[email protected] 1 It’s a Changing World It’s a Changing World Future Success Strategies: Future Success Strategies: Real Estate Agents Real Estate Agents Jim Bottomley Jim Bottomley September 15, 2011 September 15, 2011
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It’s a Changing WorldIt’s a Changing World
Future Success Strategies:Future Success Strategies: Real Estate AgentsReal Estate Agents
Jim BottomleyJim Bottomley
September 15, 2011September 15, 2011
The The FutureFuture
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Today’s AgendaToday’s Agenda Morning: Industry TrendsMorning: Industry Trends
Future Opportunities & ChallengesFuture Opportunities & Challenges Afternoon: Improving Future SuccessAfternoon: Improving Future Success
1.1. Profiting from Change Profiting from Change Trend Trend Analysis – Future IssuesAnalysis – Future Issues
2.2. Meeting Client Lifestyle Needs Meeting Client Lifestyle Needs Better Benefit StrategiesBetter Benefit Strategies
3.3. Improving Marketing & Sales Performance: Improving Marketing & Sales Performance: Tools for SuccessTools for Success
Change results in Change results in bothbothopportunities and threatsopportunities and threats
Change
Change
++
__
The key to managing change isThe key to managing change isdetermining how to react to it...determining how to react to it...
Actions to embrace opportunitiesActions to embrace opportunities Actions to minimize or avoid threatsActions to minimize or avoid threats
WorkWork==
Meeting NeedsMeeting Needs
SuccessSuccess==
Need SatisfactionNeed Satisfaction
Evaluating an Evaluating an OpportunityOpportunity
Is it on trend?Is it on trend?
- a need that is growing- a need that is growing
Need Satisfiers identified?Need Satisfiers identified?
- target groups / defined goals- target groups / defined goals
Better Benefits provided?Better Benefits provided?
- solutions delivered in a better - solutions delivered in a better
way than other optionsway than other options
Trend AreasTrend Areas
1. Technology1. Technology2. Economic2. Economic3. Social/Cultural3. Social/Cultural4. Demographic4. Demographic5. Political/Legal5. Political/Legal
Technology is the lead-edge of Technology is the lead-edge of change…change…
The Global PictureThe Global Picture 7 Billion to 9 Billion by 2045 ?7 Billion to 9 Billion by 2045 ? Developed world pop. growth dependent in large Developed world pop. growth dependent in large
part on level of women empowermentpart on level of women empowerment 1 billion more people in middle class – increasing 1 billion more people in middle class – increasing
demand for meat (takes 4 lbs of grain for 1 lb of demand for meat (takes 4 lbs of grain for 1 lb of meat)meat)
Canadian Agriculture will impact the World!Canadian Agriculture will impact the World!
Land prices becoming a global standardLand prices becoming a global standardAs are world-class cities…As are world-class cities…
Technology Changes Technology Changes + or -+ or -
++ Higher levels of productivity Higher levels of productivity based on new technologiesbased on new technologies
(new long range cycles coming)(new long range cycles coming)
-- Industry redefinition; often job loss, Industry redefinition; often job loss, followed by increased followed by increased
career shiftingcareer shifting
Major World Economic ErasMajor World Economic Eras1. Hunter Gatherers1. Hunter Gatherers2. Agricultural Age 2. Agricultural Age (90% to 2%)(90% to 2%) 3. Industrial Age3. Industrial Age % of Jobs% of Jobs 19001900 19511951 19861986 19991999 2005 2005 20082008in Production in Production 69% 53% 30%69% 53% 30% 15% 13% 11.5% 15% 13% 11.5%
4. Information Age4. Information Age
A whole new set of opportunitiesA whole new set of opportunitiesand challenges...and challenges...
Widening Gap Between Widening Gap Between Highest & Lowest Income Earners?Highest & Lowest Income Earners? The bar for minimum skills in all The bar for minimum skills in all
professions/careers is risingprofessions/careers is rising
How does an uneducated person How does an uneducated person find job security in the future?find job security in the future?
Less traditional family & community Less traditional family & community supports to help the least fortunate supports to help the least fortunate
There will be a growing need There will be a growing need
for housing to fill the gapsfor housing to fill the gaps
The Rise of The Rise of Small BusinessSmall Business
Transitions between economies – Transitions between economies – maximizes opportunities for small maximizes opportunities for small business creation business creation
Small business has been the major Small business has been the major generator of job growth in Canadagenerator of job growth in Canada
Future trends point to high growth Future trends point to high growth continuing for small business in continuing for small business in CanadaCanada
Home offices and wired homes –Home offices and wired homes –can the office of the future be can the office of the future be virtual… and at home? virtual… and at home?
Trend Convergence:Trend Convergence: The Age of InnovationThe Age of Innovation
We are in an era of We are in an era of
maximum change!maximum change!
We are entering theWe are entering the
5th Economic Era5th Economic Era
Jim [email protected] 16
Wealth =Wealth =Technology X ResourcesTechnology X Resources
New Technology comes fromNew Technology comes fromCollaboration, Collaboration, and now, new and now, new
tools!tools!Maximum potential Maximum potential
for innovationfor innovation……
Industry TransformationIndustry Transformation World markets - finding your niche(s)World markets - finding your niche(s) New Methodologies:New Methodologies:
-Internet -Radio Frequency ID -Internet -Radio Frequency ID -More complex J.I.T. logistics-More complex J.I.T. logistics-Quality & Green Standards-Quality & Green Standards
Reducing costs – collaborative automation and Reducing costs – collaborative automation and continuous process improvement keycontinuous process improvement key
Big wins in client satisfaction possible –Big wins in client satisfaction possible –interactive transfer of information – knowledge interactive transfer of information – knowledge has value!has value!
Knowledge comes thru collaborationKnowledge comes thru collaboration
The Ultimate Regional Alliance: The Ultimate Regional Alliance: Forming Regional Clusters Forming Regional Clusters
Centres of Excellence are mostly Centres of Excellence are mostly associated with research onlyassociated with research only
Clusters focus on area of lead-edge Clusters focus on area of lead-edge need, with collaborative public and need, with collaborative public and private sector partners conducting private sector partners conducting research, commercialization and research, commercialization and serving to promote regional economic serving to promote regional economic growthgrowth
Recruitment & retention tie to regional Recruitment & retention tie to regional identity, economic development & identity, economic development & quality of lifequality of life
The Regional Cluster’s The Regional Cluster’s Ultimate GoalsUltimate Goals
Develop new products and Develop new products and services which could be exported – services which could be exported – creating high paying jobs & creating high paying jobs & economic growth for the areaeconomic growth for the area
Synergies for Cluster PartnersSynergies for Cluster Partners
Branding the region to attract Branding the region to attract investment, skilled labour and investment, skilled labour and additional Cluster partnersadditional Cluster partners
Potential Clusters?Potential Clusters? Match with regional strengthsMatch with regional strengths On-Trend – world-wide demand On-Trend – world-wide demand
themesthemes Connect to lead-edge researchConnect to lead-edge research
and/or application/testing of and/or application/testing of the better benefit solutionsthe better benefit solutions
Private & Public PartnershipsPrivate & Public Partnerships
Challenges Developing Challenges Developing Regional VisionRegional Vision
For Regional Tourism, the more input, For Regional Tourism, the more input, the less differentiated the message the less differentiated the message tends to betends to be
For Clusters, a sector focus limits For Clusters, a sector focus limits identification of marketplace identification of marketplace opportunities – better “how’s” transfer opportunities – better “how’s” transfer across industriesacross industries
Language that stimulates innovation Language that stimulates innovation involves better benefit goals – and involves better benefit goals – and can connect Clusters to recruitment to can connect Clusters to recruitment to regional brandingregional branding
Energy & SustainabilityEnergy & Sustainability When is peak oil?When is peak oil? Awareness of climate change Awareness of climate change
growinggrowing No magic bullet green solutionNo magic bullet green solution Solutions will involve many small Solutions will involve many small
& big steps involving businesses & big steps involving businesses and consumersand consumers
Expect to be carbon aware; likely Expect to be carbon aware; likely tracked and tradedtracked and traded
Smart Planning Smart Planning The New Urbanism The New Urbanism
Higher density & diversityHigher density & diversity Walking, biking, public transitWalking, biking, public transit Sustainable with lower ecological Sustainable with lower ecological
footprintfootprint 100 mile rule – farmers’ markets 100 mile rule – farmers’ markets
and urban gardensand urban gardens Friendly, interactive and Friendly, interactive and
community-mindedcommunity-minded Unique identity and sense of placeUnique identity and sense of place
Promoting a RegionPromoting a Region
Increasingly, not only infrastructure Increasingly, not only infrastructure and business conditions, but and business conditions, but social/quality of life factors are social/quality of life factors are important important
In future, In future, companies will locate where companies will locate where people want to live people want to live
Community health and positive Community health and positive lifestyle offerings will increasingly be lifestyle offerings will increasingly be important to economic healthimportant to economic health
Aging PopulationAging Population Baby boomers currently 45-65Baby boomers currently 45-65 with peak year at age 50with peak year at age 50 Single parent & blended families are Single parent & blended families are
biggest growing family type – also more biggest growing family type – also more often extended families often extended families
Highly skilled people in their earlier Highly skilled people in their earlier years want action, vibrancy & diversity years want action, vibrancy & diversity
Emerging trend? Baby Boomers & Emerging trend? Baby Boomers & immigrants moving to small towns/rural immigrants moving to small towns/rural – – seeking nature, friendliness, safety & seeking nature, friendliness, safety & good health caregood health care
The future of crime is fraud The future of crime is fraud (identity theft and title fraud)(identity theft and title fraud)
Customer Perception:Customer Perception:“I’m Not Aging like “I’m Not Aging like
everyone else.”everyone else.” Recent research has shown:Recent research has shown: Boomers generally perceive themselves Boomers generally perceive themselves
as 14 years younger than their actual as 14 years younger than their actual ageage
An example: Gap launched a line of An example: Gap launched a line of clothing for women over 35 – actually clothing for women over 35 – actually over 50over 50
Lifestyles now more important than ageLifestyles now more important than age
Demographic TrendsDemographic Trends
Attracting skilled labour will be a Attracting skilled labour will be a bigger and bigger challengebigger and bigger challenge
Immigration will grow - and diversity Immigration will grow - and diversity stokes innovation stokes innovation
Many workplaces now have 4 Many workplaces now have 4 generations working together – in generations working together – in many places it’s skewed to older many places it’s skewed to older and youthand youth
Communication Communication by Generationby Generation
Gen X’s – born ‘65 to ‘80 (31 to 46)Gen X’s – born ‘65 to ‘80 (31 to 46) - less in this group – up against boomer - less in this group – up against boomer
powerpower - weaker job market following the - weaker job market following the
boomers, who also bid asset values up boomers, who also bid asset values up (realists)(realists)
Gen Y’s - born ‘81 to ‘99 (12 to 30)Gen Y’s - born ‘81 to ‘99 (12 to 30) - - grew up in homes with absentee parentsgrew up in homes with absentee parents - great L/T career prospects – have power- great L/T career prospects – have power
Both groups are members of the Creative Both groups are members of the Creative Class – less structured, seeking creativeClass – less structured, seeking creativestimulation, want to be involved instimulation, want to be involved indecisions & embrace new technologiesdecisions & embrace new technologies
The Millennium GenerationThe Millennium Generation
Saw parents’ sacrificesSaw parents’ sacrifices- lifestyle work balance sought- lifestyle work balance sought
Raised with adulation & goodwill Raised with adulation & goodwill – – expect thanks and involvementexpect thanks and involvement
Employers must coach not bossEmployers must coach not boss Have bright employment prospectsHave bright employment prospects
- they’ll walk- they’ll walk Extraordinary Tech SkillsExtraordinary Tech Skills
Social TrendsSocial Trends Environmental sustainability; connecting Environmental sustainability; connecting
with nature with nature Stress relief; seeking life balanceStress relief; seeking life balance Cocooning: safety & securityCocooning: safety & security Return to family values Return to family values
- Inter-family experiences sought- Inter-family experiences sought The “creative class” seeks vitality The “creative class” seeks vitality
stimulation & is time-challengedstimulation & is time-challenged Caring capitalismCaring capitalism Remote technology Remote technology - - Alternative work styles possibleAlternative work styles possible
Most ImportantMost ImportantSocial/Cultural TrendSocial/Cultural Trend
The RiseThe Rise
ofof
Individual PowerIndividual Power
ThroughThrough
KnowledgeKnowledge
ResultResult More demanding, knowledgeable More demanding, knowledgeable
purchasers purchasers Focused need satisfaction strategies are Focused need satisfaction strategies are
the key to success in the new economythe key to success in the new economy Suppliers increasingly are “partnering” with Suppliers increasingly are “partnering” with
buyers/client organizations to achieve need buyers/client organizations to achieve need satisfaction – integrating supply chains and satisfaction – integrating supply chains and more robust servicesmore robust services
Effective communication strategies are Effective communication strategies are changingchanging
ResultResult
Accountability & success tracked and Accountability & success tracked and made publicmade public
How to best measure impact?How to best measure impact?How to measure if How to measure if needsneeds being met? being met?How to track need satisfaction over time?How to track need satisfaction over time?How to measure organizational efficiency?How to measure organizational efficiency?
Effective reporting & communication Effective reporting & communication strategies are changing…strategies are changing…
Cultivating your FivesCultivating your Fives Find out your 5’s and engageFind out your 5’s and engage They can become your market intelligence, They can become your market intelligence,
salesforce, researchers and promoters salesforce, researchers and promoters (LinkedIn is like Facebook for professionals)(LinkedIn is like Facebook for professionals)
What topics do you play in? How can you What topics do you play in? How can you contribute to advancing the world of that contribute to advancing the world of that topic? Who really cares about that topic?topic? Who really cares about that topic?
Remember it’s about meeting needs… Remember it’s about meeting needs… Key Question: Key Question:
Why should someone engage? Why should someone engage? (Ego, identity, exclusivity, money, knowledge (Ego, identity, exclusivity, money, knowledge
and/or entertainment)and/or entertainment)
Key to Sales SuccessKey to Sales Success
Trust?? Trust?? To a customer, a good sales To a customer, a good sales
transaction is based on their transaction is based on their perception of whether:perception of whether:
The salesperson’s #1 priority is to The salesperson’s #1 priority is to put money in his/her own pocket or put money in his/her own pocket or truly to meet customer needs?truly to meet customer needs?
Leadership is ChangingLeadership is ChangingOld Old
Management is Management is Control & setting Control & setting rulesrules
COP - MonitorCOP - Monitor Coercion; Top Coercion; Top
Down, Leader Down, Leader DirectedDirected
Total AuthorityTotal Authority Focus on the Focus on the
presentpresent
NewNew Leadership is Leadership is
Motivational & Motivational & guiding valuesguiding values
COACH -InspireCOACH -Inspire Respect, Self-Respect, Self-
management, management, TeamsTeams
Share AuthorityShare Authority Focus on the Focus on the
futurefuture
From Mass MarketsFrom Mass Marketstoto
Niche MarketsNiche Marketsto ato a
Target Market of OneTarget Market of One
Jim [email protected] 41
The 5The 5thth Economy Economy Is Coming…Is Coming…
The Age of InnovationThe Age of InnovationA combination of…A combination of…
DNA DNA ComputerizationComputerization Robotics & Process AutomationRobotics & Process Automation NanotechnologyNanotechnology
Driven by Driven by Customization & Customization & New levels of Customer CollaborationNew levels of Customer Collaboration
The Information Beast The Information Beast Has Escaped the ZooHas Escaped the Zoo
Microsoft Data predicts the world’s Microsoft Data predicts the world’s information data base will double information data base will double every 7 days by 2020every 7 days by 2020
24/7 communication access24/7 communication access Info attacks us everywhere and Info attacks us everywhere and
anywhere anywhere +4,000 ad messages / day+4,000 ad messages / day We’re Good at Tuning Stuff Out…We’re Good at Tuning Stuff Out…
All communications must be clearer All communications must be clearer and focus on stakeholder needs…and focus on stakeholder needs…
Better Benefits:Better Benefits: Attract attention in the age of information Attract attention in the age of information
overload – drive brandingoverload – drive branding Our reason for buying anythingOur reason for buying anything Drive motivation & investment Drive motivation & investment Define the value of each step in a process Define the value of each step in a process
Better Benefit delivery Better Benefit delivery is ouris our
collective and individual collective and individual reason for beingreason for being
Strategy for $$$$$Strategy for $$$$$Moving from lowest price to providing Moving from lowest price to providing added-value at higher margins? added-value at higher margins? ¤Requires focused better benefit Requires focused better benefit
strategiesstrategies¤ Involves providing specific Involves providing specific high-priority need satisfiers better high-priority need satisfiers better
than competition… andthan competition… and proving it over time… your sales proving it over time… your sales
“story” should reflect this“story” should reflect this
Marketing/BrandingMarketing/Branding Success Success
Positioning MessagePositioning Message(Better Benefit Message)(Better Benefit Message)
Company/productCompany/product is the is the who/what you arewho/what you arethat offers that offers better benefit(s)better benefit(s)
Keep promises or apologizeKeep promises or apologizeSurprise and delightSurprise and delight
Delivering on Delivering on Brand PromiseBrand Promise
Understanding (of customer needs)Understanding (of customer needs) Identification (of competition)Identification (of competition) Planning (an integrated effort)Planning (an integrated effort) Learning (what actions work/don’t work)Learning (what actions work/don’t work) Delivering (as promised!)Delivering (as promised!) Evaluating (and measuring)Evaluating (and measuring) Improving (and continuing cycle)Improving (and continuing cycle) SOCIAL MEDIA SUPPORTS THESE STEPSSOCIAL MEDIA SUPPORTS THESE STEPS
-connects people to communities efficiently-connects people to communities efficiently -brand is the sum of conversations re. you-brand is the sum of conversations re. you
-listening & responding & promoting story-listening & responding & promoting story
The Innovative The Innovative OrganizationOrganization
People understand the total People understand the total systemsystem
Decision making at all levelsDecision making at all levels Information to those who actInformation to those who act No artificial barriersNo artificial barriers Supervisors manage not policeSupervisors manage not police Make jobs to fit strengthsMake jobs to fit strengths Problem solving is sharedProblem solving is shared
Process Design Process Design GuidelinesGuidelines
Look forLook for:: Disturbances/problems in the process – Disturbances/problems in the process –
never hand off a problem to the next never hand off a problem to the next stagestage
Redundancies/non-value added hand Redundancies/non-value added hand offsoffs
Inefficiencies/deficiencies/delaysInefficiencies/deficiencies/delays Does the step add a better benefit or Does the step add a better benefit or
not? Are goals related to need not? Are goals related to need satisfaction measurement?satisfaction measurement?
MotivationMotivation==
Clear and Shared GoalsClear and Shared Goalsxx
Tracking & Measuring & Tracking & Measuring & Communicating SuccessCommunicating Success
xxRewards for Achievement Rewards for Achievement
LeadershipLeadership
Common goals are key for team success Common goals are key for team success (managers change from cop to coach; (managers change from cop to coach; need to align goals of the organization need to align goals of the organization with those of each department with with those of each department with those of the individual)those of the individual)
Change Planning involves identifying Change Planning involves identifying bothboth the positives and negatives the positives and negatives
Involve people in the process Involve people in the process Ego-less Management…supporting the Ego-less Management…supporting the
stressed and stressing the positive…stressed and stressing the positive…
Electrical Career:Electrical Career:Sales PitchSales Pitch
Hands-on & funHands-on & fun Work anywhere in the worldWork anywhere in the world Intelligent: new technologyIntelligent: new technology Most respected & popular tradeMost respected & popular trade Well paid careerWell paid career Work insideWork inside Exciting (dangerous?)Exciting (dangerous?)
Manitoba Hydro Career:Manitoba Hydro Career:Sales PitchSales Pitch
Career Variety: Several Careers in One Career Variety: Several Careers in One Impact Future World IssuesImpact Future World Issues
-powering economic growth with -powering economic growth with sustainability & environmental sustainability & environmental protectionprotection
Manitoba Hydro International Manitoba Hydro International – – work the world work the world
Quality of work life balance Quality of work life balance - flexible work cycle – time off, etc.- flexible work cycle – time off, etc.
Leader in diverse work environmentLeader in diverse work environment Above average pay scaleAbove average pay scale
The Anatomy of The Anatomy of InnovationInnovation
Att
itud
e t
o t
he A
ctiv
ity
Att
itud
e t
o t
he A
ctiv
ity
Pess
imis
mPess
imis
mO
pti
mis
mO
pti
mis
m
Weeks or Months Up to Two Years
Existing business is suffering
Skeptical
Enthusiasm
Brass band and fireworks
This is taking time
Results aren’t visible
Is it worth it?
The DarkNight of theInnovator
Start to see payoffs
Maybe not a bad idea
It works
Innovation & SuccessInnovation & Success
Customer FocusedCustomer Focused Creating Sustainable Competitive Creating Sustainable Competitive
AdvantagesAdvantages Continuous ImprovementContinuous Improvement Dynamic LeadershipDynamic Leadership Strong PartnershipsStrong Partnerships Process DrivenProcess Driven Creating Learning Organizations...Creating Learning Organizations...
In The Future…In The Future…
We’ll All BeWe’ll All BeLLearnearning A Livinging A Living
The Future of Real Estate: Issues?The Future of Real Estate: Issues?
Macroeconomy? Good or Bad?Macroeconomy? Good or Bad? Baby Boomer Choices? Rural? City?Baby Boomer Choices? Rural? City? New Technologies? Key ones to test?New Technologies? Key ones to test? Changing Homes? What’s next?Changing Homes? What’s next? Changing Competition: Strategies?Changing Competition: Strategies? Changing the profession? Strategies?Changing the profession? Strategies? Utilizing social media effectively?Utilizing social media effectively? Other Issues?Other Issues?
Afternoon SessionAfternoon Session
Improving Future SuccessImproving Future Success
1.1. Profiting from Change Profiting from Change Trend Analysis – Future IssuesTrend Analysis – Future Issues
2.2. Meeting Client Lifestyle Needs Meeting Client Lifestyle Needs Better Benefit StrategiesBetter Benefit Strategies
3.3. Improving Marketing & Sales Improving Marketing & Sales Performance: Performance: Tools for SuccessTools for Success
The Information AgeThe Information Age
• An Era of Maximum Change…An Era of Maximum Change…
• Change Causes Stress…Change Causes Stress…
• More opportunities than ever More opportunities than ever before for small business…before for small business…
New strategies!New strategies!New Skills!New Skills!
Future of Real Estate:Future of Real Estate:Big IssuesBig Issues
The future of the world economy? Bubbles? The future of the world economy? Bubbles? Canada? The future of housing?Canada? The future of housing?
Changing needs? Smart Cities? Green Living? Changing needs? Smart Cities? Green Living? Do customers want it? Do they pay? Is there a Do customers want it? Do they pay? Is there a shift from 2shift from 2ndnd homes to a dream lifestyle? homes to a dream lifestyle?
The competitive environment? How to better The competitive environment? How to better satisfy customers? How to support a higher satisfy customers? How to support a higher price for services?price for services?
Are success strategies changing? New Are success strategies changing? New strategies which may work better in future?strategies which may work better in future?
Information OverloadInformation Overload
24/7 communication access24/7 communication accessInfo attacks us everywhere and Info attacks us everywhere and
anywhere anywhere +4,000 ad messages / day+4,000 ad messages / dayMarketing & Sales Messages Marketing & Sales Messages must be Focused & Simple…must be Focused & Simple…
Let’s Plan a CruiseLet’s Plan a Cruise
What need should we focus What need should we focus on?on?
What would our dining room What would our dining room look like?look like?
FeaturesFeatures Any characteristic of a product Any characteristic of a product
or serviceor service
BenefitsBenefits The need(s) a feature meetsThe need(s) a feature meets Customers are attracted to Customers are attracted to
need satisfaction – need satisfaction – BenefitsBenefits!! Why choose one over another?Why choose one over another?
BETTER BENEFITS!BETTER BENEFITS!
4th Dimension Planning4th Dimension Planning
1) Trends1) Trends Needs that are growingNeeds that are growing
2) Customer2) Customer Target groupsTarget groups Need priorities and benefits soughtNeed priorities and benefits sought
3) Competitive3) Competitive Identify other ways needs can be metIdentify other ways needs can be met Identify Your Better Benefit Identify Your Better Benefit
Keys to Planning SuccessKeys to Planning Success
4th Dimension Planning4th Dimension Planning
4) Internal Analysis4) Internal Analysis Your vision & goals? Your vision & goals? Capabilities? Resources?Capabilities? Resources? What needs to be put in place to What needs to be put in place to
deliver the Better Benefit? deliver the Better Benefit?
Steps to Effective PlanningSteps to Effective Planning
Brainstorm all needs you could cater to… Brainstorm all needs you could cater to… as long a list as possible since often as long a list as possible since often innovative ideas come from combining innovative ideas come from combining needs or stacking on additional needs needs or stacking on additional needs
For each need listed, examine trends – For each need listed, examine trends – which needs are growing – where will we which needs are growing – where will we focus?focus?
For each need priority listed, what would For each need priority listed, what would the various target groups be who care the various target groups be who care most about that need being satisfied?most about that need being satisfied?
For each Target Group, what better For each Target Group, what better benefit story is most relevant?benefit story is most relevant?
For your organization, what needs to For your organization, what needs to change to be more effective?change to be more effective?
Better Benefits:Better Benefits: Reflect a better way of satisfying a Reflect a better way of satisfying a
customer need prioritycustomer need priority Are the keys to establishing Are the keys to establishing
brandingbranding Should reflect the overall Should reflect the overall
organization, but may vary by type organization, but may vary by type of service or client of service or client
Individually, are the route to career Individually, are the route to career successsuccess
Every business owner has Every business owner has more than one business…more than one business…
Marketing dollars are better Marketing dollars are better spent the narrower the niche spent the narrower the niche you targetyou target
Every business has many table Every business has many table legs to consider – with the legs to consider – with the potential for separate potential for separate marketing approaches for eachmarketing approaches for each
Rifle Shots vs. ShotgunRifle Shots vs. Shotgun
A key success factor for the A key success factor for the future in all industries is the future in all industries is the ability to serve more than one ability to serve more than one target customer using separate target customer using separate marketing strategiesmarketing strategies
Leads to the question of focusLeads to the question of focus (managing your tabletop)(managing your tabletop)
Higher Prices Higher Prices – –
Higher ProfitsHigher Profits Better benefits support higher Better benefits support higher
prices and better marginsprices and better margins Commodities lack better benefitsCommodities lack better benefits Remember the 2 of 3 rule re. Remember the 2 of 3 rule re.
quality, speed and lowest pricequality, speed and lowest price Battle scope creep with clear Battle scope creep with clear
communication conduitscommunication conduits
Effective Pricing StrategyEffective Pricing Strategy
Are you establishing price based on Are you establishing price based on cost-plus formulas?cost-plus formulas?
OROR Are you establishing price based on Are you establishing price based on
what the market will bear? what the market will bear? Start with the customer range of prices Start with the customer range of prices
and look to compare where the product and look to compare where the product fits in on a better-benefit basis – often, fits in on a better-benefit basis – often, margins can be improvedmargins can be improved
Strategy for $$$$$Strategy for $$$$$Moving from lowest price to providing Moving from lowest price to providing added-value ?added-value ?¤Requires focused better benefit Requires focused better benefit
strategiesstrategies¤Involves providing specific Involves providing specific high-priority need satisfiers better than high-priority need satisfiers better than
competition… andcompetition… and proving it over time… your buying proving it over time… your buying
“story” should reflect this“story” should reflect thisOften involves alliances to achieveOften involves alliances to achieve
What Are a Home’s What Are a Home’s Benefit ThemesBenefit Themes??
Safety, security, peace of mindSafety, security, peace of mind Convenience? Travel time to work, school, Convenience? Travel time to work, school,
interests?interests? Active, healthy lifestyle?Active, healthy lifestyle? Connection-to-nature lifestyle? Outdoor living? Connection-to-nature lifestyle? Outdoor living? Serenity? Peace? Spiritual need? (magic sunsets)Serenity? Peace? Spiritual need? (magic sunsets) Aesthetics? Reflecting a certain style/lifestyle?Aesthetics? Reflecting a certain style/lifestyle? Better community experience? For what Better community experience? For what
community? (golf, skiing, other activity? community? (golf, skiing, other activity? Attitude? Ethnic group? Work group? Telework?)Attitude? Ethnic group? Work group? Telework?)
Elegance? Success? Exclusive to a certain class? Elegance? Success? Exclusive to a certain class? Multi-generational sharing? Multi-generational sharing? Handling special needs? Aging? Health issues?Handling special needs? Aging? Health issues? Better by family style? Singles? Aging?Better by family style? Singles? Aging?
Think of Housing AdsThink of Housing Ads
Can you identify a feature-Can you identify a feature-driven ad you could change to driven ad you could change to a better-benefit driven ad?a better-benefit driven ad?
Share examples with your Share examples with your neighbour neighbour
Share best ones with us all?Share best ones with us all?
Key to Sales SuccessKey to Sales Success
Trust?? Trust?? To a customer, a good sales To a customer, a good sales
transaction is based on their transaction is based on their perception of whether:perception of whether:
The salesperson’s #1 priority is to The salesperson’s #1 priority is to put money in his/her own pocket or put money in his/her own pocket or truly to meet customer needs?truly to meet customer needs?
High vs. Low-Involvement High vs. Low-Involvement Buying processBuying process
For low risk/involvement purchases, a simple For low risk/involvement purchases, a simple better benefit message is effectivebetter benefit message is effective
For higher risk/involvement purchases For higher risk/involvement purchases (a home), client seeks information and (a home), client seeks information and compare own need priorities for at least three compare own need priorities for at least three different options different options
A good salesperson’s role is to help clients A good salesperson’s role is to help clients develop their “chart” - and then help them develop their “chart” - and then help them evaluate optionsevaluate options
After-sale anxiety (second guessing) must be After-sale anxiety (second guessing) must be dealt with if relationship is to thrivedealt with if relationship is to thrive
The New-EconomyThe New-EconomySales ProcessSales Process
Prepare questions to qualify need Prepare questions to qualify need prioritiespriorities
Partner with client to review need Partner with client to review need satisfiers focusing on action plan to satisfiers focusing on action plan to achieve goalsachieve goals
Establish ongoing communication Establish ongoing communication and future interventionsand future interventions
Client-PartneredClient-Partnered Selling Process Selling Process
Introductions & chit-chatIntroductions & chit-chat Clarify overall brand promiseClarify overall brand promise Questions to determine specific need Questions to determine specific need
prioritiespriorities Present “better benefit stories” matched Present “better benefit stories” matched
to needs identifiedto needs identified Answer ObjectionsAnswer Objections Close the SaleClose the Sale After-sales follow-up to improve brand After-sales follow-up to improve brand
promise / word-of mouthpromise / word-of mouth
Questions to Determine Questions to Determine Need Priorities?Need Priorities?
Are their good ones that you Are their good ones that you use to better determine use to better determine customized client need customized client need priorities?priorities?
This is a future strength of your This is a future strength of your network…network…
Share good questions?Share good questions?
Toughest Client Toughest Client Objections?Objections?
There are only five types to There are only five types to prepare for...prepare for...
What are best ways to What are best ways to answer these objections?answer these objections?
Types of ObjectionsTypes of Objections Need – don’t need; or can’t believe Need – don’t need; or can’t believe
need can be satisfied betterneed can be satisfied better Source – Company or peopleSource – Company or people Time – Not right timeTime – Not right time Price – Too high, or too lowPrice – Too high, or too low After-sale Follow-up – After-sale Follow-up –
Implementation / Training / Implementation / Training / Support / Problem-solving / Support / Problem-solving / Delivery / Performance TrackingDelivery / Performance Tracking
Marketing RealitiesMarketing Realities
Very expensive to market direct to Very expensive to market direct to consumerconsumer
Need to stimulate future purchasesNeed to stimulate future purchases (loyalty programs/viral marketing)(loyalty programs/viral marketing) Strategy is to get key influencers Strategy is to get key influencers
to recommend providerto recommend provider In the age of information overload, In the age of information overload,
simplicity and repetition is simplicity and repetition is essential – branding is keyessential – branding is key
What is a Brand Promise?What is a Brand Promise?
A promise of better benefits A promise of better benefits
consistently delivered with consistently delivered with
the highest level of the highest level of
satisfaction versus direct and satisfaction versus direct and
indirect competitorsindirect competitors
Peace of Mind - Long track record of Peace of Mind - Long track record of meeting needs successfullymeeting needs successfully
““Helping You is What we Do” - better Helping You is What we Do” - better need matching with local knowledge and need matching with local knowledge and a focus on customers for a lifetimea focus on customers for a lifetime
Canadian owned with real impact on local Canadian owned with real impact on local community (Ex: Shelter Foundation)community (Ex: Shelter Foundation)
Culture of open/sharing/support/familyCulture of open/sharing/support/family
Delivering on Delivering on Brand PromiseBrand Promise
Understanding (of customer needs)Understanding (of customer needs) Identification (of competition)Identification (of competition) Planning (an integrated effort)Planning (an integrated effort) Learning (what actions work/don’t work)Learning (what actions work/don’t work) Delivering (as promised!)Delivering (as promised!) Evaluating (and measuring)Evaluating (and measuring) Improving (and continuing cycle)Improving (and continuing cycle) SOCIAL MEDIA SUPPORTS THESE STEPSSOCIAL MEDIA SUPPORTS THESE STEPS
-connects people to communities efficiently-connects people to communities efficiently -brand is the sum of conversations re. you-brand is the sum of conversations re. you
-listening & responding & promoting story-listening & responding & promoting story
Branding SuccessBranding Success
1) An ad that is 1) An ad that is “pretty”“pretty”
Stands outStands out
Attracts interestAttracts interest
MemorableMemorable
2) An ad with a 2) An ad with a “message”“message”
Two ComponentsTwo Components
Marketing/BrandingMarketing/Branding Success Success
Positioning MessagePositioning Message (Better Benefit Message)(Better Benefit Message)
Organization/productOrganization/product is the is the who/what you arewho/what you are that offers that offers better benefit(s)better benefit(s)
Sales SuccessSales Success Ability to combine a clear better promise Ability to combine a clear better promise
reflecting individual client need prioritiesreflecting individual client need prioritiesWITH…WITH…
A A “story”“story” to prove the promise can be to prove the promise can be delivereddelivered
- unique skills /process- unique skills /process- client experience - client experience - performance / quality - performance / quality - unique relationship- unique relationship
Agent Better Benefit PitchesAgent Better Benefit Pitches??
Relationship: low-stress, ease, speed, Relationship: low-stress, ease, speed, convenience, low price (lending options)convenience, low price (lending options)
Identification of needs of clientIdentification of needs of client Finding suitable homes to buyFinding suitable homes to buy Finding suitable buyers effectively (mkting)Finding suitable buyers effectively (mkting) Getting a better sale price (staging, etc.) Getting a better sale price (staging, etc.) Better peace of mind –risk assuranceBetter peace of mind –risk assurance Better impact on community – valuesBetter impact on community – values Better meeting specific needs (property type)Better meeting specific needs (property type) Better long-term relationshipBetter long-term relationship ANYONE Like to SHARE GOOD ONES?ANYONE Like to SHARE GOOD ONES?
The EntrepreneurThe Entrepreneur
Improving leadershipImproving leadership
… … and management…and management…
… … and teamsand teams
How Should You How Should You Spend Your Time?Spend Your Time?
What % of Time Now vs. Future?What % of Time Now vs. Future?
Operational/deliveryOperational/delivery ____ ________ ____ Organizational/HROrganizational/HR ____ ________ ____ TechnicalTechnical ____ ________ ____ FinancialFinancial ____ ________ ____ Marketing & SalesMarketing & Sales ____ ________ ____ Research & Dev’tResearch & Dev’t ____ ________ ____ Process Improv’tProcess Improv’t ____ ________ ____ VisioningVisioning ____ ________ ____
Stages to Effective Stages to Effective DelegationDelegation
Establish joint goals and quality Establish joint goals and quality standardsstandards
Gut-check skills required and Gut-check skills required and provide supportsprovide supports
Be clear on decision-making Be clear on decision-making boundariesboundaries
Baby steps & check-backs, Baby steps & check-backs, celebrating wins and “giving it up celebrating wins and “giving it up over time”over time”
Jim [email protected] 92
Keys to Employee RetentionKeys to Employee Retention
Culture of respect and thanksCulture of respect and thanks Quality direct supervision Quality direct supervision Granting other priorities - family Granting other priorities - family
time - flex work timetime - flex work time Team-based culture - funTeam-based culture - fun Rewards for measured successRewards for measured success Clear vision matched to need Clear vision matched to need
prioritiespriorities Creative stimulationCreative stimulation Individual impact – local & worldIndividual impact – local & world
Leadership and ValuesLeadership and Values
Remember that organizational Remember that organizational values drive behavioursvalues drive behaviours
Values reflect the culture and are Values reflect the culture and are transferred from the toptransferred from the top
(walking the talk)(walking the talk) What are your values in relation to What are your values in relation to
the stakeholders you interact with?the stakeholders you interact with?
LeadershipLeadership
Common goals are key for team success Common goals are key for team success (managers change from cop to coach; (managers change from cop to coach; need to align goals of the organization need to align goals of the organization with those of each department with with those of each department with those of the individual)those of the individual)
Change Planning involves identifying Change Planning involves identifying bothboth the positives and negatives the positives and negatives
Involve people in the process Involve people in the process Ego-less Management…supporting the Ego-less Management…supporting the
stressed and stressing the positive…stressed and stressing the positive…
Customer ServiceCustomer ServiceSatisfactionSatisfaction
CollaborativeCollaborative Showing EmpathyShowing Empathy Focus on customer need prioritiesFocus on customer need priorities Partner to solve needs/solutionsPartner to solve needs/solutions Prepare for objections – Price, Prepare for objections – Price,
Time, Source, Follow-up, NeedTime, Source, Follow-up, Need Keep promises or apologizeKeep promises or apologize Surprise and delightSurprise and delight
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