Case study: Realtors
Brief
The National Association of Realtors (NAR) asked Intangible Business to evaluate the strength and value of the Realtor brand in the US and to identify opportunities for growth and realization of value. Intangible Business was asked to determine the annual financial value derived from the use of the Realtor brand to the individual member in terms of annual financial benefits and the average lifetime value of the brand to the average Realtor and the total value of the collective brand to all members.
Approach
Customer insight: the strength of the Realtor brand was researched from consumers and trade interviews, relative to other professional bodies.
Understanding the member: the membership base was researched to more fully understand their characteristics, behavor and needs.
Brand premium: benchmark analysis of comparable membership organizations was carried out and licensing arrangements and market transactions evaluated.
Valuation: the Realtor brand was valued as well as how much the brand was worth to its members on an annual basis.
Results
Intangible Business recommended a number of strategies to maximize the Realtor brand opportunity such as: brand communications at national, state and local levels to members, trade and consumer bodies; a more consistent use of the brand and an enhanced training program for Realtors. The brand valuation results were also used as part of a communication plan.
