Episode 4: The Drill vs. The Hole: Real Estate Edition

Summary

The Drill vs. the Hole is one of the best brand theories you may have used, but you’ve probably never heard of.

Years ago a Prof of mine introduced me to a phrase that would change my life.  “Marketers sell the drill, consumers buy the hole,” a paraphrase from legendary Harvard Business School marketing professor Theodore Levitt.  Simple words that should be so obvious, except it’s not.  

Essentially it means:

The DRILL: What product / service are you selling?

The HOLE:  What does it empower your audience to do?

Now take it a step further. What is the end experience that ultimately happens because your consumers were able to buy that thing they needed?  Figure that out and you are not only selling more than “stuff”, but you are inspiring your audience to sell it for you. That’s the power of this one old statement. See why I love it so much?

I invited Jamie Harnish, a residential real estate agent dedicated to help guide his clients and help them navigate the ever-challenging Toronto real estate market. Using his 9 years of prior teaching experience in the maths and sciences, Jamie uses a logical, research-driven approach to help first-time buyers and first-time sellers make smart, educated real estate decisions.

Episode Transcript

References