marketing
The Truth About Branding in Multifamily
Associative memory is a key in marketing and psychology. It’s the process where one memory becomes linked to another, allowing cues to prompt specific actions or emotions. When a multifamily brand successfully implants an associative memory, it ensures that potential renters, residents, and team members remember its message precisely when it counts. The truth: It’s Hard Work.
The Three Keys to Implanting Associative Memory
- Consistency: Repetition over time is key to forging an association between a new memory and an established one. Consistent messaging reinforces the recall cue, making it stick more effectively in the target audience’s minds. Most wanna-be brands fail at consistency. It takes a ton of time and discipline, and most lack the wherewithal.
- Frequency: Frequent exposure to a message deepens its impact. When people encounter a message often, the brain begins to link it with existing memories, forming a robust associative memory. This repetition builds “branding” through sheer reinforcement. It also takes discipline to stick to it over the long run.
- Anchoring: The recall cue must attach to something already firmly embedded in the mind. This established anchor could be a common experience, a known emotion, or a universal symbol. Without anchoring, the new message fails to tie itself to a recognizable thought or feeling.
Anchoring: The Foundation of Memory Association
Anchoring serves as the foundation. Any new message must connect with an anchor already present in the mind. For example, marketers might link a product to feelings of nostalgia or comfort by associating it with childhood memories of eating apple pie and ice cream. This emotional anchor makes the new memory more memorable and actionable. Consistency and frequency are tools that glue the new message to this anchor.
The Role of Recall Cues in Memory
A recall cue prompts an individual to remember or act upon a particular thought at a specific time. These cues can be visual, auditory, or textual. In advertising, they might be logos, slogans, or jingles that instantly remind the audience of a product or brand.
Note a recall cue’s effectiveness diminishes if it has too many associations. The fewer meanings a word or image can represent, the stronger its function as a recall cue. For example, a unique slogan that directly evokes a specific brand will be more memorable than a generic phrase. In marketing terms, it’s not about bombarding the audience with complex messages. Creating simple, direct associations that trigger immediate recall is more effective.
Building Associative Memory Through Branding
Branding only becomes effective when messages tie into an emotional anchor. When these anchors are carefully chosen and reinforced consistently and frequently, they form lasting associations in the audience’s mind. This approach helps develop a strong, recognizable brand identity that prompts action when triggered by recall cues.
Sources: Secret Formulas of the Wizard of Ads – Roy H. Williams
Scaling the Marketing Summit
Tiny steps on a mountain may seem insignificant, yet they lead to the summit. Similarly, in marketing, the overarching campaign gets you there.
In marketing, envisioning a campaign rather than discrete ads is akin to mountain climbing.
Just as a climber doesn’t focus on individual steps but on the summit, a marketer must see the bigger picture.
Each ad is like a foothold, a necessary step towards a higher goal.
The journey to the summit is methodical and strategic, requiring careful planning and a clear endpoint vision.
Like a well-executed campaign, a successful climb isn’t remembered for the singular steps but for the triumphant arrival at the peak.
This approach ensures each element works harmoniously towards the ultimate objective, much like how every move a climber makes is towards reaching the top.
Embracing this perspective transforms marketing from a series of disconnected efforts into a cohesive and compelling narrative, leading to the pinnacle of brand success.
#MarketingStrategy #CampaignVision #ClimbingAnalogy #StrategicMarketing #BrandSuccess
Unlocking Transformational Leadership in Multifamily: The Gap and the Gain Philosophy Inspired by Dan Sullivan
Photo by Alex Radelich on Unsplash
In life, as in business, the momentum behind achieving the next milestone often overshadows the accomplishments already achieved. This perpetual cycle is similar to the treadmill effect, where the sense of satisfaction and achievement remains elusive. What if, through intelligent leadership, you could break this cycle and lead with a sense of fulfillment? Enter the Gap and the Gain philosophy, inspired by thought leader Dan Sullivan, Founder of Strategic Coach.
Why Multifamily Real Estate Leaders Should Pay Attention to the Gap and the Gain
Within the multifamily context, we operate in an environment marked by constant flux—legislative changes, technological advancements (a lot as of late), and shifts in renter behavior. These factors bring both challenges and opportunities. Utilizing the Gap and the Gain philosophy, you can refine your decision-making process and achieve a broader perspective. Here’s how:
Measure Against The Past, Not An Idealized Future
The ‘Gap’ represents the chasm between where you are and an often unattainable, idealized future state. The ‘Gain’ is the measurable improvement from where you started. Instead of being perpetually dissatisfied by dwelling on the Gap, the Gain offers a shift in perspective. Imagine a multifamily complex with a high rate of occupancy but falling short of some modern amenity provisions. You could consider yourself unsuccessful or shift your perspective to acknowledge the gain from an initially lower occupancy rate.
Profound Impact on Strategy and Marketing
The Gap and the Gain philosophy can substantially impact strategy and marketing. Let’s consider PropTech, which is transforming real estate ecosystems. Most real estate leaders focus on the next big thing, thus dwelling in the Gap. Instead, one could concentrate on the Gains made through incremental innovations, providing a more immediate and motivating perspective for your team. It’s not as sexy, but it might have a similar impact. If you’ve recently integrated a RentTech solution to automate your rent collection process, celebrate the time and efficiency gains before stressing over the next tech update.
Human-centric Leadership
The essence of this philosophy harmonizes perfectly with the human-centric leadership approach. Recognizing the gains of your team not only propels productivity but also enriches work culture. The Gap and the Gain methodology add a crucial layer to performance metrics, making it more holistic.
Innovative Application Through Technology
In the era of Big Data and AI, technology can be leveraged to make this philosophy actionable. Advanced analytics can provide historical data to measure the Gain more objectively.
Marketing First
Photo by Campaign Creators on Unsplash
In content creation, getting caught up in the excitement of producing something new is easy. Whether it’s a blog post, a video, or a podcast, creating content can be a thrilling experience. However, it’s important to remember that simply creating great content isn’t enough. To truly succeed as a content creator, you need to have a marketing plan.
This is a point that Joe Pulizzi and Newt Barrett make in their book, “Get Content Get Customers.” They write, “Before you create any more ‘great content,’ figure out how you are going to market it first.”
This advice may seem counterintuitive at first. After all, isn’t the point of creating great content to attract an audience? Why worry about marketing before the content even exists?
The truth is marketing is an essential part of the content creation process. Without a plan in place for how you will promote your content, it will likely fall flat and go unnoticed.
So, what should you do before creating great content? Here are a few steps to get you started:
- Define your audience: Before you create any content, you need to know who you’re creating it for. Spend some time researching your target audience and figuring out what they’re interested in.
- Determine your goals: What do you want to achieve with your content? Are you trying to build brand awareness, generate leads, or drive sales? Your goals will impact your content type and how you market it.
- Develop a content strategy: Once you know your audience and goals, it’s time to develop a plan for your content. This should include what types of content you’ll create, how often you’ll create it, and how to promote it.
- Create a marketing plan: Finally, it’s time to figure out how you will promote your content. This might include social media marketing, email marketing, paid advertising, or influencer outreach. Whatever tactics you choose, ensure they align with your audience and goals.
Perception
Photo by Bradley Pisney on Unsplash
Perception is a powerful thing. It shapes the way we see the world and, in turn, shapes our reality. In a way, our perception is our reality. And when it comes to business, this is especially true.
As a business, it’s important to understand how your customers perceive your brand and products is their reality. If they positively perceive your brand, they will be more likely to do business with you and recommend you to others. On the other hand, if their perception is negative, they may choose to avoid your business altogether.
One way to ensure that your customers positively perceive your brand is by consistently providing high-quality products and excellent customer service. This will help build trust and loyalty with your customers, making them more likely to perceive your brand positively.
Another important aspect of perception is branding. How your brand is presented to the world can hugely impact its perception. A powerful and consistent brand message and visual identity can help to create a positive perception of your brand in the minds of your customers.
Paying attention to how your brand is perceived digitally is also important. With the rise of social media, customers have more access to information about your business than ever before. This means it’s important to have a solid online presence and be active on social media platforms where your customers are likely to engage with your brand.
In conclusion, perception is powerful, and it shapes how customers see your brand and products. As a business, it’s important to understand that how your customers perceive your brand is their reality. By providing high-quality products and excellent customer service, having a solid brand message and visual identity, and maintaining a robust online presence, you can help to ensure that your customers have a positive perception of your brand and, ultimately, a positive reality.
