It's What You Say -- and How You Say It -- that Can Provide a Competitive Advantage

There's a recent article in the Wall Street Journal by Stefanos Chen (you can read it online here) noting sales agents in Los Angeles seeking a competitive edge might want to brush up on their Armenian language skills.

Trulia reviewed agent profiles across the US and found many salespeople speak languages in addition to English -- and that certain metro areas are now becoming "global markets" in terms of diversity in both agents, buyers and sellers.

Reach out using co-op agents and tradigital tools!

How is your marketing program addressing this increased diversity?  What tools can be added to provide you with a competive advantage?

In an earlier Solutions blog, we discussed the value of  building a co-op agent team to assist in opening new markets with a focus on demographics unique to your community.  Jim Park, at a recent REALTORS Conference & Expo, reminded his audience that the Asian community is frequently missed when surveying the ethnic market.  He comments, "The last category usually is 'other.' Well, the 'other' community has a lot of people in it."  Asian-Americans have higher incomes, on average, and they prefer buying new homes!

Reaching-out via co-op agents is one strategy; another idea is adding tradigital marketing tools and GO Interactive! CPS' interactive touchscreen system, SalesTouch, offers the ability to display a multilingual presentation.  Put a button on the presentation's "main layer" and offer, if you're in Chicago:  English, Polish and Greek -- or, if you're selling in Southern California:  English, Armenian and Korean. 

An interactive presentation also provides a great way to drill down into the surrounding neighborhood so your buyers know that your location meets their needs.  Highlight schools, restaurants, shopping areas that appeal to your diverse clientele.  Let them know they're Close to Everything that is important in their home search. 

Co-op agent teams, tradigital: great ways to speak your buyer's language and gain that competitive edge!

Understanding your target audience: women as "relaters"

There's a current line of thinking suggesting that, regardless of the product (consumer electronics, cars, new homes), more and more women are now playing a primary role in the decision-making purchase process.

What does this emerging role have to do with your marketing approach and style?  If you've always marketed to what might be categorized as a "female audience," you might argue...not much.



Here's a relatable story: complete with best dish to try!

However, all sorts of other bits of marketing data are emerging, as well: women are the "most" connected audience (throw out your preconceived "geek" ideas!).  That fact alone might suggest modifying your marketing approach: more mobile, less print; more Facebook, fewer mailers.

In addition, a series of recent studies suggest women see information, products and even themselves in terms of how they relate to others.  Women, in other words, feel more comfortable responding to marketing messages that tell relevant stories.  And, the studies suggest the story's details matter as much as the outcome.

Gen Y and Housing..beyond Tech to Location!

Gen Y, Echo Boomer, Millennial...regardless of label, we're looking at z population demographic whose members were born between the late 70's and early 2000's.

Much has been written regarding their approach to just about everything: technology, shopping, relationships, family.

Of course, they're more tech-savvy (although many "connected consumers" aren't part of this demographic). A current term is "digital native" (as compared to digital immigrant, for example).

As a result, according to a J Turner Research Study, What Do Residents Want? Trends in Resident Technology and Communication Preferences (read it here), Gen Y members shop using smart phones, laptops and tablets.  And, they use these devices when searching for a home, as well.  In fact, it might be noted that the younger the prospect, the more likely they will use social media and the internet to search. 


What's nearby? Try highlighting the neighborhood!

We'd suggest "test driving" your marketing processes on some of these devices; how do you measure up?

What has also been found when analyzing housing "hot buttons" for this group is: Gen Y housing wants/needs aren't that different from previous generations.  Builder, in a 9/25/12 article, suggests "satisfying the needs of those prospects still seems to be an exercise driven by community location and service reputation."

Location trumps design and amenities and McDonald states "location, efficiency and adaptability" as critical decision points.

Builders, Co-op Agents: Reaching the Asian Community

We've all been reading about our ever-increasing diverse population; but, have you considered there's a diverse homebuyer demographic, as well?

Were you able to attend the recent REALTORS Conference & Expo? 

Jim Park, President of the Asian Real Estate Association of America, noted that, when hearing people talk about diversity, the Asian community is frequently missed.  He comments, "The last category usually is 'other.' Well, the 'other' community has a lot of people in it."

Reach out to your co-op agent team

17.3 million people in the US are of East and South Asian descent, according to the 2010 US Census.

And, according to Park, Asian-Americans are a great target market for home sales.  Household income is higher than other households and...they prefer buying new homes! Park notes, "Asian-Americans are more likely to live in non-Asian communities."

As a homebuilder, how does your marketing respond to this information? We'd like to suggest a couple of ways: use CRM to help manage your prospects and, more importantly, utilize your co-op agent team to reach out to this community.

Co-op agents often specialize in specific markets -- ranging from relocations to 55+ to Asian-Americans.  They consistently work with their target market and become known in their community as a reliable agent. 

Multifamily Preleasing: Interactive is a Great Tool!

Today's renter economy is strong enough -- in many areas-- that preleasing is gaining popularity as part of a multifamily property's revenue management strategy. 

In evaluating a prelease strategy, we'd like to suggest several ideas to consider after you've determined property specifics, audience, features, amenities and the like. We think they'll make your marketing process more effective as you reach out to your audience and enable them to better see your property's value (and values!).

(1) Use Interactive In Your Messaging -- Start Branding: Of course, you've considered your audience but..we're suggesting a bit more as you evaluate marketing messages to the audience.  Are you thinking, Gen X, Gen Y, Boomers ... does it really matter? 

Recent studies suggest that all 3 demographics have much in common (the "Connected Consumer" isn't limited to only Gen Y, for example).  And, your "most connected" consumers are women..regardless of age group.

 

While Gen Y has grown up in the digital age and are recognized as comfortable with technology, there are unique opportunities with interactive systems (large touchscreens and tablets) to connect with all audiences.

Today's consumer wants immediate information. Interactive touchscreens respond to their particular interest. 

Does your visitor want to see if their furniture fits into the your 2 bedroom unit  (which they can't visit)? CPS' interactive SalesTouch Move it/Move it feature allows consumers to select from a "sized" furniture palette and move furniture into the unit.

What about your building's amenities? The pool; the clubhouse; the fitness center -- all still to be built What will they look like?

Neighborhood? Will there be a local coffee shop? How about restaurants in the area?

Key to providing information is making it actionable: provide a way for your visitors to imagine visiting the coffee shop (how about an exterior image) or visiting a new restaurant (highlighting the "best" menu item) or riding the bike trail (how about the sunset along the river?). 

Pre-leasing works best when your audience -- boomers, Gen X, millennials -- can imagine living in your building, the selected unit and the neighborhood.  Interactive touch systems let your visitors start telling stories about how the property will meet their objectives! And, you're building your brand in the process.

(2) Energize Your "Green" Messaging: Study after study suggests Gen Y will spend if a product is shown to be cost effective and eco-friendly.  The latest consumer neuroscience studies suggest boomers appreciate marketing messages illustrating what value will be gained.  Highlighting green's cost-effectiveness is a powerful marketing message for all audiences.

And, while there are lots of "big ticket" green products, your message can highlight that it's the little things that count, too.

Do you have a "green" strategy?  Use your touchscreens and tablets to leverage that message.  Start your eco-friendly messaging at the pre-lease process --  highlighting unit features such as low-flow faucet/toilets, energy efficient appliances and low-e windows.

Build on it with the little things that are part of your pre-leasing process: CPS' SalesTouch offers e-brochures and prints brochures "on demand" and only the desired floorplans.

Add-on with features that come as a result of move-in: e-leases/renewals, streamlined recycling programs..maybe even a community garden.

Keep all of this information in front of your prospects as they're touching to discover your property's amenities and your brand.  Touch is powerful; neuroscience tells us touching a monitor generates completely different brain processes than using a mouse.  If you'd like information regarding CPS' interactive touchscreen system, SalesTouch, plrease visit our website, www.cpsusa.com.

55+: Ideas to Fine-Tune Your Marketing Messages

Many marketing studies (and our own Solutions blog!) spend quite a bit of time talking about the Gen X and Gen Y audience.

As they should: these demographic groups constitute a significant buying segment in today's economy -- whether you're selling big ticket items such as homes and cars or day-to-day products including cable, groceries and cell phone plans.

Interactive touchscreens, CRM: nuanced messaging!

Nevertheless, the Baby Boomer generation is still a noteworthy demographic in terms of purchasing power; fresh insights, based upon Nielsen NeuroFocus consumer neuroscience research, suggest revisiting preconceptions and marketing approaches for this demographic.

In essence, mature minds respond differently to messages, input and information.  Differently doesn't mean less or slower or diminished.

No one wants to be considered "old" or be treated as such -- particularly this generation.  60 is the new 50, right?  Stereotyping doesn't work.

But, did you know that mature brains respond better to positive advertising messages and actually have broader attention spans than Gen X and Y? This enhanced attention span suggests more nuanced messaging is not only appreciated but critical. 

Nuanced shouldn't suggest busy or overly-detailed, however; this generation doesn't like clutter or rapidly changing graphics/information. Progressive Grocer's Boomer Brain Marketing Assumptions: Think Again article suggests, "While the messaging can be complex, the delivery and format should be simple."

Implications for your marketing efforts? Imagine you're 55+ (and take the above comments into consideration): when viewing the Colonial Heritage interactive touchscreen "welcome" image, what message do you take away?  Engaging, peaceful, serene, inviting?  Wouldn't you like to explore more?

Interactive touchscreen sales tools respond very well for this generation: the delivery and format can be specifically designed and consumers are able to progress through your marketing information at their own speed.

Consider your CRM activities, too.  Make your product "top of mind" with easy-to-recall messages -- and utilize an automated CRM system providing repeated follow-up with your prospects.  Keep the messaging positive and highlight what your consumer will gain with the purchase.

Boomers might be a consumer segment frequently overlooked; nevertheless, they continue to exert a major marketplace influence in terms of purchasing power.  Enhance your impact with nuanced messaging!

Interested in exploring how to enhance your marketing program to better respond to not only Boomers but Gen X and Y? We'd love to talk to you regarding SalesTouch and CRM 2.0 software products!

Great Stories: Let Your Customers Tell Your Story!

Robert Clay, writing in MarketingWizdom, tells us,

"By articulating everything you do in the form of a story,

you bring everything alive, you make the invisible visible,

you enable everyone in your team to understand what you're about, 
and deliver your product, service or expertise in a better and more consistent manner."

What??? you might ask.  Our product is "X" (where x might be diapers, pencils, accounting services or new homes).  How can this piece of marketing speak help me sell?

Your customer is telling their story -- with your product!

One key element, Clay suggests, is that great stories should be aimed at a specific group of people who are in the market right now for what you offer. 

Stories communicate values -- and those values reinforce what the target audience already believes. 

In a sense, you don't need to worry about teaching something new; rather, you're communicating a message to a small group already looking for your product today.  This target audience is open to sharing your passion -- and when that mission is fulfilled, they're ready to spread your story!

CPS' SalesTouch product helps tell your story.  You already have a target audience and (in most cases) they're in the market right now for what you have to offer.

Put your story-telling skills to work!  Tell your customer how your property meets their needs -- with words, pictures and video. 

Let them create their own story from your story: moving furniture into Plan 1 with Move it/Move it or re-drawing the floorplan with Make it Mine!

One SalesTouch client has homeowners bring their friends into the leasing office.  They're looking for a great place to eat, relax or visit.  At first glance, you might think they're using the touchscreen as some sort of giant map but..they're actually illustrating how their home meets their need for convenience, access and living "in the middle of it all!"  Aren't they telling the developer's story?

Get Your Audience Engaged; Do Something That Really Stands Out

We're readers: books, magazines, blogs, you name it!  What's new in technology, marketing, the user experience, computer and mobile hardware ... all the areas we touch on with CPS' software products and our interactive touchscreen product, SalesTouch. 

And, we like to highlight articles we think others would enjoy, as well.

Power of Touch: Engage Your Prospects; Stand Out!

A recent Multifamily Insiders blog by Brittany McBride titled Let's Give Them Something to Talk About: Getting Your Audience to Engage with Your Brand is worth checking out; you can read it here.  Tongue-in-cheek she asks if anyone would every say, "Nope, I don't want anyone talking about me or engaging with my brand, said no one ever!"  She talks about the value of "word of mouse" as an influential tool.

We'll suggest the "power of touch" is equally persuasive.  Studies go so far to say as people touch, they make decisions.

And, if you're utilizing an interactive touchscreen system as a marketing tool in your sales or leasing office, consumers are touching your product!  And making decisions: I like Plan 2 better than Plan 1, for example.  Interactive touchscreens get consumers engaged and making decisions..who wouldn't want that?

Jeff Shore, the sales training guru, suggests (in his May 15 blog entitled Why You?)  that every sales person needs to ask, "What will make my product stand out?" to a home shopper as they go from community to community, looking at seemingly endless possibilities.

Shore suggests your sales presentation is key. What is different? What will really stand out in your buyer's mind?  What can you do to make your buyer feel differently about your community than all the others they have visited?

Again, we'll suggest the power of touch!  Let them browse through floorplans that meet their criteria, check out what's going on in the neighborhood that meets their needs (walking trails for one; nearby medical facilities for another), move some furniture around to see how things will look ( we've illustrated the Move it/Move it feature offered by SalesTouch above).

Engage your consumer; stand out in the marketplace; it's all possible with touch!

Homebuilders: Use CRM Effectively to Maximize Co-op Sales

Are you in a market that offers closing compensation to outside buyer agents (often referred to as co-op agents)?  Statistically speaking, a vast majority of new home communities utilize co-op agents although the practice tends to wax and wane depending on the state of the real estate market.

Homebuilder CRM: Co-op Agents are Critical in this Process

If you are part of the majority, no doubt you recognize both of you have the same objective: closing sales.  And, in some parts of the country, co-op agents represent somewhere between 70-90% of closed sales.  That's a fairly significant percentage!

What are you doing to maximize your co-op agent traffic and sales?  If you know co-op agents represent such a hefty percentage, doesn't it make sense to direct a significant effort to introducing them to your product, inviting them to new community openings and generally, keeping in close contact with this significant part of your business?

Many new homebuilders utilize CRM systems; not too many take full notice of the role co-op agents play in generating traffic and sales -- or manage co-op agents any differently than prospective homebuyers.  You may send emails and be reminded to make follow-up calls; do you have an effective way to specifically market to your co-op agents -- and keep track of the results of such marketing efforts? 

Do know know who your "top producer" co-op agent is?  Which office; which individual?  How many agents are invited to "Realtor Open Houses?" How many attend?  How many attending your events sell your homes?

We'd like to introduce you to CRM 2.0 -- CRM designed for homebuilders and focused on helping you maximize your co-op agent pool.  Take a look here -- and contact CPS for a full-featured demonstration of CRM software designed for you!

What is Your Unique Selling Proposition?

Why should someone buy from you?

Robert Clay, in his blog, Marketing Wizdom Tips No. 1 & 2, suggests that fewer than one business in a thousand can answer that question in a compelling manner. 

Are you that powerful number one or a member of the anonymous 999?

Don't you agree: there's a unique selling proposition here?

Can you tell someone what differentiates your business, what's unique, offering a superior benefit or providing something irresistible? 

There's actually at least two elements involved in that conversation: your actual unique selling proposition and how you tell that story.  We'll let you work on what is unique as we concentrate on telling the story.

Communicating your benefits quickly, clearly and effectively is critical -- and an interactive touchscreen will help.  Guaranteed.  Have you been in a sales location that has one?  It brings energy; immediately engaging visitors and getting them involved in your product. 

We're going to be at the International Builders Show in Orlando, Feb. 8-10.  Talking about our unique selling proposition as we demonstrate how we can help you communicate yours -- stop by!

What type of imagery is more impactful: Product or Lifestyle?

CPS develops interactive touchscreen presentations for clients to use in customer-facing environments.  Our SalesTouch product (used in sales and leasing offices) frequently displays neighborhood amenities -- schools, shopping, dining, recreation, etc. 

We're often asked, "What do you think? Should we use pictures of the outside of the location or a map or something different?"

Wouldn't you like to find out more about living in this neighborhood?

The same question can be asked more generically, "What types of images motivate consumers: product or lifestyle?" since motivating a consumer decision is the ultimate objective of the image.

Opinions vary all over the map. 

Those advocating for "product" say that type of image creates a communications path and link with the product. 

Others suggest "lifestyle" saying those images can instantly illustrate an unrealized need in an uncomplicated fashion. 

In a somewhat informal poll, using marketing blogs, lifestyle appears to be the most prevalent.  Karl Adrian said it well, "Rule of thumb: first, sell the heart, then the mind, then the wallet with product benefits and pricing." 

What do you think?

Personalization: Reframing the Home Purchase Decision-Making Process

Builder Radio offers a great set of resources for new home sales/marketing professionals ranging from Podcasts to Webinars to an audio/visual library...all oriented towards "Helping Builders Sell More Homes."  We suggest dropping by http://www.builderradio.com/ and taking a look at what is offered.

Let your buyers take the floorplan and...make it their own!

Recently, Jane Meagher with Success Strategies participated in a Builder Radio Podcast titled, Making Personalization Part of the Sales Process.  She highlighted a key sales concept: today's consumer likes to have control over purchases and that desire offers homebuilders a unique advantage compared to used, foreclosed and spec homes: the ability to personalize the purchase.

Jane suggests that salespeople ask probing questions designed to get prospective buyers to "dream the dream" and talk about their preferred lifestyle.  This process allows the buyer to reframe their decision-making process and, she says, drives the buyer to ask, "Why settle? Maybe I can get what I want, even if it costs a little more."

That question allows the builder to differentiate the new home from other homesfor sale-- since their purchase must be considered "as is."  Sure, after the purchase the buyer can tear up the carpet, add granite but..not today.

And, here's where an interactive touchscreen system can be an effective sales tool, as well.  Buyers can mix and match structural options, see the results and print out their uniquely designed floorplan.  No more standard brochures with arrows, lines and cross-outs! They can add/remove furniture and mark-up the floorplan, as well.  Change the wall between kitchen and family room to a pony wall; mark-up the kitchen to add a center island, make the base floorplan their home.

Robert Musa talks more about the value of interactive touchscreens in the sales process in his book, Creating Customers with Interactive Digital Signage.  It's available through BuilderRadio.

Your prospect's first visit: is it really a "be back"?

Beth Bliffen, a new homes sales/marketing professional based in Southern California, has a great blog on the value of Real Estate Staging.  She talks about packaging vacant standing inventory homes to your targeted market.

What jumped out in a recent blog, however, was this sentence, "Today's buyer can be considered a "be back" on their first visit... if you realize over 90% of homebuyers will have seen your homes online."

Going beyond the static...engaging your prospect

How have you modified your sales and marketing program as a result of that statistic?  Many people "shop" online, for example, but "buy" in a bricks-and-mortar location after having the opportunity to "try on" the actual clothes, shoes, whatever.

If you're selling new homes, for example, this statistic can signal that your sales approach needs to be modified as does your marketing collateral.  It might not be enough, for example, to provide static sitemap and floorplan displays -- your prospect has already seen those online. 

Good sales people ask questions and position inventory in relationship to the responses.  The "gourmet" kitchen meets a specific need, for example, and the "den in lieu of 4th bedroom" accommodates someone who works from home. 

An interactive touchscreen facilitates the same process...responding to a prospect's criteria (e.g., let's look at all 4 bedroom homes--for the 3 kids-- with a lower level master--have an early riser-- and den--who works remote)...and there's an inventory home available, now!  Plus, you're able, via the interactive presentation, to bring the neigborhood to life -- schools, shopping/dining, recreation.

Today's visitor doesn't need an introduction to your community; they know the basics (that is, they've already shopped online) and now they're ready to drill down and find out the details to determine if there's a fit and make a buying decision!

Redefining Creative ....

Read another great AdAge blog article about a month behind, It's Not the Size, It's How You Use It, by Rob Gatto. Too cute, isn't it?

But, he had some interesting points centered around the idea that brute-force messaging isn't effective.

Engaging Your Consumer...Not Yelling a Message!

Well...what is meaningful for a consumer?  Gatto suggests interactive experiences are what people prefer.  That's the type of messaging that reflects the way consumers live today: social, mobile, participatory, fun...and smart. 

And, that means dynamically created, personalized, requiring action on the part of the consumer.  Touchscreens do those things as they actively engage consumers.  Touchscreens ask questions; wait for responses; allow shoppers to make selections; offer a way to annotate floorplans, maps, drawings.  They narrowcast (they're not yelling the same message to everyone, in other words). 

It's not just delivering an impression...today's creative has to make an impression.

Say Hello! to a lifestyle focused on community, connection, quality...

Finally had a chance to read The Power of the Post-Recession Consumer, by John Gerzema and Michael D'Antonio, found at http://www.strategy-business.com/.

The article noted that the perceived change in consumer attitudes (e.g., a return to "old fashioned" values to build lives of purpose and connection) isn't a fad or whim -- or even relatively new.  Although the "Great Recession" has some influence, the authors suggest there's more to this "Spend Shift" movement and that it is here to stay.

Brand Attributes: Kindness and Empathy (up 391%)

How does this relate to your marketing program?  Or, interactive touchscreens for that matter?

This Spend Shift movement reflects an interest in products and brands seen as "friendly", "high quality", and "socially responsible" (as contrasted with "exclusive", for example). These brand attributes highlight what people are defining and desiring in today's consumer marketplace.

Does your marketing program recognize this message?  The Spend Shift movement will create opportunities for those organizations reflecting these "new" (or, perhaps more accurately said, newly expressed) values.

Interactive touchscreens not only allow you to engage your prospects..you're able to ask questions, seek feedback and provide value-added information.  Each of those activities let your consumers know that your brand is focused on creating a connection.  Add in the desire for a more creative lifestyle and one that is socially responsible and... your ability to provide an interactive experience with "green" features such as "print on demand" and e-brochures not only provides cost-savings but actually enhances your brand as it provides you with an  opportunity to meet today's consumer expectations.