Developing a strategy is critical when building a brand, according to one REA Group executive, who shares the three components he believes all businesses need to succeed.
Speaking to Real Estate Business, realestate.com.au executive manager – marketing, Kul Singh, said building a strong brand takes time and planning.
“At REA Group, we have a dedicated brand and marketing team whose core function is to ensure the business is acquiring new audiences, retaining our current audience and upholding our brand’s reputation in the market,” Mr Singh said.
“When building a brand, it’s important to develop a brand strategy,” he said, adding that this comprises three key components.
First, a business must determine how it wants to be perceived. When setting up a brand in an established industry, Mr Singh said, it is important to identify your competitors and find a key point of difference between you and them.
“It’s easier to market your brand once you find what sets you apart from the crowd,” he said.
Second, the REA executive believes your external brand must be a reflection of your internal culture.
“Take the time to define what your internal culture is because your biggest brand advocates (and critics) are the people who work for you,” Mr Singh said. “That’s not just your employees, but also your customers, contractors, vendors or anyone who does business with you.”
Finally, developing a strong brand means making sure you get your tone of voice right.
According to Mr Singh, having a consistent tone of voice throughout all your marketing communications is an important way of showing the personality behind your brand, rather than just noting what your company does.
REA Group is the principal partner of the 2016 Real Estate Business Awards, which has introduced a new category of Digital Presence of the Year. Ten of the industry’s leading brands have been shortlisted for the title: Coronis, Cunninghams Property, Di Jones Real Estate, Fletchers Group, Watt Realty, Altitude Real Estate, Strathfield Partners, Acton Real Estate, Starr Partners and LJ Hooker.
The 2016 awards will be hosted as an evening event at The Star, Sydney on Thursday 16 June.
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