And certainly, themost established brands are household names, with memorable,appealing attributes that compel many consumers to choose themover competing products.But what does branding mean to a real estate firm or home builder—or a homebuyer?
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PivotalCRM - Analyst report – building brand
1. Building Brand: The Importance of
A R T I C L E
Presenting a Unified Face
It’s conventional wisdom that branding is important. The top
brands are hard to avoid—their logos, event sponsorships, and
advertising seem to be everywhere you look. And certainly, the
most established brands are household names, with memorable,
appealing attributes that compel many consumers to choose them
over competing products.
But what does branding mean to a real estate firm or home builder—or a homebuyer? Might
homebuyers defer to brand preferences when choosing homes, just like they do when choosing
beverages and clothing? And even more importantly, can home builders and other real estate
businesses develop strong brands without the seven-figure advertising budgets of the big
consumer-goods companies?
The answer lies in a return to the fundamentals of branding. A brand, it is important to remember,
is not simply a name, a jingle, or a logo that the public associates with a company. A brand is the
totality of a customer’s impressions of a firm—an aggregate of every experience, interaction, and
association the consumer has with the company. Likewise, brand strength is not a function of flashy
big-budget advertising. A great slogan or slick marketing campaign might draw prospects to a
company, but if the customer’s experience with the company fails to match the brand expectations
created by the advertising, the customer’s trust will be lost and the brand will instantly lose
credibility. A brand is not just the promise that is made to customer, it’s their entire experience.
This means that every interaction a homebuyer has with your company has the potential to either
add to or detract from the value of your brand. This fact reinforces the critical importance of
carefully orchestrating the entire customer experience from end to end. Home builders simply
cannot afford to leave this to chance—merely hoping that a customer will walk away from their
homebuying experience with the right impression of your firm is not enough.
Buying a house is more than a purchase; it’s a major life event. This is all the more reason to take
care to ensure that every step of the homebuying experience is one that customers enjoy and
remember positively. Purchasing a home is a significant commitment that requires trust in the
home builder and the quality of its products. A strong brand, reaffirmed by a satisfying customer
experience, can go a long way toward establishing the confidence homebuyers need to feel to
make a purchase—or to refer their friends.
This is where customer relationship management (CRM) systems can make a big difference to
strategic-thinking home builders and other real estate businesses. As a centralized repository of
all customer information and interaction history, a CRM system can form the engine that drives a
strategically planned customer experience, which in turn fuels brand strength.
The primary goal of customer relationship management—whether we’re talking about the business
strategy or the software—is simple: to plan, coordinate, and support interactions with customers
to create a consistent, winning customer experience that stretches from the first encounter with
the potential buyer through the entire customer lifecycle. It’s what at Pivotal CRM we call “creating
customers for life.” Let’s look at how this can work, with a particular eye to branding.
Many builders associate branding with the marketing function: promotions, publicity, advertising.
And it’s true: marketing plays an extremely important role in communicating the “promise” that
underlies your brand. Many home builders do extensive advertising—through newspapers and
This article was previously published by the National Association of Home Builders as a business management resource.
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