I have two friends that are real estate agents. My friend JT sells 2 houses a month on average and Maritza sells about 15. Big difference right? In my opinion they’re both hard working individuals that are equally talented. So why does one sell more than the other?
I’ll show you…
I recently started an online store selling physical products. I consider myself a person with a lot of experience and understanding of what works and what doesn’t. Not to say I have the secret sauce you can just sprinkle on your business to make it work, as first you will need a product that is in demand. However, I am saying that I have a good idea of how to test, how to fail early (do not think you won’t have drawbacks), and set up any team for the game winning shot. It’s a process. And this process includes: 1. A product people want 2. An easy way to buy that product and 3. A name people trust.
So out of these three, which is most important?
Back to my online store. In my first month of business I did not sell even one product. I used strategies that have worked for other companies I’ve helped, but they just weren’t working for me. First I thought price was an issue, so I lowered my prices. I made my products so cheap that I would lose money, but I made myself believe that this was not a loss but an investment. However, that didn’t work.
The products I was selling were hot products that many people were searching for. These were tried and true products I was very familiar with that I knew were in demand. So I had a product that was in demand, and I had an easy way to buy the products (as I set up ads on Facebook and Google shopping and made it fairly easy to checkout on my website) but people still weren’t buying.
Frustrated, I stopped paying for ads, because nothing was selling. Then one day I received an alert on my phone, it was the shopify app letting me know someone made a purchase. So excited, I rushed home, packaged the item and shipped it out within the hour. Then I get another alert, and another… I made three sells that day. I wasn’t running any advertisements and I wasn’t promoting the brand anywhere on social media. So where were these sells coming from?
To my surprise, the sells came from Google organic search. I started ranking for a few keywords on the first and second pages in Google. That’s when I realized I had built authority. That same week I was contacted by a very popular magazine in my space, asking to feature my brand in their magazine. I’ve always loved SEO, but I didn’t realize how much authority I had built just by appearing on the first and second page of Google.
As a marketer I know your brand is everything. For example, if two people are selling the same exact thing, how do you choose who to buy from? You’re definitely going to buy from the one you trust the most.
Google search definitely isn’t the only way to build trust, but that’s what made me realize I needed to focus more on building up my brand name. This took my focus away from making sells. My new objective became my name. Building brand authority and recognition. I know longer had to make my products bottom of the barrel cheap. If people trusted my brand they would want to buy from me regardless. And when you establish loyalty, they won’t want to buy from anyone else but you.
Back to my friends in real estate. I found that my friend that sold 15 houses a month had a much stronger brand than my friend that sold 2 houses a month. JT was happy with only selling two homes a month, but Maritza wanted more, so she spent time building relationships with the community, brokers, and local influencers. So anytime home ownership became a topic, Maritza’s name would come up. One month Maritza sold 33 houses, after asking how she did she said most of the sales came from just signing paperwork, in other words she didn’t even have to show (or sell) the house. Her name brought her business.
So what’s the single most important every business needs to succeed? A good name. If your brand is strong people will always buy from you.