Balancing High Tech and High Touch Part 2

In October of 2013, we wrote a post on this subject.  Almost 5 years later, we revisit the same concept of the double-edged sword of finding the balance between high tech and high touch.  High touch remains the winner

Not a day goes by without someone bringing up a new fix, a new link, a new SEO tip, or a Google change to lure leads into their website. And every day a new company pops up with some lead generation program promising leads, phrases and keywords, zip codes in order to make you rich. While some of these fixes may and do work, they do not guarantee success, or high placement on Google. This is true both in the luxury real estate and other real estate marketing segment.

The companies that offer all this stuff can outspend any real estate agent or independent agent on this planet, and they do.  And they are busy outspending each other in order to gain dominance for the same pool of buyers and potential listings.   The big box companies have also entered this game, and some of the companies are planning to go head to head with the three major aggregators.

Recently one of our friends in Los Angeles listed her magnificent estate with a high profile successful independent firm.  As we were reviewing the presentation on line, we noticed that it was difficult for us to find who the listing agent was.  What came up, when we looked up the listing by the address were the usual aggregators followed by the big box firms. The listing company was way down on the first page of our search.

Why did our friend list with an independent, when she could have had all the google juice with a big box firm and their star agents?  She was not impressed with the big box stars who strutted their stuff and their high-tech knowhow, nor their global and Hollywood connections.  

What made her sign that listing contract was the compassion and understanding of her situation that these two agents exhibited.  She knew that they had access to the same tools and contacts that any other agency has.  She felt comfortable with them as well as comforted.  She left town knowing the home was in good hands. 

We agree with the Dalai Lama’s statement, “I think technology really increased human ability. But technology cannot produce compassion.” In our experiences with high producers in the high-end market, we have found that the secret ingredient in their success was not how much they spend on tech, it was their innate compassion when working with their clients. Compassion cannot be bought or faked.  

Branding Moment: What Does Your Brand Stand For?

As a luxury real estate marketing professional, it is absolutely essential to clearly articulate your Brand Position. That is, the conceptual place you want to “own” in the minds of your target market including the benefits you what them to think about when they think of your personal or company brand.

Facebook is under siege by the media and by the governments of many countries due massive breaches of security. Facebook users have had their confidence shaken to the core as more evidence of Facebook’s disregard for user privacy is being exposed.

Meanwhile, Apple, with its $1 Trillion valuation has taken the position that their company values and stands for security and privacy. Every time Facebook or Google is called on the carpet regarding their disregard for security and privacy, Apple’s brand value, in the minds of their target market, soars.  That is an important reason that Apple’s target market is willing to pay a premium for their superb products. Embracing security and privacy as a brand position has translated handsomely to Apple’s bottom line.

What does our personal or company brand stand for? Take a stance that is juxtaposed to your competition. Own that concept and its benefits in the minds of your target market. Then watch your business soar!

Vespas Arrive At Cold Spring Tavern: Full Expression Of Bella Figura!

Cold Spring Tavern in Santa Barbara is a former stagecoach stop (now restaurant) in the Los Padres National Forest.  It is a beloved spot for food, music, and motorcycle meet ups.  This our first sighting of Vespa here.  We loved the rainbow of colors, the matching jackets and helmets.  It exemplified the concept of Bella Figura.  Here is an excerpt (from the Eyetalia Blog) that gives you the gist of the concept.

"Bella figura can mean many things, but at its core is presentation…how one looks, how one comports oneself, how one makes the best possible impression in all things. 

That such a concept is hardwired into the Italian psyche is no surprise: what else could be expected from a country that’s been creating beauty for centuries? Beauty is revered in Italy, whether expressed grandly through art and architecture, or more simply by the perfect cut of a suit."

Happy Sunday

BSM (Before Social Media): Practicing The Ancient Art Of Networking Face-to Face!

A long, long time ago, BSM (Before Social Media) there was an ancient practice known as meeting socially, in person, face-to-face. In a business context, these meetings were known as networking. It is an art form rarely practiced by luxury real estate marketing professionals today. 

But, those who proactively embrace networking can soar to top-of-mind status within their marketplace. They are able to stand apart from their competitors who have retreated and are hiding behind their digital screens waiting for business to happen to them. Agents who consistently integrate the art of networking as their dominant marketing strategy can significantly increase their visibility, their listing inventory, and their commission income.

Watch this 3 minute video case study of one of our most successful clients who has set new standards for the art of networking in luxury real estate marketing.  

Branding Moments: Finding The Uncontested Market Niche!

If you have followed our blog, you know that we are proponents of niche marketing when it comes to having a successful real estate practice.  Regardless of how big or small the city or the marketplace is, we have successfully helped our clients find the uncontested market niche.  There is always a gap that no one is filling or has noticed.  Here is an example from the very crowded and competitive wine industry

Yesterday, we drove to Los Olivos (a small city, population 825, in the Santa Barbara County Wine area), where wine tasting stores, restaurants and specialty stores abound. There we spotted a new logo (pictured above) on one of the 25 tasting rooms that dot the two main cross streets.  We decided that we would visit them after lunch.  

Our first question was:  What is Solminer?  

Solminer means mining the sun, and the sun is part of what makes the vines grow.

What is different about Solminer, among the 25 other tasting rooms in Los Olivos, and the 200+ wineries in Santa Barbara County?

They grow grapes that come from Austria, which no one else has in this region.  Here is an excerpt from their website:

"Our personal desire is to reflect the vineyard in the wine and experiment with Austrian varietals.  Since the beginning, we thought Grüner Veltliner would do well here and soon after we discovered that the Austrian red grape, Blaufränkisch, is perfect for our climate as well. 

We've rounded things out with a bit of Muscat to create an Austrian inspired dry "Muskateller"... We also have new plantings of Riesling to add to our  sources from neighboring vineyards that we have selected for their climate, soils and sustainable growing practices. 700-900 cases are produced per year. "

This was our first taste of wine from Austrian grapes.  All four whites were exceptional.  The other differentiator was their wines are not as high in alcohol 12-13%, unlike many of the new wines which can be as high as 15%.   This is in keeping with the European style, where wine is meant to be savored and heighten the taste of the food served, instead of making one tipsy.

This is the story of Solminer's uncontested market niche.  Although we generally prefer red wines over whites, these won us over.  They would be perfect with to accompany  a cheese platter or seafood.

Like in winemaking, there are many niches in real estate.  Some are obvious (focusing on a certain type of property, waterfront, land, condo), and some are not, and some need research to find the exact parameters. This research will open your eyes and minds as to many possibilities that are available. 

Branding Moments: Do You Have An Uncontested or Underserved Market Niche?

This business model pictured above is a perfect illustration of the concept of the uncontested or underserved market niche. Is this business model uncontested or Underserved?

When looking for an underserved or uncontested market niche, you have to spend time researching the marketplace in order to identify it.  In real estate or any other business, it means that there are very few concentrating on that segment of the market. Real estate professionals often focus on working in areas where there is plenty of competition. Their logic is simple driven by the notion that they can do a better job than the agent or business that is thriving there.

In our commercial real estate career, we assumed that there was money to be made in working the Beverly Hills triangle, because of the high lease rates and high prices for the commercial buildings. However, there was very little money to be made, because there were three dominant players who owned the marketplace. All three were excellent agents, and two of the three owned commercial buildings in what is known as the Golden Triangle. 

Trying to carve a dent in that market area was equivalent to swimming with the sharks, also known as a red ocean strategy. (This refers to a book titled Blue Ocean Strategy, “How to Create Uncontested Market Space and Make the Competition Irrelevant”, written in 2004 by W. Chan Kim and RenéeMauborgne,two Harvard professors.} When you swim with the sharks, the competition is fierce and to remain alive you have to battle for a piece of the action.

Blue Ocean Strategy refers to finding an arena where you can thrive without major competition, and become the market leader. This led us to researching different areas of the Los Angeles Westside. We noticed that the marketplace outside of the Golden Triangle had very little professional representation with many “for lease or for sale by owner signs.” This area became our blue water market place.  Within a few years, we were known as the go to agents in that marketplace, and had our signs on every new development.  Those who tried to compete eventually gave up.   

In our opinion, “milk and eggs.com” is swimming in shark infested waters.  Food delivery to busy households is an arena dominated by big players with large marketing budgets like Amazon’s Whole Foods, Kroger and Albertson’s.  Their claim to fame is that they pick up from farmers their produce and products, so they are the equivalent to shopping at the famers market, which is what they were doing in our neck of the woods where many farms and avocado ranches are located.  Eventually someone is going to fold or be acquired.

Are you swimming with the sharks or enjoying an uncontested market niche?

Who Is Your Target Market: Pigeonholes VS People?

There is a tendency in the marketing world to focus on categorizing people into pigeonholes as a shortcut in order to influence those they are marketing to. As the world’s population grows, more people are pigeonholed and pundits appear to tell you how to market to this and that group.  While this may be valuable as a construct, it is not the absolute truth regardless of what the experts say.

We subscribe to many online marketing publications, and we see some of the dopiest headlines.  Here is an example: “Millennial shoppers value compassion, customer service more than most... They tend to expect brands to be more value-conscious…” We, who are not in the millennial pigeonhole, value compassion and customer service, and it is unimaginable that anyone in any pigeonhole would not value great service or compassion. 

Another headline touted that millennial folks invented and love craft beers. Fact is that craft beers have been around a long, long, time all over the world.  This group may have popularized craft beer places but did not invent them. In our little village, we have a craft beer place that has existed before the word “millennial” was invented.  And we can assure you that we have met people with the millennial label who disliked beer of any kind.

In order to be successful in your marketing efforts, you need to focus on specifics or the core values of the people in your marketplace. Who are the people in your target market, what is important to them? What are their habits? What kind of lifestyle they have?  Do they read the newspaper and is it delivered to their door every morning?  If they do, then you better have an ad in that paper! This may be contrary to your beliefs that “print is dead”.  For them it is not.

Understanding the values of your marketplace without judgment, labels or preconceived notions, will put you way ahead of your competition who are relying on pigeonholes.  It takes time to understand different values and adjust your thinking.  In the long run, you will have learned compassion.  And, compassion is something that is a value that is understood and appreciated by all. 

Details Make Perfection & Perfection Is Not A Detail--Part 2!

In January of 2016, we wrote a post with the same title.  As we mentioned then, the title is a quote by Leonardo da Vinci, and it is one of our favorite quotes.  Recently, we spent time in Arizona on a project.  We had booked our stay at the historical Arizona Biltmore.  Both of us had fond memories of our stays many years ago.

This hotel was designed by Albert Chase, a former student of Frank Lloyd Wrigh,t along with his mentor Frank Lloyd Wright  acting as his consultant.  They came up with the idea of creating "Biltmore" block pictured in the photo above.  This block was created from the desert sand on the site, and the different patterns are inspired by palm trees.  Frank Lloyd Wright primary tenet was that architecture should be in harmony with nature.

Even though the hotel has been remodeled to meet current building codes and added conveniences expected of a luxury resort, we are happy to report that they honored the spirit and the attention to detail that Frank Llyod Wright and Albert Chase came up with in 1929.

Even though the hotel has been remodeled to meet current building codes and added conveniences expected of a luxury resort, we are happy to report that they honored the spirit and the attention to detail that Frank Llyod Wright and Albert Chase came up with in 1929.

How does this apply to real estate? Details often complete the look and feel of the brand and its logo.  Although they may seen unimportant in the whole scheme of things, it is what makes a brand stand out.  

In our experience with creating brands for our clients, it is always that detail that makes the brand memorable.  It may be a simple as a font, a color, or photo.  Perfection is in the details, and details make a brand remarkable and unforgettable.

Branding Moment: What Is At Stake When Choosing A Brand Name?

The first goal of marketing is to build and maintain a preference for your brand within your target market. This is true if your intention is to be the market leader. It makes sense to find the right name for your brand. It has to be easy to remember and easy to say.  This is very important when it comes to referrals, and word of mouth. 

This morning as we were returning home from an appointment, two trucks were waiting at the red light in front of us. The one directly in front of us  was branded  paysage  This is a French word. Its primary meaning is scenery. Its secondary meaning is landscape. We wondered how many people in Santa Barbara understand the word or could pronounce it. Would someone call this company, "pay sage?" Listen to this 15 second video below if you want to learn the pronunciation .

It is easier to say FedEx  than to say paysage. And the majority of us knows the word FedEx. 

Our research revealed that Paysage, the local landscape company, has been operating in Santa Barbara since 2000. Apparently, they are doing something right, however, they are not considered to be in the top 5 in the city.  The top 5 have an easy name to remember.  

If you want to maintain a preference for your brand, be sure to take time to choose the right name.  What is at stake is word of mouth and referrals.

Happy Birthday America: Fourth Of July Floral Display

We enjoyed this beautiful floral display that we saw at the lobby of a hotel.  The roses, hydrangeas and gladiolas made up the stripes, and the blue pebbles in the vases added the stars.  We found this very creative along with the flags on either side also planted in a vase with blue pebbles.  

Enjoy the Fourth of July!

The Future is Here: The Solution For The Affordable Housing Shortage Is On Its Way!

We are all aware of the “affordable housing” crisis is affecting many parts of our country.  There is a solution that will soon be put into effect in the homebuilding industry. It is known as 3D printing

In January of 2014, we wrote a post called, “Science Fiction Becomes Reality.  We focused on the 3D Printer that premiered at the Consumer Electronics Show in Las Vegas. We likened it to the Star Trek technology in the 24thCentury known as the replicator, which could produce food, clothing and other sundry items. We also posted a video demonstrating the making of a wrench with a 3D printer.

Four years later, on May 12, 2018, this video  premiered on YouTube.  It showed an affordable 3D-printedHouse that took less than a day to build for $10,000. The prototype was built in Austin, TX, and was the first to received a permit for occupancy. The company ICON is predicting that the costs can be brought down to $4,000, for a 650 square foot home.  

The use of is booming in many industries. With a 3D printer, a dentist can print a perfect crown for his patient in 30 minutes. Automobile manufacturers are printing auto parts. Even the luxury industry is now using 3D printing.

“The Future is here.  It’s just not widely distributed, yet” --William Gibson, Science Fiction Novelist

A Spicy Pursuit: What Specialty Is Missing In Your Marketplace?

One of the best ways to stand out from the crowd in luxury or other real estate marketing is to find the underserved market niche, or filling a need in your marketplace..  In order to find it, one has to do quite a bit of research, because at first glance the market may look crowded. It is not unusual to assume that every niche in the real estate market is already taken.  Here is an example of a business that did just that.

In one of the markets we frequent here in Santa Barbara, the spice and seasonings aisle takes up over one quarter of the space. It is our source to find the rare spice or seasoning for a dish we are making.

Food experts advise that spices diminish in flavor over time. They are susceptible to heat, moisture and light.  Furthermore, they are sold in quantities that are too large for an average household to use up in a short period of time as they have at best one to two-year lifetime of flavor. 

Spicely Organics found the underserved market niche among the  biggest spice producers in the food industry.  Gelson’s Market added more shelf space to their spice aisle to accommodate them. Thanks to Spicely Organics you don’t have to go out of your way to assure yourself that certain spices may be a detriment to your diet because how they are produced. Everything is certified for every type of food concern. 

Furthermore, they sell them in small batches, which means that you don’t have to worry about the shelf life of your purchase.  There is enough for two or three uses.  It may seem more expensive than that big bottle you are used to buying in terms of quantity, however, this beats the competition in terms of quality.  

In the realm of real estate, we have heard many success stories of agents who specialize in what may seem to many who will take any listing at any price crazy niches.  We can assure you that those who specialize in just condos, for instance, or just properties they personally like, or just historical properties, or just land are thriving regardless of the market conditions.  These agents researched what was missing in their marketplace and became experts, and the go to agents in those niches.  What  Specialty is missing in your marketplace?

Knowing Your Marketplace And The Mindset of Your Ideal Clients Can Assure Your Success

If you want to have a successful luxury or other real estate practice, you must understand the mindset of your ideal clients and the intricacies of your marketplace that make them happy to live there.  When you take the time to really understand what they need and assure them that you can deliver the results they are after, you become the answer to their prayers.  Here is an example:

Recently, we visited Deer Valley, Utah with friends.  We went to The Market in Park City to stock up on provisions to munch on while watching the NBA Finals. We discovered a section devoted to exclusively to artisanal cheeses.  I (A) asked the cheese monger, Marcy, what was new and exciting? After taking the time to understand our tastes and preferences, she knew we were all fond of cheese and eager to learn.

Marcy proceeded to tell us about her favorites that she was sure we would love too. One of them pictured above was an alpine blossom covered rind cheese made in Austria with milk from 15 brown Swiss cows in each herd.  They feed in the pasture of the Alps.  As the cheese ages, the rind is washed and is covered with the dried edible flowers and herbs from the surrounding Alpine Meadows.  You eat the cheese topped with a bit of flowers along with the rind. We all agreed that this was one of the best cheeses we ever tasted.  

Marcy also went out of her way tell us which crackers to buy and which went with each cheese for the 5 varieties we bought.  Then, as we were walking in the aisles, she ran over to tell us that we should buy a Rosé or a Riesling wine, to pair with our cheese selection.  

We loved her enthusiasm, her expertise and her extraordinary service. Naturally, we followed her advice in selecting wines. Marcy was the answer to our prayers. While out of town we look for experiences that are like touchstones to recall and share with others. It is only natural to refer our readers to her cheese department at The Market in Park City.

Are You A Jack-of-All-Trades, Master of None?

The NUMBER ONE mistake that luxury real estate marketing professionals make is trying to be all things to all people.  We understand that it is challenging to narrow your focus and concentrate on just one niche.   The trick is discovering the right niche for you, the one that has the potential to provide the financial return you want if you were to give it your 100% undivided attention.

Watch this 2-minute video and learn how being a Jack-of-All-Trades is the biggest marketing mistake. Being a generalist vs. a specialist is the most common marketing trap

Number One Narketing Mistake from The Language of Luxury on Vimeo.

How To Stand Out From the Flock Of Pigeons - Part 2

In Part 1 of this article series we featured Digression rosé. The name, the square bottle, the flamingo symbol and slogan made it a standout (“from the pigeons”) in a sea of rosé wines from Provence, southern France. Another standout is Cote Des Roses because of its packaging. The bottom of the bottle is shaped like a rose.

The bottom of the bottle of Cotes Des Roses rose

In our time-starved world the battle for market share begins by winning the battle of attention. Both of these wines grabbed our attention when we walked by the rosé section at our wine store because they screamed both luxury and elegance at first glance.  In your luxury real estate marketing practice how do you expect to win over a prospect that you meet for the first time without first capturing their attention with great packaging, i.e., great personal or company branding? 

Here are the tasting notes for Cote Des Roses rosé:

This wine has a soft, pale, brilliant pink with bluish tints developing over time towards more orangey nuances. The bouquet releases aromas of summer fruits, cassis and red currant. Floral notes of rose along with hints of grapefruit complete the picture. The finish is fresh, offering notes of candy. On the palate the impression is fresh and full, with great aromatic persistence and balance.

And, here are the tasting notes from Digression rosé:

Delicate pink in color, this cool climate Rosé from Provence stands out among the rest. With hints of white flower, ripe peach and sweet clementine on the nose, this crisp wine draws you in immediately. On the palate you find subtle minerality, sun-warmed strawberry and ripe red berries. The elegant, smooth finish leaves you wanting for more! It pairs well with oysters on the half shell.

How To Stand Out From The Flock Of Pigeons: Part 1

A very successful friend of ours told us a secret to his amazing success early in our career. He was truly a standout in his field. He said, “I just decided to ride the horse in the direction it was heading”. We applied his advice and want to share it with you, too. 

If you want to standout from the flock of pigeons as the market leader, here is what you need to do:  1) Tune into trends; 2) Dare to Digress: Position yourself ahead of the wave; 3) Enjoy the ride!

To practice this approach to success, just tune into the trends outside of the real estate realm.  The story of rosé wine is a great example. 

According to Nielsen, 40% of rosé wine consumers are females aged 21-34, and they are most likely scrolling through social media. It's still most popular in coastal, cosmopolitan settings. Metro New York City drinks 25% of all imported rosé, with Miami coming in second at 15%.

The rosé wine trend began in 2014 and peaked in 2017. Now, there is a plethora of rosé wine on the market. Standing out is a challenge. Packaging has become a key variable to success.  

We applaud “Digression”, depicted above for many reasons: 1) The name is easy to remember; 2) The square bottle (with a glass stopper instead of a cork) is a standout-you can use it as a decanter or water bottle after finishing the wine because the label can easily be removed; 3) It uses the flamingo as a symbol, which is also easy to remember because flamingos, like the wine color, are also pink, and; 4) Its slogans are so funny and memorable: “Be a flamingo in a flock of pigeons” and "Dare To Digress". 

As an aside, a pigeon is a gullible person, especially someone swindled in a gambling or the victim of a confidence trick.  Certainly, as a luxury real estate marketing professional, you want to standout from the pigeons (should there be any in your marketplace).

Now, we are halfway there. Is the wine itself remarkable? Stay tuned for Part 2 for the answer.

A New & Different Perspective: Is It A Problem or A Puzzle?

Consistently applying the fundamentals of good marketing and branding can go a long way in building your luxury real estate practice. But, if your quest is achieving and then sustaining market leadership in your chosen niche, you need to do things differently and better than your competitors. You need to think differently to out-think your competition. And, that requires a new and different perspective.

The term, “Thinking out of the box” is a phrase that has been used so much that it has almost become cliché, the antithesis of original thinking. We have been looking for a new way to express this concept in our strategic branding practice.

Then, last Sunday, in our mastermind discussion, our friend shared this quote with us. “I don’t have any problems, I have puzzles”-Quincy Jones (musician and record producer). At first this seemed like a cool concept. But, after thinking about it for a while it also seemed quite profound.

Most people think of a problem as a matter or situation that is unwelcome or harmful and needing to be dealt with and overcome. However, if you can make the shift to viewing your situation as a puzzle your can instantly shift your perspective.  

A puzzle is a game or toy designed to test ingenuity and knowledge.  Can you feel the immediate shift in attitude that takes place when you view the same situation as a puzzle?

When you think in terms of having a problem you often introvert, it becomes part of you; it burdens you and becomes part of your identity. When you solve a puzzle you extrovert and the situation becomes objective vs. subjective. You see it outside of yourself. As Quincy says, “The moment you see your challenges as a puzzle & not a problem...you've found your way out”. 

Are You The Google of Your Marketplace Or At The Mercy of Google Bots?

We often hear real estate agents proudly stating the number of leads, they are generating with their websites.  They even cite these numbers on their printed materials, and tell everyone about it.  What does this mean? Many think that this is proof that Google loves them and will send them more leads,

Not long ago we interviewed an agent whose claim to fame was that his website generated 4000 leads a month. He had incorporated every concept that would attract people to leave their name on his website.  He faithfully attended every seminar known to real estate, and tweaked his website to please the Google bots.  And he was happy to spend big bucks to do that.  Google loved him.

We asked him, how many of those leads turned into closed transactions.   He asked us to speak to his assistant who was in charge of sifting through the leads.  

It took his assistant 4 hours a day (20 hours a week or 80 hours a month @ $25 an hour) to establish which leads were genuine, and which were not.  At the end of the month 1 or 2 would emerge as viable leads.  It would take anywhere from six months to a year to convert them into a transaction

48,000 leads a year produced 12-24 viable leads.  When we asked how many of these leads did follow through, her answer was 2-3 a year with a median home price of $400,000.  When we did the math, the agent was losing money. 

When the concept of the IDX came about, we were working with a brokerage in Napa.  We encouraged the broker-owner to be the first to join. We also employed 3 SEO experts for each search engine (Google, Bing and Yahoo) to optimize the site.  

We had as many leads as the gentleman we interviewed we mentioned. We converted one lead a quarter with a median price point of $850,000.   After expenses, the company was making money.  However, it was not a significant amount of money. 

We compared the cost of consistent farming postcard mailings and personal follow-through with the cost per lead in the SEO model. The brokerage generated 12 transactions a year in the same price range with a consistent campaign focused on just one of the sectors that she specialized in. The cost per lead was significantly less.  The broker was able to distribute these leads to her agents.  

We advise our clients to stay focused on their strategy, which involves maximum human interaction. They are not spending money on lead generation, or going crazy optimizing their websites.  They are spending their time face to face with real people instead of bots and making themselves well known and well thought of in their marketplace. They know that being visible in their community is more important than being visible on the World Wide Web.

Are You The Google of Your Marketplace, Or At The Mercy of Google Bots?

Throwback Thursday: Which Niche Can Make You Rich Part 2

As we promised last week on our Throwback Thursday post, here is the next installment of our video course, which was inspired by webinars we had done both for Active Rain and Zillow on the subject of niches. Our entire course can be found on our website if you are curious to see it all at once.  Here is part 2 of the course.  We named this video:

The Most Powerful Law of Niche Marketing

Most Powerful Law from The Language of Luxury on Vimeo.

Mind-share precedes market share. Focus on capturing MIND SHARE FIRST.  Market share will follow. It must follow according to this law. Click the image above to watch the video. 

Enjoy!

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The Precious Value of Human Interaction VS Digital Solutions

If you think that Human Interaction is being upstaged by digital solutions, think again. Recently a friend of ours saw a sign on a home and called the number on the sign.  She listened to a recording that sent her to an agent directory. The sign did not have the agent’s name or phone number on it, because the company does not allow agent riders.  

She tried to get connected to the receptionist (was not sure there was one) and gave up.  She was frustrated and vowed never to have any dealings with that company.  And all her friends heard about it like we did.

All of us have had what seemed as interminable moments on the phone getting through the maze of automated systems, just to speak to a human.  When we get to the human, we are even more frustrated because we learn that we need to speak to a supervisor to resolve our issues.  We are then placed on hold, and sometimes we are disconnected. 

Accenture, one of the leading management consultants firms, found in one of their studies that 52 percent of consumers switch due to poor customer service.  They estimated the cost to businesses at $1.6 trillion.  On the real estate scene, it is not unusual to find the voice mailbox full, or the example in our first paragraph.

This is due to the fact that most companies assume that digital-only customers are the most profitable, and customer service is an expensive service.  When they do have customer service, it is usually outsourced to other countries, which often creates more problems.  

Many of these customers (44%) resort to venting on social media channels about the poor service they received.  Sometimes, companies respond to the vent and make things right.  However, keep in mind that quite a bit of damage has been done by the venting. 

Accenture’s study found that 83% of those customers value human interaction and want more of it. They are less likely to switch companies when they have easy access to human interaction, as well as recommend the companies to friends and associates.

Digital solutions have made life easier when you stop and think about it, however we need to balance our reliance on it.  The be-all- and end-all is human interaction. Its value is precious. Institute that in your practice, and your clients will remember you and refer you.

This post is inspired our Internet provider.  Pictured above is the envelope our bill came in.  We are delighted with this change. Now when we have a question or problem with our service, we can actually speak to someone live.  It is so much easier than listening to fix it electronic instructions or going to their website.  It also takes less time.