may surprise you: 82% of the users are women.  The majority of these women are interested in crafts, gift ideas, hobbies, interior design and fashion.   The top geographical location is East South Central (Mississippi, Alabama, Kentucky, and Tennessee).  Is this your target demographic?

Another new social media with 90 million unique visitors is Google+.  Unlike Pinterest, Google+ is favored by men (71%), early adopters, engineers and developers.  Fifty percent of Google+ users are 24 or younger. Is this your target demographic?

If income is one of your criteria, it is interesting to note that out of Facebook’s 845 million users, 8% are in the $100,000 plus income category, whereas Twitter (127 million) has 15% in the same income category. Is this a high enough concentration of your target market to warrant the amount of time you spend on these sites to drum up business?

Is your time well spent? This is a good criteria to evaluate your participation on a given social media platform.  If you have not seen a significant ROI you may consider spending more of your business marketing time socializing or networking in person.

To read more about this study, here in the link to OnlineMBA. 

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Luxury Real Estate Marketing: The Art of Storytelling

Engaging buyers who are interested in purchasing properties in the upper tier of the market is really about showing them how they can live out their dreams in a given home in a particular marketplace.  That is why some of the most successful luxury real estate marketing professionals are those who have learned the art of storytelling.  They know how to romanticize their marketplace.

Human beings have been telling stories even before recorded history. The paintings on the walls of the Lascaux Caves in southwest France, as depicted above, are estimated to be over 17,300 years old. These cave dwellers were telling stories mainly about animals which were obviously a central part of their lives.

Storytelling comes naturally to some. For others, it is a skill that can be developed over time.  As authors of the Language of Luxury we strive to continuously sharpen our storytelling skills as we build our audience.  We also understand that every great brand tells a great story that is compelling to its customers or clients.  And, we help our clients to develop their own distinct brand story.

Recently, we heard a presentation by one of the Academy Award winning storytellers at Pixar, Andrew Stanton, who wrote Toy Story, WALL-E and John Carter, which was just released by Disney.   We wanted to share some of his points with you in this article:

1. Keep your promise that your story will lead somewhere that is worth the investment of time by your audience.
2. Your audience wants to work for its “meal”.  We are all born problem solvers.  We enjoy using our deductive or inductive logic.  We like to think.  Do not give all the answers.  Let your audience solve the problems.
3. A strong theme always runs through a well-told story.  Get clear about what your theme is.
4. A great story is uplifting in some way. 
5. Does your story evoke wonder?  Does it confirm that life is worth living?

What are some ways that you can become a better storyteller as a luxury real estate marketing professional?  One way you might consider becoming a great storyteller is by practicing the art of storytelling in each of your blog posts.  How can you romanticize your marketplace in each of your posts?

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Luxetera,etc.: Santa Barbara is Springing Up with Promises of Summer

Besides flowers at the Santa Barbara Farmers' Market this morning, we had the Healing Grounds Nursery visions of summer.  Healing Grounds nursery is a certified organic nursery and was started in 2004 by Oscar Harmona.

Healing Grounds Horticultural Therapy is part of the Transitions Mental Health Program serving clients through the Santa Barbara County Mental Health Services.  Healing Grounds Nursery was developed as a way to provide work training and income to adult clients with mental illness.

There were racks of tomato varieties to start planting in our gardens, as well as herbs and zucchinis.  We were tempted, however, we did not need another to do this weekend. Perhaps, we will buy some for next weekend's projects.

Happy Saturday, Cheers, Ron & Alexandra