What do Apple, Adidas and Gymbox have in common? Each is a CoolBrand, chosen by an expert council and 2,500 members of the British public. The BBC, British Airways and Coca-Cola? All Superbrands, chosen by marketing experts, business professionals and thousands of British consumers as the UK’s strongest brands.
Property doesn’t appear in either the Consumer Superbrands or Business Superbrands top 20. But could this sector feature more prominently? Stephen Cheliotis, chairman of the UK Consumer Superbrands, Business Superbrands and CoolBrands Councils, spoke at last week’s Estates Gazette Marketing Summit and offered insight into what it would take for it to do so. More importantly, he explained why it matters.
Property, currently, is not cool enough to figure in the CoolBrands rankings at all. But there are, in fact, 30 real estate businesses on the Superbrands long list, and two stand out. Savills leads in the real estate, commercial agents/advisers, category; and Westfield tops the real estate, general, list.
But there is plenty this sector could do to strengthen its brand presence. And doing so successfully would be good for business, Cheliotis believes.
“Why should we care?” he asked last week. “Well, brands help sell more and sell at a premium.”
In a brand sense, there is little difference in principle between fizzy drinks, baked beans and real estate. Cities covet Westfield’s stardust. Occupying a Derwent office sends a signal about an occupier. And in the emerging world of PRS, a branded offer is the holy grail.
And it matters for employee engagement too, said Cheliotis. “What does it do for churn? What does it do for productivity? What does it do for the enthusiasm of the people representing your brands? It doesn’t mean you need to be Coca-Cola, it just means you need a compelling brand. Don’t just think about brand as it relates to the end consumer – think about how it affects everyone who comes into contact with it.”
To deliver a successful brand, think about innovation. Think about authenticity. Think about originality, purpose and passion, said Cheliotis. Reputation, integrity, direction and energy matter too. Failure to address these headline considerations means you will lose ground to competitors and suffer in the war for talent.
“If you lose momentum, it’s very hard to regain,” he warned. “How do you keep energy in your business. How do you take people with you?”
And property should not just seek to emulate leading Business Superbrands. CoolBrands status is attainable, too. Not least because this hallowed ground is not just the preserve of start-ups.
Apple is the biggest company in the world and also the coolest brand. Mercedes-Benz is a 90-year-old company and also a high-ranking CoolBrand.
“Any brand can still think about those traits,” said Cheliotis. “How can we do something that is true to us? How can we do something that hasn’t been done before? How can we do something that is innovative and different? How can we do something that is going to create desirability and pull towards our brands?”
But even delivering on all those fronts is no guarantee of success. To turn it into client engagement, you need to deliver “headspace”, said Cheliotis. “How do you come to mind?” he asked.
Think about your “category cues”, said Cheliotis – what is going to prompt a customer or client to turn to you first? “How do you dominate them and become associated with them? What evokes your brand and what does your brand evoke?
“You need to own that headspace if you want to build a Superbrand.”
Cheliotis offered a final piece of advice for any property business looking to get its brand right: “Building a powerful brand is about having a clear understanding of yourselves. Knowing your purpose. Knowing where you are going. Knowing what your principles and values are. Knowing what you will and will not do. Having a persona that stands out and says something. Having a proposition that people want and understand and that is relevant. It’s about knowing your business.
“Beyond that, it’s about having a clear sense of internal pride among your staff.”
And that holds true for every business in this sector – Superbrands, CoolBrands and wannabe brands alike.
• To send feedback, email damian.wild@estatesgazette.com or tweet @DamianWild or @estatesgazette
