Did you know that a staggering 81% of consumers need to trust a brand before they buy their products?
According to the 2019 study from Edelman, the percentage of consumers that felt this way was similar across a variety of global markets, demographics, and income groups.
This just means that without branding, your project is doomed.
But before we go deeper into our discussion, let’s review what project branding actually is:
Brand
A brand is an idea or perception that a consumer has in mind when they think of your project in both the practical and emotional way. It’s also what separates your project from another. This signifies two things:
First, how your project makes consumers feel is just as important (or maybe even more) as to how they think of its physical quality. So not only does the exclusive collection of amenities matter but also whether buying your apartment truly symbolises their values.
This makes sense with research showing that 90% of our purchase decisions are being made subconsciously.
We buy with our heart, then justify with the mind.
Second, your brand is what makes you and your project unique. Whilst there are over 4,000 property developers across Australia today, there’s only one Blackburne, Meriton, and Deicorp.
Branding
Branding is everything you do to shape this image in your buyers’ minds, from the logo, font style to pricing strategy and customer service. It’s your bible that guides everyone in your team on what your brand is and not and how to clearly and consistently convey this so consumers can recognise your brand and see the solution it provides to their pain over competitors immediately. The goal of branding is to make sure your project is aligned with this image or promise so you can attract and retain your target buyers.
In the simplest terms: a project is what you sell, a brand is the perceived image of your project, and branding is the strategy to create that image.
Here are our top four tips to help you get started on the right path in your branding journey:
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