Why Brand is an Important Investment
Brand is more than just a logo, messaging, and color scheme. Your brand is how people feel when they walk into your building. It is often the first experience someone has with your property and can ultimately be the driving force in their decision to buy or lease.
In fact, 30 percent of stock-market value of companies in the S&P 500 index is attributed to branding. This means maintaining and communicating a strong brand is critical to the success of you buying, selling, and leasing a property.
What makes a brand ‘strong’?
Strong brands are built with consistency. Seventy-two percent of consumers say reputation influences their buying decisions and 89 percent say reputation is a tiebreaker between equal products. This type of reputation can only be built through consistency.
Inconsistent information about your properties not only creates confusion for buyers and tenants but can also create a sense of distrust. Every piece of collateral about your property should be consistent and reflect the information buyers and tenants need to know to make the decision to work with you.
Brand consistency conveys the level of professionalism you want and need to ensure that every buyer and tenant has a good brand experience with your property.
Why does a property need a strong brand?
Your property’s brand is the first experience a buyer or tenant will have with your property. From the imagery to the words used in the listing, the property’s brand should reflect the values and align with the needs of the buyers and tenants it wants to attract.
The brand experience begins before someone even steps foot onto your property. They’re absorbing your information, look and feel, content, and more online. When they visit in person, they are evaluating the location, what the property has to offer, and how the space makes them feel. If they align with your brand, then and only then will they dig deeper into what your property offers.
This means the first online experience a person has with your brand could be the deciding factor about whether they consider buying or leasing your property.
How can you use a strong brand to close deals?
Whether your goal is to sell or lease, you need to get your properties in front of the right audiences. And for this, you’ll need a broker; a broker who understands the importance brand plays in your reputation.
When you hire a broker, you’re taking on their brand. They will represent you and your property as they promote your building to potential buyers and tenants. They know that this first touch brand experience is critical to their ability to build relationships and close deals.
Whether they are promoting your property through emails, developing flyers, or sharing the information on their website, everything that they do needs to be professional, consistent, and accurate. When you’re selecting your next broker, consider their brand as a piece of how they will represent you and your property.
If you want to learn more about how brand plays a role in property marketing, check us out at Buildout.com.