Color - A Lesson Worth Learning

Smart marketers know the power of color. More difficult, is knowing how to utilize color to create the right impact.

I came across a fabulous tool today from journalism site Poynter.org that vividly and interactively demonstrates color theory and how to use it effectively through examples and exercises. (What this means is, you get to play!) I learned about the power of color, creating impact, after effects, how colors react when surrounded by others, and a plethora of other useful and interesting
information. I even got to design a number of my own pages, and see how different color pairings affect overall mood and impact.

Time to get busy and learn something. For your own color mood and meaning lesson, click here.

How Much Is Too Much?

Last summer, I ordered Omaha Steaks for my dad, (Sales Guy Extraordinaire), for Father’s day. He loved it, and if I do say so myself, it was an excellent gift, the kind that keeps giving for a while. When I ordered, I must have inadvertently missed the uncheck button to receive “future offers and updates” - you all know what I am talking about here.

Within days, they started coming...and have never stopped. Since November, I have tried to save almost every offer received. (There are so many, I have a problem keeping it all organized). Omaha Steaks has worked very hard to stay in front of me. A little too hard. I ordered their product once, in June, and have not established myself as a regular. At this point, presumably due to the holiday season, I am receiving, on average, at least one email per day, up from the average of one every three days in September, October and November. (There is a noticeable gap in October - I may have deleted them, and I did go through an unsubscribe phase about that time...but don’t want to proclaim, if I’m not sure I did.)

Anyway, I get an awful lot of “buy meat” mail. Trouble is, the more they “get in my face”, the more distasteful steak has become to me. It’s just too much. I’m tired of seeing my daily “Act now before it’s too late!” promotion. I have no sense of urgency to buy, because I am pretty sure I’ll have an equally impressive offer in my box tomorrow. Have they no other customers? Why won’t they give it a rest? To stay top of mind with me doesn’t mean you have to send me a new email every single day.

Where’s the mail that asks, “Have you been seeing too much of us? Should we back off a bit?” That’s the one I would reply to. I have no objection to receiving a monthly promotion from Omaha Steaks. I like their product. It is not, however my priority or my life.

The same holds true for follow up. There is a fine line between obnoxious and committed care on the part of the leasing professional. When we lose sight of the client and concern ourselves more with “getting the sale”, is true intention revealed to the customer and serving as a turn-off to the product?

The answer, of course is letting the customer, as much as possible, decide and control their experience. That’s hard to deliver when you’re being evaluated based on parameters and specific follow up metrics; contact within 24 hours, within 48 hours phone call, etc.

How much is too much? And how do we define that? How do we provide parameters while still understanding there is no one path to the sale? I don’t think it is enough to say, “I keep calling or emailing until they tell me to stop.” I am going to tell Omaha Steaks to stop, but the damage has already been done. Once viewed as a special treat, premium product, I now simply see another blue light special. Lots of caps, lots of exclamation points, lots of “only 10 minutes left” behavior. It all seems a bit desperate.

What do you think?

Involving Residents In Your Worth Cause

Many companies contribute to charitable causes and the greater good, and some (wisely) share their philanthropic endeavors with their clients. But why stop there?

In The Buying Brain, Secrets for Selling to the Subconscious Mind, (yes I did like this book as this is my second post referencing it ), Dr. A.K. Pradeep notes that coupons that include an act of charity can produce a significant rise in Purchase Intent and self worth. In one study, consumers were asked to choose one of four deserving causes to receive a percentage of what they spent. This simple gesture resulted in a huge increase in emotional engagement and higher Deep Subconscious response scores for words relating to the “pleasure” or “satisfaction” associated with the shopping experience.

Contributing to charitable causes in a way that includes residents is an easily adaptable concept at the on-site level. For example, perhaps a community selects three charities, (since the business is multifamily, possibilities might include Habitat for Humanity, a local homeless or transitional shelter and other causes that relate to housing or “get back on your feet” support - make sure to run your selections by HR), and determines a percentage of the first month of resident’s rent that will be donated to the selected charity. When the resident renews their lease, (or signs the initial lease), they are asked to select which organization they would like the money to go to - they get to control it. If they say, “None - can you just reduce my rent?” (which they most likely won’t if presented effectively), you can politely decline and re-emphasize that the rent is the rent, however XYZ Apartments is committed to donating a percentage of that rent to a charitable organization that helps those less fortunate and we let our residents choose which of the three charities they would like it contributed to.

A program like this is broad enough to encompass point of initial sale and resale (renewal) strategies. Community charitable donations might be tracked on the website, Facebook page, clubhouse visuals, etc. Even better, expand the program and provide opportunities for residents to volunteer at these causes. The possibilities are endless...and all good.

What does your company or community do for the greater good? Do you let your residents know? Do you involve them in the process?

Strolling Musicians, Daring Cliff Divers and Exciting Gunfights

If you're a Denver native (rare, but possible), then you've been to Casa Bonita. Or at the very least, you've heard of it and heard the tales. If you're not from Denver, Google it. Better yet, Google Images it. Infamous even on South Park. (fast forward to the -3:00 mark)

Every city has a "Casa Bonita" kind of place. And every city has older apartment communities known to anyone over the age of 35. Kind of like a local six degrees of separation. "Oh, you're from Tulsa? I bet you knew someone who lived at _________." {wide eyes and lingering tone}

A branding spectacle, and from what I've heard, a cash cow during peak seasons. Let us all marvel at their shameless, self-satire and unapologetic acceptance of their brand.

Before I die, I have to find a Marketing Director or Developer who will let me design an apartment brochure version of the Casa Bonita menu, it's brilliant.

images via Artifacting

I Love That Color!

Ever wish you could paint your model walls the same shade you saw in that trendy boutique you were in last week? Or perhaps you saw a specific color you like and want to coordinate paint offerings with it? According to Trendcentral - there’s now an App for that!
Take a photo of anything that provides inspiration and this app will instantly match the hues in the photo to the corresponding shades in the Benjamin Moore color system. Match your uniform colors to the paint on the wall! Go to the hippest places and copy paint colors! Take a picture of a model accessory and find a paint to match! Match marketing materials to the paint on the wall! The possibilities are endless, and only an app away.

Bad Design Is Like a Comb-Over

Great design is powerful. It gives the consumer an attractive first impression that will help facilitate an interaction, at which point they begin developing a perception and emotional connection with your brand. If they have good experiences, they will stay, and ultimately return when future need arises. Great design conveys quality, freshness and durability.

Bad design, on the other hand, is like a comb-over. It’s an attempt to “make do”. Everyone notices, and perception is diminished, but nobody will comment on just how bad it is.

In today’s marketplace, it is crucial to make the decision to care as much about how your product is presented as you do about the product itself. What does your branding message say about the quality you deliver? Do your models, signage, collateral and interactive offerings say “Sharp haircut!” or “ Oh…that’s bad”?

Remember to look in the mirror. Because when it comes to bad design, nobody is going to tell you just how bad it is.

Go Ahead. Touch It.

Science Daily recently published an informative article regarding the power touch has in influencing a consumer to buy an item, as well as its impact on enhanced perceived value.
http://www.sciencedaily.com/releases/2009/01/090107134535.htm
Turns out, the study, conducted by researchers from Ohio State University and Illinois State University revealed the longer an item is held, the more likely it will be purchased. Even more interesting, the longer held, the greater the perceived value. Essentially, the longer the test subject held an item, the more emotionally attached they became to it.

We marketers often reference the power of smell, sight and sound in enhancing the buyer experience. What we don’t reference as often, is the importance of touch in influencing consumer behavior. Car dealers, for example know that if you get in the car and drive it, you are more likely to buy it. Textile suppliers routinely hang sample linens in the sheet department so consumers can touch and experience what an elevated thread count means to comfort. And who hasn’t seen that cuddly soft teddy bear being pried from a tight fisted (and screaming) toddler who couldn’t resist touching in the department store?

One of my favorite leasing techniques on a hot summer day was to take the client to the pool and encourage them to touch the water. “Go ahead, touch it, “ I would say, “It feels wonderful.” And they would. Then they would smile. That is always a good sign in sales.

Touch screens and touch panels, from the Iphone to interactive leasing kiosks are all the rage, and a testament to increased “touch power”. Make sure to incorporate some “touch opportunities” into your presentations. Encourage the client to open cupboards and drawers. If the carpet is new, or the padding supreme, take off your shoes and feel the impact. Watch your client closely – are they touching things? If they are, they may be buying.

Branding Tug of War

Recently we were guiding a client (who shall remain nameless to protect the innocent) through a "mild" rebranding of their organization when we hit an unexpected snag. The kind of air pocket we only hit once or twice a year, but are surprised when we do. Within the heart of this company was a tug of war between the C-level executive team and the Operational leadership. Or, as they lay in bed at night trying to get to sleep, those who count dollar signs to get to sleep, and those who count vacate notices and open work requests.

Branding is a complicated, nebulous thing to begin with, and this post only scratches the surface. (let's meet for a beer for some stories) But in multifamily, this a critical lesson that has been well documented.

There are Stakeholder brand considerations, and there are End User brand considerations. Stakeholder brands are inherently B2B, and must convey return on investment, management acumen and capitalization. End user brands on the other hand are B2C, or customer facing. In asset management, we differentiate these brands with amenities, resident service, commitment to sustainable living, and other more "soft" attributes.

Which is more important? Neither. They're equally important. And we can represent both in a logo design or brand positioning statement. Which should win the branding tug of war? Easy. The End User brand. Here's why;

1. NOI is ultimately tied to the success of the End User brand more than the Stakeholder brand; and savvy owners know this.
2. Residents and prospective residents could care less about your strategic compass or mahogany conference table. They care how fast you'll fix their broken garbage disposal.
3. If your brand and identity look like you're a financial services company, you create a disconnect for your customer. Think: Wall Street.

Our clients who recognize this have higher occupancies, happier employees and set goals based on retention and overall satisfaction. The business goals always follow. As stakeholders, what do these clients do differently than the one who inspired this blog post?

They let the resident win.