Our newest challenge is to meet this variance in demands by addressing each group’s respective communication and service preferences using both traditional and electronic channels.

Using Technology

According to Harvard Business Review of May 2010, Millenials (the youngest segment of our generation) are emerging as a significant section of our work force and consumer segment.

In order to connect with this large buying segment, using electronic communication and web services will be crucial to engage today’s faceted consumer, but using the channel of their own preferences to connect.

According to studies by Futures Consulting, the four generations representing these age groups are:

Civic: 62+
Boomer: 43-61
GenXer: 31-42
GenY/Millenial: 13-30

In order to engage with each group, we must deliver their brand of better service, using the technology channels they prefer to insure connection and ultimately conversion.

Servicing These Consumers

• Starting with the oldest group, civic consumers have always demanded respect, especially from younger service providers. To create a superior real estate experience that resonates with Civic consumers, we must infuse respect; from the language we use, to our style of dress, how we communicate with them and every aspect in between. Agents who master the “respect factor” with civics stand to gain significant competitive advantage. For this group, personal communication is often preferred, and technology plays a lesser role in meeting their service requirements.

• Baby boomers value a “winnable” experience; to overcome obstacles and feel as though they conquered and won. Agents who can promise and deliver a victory, like finding the property of their dreams and the best financing demonstrate they “speak their language”. This approach helps support and develop long lasting, profitable relationships with Boomers.

• The youngest two generations of consumers (GenX/Y) dominate the first-time buyer market. There are several factors that are important for agents to demonstrate, primarily that they “speak Gen X and Gen Y.”

Studies show that with Xers, agents must demonstrate to these consumers the “Home Depot” approach, telling these consumers at every turn, “Yes, you can do this, but we can help.” They have no interest in being told what to do, but will engage when asked to participate.

Texting and social media channels have eclipsed email as their preferred communication tool, with technology being tremendously important means of communication to both groups.

If you want to play with these young consumers, agents must use high tech platforms, interactive blogs, intranet portals and tech tools to facilitate the transaction. Speaking “high “tech” is often a pass for admission to connect with this age segment.

Here are a few examples that will help communicate with these generational groups:

1) For younger generations, look for communication models that deliver information 24/7. Employ platforms like QR Codes (Quick Response), and text number riders on signs to offer immediate information and connection for this crowd. Don’t overlook the use of traditional brochure boxes as an alternate, but make the boxes work for you by including electronic options on the paperwork for additional resource information. Consider using multiple options for multiple age groups.

2) Engage and participate online using blog posts and social media channels to position yourself as a resource, especially if you specialize in a given service vertical. Specialization enhances interest, like short sales, first time buyers, retirement communities, and government financing just to name a few. You are more likely to get higher response results with specificity. Post tips that offer valuable insight into the buying and selling process without selling to gain trust and create community.

3) Video is a terrific way to demonstrate expertise. Develop a weekly videozine to answer the most often asked questions from your prospects. Video has never been easier with the latest digital video cameras and easy uploads to Facebook and YouTube. Be sure your audio quality is good, and your content relevant. (Kodak PlayTouch Video Camera has easy uploads to social media channels)

4) Respond to all inquiries, using the means that best suits their needs. Once you are using various platforms to communicate, it is important to respond to all comments in a quick time frame.

Think “strategic communications” to target and focus on the specific generational styles. Take advantage of the technological tools, programs and systems available and you will appeal to all age groups wanting to buy and sell properties….everybody wins!

See more results when you recognize and respond to these specific needs and wants of any prospective customer, to guarantee profitable results.

For a short video on generational dynamics, visit: http://www.terrimurphy.com/video-blog/

Terri Murphy is President of Terri Murphy Communications, Inc, and is a communication and e-marketing specialist and social media consultant. For more information visit: www.TerriMurphy.com or email: Terri@TerriMurphy.com

Copyright©2010 All Rights Reserved

Dr. Tony Alessandra

www.Alessandra.com

www.PlatinumRule.com

Prosperity Series Memphis Featured Sales Expert

What an amazing evening!  Below are photos from the event…

Nido Qubein & Don Hutson

 Networking

 Marguirete Piazza and Nido Qubein

 Marguirete Piazza and Shirley Condon

  Networking

What can you do differently than you have been doing?  Are you relying on the same old things, systems, and habits…. or even more concerning, doing the same things your competitors are doing?

Today’s savvy consumer knows what they want, and are not willing to pay for services that do not meet their need. The largest buying segment of housing is GenX, and they are especially good at finding another professional who is willing to do it “their way” and fast!

So, how about tune up for your presentation program?  Whether you are presenting to a buyer or seller, creativity, expertise and delivery will boost or beat your chances.

Here are 3 key tips on how to fine tune your connection:

1) Speed of Response:   How fast are you responding to your lead requests?  If you don’t have systems in place to respond in a nano-second, your prospects are moving on to the next agent who does have a method to  respond  in real time with targeted information …and that is what it takes to make a first WOW impression!

2) When you are meeting face to face, have you revamped how you personally “go to market”?  Are you “market” presentable? Are you fully focused on your client? Have you anticipated their every need?

Before your meeting, are you equipped with a with deep needs analysis pre-written questionnaire that demonstrates you are prepared, interested and focused to authentically discover and fulfill their real objectives? 

Unfortunately, this is an area where many of us have slacked off. Having left a fast and furious marketplace, we didn’t have the luxury of time or the need to build trust bridges with our prospects. 

A slower market is loaded with multiple opportunities to engage, connect and earn the right to provide our services to those in need and a great time to demonstrate strong differentiation from our competitors.  As an example, if you are still running a paper CMA from your local MLS and showing up with a worn out one size fits all presentation, you might need to start looking for another job! 

NAR reports that in 2009 that 34% of the properties sold were purchased by GenX. Translated that means they are driven by their own core values and preferences.  Those preferences include real time response, deep expertise and real accountability.   Think about investing some time in a marketing makeover and don’t wait another minute to re-design how you go to market while you still can! NAR’s Learning Library offers some free and almost free online webinars to help you do just that.  Check them out at: (http://budurl.com/MurphyMktgMakeover)

 3) Get rid of the old tools and get good with the NEW ones!   You are right to be confused, frustrated and downright stubborn about trying to figure out what’s in what’s out/what’s hot and what is not, but that is no excuse. 

You might be able to connect with prospects, but keeping all the updates consistent and valuable takes help from techno tools.  Set aside some time or ask the experts what tools are recommended to help you service 24/7 without working all those hours.  

Learn how virtual tours like OBEO.com will do the reporting on activity to the seller automagically for you and engage an interested prospect with interactivity on the tour. 

Your time is your money, so employing automated, customized drip systems that offer opt-in/opt-out options integrated with your IDX information is the only way to provide real time information as it is listed to prospective buyers or sellers considering to market their home. 

NAR reports that approximately 98.9% of prospects search for properties on the Internet BEFORE engaging an agent. Surprisingly only 60% of agents even have a website!  Do the basics, but do them right. Get a full web marketing website that does the work for you. Check out  http://www.realprosystems.com/  and get the whole enchilada:  Podcasts, blogs, drip systems, automated campaigns, back end training and the list goes on.  You can’t afford to be the jack of all trades, so figure out what systems can best support your goals and go for the gold. 

We’ve heard if you keep on doing what you’ve always done, you’ll keep on getting what you’ve always gotten…and that’s just not true anymore!  We know we can no longer do what we’ve always done to even stay even with what we’ve generated in the past!   If you are truly serious about making money by leveraging your time and expertise, get with the program.   Very few customers or clients say I don’t want to work with that professional because they are too good at what they do, too eager to help me get exactly what I want and too much of an expert at their craft….just ask them!

Bio: Terri Murphy, Communication specialist is an author, speaker, communication consultant, and author of 5 books, including her latest with Donald Trump. She is the founder and Pres. of WomensWisdomNetwork.com and serves as CIO of U. S. Learning in Memphis and one of NAR’s GAME CHANGER 2010 Coaches. Email: Terri@TerriMurphy.com – And for more webinar resources visit: http://budurl.com/NARFREEWebinars

Social Media:

www.Facebook.com/TerriMurphy

www.Linkedin.com/in/TerriMurphyCommunications

www.Twitter.com/TerriMurphy

iLearningGlobal is pleased to announce Don Hutson as the featured faculty speaker
on this week’s Millionaire Mentor Session.

Please join us on
Saturday, February 6th
9am  PST

Hear Don Hutson speak on:
“Turning Your Stress Into Strength In Challenging Times” 

Dial In Details: 
Dial In:
646/519/5830

Access code:
7244

Don Hutson’s career in speaking, management and sales have brought him many honors.
He successfully worked his way through the University of Memphis, graduating with a degree in Sales.

After becoming the #1 salesperson in a national training organization, he established his own
training firm and shortly thereafter was in demand as a professional speaker. 

 Today Don’s client list includes over two-thirds of the Fortune 500 Companies, and he is
featured in over 100 training films. He is Chairman & CEO of U.S. Learning and makes some
75 speaking appearances per year.  Perhaps you have seen him on national television where
he is regularly featured on both PBS and TSTN.

Don is the author of nine books including the New York Times bestseller,
The One Minute Entrepreneur which he co-authored with Ken Blanchard.
Don is a member of the prestigious Speakers Roundtable. He was elected by his
peers to the presidency of the National Speakers Association, and has received
its coveted “Cavett Award,” as member of the year. He has also been
inducted into NSA’s Speakers Hall of Fame. 

Visit Don Hutson’s website at http://www.DonHutson.com

We look forward to having you on the call!

Details:
When: Saturday, February 6th, 9am PST
Dial in: 646/519/5830
Access code: 7244

Before you go with “scarcity thinking”, expert Harvey MacKay gives us 66 creative and meaningful ways to connect with even the most elusive prospects.

MacKay is the bestselling author of “Swim with the Sharks Without Being Eaten Alive”. He says, “Anyone can get the order if he’s willing to stretch the truth far enough. Whether you tell the truth or not, you don’t come out a winner just by getting the first big order. The mark of the pro is to get the RE-Order!”  That said, ask yourself these questions:

What am I willing to do to connect with a prospective client? (Or do I quit after a few attempts?)

Am I just trying to get another sale, or are their ways I can make an investment in a long term relationship?

In order to differentiate my service offering, by adding more value for this prospect by doing business with me?

A great lesson from MacKay’s book is found in Lesson #3 – He says, “Knowing something about your customer is just as important as knowing everything about you or your product”.

 MacKay was so passionate about wanting to know all he could about his customers; he is famous for developing his MacKay “66” question profile for each of his sales people to fill out on their customers. He is adamant that when we know more about our customer, we enjoy a huge advantage when they know we care about them, their needs and ultimately then we have earned the right to work with them.

All too often we fail the first step many high paid coaches, consultants and top performers knows and teaches:  Do a deep and thorough needs analysis of what THEY want, and not what you HAVE.  But first you have to get the appointment and be willing to accept the challenge of winning their business.

Asking questions and then clarifying the answers is one of the most powerful ways to establish confidence and begin building a bridge of trust between you and your prospect.  They want to know that you know not only what they want, but most importantly, why they want it. It is only when you act as their sales leader that you can help them determine what the appropriate solutions to their needs will actually be.  

Many times we approach our buyers and sellers with a barrage of self-serving information about our experience, tout top testimonials and are convinced that WE are the answer to their needs, when in fact, that may not be the case at all!  Regardless of your outstanding sales volume, negotiating acumen and years of experience, if they need a sales person who can speak Vietnamese, you may not be their best choice! 

The battle cry for successful sales that will never go out of style – RELATIONSHIP selling is the key to more sales. Ask well thought out questions, be a skilled active listener, and craft solutions with your prospects for best results.  You may not subscribe to doing a MacKay “66”, but knowing all the facts, motivations, limitations and best solutions for your customer will pave the way to create raving fans and endless referrals.

Bio: Terri Murphy is a speaker, communication consultant, and author of 5 books, including her latest with Donald Trump. She is the founder and Pres. of WomensWisdomNetwork.com and serves as CIO of U. S. Learning in Memphis.  email: Terri@TerriMurphy.com – for more information on the MacKay “66” visit http://www.harveymackay.com/tools/index.cfm

Lets Connect At:

www.LinkedIn.com/in/TerriMurphyCommunications
www.Facebook.com/TerriMurphy
www.Twitter.com/TerriMurphy