The Power of Propinquity in Property - Simon Leadbetter. Edition 6
We all have a little psychological quirk that is important to estate agents. I talk about this cognitive bias a lot in my courses.
Propinquity (aka proximity, kinship, affiliation) refers to the physical or psychological proximity between people, which can lead to interpersonal attraction or the formation of relationships. Propinquity is why you love your kids. Well, most of the time.
In my world of marketing, propinquity is applied to increase interactions between prospective customers and brands, thereby enhancing the likelihood of forming a customer-brand relationship.
TL;DR - more marketing means more revenue.
The concept of propinquity in marketing, also known as propinquity marketing, is based on the idea that the more a prospective buyer "bumps into" a brand through various interactions (or "bumps"), the more likely they are to move through the "Propinquity Pathway" from awareness to buying.
This pathway suggests that a prospective buyer can only advance to the next stage if they learn something new about the brand at each interaction, making it crucial for marketing efforts to provide unique and relevant information at each point of contact.
Marketing propinquity emphasises the importance of creating multiple opportunities for a brand to interact with potential customers physically and virtually. This can include advertising, social media posts, news articles, and direct interactions at events or through customer service.
By strategically placing helpful content at crucial points where prospective customers are likely to interact with the brand, companies can foster a preference for their products or services.
In essence, propinquity in marketing leverages the natural human tendency to form relationships with those we are frequently in contact with, applying it to the relationship between consumers and brands.
The goal is to increase the brand's presence in the consumer's life, making it more likely that when the consumer is ready to make a purchase, they will choose the brand they have had the most positive and informative interactions with.
In short - more marketing means more revenue.
Thanks to "The Science of Propinquity (and Why it Will Help You Sell More)" by Tom Martin.
Simon has worked with industry giants like Fidelity, Emap, Prudential, AXA, Autotrader, Barclaycard, Abbey National, Daily Telegraph, and Northcliffe Media. In addition to his corporate roles, he has ventured into entrepreneurial projects, founding startups such as AffinityIQ, Untopia, and Blue & Green Tomorrow, a leading UK-based online magazine focused on sustainable investment. Simon has held significant leadership positions in property, including Group Marketing Director for Countrywide Plc, Global Head of Marketing, and Partner for Knight Frank LLP. He has also been the interim CMO of Keller Williams UK and the Global CEO of Fine & Country. Simon now helms We Are Unchained, a specialist marketing consultancy that delivers data-informed strategies to its clientele.
