Is Now the Time to Evaluate a Real Estate Rebranding Strategy?
The economic and social impact of COVID-19 has been widespread and immediate. It has forced unprecedented economic stimulus, quarantine and social distancing measures, creating significant unrest across financial and housing markets.
With a favorable stimulus bill regarding tax incentives for property owners, and a renewed focus on sustainable policies and affordable housing due to the monetary impact of the pandemic, real estate as an industry has a unique opportunity to recalibrate, redefine, and reinvigorate their brands to solidify an position themselves for success in the post-pandemic era.
As marketing professionals who have worked with numerous real estate investment firms, we see this uniquely difficult situation not so much as a problem to wait-out, but as an opportunity to be proactive. This article is going to touch on the most important aspects of a timely rebrand within the real estate industry, in addition to discussing the attributes potential audiences are looking for in the post-COVID era, with an emphasis on sustainable policies, community support, and affordable housing as key drivers to future real estate economic and optics-related impact.
The global pandemic has shown that we need to take back control of fragile systems, and real estate is so important to our way of life that the firms who stand on the forefront and use this time to evolve their identity, can become long-term winners. We’ll show you how….
Executing a Timely Real Estate Rebrand
First things first: Timing. With everyone in safe mode, heads down and concentrating on survival, the real estate companies who demonstrate leadership and conviction will be perceived as highly composed and ahead of the curve in a time of extreme uncertainty. When normalcy sets in and business-as-usual returns, seeing a company come out of a such a volatile environment rebranded and refreshed is an extremely powerful message to send.
With this being is a time-sensitive matter, in addition to the understanding that the creative process will take the lion’s share of time, having a systematic, goal-driven rebrand rollout plan is paramount.
Branding Process & Rollout
- Project Overview
- Set Strategic Objectives
- Conduct Market & Competition Research
- Internal Interviews & Brainstorming
- Synthesize Insights
- Creative Path Selection
- Implementation & Execution
Real Estate Brand Positioning in the New Normal
While demonstrating leadership by proactively showing initiative during an uncertain time is critical for client assurance, good timing will only reach full effectiveness with thoughtful and powerful positioning. In other words, seeing a company brave the new normal must match those optics with a strong vision.
In the pandemic era, real estate is seeing a surge in focus on critical issues, and we have identified three trends along with one value that are now in the forefront in the minds of real estate buyers, sellers and investors: Sustainability, Community, Affordability, and the concept of Trust.
Evolving Sustainability Messaging
Resiliency is a buzzword that has received a great deal of press over the past few months. Having a policy structure that relies on sustainable and resilient systems can be a huge confidence boost for current and potential clients.
But even so, a balance must be struck. Positive impact and sustainability in real estate as a concept has also come with accusations of greenwashing and lip service, without substantial effort to accomplish what has been stated. While acknowledgment of these responsibilities is a step in the right direction, the new normal will require real estate development and investment firms to demonstrate their policies with concrete examples.
Demonstrating Community Support
Along with listing, and actively demonstrating impact policies, it is important to show how these policies combined with corporate values cultivates community impact. The pandemic has uncovered local vulnerabilities and as people come to grips with the effect a global virus has on local business, they will be hyper-focused on supporting those ventures.
If you can showcase sustainability, while highlighting internal initiatives aimed at community support then you will have effectively structured a compelling 1-2 punch that will more than likely convert to goodwill and potential business.
Connecting & Differentiating Through Trust
After identifying key messaging areas, we can now touch on the connective thread that will make the socially driven rebrand: Trust.\
Trust contributes to whether a client will refer others or expand the relationship with additional assets. It is essential to set the tone with your clientele in terms of how you communicate with them, as well as to succinctly convey your investment style and process.
By connecting to and communicating with potential partners, tenants, or investors on what sets your firm apart and how you create value for them, you can set the stage for their expectations in how you behave through changing market cycles and unique scenarios such as COVID-19. The process of branding helps you develop confidence and trust with your existing clients and investors while engaging new potential clients.
Portraying clear and concise brand storytelling will effectively communicate, market and fully brand your firm’s unique focus.
Showcasing Your Real Estate-Related Rebrand
A community-driven brand that is proactive can make waves, but that impact must also be visualized effectively to reach full potential. In general, MBC Strategic believes that when communicating real estate investment concepts, the right visualization can dramatically improve a client’s understanding of long-term, complex topics.
The challenge is finding a clear, effective way to demonstrate that value. It can serve real estate industry brand managers and marketers well to think of their brands as a circle divided into four equal parts when developing a 360° brand identity:
- Visual Qualities — photography, typography, logo, color palette
- Verbal Qualities — company name, tone of voice and messaging
- Sensory Qualities — sounds, light, illumination, touch, texture
- Interactive Qualities — navigation icons, social content
It’s a New World, So Rebrand Effectively
Such fundamental shifts in how the world works essentially precludes the desire of sitting back and waiting things out. Just like the global system itself, the firms within have to adapt, and those who do so with speed and confidence will be at an immediate advantage.
MBC has been helping financial institutions and real estate firms grow for over twenty years. To better understand the importance of investment industry design and content for your financial institution or investment firm and learn how MBC Strategic can help, please contact us today.
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