When it comes to branding, most people instantly think of a logo, which is a testament to how powerful a unique brand can be. Maybe it’s the Nike swoosh, Facebook’s “f”, or the golden arches of McDonald’s, when people see these logos they automatically know what the brand is and what it stands for. Having said that, a brand is much more than just a logo.
A complete brand has three important elements: what, how, and feeling. What does service does your property provide, how is it provided, and what feelings or emotions does your property evoke? For property owners, these three elements act as a blueprint to creating the customer’s perception.
For multifamily properties, the what is straightforward: a place to live. In the eyes of a customer, a property’s how is the special and unique way it delivers its what. The how is where a property can create a competitive edge by providing unmatched service, which leads to the final, and arguably most important element of branding, feeling.
Only the most successful brands convey the feeling element of their product or service. In most cases, people will not give you their business if they feel like they will be treated just as a means to another rent check. If your property creates a laid back and inviting feeling with a friendly staff and fun community, that should be echoed through the branding. This will attract tenants with similar values and motives, ultimately improving the property’s environment.
Attached is a segment of a TED Talks seminar by optimist and best-selling author, Simon Sinek, who does an excellent job explaining how the most successfully branded companies use the aforementioned blueprint to their advantage.
Implementing this blueprint will create an effective brand that will prove to be one of the most powerful assets in differentiating a property from its competitors while setting the standard of excellence in the market.