Transform Your Marketing With This Powerful Tip

by Erik Cofield in Articles 1/8/2010 1:20:00 AM

What helps sell more homes faster? A) construction science, B) deep pockets C) stellar sales people D) strategic marketing?

 

You guessed it, strategic marketing. You might have said all of the above, but not really because of the word “faster”. Why?  Construction science can build it faster. Money is great, but not if you waste it on poor marketing choices. Sales people help, but only if they have leads.  So, strategic marketing fits that bill.  

Do you think you are in construction? Too bad, you are also in marketing. You may have gotten in to this industry because you are a construction science guru, or maybe you are a brilliant architect, or you graduated from Business College and you got in it for the money or your parents gave you the business. It doesn’t matter, congratulations, you are now in marketing.

 

While most builders don’t usually do blow away marketing, some do. You can too. Whether you could build a home blind-folded, or you are a Harvard business grad, or you were a superintendent and are starting your own company, none of that matters if you are not marketing like a Transformer!  So here is a tip many builders overlook. It will help you out-position your competition. More...


Teaching a Builder to Fish? No, Teaching a Builder to Magnetize!

by Erik Cofield in Articles 5/27/2009 4:48:00 AM

We all know the story of teaching a man to fish is better than just fishing for them. Many of us may realize through times of adversity come opportunity. How are these connected to home building?

For decades, in cycles, builders have made money. When times were good, they simply fished with a big net. It was more or less easy to find a buyer for a home one was building.

This concept of throwing a net out there to catch what you can is changing in the world, and especially fast in the United States.  Instead of going out and scooping up, the new way is to become a magnet.  Builders will have to change from being fishermen, to being high powered magnets. Some builders already are, others are planning to catch up, and some have not yet put the planning in place.

How do you pull, instead of scoop? The shift will require companies, including builders, to push out quality content, in mass, very quickly, but in a more sophisticated way than previously done. Builders will have to be more than providers of product; they will need to become trusted resources and destinations of information. They are already a destination for decorating advice; consider the many “looky-loos” using your model homes as examples of decorating advice. Society will force builders, at least highly profitable ones, to do a better job of attracting people. Why? Because people have more choice than ever before, but less time, and therefore can only go where they are strongly attracted. Enter the magnet builder. More...


Manage Complaints with the FFF Principle

by Erik Cofield in Articles 12/23/2008 7:59:00 AM

The Feel, Felt, Found principle was developed long ago and it works in multiple scenarios of all interpersonal relationships including prospects, customers, vendors, family members etc. One key to both warranty and successful project management is communication. It also happens not to be a strong suit among many in the residential construction industry. Effective communication can make up for a mistake, or enhance an already great product. It can deflect anger, redirect someone’s future actions. Not to mention, effective communication is tied to your profitability in the sales process. 

FEEL, FELT, FOUND: Any time someone speaks to you, AND, you want to redirect their language, or thoughts, or actions, try this out. Here is a sample conversation between a consumer customer (Customer) and builder’s project manager or superintendent (PM) regarding a warranty claim: 
Customer     “John, all of my plants have died. I just moved in not even 30 days ago. What kind of junkie plants does your company use?”
PM                “Mrs. Smith, first, let me communicate that I understand how you FEEL.”
Customer     “I don’t think it is right that I now have to do all new landscaping, because of your fault.”
PM                "I understand how you FEEL. I would have FELT the same way. I would not want to replace all my plants after all the hassle of moving in as well.  What I have     FOUND in the 22 years I have been doing this, is that sometimes customers focus on making a quality home on the inside, but simply forget to wrap their plants during a freeze. It is an easy thing to do. Although I understand how you FEEL, and would have FELT the same way too, what I have FOUND is sometimes things have to get fixed or replaced from easy actions we take, or didn’t take.
 

At first read, one may think this is amateurish at best.  But when you use this More...


The Future Face of the American Boomers Home Place (Part 3 of a 3 part series on Boomer)

by Erik Cofield in Articles 8/24/2008 11:13:00 AM

Here are several things that will change the face of the American Boomer.  How you react to these will impact your profitability. This is sort of a reverse Q&A, more like an A & Q.

 

Cruise lines are building permanent, for sale units, on ships.
The ultra-luxury are alive and well. Are you marketing to them, because they’re buying?

Boomers are embracing education, more than ever before.
Are you building near colleges or even adding space for education in your floor plans?
Trailer, mobile home and RV parks are gaining in popularity.
What is to prevent you from capitalizing on that? Have you considered building apartments or multi-family units such as quads near these locations, or even offering an RV parking space as an option for your current product line?
Boomers are living longer, and are embracing trans-generational housing. 
Are you building it, because they are already coming? 
Hotels are getting in to the elder care business?
Are you building a variation of the trans-generational house, to accommodate a nurse, next generation or caretaker? 
Canadian giant, Four Season’s hotel, and others, continue to expand their luxury 7 figure apartments.
If you are a custom builder, are you prepared to compete with that?
Boomers are more active, and want to be near “action items”.
Are you building near ball parks, opera, the zoo, malls, etc., or using action and location in your marketing?
The number of people aging in place, or needing assisted living and medical care, will rise for over a decade.
Whether you are a Remodeler, custom builder or volume builder, are you capitalizing on that by building near there, marketing to that demographic, or even getting someone on staff familiar with the issues?  At the very least, align yourself with a CAPS (Certified Aging in Place Specialist) expert. CAPS is a designation offered by NAHB. You having a CAPS person on staff is a differentiator, for very little time and money.
Boomers can live outside the US more easily than ever.
Dell Webb / Toll and other giants warned some time ago about losing units to foreign soil. But many of those retirees still want a place, even if a small place, here stateside. This proves even giants need to know their market. Are you making the right plans, in time, on product type and location?
The use of Concierge and Personal Assistants is growing.
Does your active adult community have an assistant program built in?  If not, that is a huge differentiator, and all you need to do is coordinate and put the program in place. In fact, the whole concept of Apartment for Life (major services are delivered) is being introduced. This greatly impacts product design. It can even be a seperate profit center, just like outsourcing interior designers and others.
Lofts, and urban revitalization are ever more attractive to Boomers
Are you letting go of an opportunity to redo a downtown structure at high profit margins? Boomers are among those who want art space, and your marketing to the artistic community could be well spent.  Wouldn’t museum and art gallery clients be nice leads? 

The bottom line is, your bottom line will be greatly impacted by the way Boomers are choosing to live.  What you do, or don’t, take action on is part of the art of business; your business.


 

Erik Cofield, CGA has leveraged technology and provided business management consulting for all sizes and types of builders, developers and Remodelers since 2000, including volume, multi-family and custom, to help them improve their business. He is the National Accounts Manager with BuildTopia (www.buildtopia.com), a widely used international construction management software company. He is the Houston Sales and Marketing Council’s 2008 Associate of the Year. He can be reached via ecofield@buildtopia.com. Check out the blog at www.buildtopia.com/blog.

Boomer Stats! Sell to Boomers TODAY! (Part 2 of a 3 part series on Boomers)

by Erik Cofield in Articles 8/4/2008 7:27:00 AM

Scouring the internet, you will find many sources and surveys for statistics on Baby Boomers, the Active Adult and 50+ demographics, all herein lumped together as “boomers”.  Here are some excerpted statistics…that you can profit from. 

It may not be a surprise that Boomers talk more than they type, that they don’t get in to blogs, or usually in to social networking sites.  It may also not be a surprise they buy differently, buy different product types, and you may know what is or is not important to them.
 

But, did you know:
People over age 40 are heavy users of other online services.
Boomers are heavy users of emails, 96% in some surveys.
Boomers want to connect with others in their communities, but around shared interests.
Most of them have a circle of family and friends with whom they are in consistent communication.
A high percentage think of themselves as busy, with little time, or interest, in being sedentary.
Privacy is fiercely defended.
More...


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The Impossible Just Takes Longer and Scheduling Like It Matters

by Erik Cofield in Articles 6/25/2008 2:21:00 AM

If asked to build a regular single family detached livable house in 2 hours, or even 3 hours, you may say it can’t be done. If you were told it can be done, you would think it is a child’s logic problem, with some silly caveat and not worth your time. You would know even television programs with a staff of hundreds take a week to do it.

But, if you knew your life, genuinely, depended on it, you would start redefining the rules and start asking questions. What type of house? Do you want a doll house? Is it from a kit? It would not be made of concrete, right? 

Asking the right questions is a crucial step, and complete discovery is essential in every aspect of your business, and specifically for the builder managing to a schedule as well. 

If you treated it like a genuine life and death situation, you would plan, strategize and scheme to do everything you could.  Today, success takes “everything you could”. 

For your employees, your ability to plan is critical for them, and their way of life is significantly impacted by your ability, or inability, to schedule.  Your business viability is directly tied to your ability to plan and schedule. Whether it is planning to build, building a plan, selling to a plan, or planning to sell, it all involves steps.  If you think a 3 hour house can not be built, I invite you to see the real world example, of success.  Check out http://www.2hourhouse.com/  More...


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