In real estate and resort development, as in many other industries, a successful outcome can be achieved only if a whole team of people know where you are heading. Defining your vision clearly gives everyone involved—from product development, construction and design to marketing and sales—an overall heads-up on what the expectations are.
So it only makes sense to assemble a representative group of people and work on your vision together. Here’s how.
Include anyone who is responsible for some aspect of the product being created—the development team, of course, but also the architect, the urban planner, the landscapers, the interior designers, the sales lead, etc.
There are as many ways to do this as there are companies who can help you complete this work, but at my company, Braun/Allison, we believe a working vision statement should contain the following seven sections:
1. The Offering
A clear and concise description of your offering and what it will cost to buy. Try to include more than just the physical description of the product, and speak to the needs and wants it will satisfy. It could be that ego gratification is part of your offering, or a connection to nature, or etc..
2. Overall Positioning
How do you want your product or service to be thought about in comparison to the competition? Is it, for example, a location story or a sustainability story? You need to decide what you want to be known for. Just remember, you can’t be all things to all people.
3. Customer Definition
Who, exactly, is your customer? Beyond the demographics, what do these people like to do? What are their beliefs? What makes them tick?
4. Clear Guiding Principles
These are the non-tangible beliefs and ideals your organization agrees are important to the success of the project. Being known as the most affordable builder in the area, for example.
These are tangible, quantifiable things that only you can claim—the important things that you offer that your competitors don’t.
6. Sales and Marketing Foundation
Once you’ve determined the five points above, you can start laying the groundwork for your sales and marketing communication efforts. You should be able to determine the best communication tools, the kind of partners you’ll need and the timelines required to set your plan in motion.
7. Product Considerations
What have the previous six points made you realize about the product itself? For example, has a better understanding of your customer made you think in a new way about the interior spec of your residential tower? Write these changes and additions down.
Voila! Now you’ve completed your working vision. Make sure you turn to it each and every time you’re at a new stage in your project’s development to ensure your vision comes to life. It will be an incredibly useful reference guide for all the people involved in making your product a reality.
This is an adapted excerpt from David Allison’s real estate marketing guide, “Branding Buildings Better”.