Impact of wrong branding

Impact of wrong branding

CafeLand – A branded real estate project will make your business more convenient. However, it is not easy to build a sustainable brand. If doing wrong, the owner go to bankrupt. For this issue, Reporter CafeLand had a brief exchange with Mr. Nguyen Thanh Tan, Brand Consultant, Director of BrainMark Consulting.

Sir, branding is the leading issue for businesses operating in any field. What is the meaning of real estate, owner brand and brand?

Generally, for the real estate business the branding of the project is usually conducted by the sales and marketing department of the company. Presently, more and more professional businesses are joining in the trend of hiring a company that specializes in brand development. Specifically, it starts at the design stage of the project.

For example, the apartment of that segment has an area of 70 m2 is a lot of home buyers prefer but the investor makes 90 m2 apartment so the department sales and marketing has many difficulties in selling this  type of arpartments because of the demand that does not fit.

To be successful, the branding personnels of the project must be involved from the beginning, before the design stage with the aim of providing specific requirements and construction of project positioning, pricing strategies, and so on. Waiting until an apartment completely built then communited to public is a mistake, the branding department is very difficult to communicate, and sales staff can not sell.

Mr. Nguyen Thanh Tan, Brand Consultant, Director of BrainMark Consulting

As new projects appear on the market and no brand, buyers are completely unknown to the owner and product, Will the brand building be much more difficult?

It’s correct. For newcomers appearring on the market, they do not inherit the value of experience or reputation of the brand before so this is less favorable. To succeed, they have to follow the right process.

Another important thing in branding a new project is to have a reason to trust the project where the customer is. This can be done based on the reputation of the project partners and contractors such as contractors, designers, distributors or managers who have a reputation in the market.

Some people said that to build a brand quickly, constant advertising is the best solution. Do you think this is really effective?

I do not appreciate doing that. This is the way to waste money. Abundantly spending, but what is important message of speding?  (advertising).  is that attractive?

Currently, some businesses are mistakenly investing heavily in advertising budgets, with little investment in content. They think that many ads are good but forget the investment in content. That is why a good advertising will greatly impressed with a few times of play rather than a bad advertising played hundreds of times but not effective.

Branding a sustainable project is to create consumer confidence in the product in customer’s heart, the real estate product must deliver value over time to the buyer. All of this must be based on the quality of the project and the mind of the owner

What about the use of celebrities to make the brand, sir?

This is a good way. Celebrities are people who have a great influence on the public and have a positive impact on their target customers.

On the market there are many businesses choose to do this such as the Novaland Group with models – MC Binh Minh and diva My Linh, Gia Hoa Housing Company is to give apartments to Anh Vien athlete, Hung Thinh Company invited Mr. Le Thanh An – Former Consulate General of the United States in Ho Chi Minh City as an international relations consultant for the company, Or before that,  MC Nguyen Cao Ky Duyen also become the brand ambassador of this company, …

However, it is important to choose the person company needs. Since if the  personal brand of celebrities is affected, your company brand will also be affected

Branded projects will be well received by the market

So in the case of a risky event, what should investors do to deal with the crisis and protect the brand?

Risk is unpredictable so the most important thing that it needs is to have a necessary back-up plan.

As for brand ambassadors, we shoul choose thoroughly. On the other hand, if you have money, do not choose one. This means that you can choose a singer, an architect or an athlete, as long as it matches the brand positioning of the project. If one of these people gets in trouble, it will not affect the brand.

In case of brand crisis, it is necessary to set up crisis management board, actively publish information to clarify the story and be ready to take responsibility. Do not try to protect your brand image at all costs that leads to counter-productiveness. It is best to resolve the matter as quickly as possible without the need for a third party (court).

Recently, information about the singer Thu Minh bought a house in the project of Phuong Nam Company and the lawsuit occurred with the owner. From a brand perspective, what do you think?

I do not know who is wrong, but if the owner is clear from the start, everything may have been different. If you are a regular customer then the terms in that contract should be the same as other customers. If there are more special provisions, it should be in a separate agreement accompanied. The fact is that when knowing information about the fact many other customers, except Thu Minh will be sad and wonder.

At this time, network communication has great power of spread. In the aftermath of the crisis, it is very difficult to remove and resolve the consequences. The trust of the customer and the decision to buy a house in that project has some  bad influence.

Currently there are some opinions there are many wrong information outthere when buying a home because the brokerage companies often give false information about the product. What do you think about this and what advice for them?

This is a problem that has occurred in many projects and this has had a negative impact on the project’s brand. To avoid this situation, the investor as well as the trading floor, the sales team must be thoroughly uniform before launching products to ensure accurate and honest information to the customer.

On the side of the buyer, must be wise in terms of real estate business in Vietnam now many investors also sell goods through the trading floor. When buying a project, you can find out information through the sales staff of the brokerage. On the other hand, please check the information directly through the telephone number of the business department of the company for more information.

Sincerely thank you.