Builders: Do You Share These Pain Points?

Interesting recent BuilderOnline article by John McManus noting that the benefits of the current recovery in homebuilding appear slanted towards the very large, production homebuilders.

CPS FieldCollaborate:
Cycle-time Improvements Start Quickly

Market Gains Aren't Equal Across the Builder Landscape

Today, smaller builders, says McManus, are working harder and have a bunch of "math basics" working against them.  Larger builders are able to optimize finance structures as well as relationships with land sellers, vendors and distribution networks.

In many cases, the result, for smaller builders, is a profit squeeze. Labor and material costs are increasing and builders report usable lots aren't as available and are more expensive.

Technology Investment as a Tool

Are these some of your pain points? There's a few more: McManus goes on to say that many of the "smaller builder positives" such as local land knowledge, long-standing vendor relationships and local homeowner referrals don't hold as much sway as previously.  And, there is the Millennial home buyer with all sorts of different objectives, priorities and shopping patterns.

Add to that, larger builders have invested in sales, marketing and operations-focused technology -- and the results are making for a much more competitive marketplace.

Interactive Technology lets you eliminate static displays

Dial-up Your Motivation to Locate Solutions

One solution, McManus suggests, is locating capital partners to achieve better margins. That's certainly an option for some.

Another is reviewing and evaluating current operations. Are you still operating with pen/pencil on the operations side? There are relatively inexpensive, easy-to-use construction management software products such as CPS' 2018 Constructech award-winning, cloud-based FieldCollaborate that can be implemented quickly and start paying off in decreased cycle times and increased communications with vendors and buyers. Buyer referrals still resonate -- grab them as a result of technology use! Available anywhere/anytime for field managers, vendors, home buyers, corporate users.

Take the opportunity to examine how well you are telling your home shopper's story, as well. Step away from tired, static displays and utilize an interactive presentation -- consider an iPad or Surface tablet  if a larger display isn't feasible.

Upgraded marketing tools create an environment appealing to the ever-growing Millennial buyer and responding to their need for new ideas, designs and uses -- and, interactive technology is the way they're used to purchasing.  Adding interactive technology doesn't need to be an incremental increase in cost -- you're able to eliminate the wall-mounted floorplans and pre-printed brochures with products such as CPS' SalesTouch. 

More on: Marketing to Millennials

Interesting recent article from Quosol regarding your sales and marketing approach to Millennials.

Did you know Millennials are now almost 25% of the US population? That's about the same as the Boomer population -- we're experiencing one of the largest demographic shifts in modern history.

Quosol suggests Millennials think and act differently than the rest of the population -- and that we all need to learn about how to sell to this increasingly important marketing demographic. Several key thoughts emerge as key to making sure your organization is Millennial-savvy:

1. Millennials have grown up with a focus on them -- and social media has only intensified that by putting them under a microscope.  It's the gate keeper between the sale and them.  As a result, communications need to be relevant and personal. It's about capturing their attention!
2. Millennials do their research -- and 80% of their purchase decision is made before they become a lead. 60% say they are often or always loyal to brands that they currently purchase -- often putting quality over price.
3. Millennials are beyond tech savvy -- technology has been a part of their entire life (some were playing with cell phones instead of traditional toys!). You'll need to marketing in ways that are their way of communicating -- employing digital as a part of the sales process.                   

CPS' Social Media Wall: Putting Technology to Work!

30% of Millennials use 4 or more technology devices a day & check their smartphones at least 43 times a day!

We suggest incorporating CPS' Social Media Wall --  an engaging, ever-changing display of shared customer experiences encouraging businesses and their audience to create a new type of digital story. Take marketing messages and display them side-by-side with consumer generated content, such as photos and videos, from popular social media sites like Twitter and Instagram. 

The result? Technology providing a shared, creative process fostering an ongoing, engaging customer experience -- exactly the type of sales experience your Millennial audience rewards!

Builders: Relatable and Emotionally Charged Marketing Ideas

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.

SalesTouch engages your audience with relatable content!

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.

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

In addition, 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 a story's details matter as much as the outcome.

There are many marketing studies out there but.. let's just concentrate on these two pieces of information for a moment: women are "the most connected audience" and they are motivated by richly detailed stories.  How might this influence your marketing approach (and sales, for that matter!)?

Suggestion #1: don't cut to the end...take time (and energy) to tell the story!

Take a look at the image at the top of this blog.  It's from a CPS SalesTouch interactive touchscreen presentation at a multifamily property, The John Marshall.  This property is telling their location story: there's a lot going on in the surrounding area; there are all sorts of restaurants...

But.. that's not the end of their story!  John Marshall's interactive touchscreen system not only provides information about the restaurant and an appropriate image.. it calls out a signature dish!  If you were looking for an apartment in the area, can't you see yourself relating?  Trying this restaurant, living in this neighborhood?

To some extent, doesn't this image take you to Suggestion #2: The best stories are emotionally charged.  John Marshall doesn't just list the restaurants; it shows very appealing images and takes time to provide something really interesting: the "Gotta Try" dish.  Can't you just taste these oysters? Wouldn't it be great living in this property so you could try other restaurants and their signature dishes, too?

We'll have more Suggestions in future blogs talking about including women and their "relater" tendencies.  Meanwhile, try thinking of one new way you can incorporate relatable stores and technology into your sales and marketing process!

We'll give you a starter story idea: follow-up a prospect's visit (whether they were looking at a car, home, apartment or ...) with an email containing a short cell phone video you just made highlighting 2-3 items covered in your sales presentation -- as you open the door to the car or walk through the home visited.  It's easy-to-do and will resonate with your prospect!  This creative way to story-tell comes courtesy of new home sales trainer, Jeff Shore!

Interested in learning more about relatable marketing technology?  Here at CPS we can talk to you about interactive touchscreen-based presentations, social media walls and dynamic, consumer-focused comment systems.

Millennials: Convergence of Influence (aka "Helicopter Friends")

AdvertisingAge, on April 11, 2011, mentioned the idea, "convergence of influence."  You've heard about "helicopter parents", right?  Well, Advertising Age suggested millennials frequently function as "helicopter friends" in the much the same way as individuals influence each others' purchases, friends, world view. 

That concept is what makes today's social networking (and, more importantly, social marketing) so critical, "I made a mistake, I didn't like this product so...I'm going to share that experience with you because I don't want you to make the same mistake."

And, "helicoptering" applies to their positive purchasing experiences, as well.  Millennials, says AdvertisingAge, aren't impulse shoppers. They like to spend a lot of time and effort researching.  And, they like to share what they're seeing and buying (complete with images).

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Today's marketing strategies need to take that "shop/share/buy" process into account.  To some extent, it's no longer marketing to an individual ... but marketing to that individual and everyone within their social network.

That's what is exciting about the use of technology from a sales perspective: this audience will shop and when they see something in line with their spending priorities, they'll share it with friends... as well as buy.  It may not be the cheapest choice but...because technology has played a role in what they look for and actually see, they have become "expert" consumers. 

The web has helped make this "expert" consumer possible; now, it's time to incorporate a similar experience at "point of sale."  Interactive touchscreens encourage the same "shop" experience as they, too, engage, inform and create an "expert."  Adding the ability to "share" the experience is the next, critical step for interactive touchscreen design.