Veterans Day: Remembering Service to Our Country

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A grateful nation remembers and thanks all those who have served to protect and defend our liberty and freedoms. 

Millions have served our country over the centuries; we pause  to thank those serving today including Troy's brother, John, in Alaska.

Good News in the Multifamily Market

There's good news to be found in the housing sector..in the multifamily market.  Mark Herschmeyer, atCoStar Group, tells us that "the apartment market has become one of the real estate industry's -- and the broader economy's -- best hopes for a return to the good old days." 

The numbers bear up this optimistic commentary: in the last 12 months, there's been a net increase of 1.4 million households in rental housing.  And, new construction starts are at their highest since the end of 2008 with the pace of development activity increasing in most markets.

Another interesting statistic is that a "substantial piece of the overall apartment demand story," according to Michael Cohen at CoStar is, the middle-aged demographic (basically, ages 35-64 years).

Cohen asks, "I wonder whether developers truly understand the contours of their renter base."  Do you?  How does this changing demographic impact your marketing efforts?  As Cohen, suggests, it's the middle-aged household that is interested in stainless-steel appliances and granite countertops.  There's a broad segment of the multifamily market with an interest in location, amenities and features; how have you adjusted your product and marketing for this demographic? 

Doesn't an interactive touchscreen provide an effective way to reach this market?  Let your "new" prospects browse through floorplans, explore the neighborhood and search based upon their criteria.

What's Hot in Digital Signage? Data-driven Content

Real-time, data-driven content answers consumer questions

It's interesting to see, in screenmediamag.com, that "data-driven content" is right up there in a recent "What's Hot?" article.  It's alongside NFC (near field communication) -- a much newer digital signage component providing for simplified transactions between two devices located in close proximity.

CPS has been providing data-driven content in our interactive touchscreen product, SalesTouch, since it was introduced.  We thought it made sense to display real-time information in every presentation.  Who wants to see old, outdated information? Or have to ask even the most basic questions?

Looking for a new home?  SalesTouch displays current inventory and pricing.  Interested in apartment living?  SalesTouch displays available units meeting your desired criteria (one bedroom, view of the river and on a higher floor).  Visiting the Navy Yard?  CPS' interactive map allows you to search through personnel, find their location and notify them of your arrival.

That's what data-driven content brings to digital signage!  Consumers find real answers to their questions.  An equally powerful component is seamless integration whereby data in one system (e.g., current inventory and unit pricing found in a third-party accounting application) displays in another (the SalesTouch interactive sitemap). Great to find out that this is considered HOT!

And, we can help with NFC, too!

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?

Marketing and Packaging "Green"

Jobie Summer, with MarketYourSustainableBusiness.com, presented her unique approach to "green" marketing based upon how consumers value and purchase "green" in a recent BuilderRadio discussion.

Whole Foods Market Customer Comment Board - multiple shades of green!

It's an eye-opener for businesses selling anything from consumer products to cards to new homes and everything in between.  Summer's approach suggests every seller re-examine their green "value-proposition" in terms of where their potential buyers sit on the "green" scale.  One "green" buyer, for example, will appreciate your LEED certification; another is far more interested in purchasing items impacting their lifestyle.  In other words, buyers motivated by "green" aren't motivated in the same manner and won't make similar purchase decisions.

Jobie suggests buyers fall into 1 of 4 "shades" of green:

(1) LOHAS (Lifestyles of Health and Sustainability) - these buyers make decisions based on values, are the least price-sensitive and drive trends, encouraging others to try "green";
(2) Naturalities - buyers motivated by personal health and wellness objectives; they will pay for certain types of "green" products directly impacting their lifestyle ;
(3) Drifters - trends are important to these buyers yet they're not driven by community values; more price-sensitive; green needs to have personal connection;
(4) Conventionals - these buyers focus on the practical; want to see a community perspective as they focus on recycling, energy savings and the like.

What's "green" have to do with interactive touchscreens?  Using a touchscreen allows you to enhance your green footprint -- and respond to multiple "shades" of green.  Highlight your "conventional" green credentials by eliminating pre-printed brochures with the print on-demand functionality; direct attention to specific green components (e.g., carpet, paint, etc); highlight your green credentials through commentary, signage and video such as "behind the walls".

8 Marketing Changes...they're only 8?

It's been said that today's marketing world is experiencing a "revolution like never in its history" according to Loren McDonald.  He suggests there are 8 major marketing events or changes that we can't ignore. 

At the top of the list:

#1 - Customer Service is the new marketing; and

#2 - Customers become your marketing department.

They're related aren't they?  Customers -- in your store, on your website, in your sales office -- gather impressions and make decisions more quickly than ever.  Then, they're likely to Tweet, Facebook and otherwise distribute those impressions to their friends (in other words, their world!).  They're interacting with and influencing people you've never even had a chance to influence -- as well as those you've actively marketed and advertised to with carefully planned campaigns!

As a result, the the customer experience is critical.  Customer Service is no longer answering questions or processing returns in an efficient and friendly fashion; it's the entire experience that's under the microscope.   Making it memorable, unique and positive is key to growing your business and acquiring new customers.  Your customer "marketers" are influencing your market...and it's important (and exciting) to enable and encourage them to do some of your marketing for you.

Social media can't be pigeonholed -- it's not just communications or entertainment or advertising or marketing.  It is up to you to harness social media as your marketing partner as best possible -- and as uniquely as you're able. 

Interactive Marketing: Keep your focus on dialogue

Interactive Marketing was recently defined by Forrester Research as the use of addressable channels like email, search, displays, social media, mobile and online video to sense and respond to customer needs.

Those engaged in interactive marketing face a number of challenges including "how do we really engage in dialogue ... in dynamic customer conversation?"

In other words, it's not all about broadcasting information ... interactive marketers have to engage customers, listen and respond in real time to their concerns. 

The Whole Foods Customer Comment Board (illustrated below) provides a unique insight into the concept of a "customer pioneer" as they're using an interactive touchscreen to actively solicit customer input and provide responses in real-time.

Forrester suggests a pioneer is the rare interactive marketer who obsesses about the customer and uses interactive channels as a means to foster an improved relationship with the customer.

In the tension between a channel vs. customer focus and push vs. dialogue interaction, the pioneer's focus is on impactful customer experience -- and technology is a key component in the solution.  We'll be talking more about the role of an interactive touchscreen in this focus on dialogue.