Building brands

Whilst developing brand communications within the property development sector, in particular whilst working with the estate management team at the landmark development London Bridge Quarter (The Shard), during its development phase and subsequent successful occupancy phase, we have gained valuable insight.

To coin the phrase made popular by the Channel 4 program by the same name, it’s all about location, location, location. Well in regards to developing brands for property development and real estate, that’s not far off the mark, but I would say it’s more like positioning, positioning, positioning.

The Three Ps:

Positioning 1 = Identifying the opportunities

Positioning 2 = Realising the potential

Positioning 3 = Optimising the equity through engagement

P1: Even as early as considering a potential purchase or investment, it is hugely beneficial to identify the potential of your opportunity, not just financially but also within the context of its branding. Hereby conducting an analysis of its competition and audience, you are able to not just develop a brand that gives your investment an identity, but moreover it will identify the opportunities to physically shape its re-development, focussing upon the needs of its potential occupiers and wider stakeholders. Often, who you think are the potential stakeholders of your development or property is only a portion of who they actually are! Here we can already begin to establish its potential equity.

P2: From the identification of your development’s potential, establishing its stakeholders and, importantly their real needs as opposed to the perceived, we can begin to shape the brand of your development. Often property brands are considered ‘two dimensionally,’ they focus upon an aesthetic representation of its name, place or architecture. Whilst these aspects are important they alone do not act as factors for building equity. Effective brand building for property development must consider every aspect of the brand’s architecture. From its ‘place’ within a place; from its heritage to its future; from its tenants to its neighbours; from its architecture to its multi-functions, the brand needs to operate three dimensionally to optimise both the experience of all stakeholders and in turn your investments.

P3: Ordinarily and quite naturally everyone is focused upon project delivery, the day all your new tenants can now move in! Job done hey? To some extent it is. But then a question on everyone’s lips “how do we ensure the longevity of our tenants and stakeholders?” This is done through ongoing effective stakeholder engagement. Here a well-developed brand comes into its’ own. It has attracted tenants and now begins its important job, keeping them! Don’t forget this brand is three-dimensional, it has harnessed many facets and functions of the development, and so it is able to articulate multiple messages to address the needs of its stakeholders with relevance and resonance. This does not just optimise the time of the estate management team, but continually engages the stakeholders, optimising the longevity of tenancy and crucially optimising the equity of your real estate.

If you would like to discuss your opportunities please feel free to contact me:

Chris Fogg, Founder

chris.fogg@foggassociates.com