Yes, a few weeks ago the COMPASS brand turned 6 years old. Originally named “Urban Compass”, the brand name, logo, and graphics were changed in early 2015 when we were merely around 300 family members in total.
The speed at which Compass’ brand name recognition has grown – especially amongst home buyers, sellers, landlords, developers and renters, specifically in more luxury markets around the nation – in the past 6 years is quite remarkable. The brand name recognition amongst those monitoring the financial markets has been further accelerated since our IPO a month ago. The TOP 5 luxury brands in the world are: Gucci, Chanel, Hermes, Christian Dior, and Louis Vuitton: all are at least 75 years old. According to Statista, there is only one brand amongst the world’s TOP 20 Most Valuable Worldwide Brands that is 10 years old…..the majority have been around much longer. Of the Top 25, only seven are not one-word name brands.
“Compass is a simpler, more universally memorable brand name that speaks directly to the connection between people and technology that is so central to what we are building,” Matt Spangler, February 2015 when discussing the shift from URBAN COMPASS to simply….COMPASS.
A powerful brand name is possibly your most competitive advantage: imagine Coca-Cola without its brand name…..it would be merely just another soft drink. A brand with a distinct personality drives value perception. A brand has to evoke a perception, a story. COMPASS’ brand speaks to modern luxury. It speaks to the next generation of luxury, regardless of age. It speaks to a mentality. Boldly broadcasting our best-looking properties promotes an identity and association that has tremendous value to ALL properties we market. The brand sets the tone. A brand has to speak its own unique language. The COMPASS brand speaks to simplicity, the new language of modern luxury that is more about authenticity and simplicity than gilded opulence or stodgy heritage. It speaks to contemporary, tech-fueled efficiencies and A-grade service.
When a newly built Condominium comes to market called for example “THE PRETTY CONDOMINIUM”, many locals may identify it after many weeks of advertising and marketing. But it would cost many millions of dollars to achieve the same recognition and quality association that you achieve if you were to brand-associate the building, eg: “THE FOUR SEASON’s Pretty Condominium”. That association INSTANTLY messages to the consumer years worth of advertising and personal experience no brand can ever hope to achieve without massive investments in money and time.
Imagine the value of the COMPASS brand when 20,000-plus in the COMPASS family are messaging that brand name multiple times per day, if not by the hour. Here are some examples:
* If every Compass agent sends out one social media post per day with the name COMPASS attached to it…..that’s over 7 million posts per year. If each social media post is exposed to on average 500 people, that’s 3.5 BILLION impressions.
* Imagine if every COMPASS family member sends 25 emails per day (I’m being kind!) with the COMPASS brand name attached….that’s close to 200 million impressions per year: that’s pessimistic knowing how much we email.
* Now add in T-shirts, print and digital advertising, billboards, mugs, video, public relations e, 6-million-plus website visits per month, yard signs, office signage, ticker-tape appearances, Robert’s book (coming out this week), etc…..you get the picture.
The COMPASS brand is now delivering MILLIONS of impressions ….daily. And Consistently. While all of this is very impressive, you may be asking the obvious question: “What’s in it for me?” As agents and teams, we are all our own individual brand and that is empowering and extremely valuable. Creating your own unique and differentiating identity is great. Attaching that identity to the COMPASS brand multiplies its effectiveness dramatically. It is a brand association/endorsement that speaks of invaluable marketing aspects – INSTANTLY – that is impossible to replicate.
BRAVO to our multiple teams of creative and marketing geniuses around the country who consistently and brilliantly build and nurture the COMPASS brand and maintain its high-quality standards every single day. THANK YOU!