AVENUE March 2014

Page 122

The Master of Marketing Luxury Lifestyles and Real Estate


Len Dugow, chief creative officer at LGD Communications, on high-end branding in specialized sectors What were the challenges you faced having to transition from distressed properties to remaining inventory, and now new construction developments? The last five years or so have seen the market fluctuating in terms of who the buyers are, where they’re coming from and what they’re after. The role of the marketer doesn’t change—we need to get the message to the buyers, wherever they are. The real challenge in marketing luxury real estate today, versus three to four years ago, is that back then, Miami’s oversupply of luxury condominiums made headlines all over the world and cash buyers were coming in droves looking for distressed properties to scoop up at pennies on the dollar. Our challenge at that point was in helping our clients resist falling into the price-cut trap, while steering them toward value messaging, combining both price and product. Luxury branding can make a value proposition. Luxury brands that stayed on message throughout the rebound have emerged into this new luxury era even stronger than they were before.