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Re-Defining Relationships in the Property Industry
Posted by
Shekha Wilson at 10:00

Success in the highly competitive property industry is all about achieving the right balance. You can only offer tenants what you have available in your portfolio, and you constantly have to balance your tenants' needs with those of your investors. This isn't an easy task, but Redefine Properties, a JSE-listed property loan stock company, is shaking things up - and redefining the nature of key business relationships in the process.

The company contracted Yellowwood to create a brand positioning and marketing strategy that would support their revised strategic direction as a company.

"We typically start any strategic project with a critical discovery and insights phase," explains Shekha Wilson of Yellowwood. "And through that we learnt that the word 'landlord' is often met with mistrust. You don't usually hear from your landlord unless there is a problem. You haven't paid your rent.You've broken one of their rules..etc."

This adversarial relationship between landlord and tenant needed to change, or at least be addressed, for Redefine to realise their goals.  The point of departure was to ask: "Why can't your landlord be seen as your business partner, a source of support and an enabler to your business?"

Working closely with the Redefine management team, who proved to be an innovative and entrepreneurial group, Yellowwood developed a brand positioning that sought to redefine stakeholder relationships in the property industry. The marketing strategy provided the team with tools, guidance and ideas on how to change perceptions and deepen common understanding amongst the company's various stakeholders.

One of the initiatives emerging from this marketing strategy is the "We're not landlords. We're people" advertising campaign. A series of radio and TV adverts were created that convey this single-minded message, while Redefine's recent sponsorship of the MTN Golden Lions also shows the 'human' face of the brand.

While the need for balance between the interests of the different stakeholders remains fundamental to success, Redefine Properties really are redefining relationshipsin the industry - where your landlord has a face, a name and even a personality. Where he or she truly can become a trusted partner vested in your success - and not just someone who comes knocking on your door for overdue rent!

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