I had the pleasure of hosting my father and mother-in-law for an extended period over the Thanksgiving holiday, and experienced first-hand some of the values and issues the "Greatest Generation" hold dear. Among other things, I was able to observe their cellphone use and how mobile devices and technology have impacted their lives.
First, my mother-in-law. She has a cellphone and uses it to contact friends and family while she is out of town. She has also learned to set the alarm and utilized this feature on a number of occasions. That's pretty much it.
Then there's Dad. Most of the time, he couldn't figure out how to get the phone to turn on, and when he did, he had a hard time getting a call to go through, so his answer was to turn it off. By his estimation, the 3 calls he made last month cost him over $10 each. Since he can't even turn the phone on, he has no use for any of its other features. He sees his cellphone as a nuisance his kids insist on, and not having one would bother him not at all.
Dad utilized the Internet daily to scour his hometown newspaper and check the weather, as well as his email. Mom never touched the computer. Didn't bother her one bit. Neither one of them felt comfortable checking in for their flights on line, and asked that I do it. Even when I did, I got the feeling they would have been more comfortable simply standing in line, as this seemed more real to them. Fair enough.
My first assumption was that it was simply the generation - that to reach the "Greatest Generation" a social media or mobile plan wouldn't be at the top of the marketing strategy list. Then, as I thought about it, "social" is exactly what this generation is. They like to talk, (alot), and they rely on friends to provide referrals for services. They are also opinionated, and quick to smell a rat.
The real social media, for them, is the bulletin board at the market - a myriad of services all vying for attention, most not very successful, and the weekly Kiwanis Club gathering, or corner cafe, where they can share their stories and opinions, make recommendations and "diss" the deserving. Very social, yet very far from Facebook.
The point is, if you focus your marketing efforts in one arena, simply to follow the herd or because that's the way you would search, you may be missing clients that would be an ideal fit for your community. Dad's looking for an apartment. He's not on Facebook or Twitter. How is he going to find you?
Wednesday, December 2, 2009
Monday, November 16, 2009
Burning Down The House
One of my favorite clients, Griffis Blessing out of Colorado Springs, recently had happen at one of their communities what many have experienced, and all dread - a building fire. I have been involved in the aftermath of more than a few building fires in my career, and let me tell you, there is nothing more heartbreaking than the complete devastation of hope on the faces of victims that didn't have the foresight to purchase renter's insurance, as they gaze at the burned out building that used to be home. It just breaks your heart. When I asked,"How many?" the regional immediately knew what I was referring to, and said, "Eight apartments were affected, and every one had renter's insurance." "All of them?" I asked. "We require it. They can't move in without it. They all had it."
Suddenly the tragedy, while devastating, was not nearly as profound.
If you don't mandate your residents purchase renter's insurance, you should. They may adhere kicking and screaming, but all it takes is one tragedy to drive the importance and value home.
Suddenly the tragedy, while devastating, was not nearly as profound.
If you don't mandate your residents purchase renter's insurance, you should. They may adhere kicking and screaming, but all it takes is one tragedy to drive the importance and value home.
Wednesday, November 4, 2009
Risk Versus Reward - Are You Smokin' Your Competitors?
Recently, I struck up a conversation at a football game with the mom beside me regarding holiday travel plans. Airline preference came up and she said, "We will only go Southwest. The bags are free."
I love Southwest Airline's free bag promotion. Talk about taking a standard industry revenue producing policy, and by eliminating it, creating a differentiator that generates huge market share. Not to mention, it makes their competitors look, well, really greedy. It's a beautiful thing, really.
As the continued race for occupancy escalates across the country, it would be prudent to sit down with your team and brainstorm ways to, rather than cheapen up your offering, set yourself apart from your competitors by differentiating yourself, through policy or positioning strategy. Where do you find yourself "following the pack" ? How can you shake it up a bit?
Take for example, pet policies, deposits and rent. What if you were the first in your market to do away with pet rent or pet deposits? I can hear the collective gasp now, but hear me out. Understandably, many communities make substantial revenue from pet fees. The question is, can you make more by positioning yourself differently? Based on current occupancy rates across the country, the answer may be yes, if you can fill additional apartments without giving away free rent, or fill what wouldn't have been filled under normal circumstances.
It's a different strategy, dependent on the community, market and economic drivers, and it definitely needs the right marketing campaign, but it has appeal. It's one of those ideas I have had for a while that just keeps staying with me, which usually means it has merit. If you decide to give it a go, let me know and I will assist the first five respondents in developing your marketing message for free.
I liken it to Dyson. After inventing his bagless vacuum cleaner, (and by the way, I covet mine), he tried to sell it to Hoover. They turned down the concept, with the rational that it wouldn't be worth losing the income from the vacuum cleaner bags.
Ten years later, more than half the vacuum cleaners sold in the UK were made by Dyson, and market share for Hoover had fallen 10 percent.
Conditions are ripe for innovation and an about-face in the way we market our products. Quit following the pack. Run your own direction and think about what today's renters will really respond to. Then try it. You might lose. Then again, like Southwest and Dyson, you might smoke 'em all.
I love Southwest Airline's free bag promotion. Talk about taking a standard industry revenue producing policy, and by eliminating it, creating a differentiator that generates huge market share. Not to mention, it makes their competitors look, well, really greedy. It's a beautiful thing, really.
As the continued race for occupancy escalates across the country, it would be prudent to sit down with your team and brainstorm ways to, rather than cheapen up your offering, set yourself apart from your competitors by differentiating yourself, through policy or positioning strategy. Where do you find yourself "following the pack" ? How can you shake it up a bit?
Take for example, pet policies, deposits and rent. What if you were the first in your market to do away with pet rent or pet deposits? I can hear the collective gasp now, but hear me out. Understandably, many communities make substantial revenue from pet fees. The question is, can you make more by positioning yourself differently? Based on current occupancy rates across the country, the answer may be yes, if you can fill additional apartments without giving away free rent, or fill what wouldn't have been filled under normal circumstances.
It's a different strategy, dependent on the community, market and economic drivers, and it definitely needs the right marketing campaign, but it has appeal. It's one of those ideas I have had for a while that just keeps staying with me, which usually means it has merit. If you decide to give it a go, let me know and I will assist the first five respondents in developing your marketing message for free.
I liken it to Dyson. After inventing his bagless vacuum cleaner, (and by the way, I covet mine), he tried to sell it to Hoover. They turned down the concept, with the rational that it wouldn't be worth losing the income from the vacuum cleaner bags.
Ten years later, more than half the vacuum cleaners sold in the UK were made by Dyson, and market share for Hoover had fallen 10 percent.
Conditions are ripe for innovation and an about-face in the way we market our products. Quit following the pack. Run your own direction and think about what today's renters will really respond to. Then try it. You might lose. Then again, like Southwest and Dyson, you might smoke 'em all.
Wednesday, October 14, 2009
Boomer Rising
In preparing for a recent trends session delivered this week, an interesting article really caught my eye and stayed with me. It's straight from USA Today and the Census Bureau, published September 18th - some excerpts below:
People 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.
While the young have lost ground, older people have grown more prosperous over the years and the decades. Older women have done best of all.
The dividing line between those getting richer or poorer: the year 1955. If you were born before that, you're part of a generation enjoying a four-decade run of historic income growth. Every generation after that is now sinking economically.
Household income for people in their peak earning years — between ages 45 and 54 — plunged $7,700 to $64,349 from 2000 through 2008, after adjusting for inflation. People in their 20s and 30s suffered similar drops. Older people enjoyed all the gains.
The line between the haves and have-nots runs through the middle of the Baby Boom, the population explosion 1946-64.
So, other than my financial life should stink, what is there to learn from this article?
If you are a developer, get past your intrigue with young professionals and move on to building communities for older Americans. There are more of them, they have the most money and they are most likely to downsize in the next ten years and choose a rental lifestyle. Build and rehab communities that they would find appealing and desirable. That doesn't mean Geriatrics, 101; it means keep them in mind. Utilize flooring easy on knees and hips. Place microwaves below counters, rather than above, to minimize "reach" distance. Incorporate outdoor space into floor plans and build clubhouses designed for socializing and activity. Consider amenities like greenhouses, hobby rooms with workbenches, marked walking paths and bicycle checkout.
Many older Americans serve as the family matriarch and own large dining room tables. They want to be able to accommodate extended family for special events. If you are able, build floor plans that compliment their lifestyles, rather than force changing the family dynamic. Consider offering an attractive guest suite,to house out of town guests, and hire salespeople that understand, and are part of, this profile.
Older Americans will respond well to the freedom and no maintenance lifestyle renting offers. They also value certain qualities a single family home historically provides; entertaining opportunities, outdoor space, garages/storage, familiar neighbors and privacy. Provide solutions to these potential drawbacks, and they will come.
People 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.
While the young have lost ground, older people have grown more prosperous over the years and the decades. Older women have done best of all.
The dividing line between those getting richer or poorer: the year 1955. If you were born before that, you're part of a generation enjoying a four-decade run of historic income growth. Every generation after that is now sinking economically.
Household income for people in their peak earning years — between ages 45 and 54 — plunged $7,700 to $64,349 from 2000 through 2008, after adjusting for inflation. People in their 20s and 30s suffered similar drops. Older people enjoyed all the gains.
The line between the haves and have-nots runs through the middle of the Baby Boom, the population explosion 1946-64.
So, other than my financial life should stink, what is there to learn from this article?
If you are a developer, get past your intrigue with young professionals and move on to building communities for older Americans. There are more of them, they have the most money and they are most likely to downsize in the next ten years and choose a rental lifestyle. Build and rehab communities that they would find appealing and desirable. That doesn't mean Geriatrics, 101; it means keep them in mind. Utilize flooring easy on knees and hips. Place microwaves below counters, rather than above, to minimize "reach" distance. Incorporate outdoor space into floor plans and build clubhouses designed for socializing and activity. Consider amenities like greenhouses, hobby rooms with workbenches, marked walking paths and bicycle checkout.
Many older Americans serve as the family matriarch and own large dining room tables. They want to be able to accommodate extended family for special events. If you are able, build floor plans that compliment their lifestyles, rather than force changing the family dynamic. Consider offering an attractive guest suite,to house out of town guests, and hire salespeople that understand, and are part of, this profile.
Older Americans will respond well to the freedom and no maintenance lifestyle renting offers. They also value certain qualities a single family home historically provides; entertaining opportunities, outdoor space, garages/storage, familiar neighbors and privacy. Provide solutions to these potential drawbacks, and they will come.
Monday, October 5, 2009
You Will
Have you ever taken an apartment reservation, from a billboard display? Repaired a resident's dishwasher, before it broke down? Have you ever taken a rent payment, from an RF chip?
You will.
The multifamily industry is in need of visionary thinking and leadership. Not trend-humping distractions, but true innovative, risk loaded change. Property management needs to evolve how it thinks, and inspire new ways of thinking, from high rise corporate offices to the leasing office break rooms.
While not all of the predictions in these AT&T commercials from the early 1990s came true, enough of them did to make you raise an eyebrow. Who will step up and solve the problems of too many leads? Without the creativity to map the vision, and the tenacity to follow through, what difference would it have made.
And c'mon ladies, Tom Selleck rocks it, you know he does.
You will.
The multifamily industry is in need of visionary thinking and leadership. Not trend-humping distractions, but true innovative, risk loaded change. Property management needs to evolve how it thinks, and inspire new ways of thinking, from high rise corporate offices to the leasing office break rooms.
While not all of the predictions in these AT&T commercials from the early 1990s came true, enough of them did to make you raise an eyebrow. Who will step up and solve the problems of too many leads? Without the creativity to map the vision, and the tenacity to follow through, what difference would it have made.
And c'mon ladies, Tom Selleck rocks it, you know he does.
Wednesday, September 30, 2009
10 Tips to Effective Online Meetings With On Site Teams
I have had the pleasure of conducting a few online meetings of late; otherwise referred to as "Webinars". As a presenter that is accustomed to adjusting and transforming presentations based on audience response, I found the process to be initially difficult from a delivery standpoint. There were times when I had no idea if anyone was even in the room, as I would ask a question, and no one would answer, or I could hear people assisting clients in the background, once the mute button was turned off. My perception was that people were coming and going: for all I knew, they decided to go practice the skill I had just taught - or maybe they were sleeping. It's difficult when you can't see your audience.
Managing an effective online meeting can be like herding cats; chaos may abound. Or, you can get smart, take control and manage the process effectively.
These events have been a good learning experience,and have inspired my "top 10" list for conducting successful online meetings. Enjoy.
1. Suggest or insist that the group meet before or after hours. It is impossible to conduct business and learn a new concept at the same time, and if you have hired good people, they simply won't be able to, nor should they, resist the client standing in front of them.
2. Send two or three reminder emails before training, and let the group know that you will start promptly on time. Tell them that if they join late, to please do so as quietly as possible, as if they were entering a live meeting already going on.
3. If you're expecting a large crowd, tell them you'll set up the meeting 10 minutes early to make sure everyone is able to sign on.
4. Ask the participants if they can see your screen as they join.
5. Ask participants to mute their phones as you get started.
6. It is always good to "clear" the session to begin by utilizing the Stop Showing button, then Start Showing again before you start.
7. Command of the room and receiving feedback is very difficult during a Webinar. Include questions that you will expect feedback for on the handout.
8. Speaking of handouts, they are crucial and should contain exercise boxes.
9. When you are ready to begin, ask the audience if they have your undivided attention. Ask if anyone will need to leave to conduct business during the session.
9. As part of your introduction, make sure to tell the audience what they are going to learn, to refer to handouts when conducting exercises and what the benefit to them will be.
10. If you ask a question, and get no response, ask the group a clever question like, "Do I assume that I am not conveying this concept well, or are you all shouting answers and have forgotten to turn off your mute buttons?"
A good online meeting should last no longer than 1.5 hours, and 1 hour is optimal. Managing the meeting is crucial to success, and will result in a team that has been trained in a new concept and is ready to practice technique.
What are your favorite Webinar/online meeting tips?
Managing an effective online meeting can be like herding cats; chaos may abound. Or, you can get smart, take control and manage the process effectively.
These events have been a good learning experience,and have inspired my "top 10" list for conducting successful online meetings. Enjoy.
1. Suggest or insist that the group meet before or after hours. It is impossible to conduct business and learn a new concept at the same time, and if you have hired good people, they simply won't be able to, nor should they, resist the client standing in front of them.
2. Send two or three reminder emails before training, and let the group know that you will start promptly on time. Tell them that if they join late, to please do so as quietly as possible, as if they were entering a live meeting already going on.
3. If you're expecting a large crowd, tell them you'll set up the meeting 10 minutes early to make sure everyone is able to sign on.
4. Ask the participants if they can see your screen as they join.
5. Ask participants to mute their phones as you get started.
6. It is always good to "clear" the session to begin by utilizing the Stop Showing button, then Start Showing again before you start.
7. Command of the room and receiving feedback is very difficult during a Webinar. Include questions that you will expect feedback for on the handout.
8. Speaking of handouts, they are crucial and should contain exercise boxes.
9. When you are ready to begin, ask the audience if they have your undivided attention. Ask if anyone will need to leave to conduct business during the session.
9. As part of your introduction, make sure to tell the audience what they are going to learn, to refer to handouts when conducting exercises and what the benefit to them will be.
10. If you ask a question, and get no response, ask the group a clever question like, "Do I assume that I am not conveying this concept well, or are you all shouting answers and have forgotten to turn off your mute buttons?"
A good online meeting should last no longer than 1.5 hours, and 1 hour is optimal. Managing the meeting is crucial to success, and will result in a team that has been trained in a new concept and is ready to practice technique.
What are your favorite Webinar/online meeting tips?
Monday, September 21, 2009
Staying Out Of The Excuse Swamp
In my consulting practice, I often hear supervisors lamenting over the lack of accountability displayed by those in their charge. Excuses are numerous, and a sense of responsibility seems in short supply.
My 16 year-old might fall into this category. I would love nothing more than for him to wake up on Saturday morning, whistle while he grabs breakfast and head out to mow the lawn. How pleasant our lives would be. Instead, it usually goes something like this:
Friday afternoon
"Jack, I need you to mow the lawn before the weekend."
"Ok, Mom, I'm really tired right now and need to take a nap. I'll do it later."
Friday evening
"Jack, I just pulled in the driveway and the lawn is not mowed."
"Yeah, Pat came over and we played Xbox. I will do it tonight."
"No, you won't. It is getting dark now."
"I'll do it tomorrow morning. What's the big deal?"
Saturday morning
"It's 10 am and you have to mow the lawn before you go to work. Get up."
"Mooooommm, (as he puts the pillow over his head), I'll do it after work. I only work until 4."
And on an on it goes. The end result? Monday morning. Raining. Lawn still not mowed. Mama is not happy. As a matter of fact, Mama is really, really mad. I feel taken advantage of, my son has not lived up to his responsibility and has proven that he will not be accountable on his own, so now there must be a confrontation and potentially, consequences.
How do you keep from being dragged into the "excuse swamp"?
When addressing performance issues, try the following:
State the issue. Do not add opinion or blame.
"One of your jobs as a member of this household is to mow the lawn on a weekly basis. This has not happened of your own initiative, and this week, it did not happen at all."
("Your conversion ratio is 17.5% averaged for the last three months. The expectation is 30%.")
Ask a Future oriented, neutral question
This is where, arms crossed in a defensive posture, we will usually say something like this, "What do you have to say for yourself?" Do not do this! This is a question that looks backward and forces the employee to defend themselves, usually through excuses.
It is what it is. Start thinking future behavior.
"How can we ensure you mow the lawn by Saturday morning?"
("How can we increase your sales conversion ratio?")
Here's where the excuses might start.
My son might say, "I'll quit my job and have no social life."
(Your leasing professional might say, "Drop the price by $100.")
You know that may not be possible, and you might want very much at this point to blow up, roll your eyes or bite back. Don't. Honor it.
"That is one way. How else?"
"Which ideas can we realistically implement to get back on track?"
Reinforce any useful suggestions made. Keep coming back with what or how questions until excuses stop and conversation moves to goals.
Then, close the deal. Get the commitment.
"I think we have agreed that you have not been living up to the expectations we have of you as a family member, and to make sure the lawn is mowed weekly we are going to set a time and day at the beginning of each week that is agreeable to all that you commit to mowing the lawn."
"I think we have agreed that you don’t have the conversion ratio that is expected, and to increase sales, you are going to increase follow through efforts to two hours per day and up outreach efforts by 2 hours per week."
Arrange a time to meet again.
"In 2 weeks on Sunday, we will talk about how this method is working. If you need any help, let me know."
“Let’s review your progress in 2 weeks to see how it is working. If you need any help, let me know."
Make sure to provide feedback and reinforce any improvement. It is as much about changing your behaviors as theirs. Remember, you teach people how to treat you.
The lawn was mowed this week, and though we wavered on the hour, it got done before the weekend. I thanked my son and told him how much it meant to me to be able to enjoy the backyard during the weekend. One week down, one to go...
My 16 year-old might fall into this category. I would love nothing more than for him to wake up on Saturday morning, whistle while he grabs breakfast and head out to mow the lawn. How pleasant our lives would be. Instead, it usually goes something like this:
Friday afternoon
"Jack, I need you to mow the lawn before the weekend."
"Ok, Mom, I'm really tired right now and need to take a nap. I'll do it later."
Friday evening
"Jack, I just pulled in the driveway and the lawn is not mowed."
"Yeah, Pat came over and we played Xbox. I will do it tonight."
"No, you won't. It is getting dark now."
"I'll do it tomorrow morning. What's the big deal?"
Saturday morning
"It's 10 am and you have to mow the lawn before you go to work. Get up."
"Mooooommm, (as he puts the pillow over his head), I'll do it after work. I only work until 4."
And on an on it goes. The end result? Monday morning. Raining. Lawn still not mowed. Mama is not happy. As a matter of fact, Mama is really, really mad. I feel taken advantage of, my son has not lived up to his responsibility and has proven that he will not be accountable on his own, so now there must be a confrontation and potentially, consequences.
How do you keep from being dragged into the "excuse swamp"?
When addressing performance issues, try the following:
State the issue. Do not add opinion or blame.
"One of your jobs as a member of this household is to mow the lawn on a weekly basis. This has not happened of your own initiative, and this week, it did not happen at all."
("Your conversion ratio is 17.5% averaged for the last three months. The expectation is 30%.")
Ask a Future oriented, neutral question
This is where, arms crossed in a defensive posture, we will usually say something like this, "What do you have to say for yourself?" Do not do this! This is a question that looks backward and forces the employee to defend themselves, usually through excuses.
It is what it is. Start thinking future behavior.
"How can we ensure you mow the lawn by Saturday morning?"
("How can we increase your sales conversion ratio?")
Here's where the excuses might start.
My son might say, "I'll quit my job and have no social life."
(Your leasing professional might say, "Drop the price by $100.")
You know that may not be possible, and you might want very much at this point to blow up, roll your eyes or bite back. Don't. Honor it.
"That is one way. How else?"
"Which ideas can we realistically implement to get back on track?"
Reinforce any useful suggestions made. Keep coming back with what or how questions until excuses stop and conversation moves to goals.
Then, close the deal. Get the commitment.
"I think we have agreed that you have not been living up to the expectations we have of you as a family member, and to make sure the lawn is mowed weekly we are going to set a time and day at the beginning of each week that is agreeable to all that you commit to mowing the lawn."
"I think we have agreed that you don’t have the conversion ratio that is expected, and to increase sales, you are going to increase follow through efforts to two hours per day and up outreach efforts by 2 hours per week."
Arrange a time to meet again.
"In 2 weeks on Sunday, we will talk about how this method is working. If you need any help, let me know."
“Let’s review your progress in 2 weeks to see how it is working. If you need any help, let me know."
Make sure to provide feedback and reinforce any improvement. It is as much about changing your behaviors as theirs. Remember, you teach people how to treat you.
The lawn was mowed this week, and though we wavered on the hour, it got done before the weekend. I thanked my son and told him how much it meant to me to be able to enjoy the backyard during the weekend. One week down, one to go...
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