Repositioning Your 55+ Community For Today's Market
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Transcript of Repositioning Your 55+ Community For Today's Market
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International Builders ShowFriday, January 14, 2011
Orlando, Florida
Cathie Daly, President -- Design East Inc.Dottie Fawcett, MIRM -- Constellation Web Solutions
Douglas Fenichel, APR – Pulse CommunicationsRandy Hix, MBA, CMP, CSP – Randy Hix & Associates
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• Welcome and Introductions—Cathie Daly• Marketing and Sales Trends—Randy Hix• Merchandising Best Practices—Cathie Daly• Public Relations- Reputation Power—Doug Fenichel• Social Media—Dottie Fawcett• Social Networking—Doug Fenichel• Sales Performance Management—Randy Hix• Q & A—Cathie Daly
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Marketing and Sales Trends
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Baby Boomers Next ActGeneration Bold
As boomers get older, they get bolder. Boomers are the generation that announced early their
intention to change the world.
"At a certain life stage people have always asked themselves, 'What should I do next?' But where the last generation primarily answered that by planning for retirement, increasingly people want to do something with meaning. " --Marci Alboher, Vice-President, Civic Ventures
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50+ Homebuyer Trends
• Baby boomers will continue to work in jobs that provide high personal satisfaction.
• Choosing not to move to seniors-only retirement communities.
• Joining co-housing neighborhood where community’s socialization occurs.
• Stay active by demanding more time for hobbies and volunteering from their employers.
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50+ Homebuyer Trends
• Encore careers
• By 2030, the number of adults 65 or older will skyrocket to 72 million, from 40 million this year
• Boomers are less likely to have pensions
• Boomers' desire to continue working dovetails with an expected shortage of younger workers.
• Fewer snowbirds
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50+ Homebuyer Trends
• Retirement is now viewed as a step along the life continuum.
• Major goal for many in
“Generation Bold” is leaving a financial legacy
• Planning to age in place.
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Demands of the 50+ Homebuyer for their new home
• Looking for safe urbanism.
• Locations with affordable cost of living and quality healthcare, trumping warm climate.
• Look for continuing education, culture, and active-lifestyle.
• Golf course communities are out; conservation communities with passive green space and trails are in.
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Demands of the 50+ Homebuyer for their new home
• More sophisticated style
• Experiential environments
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Merchandising Best Practices
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50+ Market Yesterday
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50+ Market Today
The profile of the 50+ Market has changed dramatically
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Today – Home sizes and options
purchased have decreased!
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100% increase
in average square feet per home
Decrease in
average number of household members
Year 1950 to 2000
Demand for Size: 2000 US Census Bureau
2004- 2330 Square Feet2007- 2495 Square Feet2008- 2320 Square Feet 7% smaller
TrendSize
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Condo market has disappeared
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Housing starts have decreased
Sales of available specs have increased
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New 50+ communities have diminished.
Competition still exists
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Courtesy of: NAHB Market ResearchIf you were buying a new house, how much importance would
you put on these factors?
9% of builders weighted it as important
Builder Audience
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Courtesy of: NAHB Market Research83% of consumers as important!
Consumer Audience
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2011 Merchandising Best Practices
for Existing Communities
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Furnished Floor Plans Ideal for Web and Brochures
Create the Vision!
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Furnished Color Rendered Floor Plan
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Be future focused -
Utilize a merchandiser for all product evaluation
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BEFORE
AFTER
EXAMPLE OF PRODUCT ANALYSIS
½ WALL
½ WALL
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BEFORE AFTER
EXAMPLE OF PRODUCT ANALYSIS
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LOOK THRU A NEW LENS!
HOW DOES YOUR ENVIRONMENT
INFLUENCE YOUR SALES?
• Model• Sales Center• Design Center
Experience
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Consider the flexibility of today’s clubhouse
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BEFORE
AFTER
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BEFORE
AFTER
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BEFORE
AFTER
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Schedule team site visits
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SELL THAT HOUSE!
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“THE BIG PAYOFF”
We can improve and increase business potential with design
solutions that empower and meet budget guidelines
Remember: Think outside the box!
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Celebrating Over 20 Years of Interior Design and Merchandising Excellence
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Public Relations:The Missing Sales Link
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Fair Question: Who’s Doug Fenichel & Why Is He Saying These Things To You?
• Accredited public relations practitioner
• 25 years of helping companies reinforce their reputation during times of change
• 10 years as public relations director for K. Hovnanian Homes
• Handled Coldwell Banker as main acct at public relations agency
• Expertise in using traditional and social media channels to tell your story
Public Relations – The Missing Sales Link
Scan for Doug’s bio
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Today’s Lessons at a Glance:
• Your most powerful sales tool is your good reputation
• Without good communications, the best reputationlanguishes under a basket.
• Tell your story yourself…to the right people at the right time through the right channels
Public Relations – The Missing Sales Link
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Let’s define terms:
Public Relations – The Missing Sales Link
What is public relations?
• Free publicity• Spin
• News releases• Advertorials
• Making things look good• Schmoozing
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Let’s define terms:
Public Relations – The Missing Sales Link
What is public relations?
• A strategic part of an organization’s business plan
• Protecting and building an organization’s reputation
• Communicating with people and groups impacting success.
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Let’s define terms:
Public Relations – The Missing Sales Link
What is public relations?
Bi-i-ig Toolbox
• Surveys and research
• Help businesses define and tell their story
• Determine who to engage and how to do it
• Traditional and online media
• Social networking tools
• Special events
• Advertising (controlled message)
• Lots more
Anything ethical that helps build a relationship!
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Let’s define terms:
Public Relations – The Missing Sales Link
What is public relations?
Relationship with who?
• Current & Future Customers• Host community residents
• Influencers• Trade Partners
• Vendors• Local government officials
• State & Fed rule makers/regulators• Media (traditional, online, bloggers)
• Advocacy groups, good & bad• Employees
• Others
Anyone who can impact your success
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A “Personal Question”
Public Relations – The Missing Sales Link
Hyundai Genesis Mercedes-Benz CLS
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Public Relations – The Missing Sales Link
The Hyundai is a demonstrably better car for half the price…
A “Personal Question”
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Public Relations – The Missing Sales Link
Hyundai Genesis Mercedes-Benz CLS
Most people pick the Mercedes because it has the reputation…
A “Personal Question”
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Public Relations – The Missing Sales Link
You can’t sell anything without a good
reputation.
A “Personal Question”
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You can’t sell anything without a good reputation
Public Relations – The Missing Sales Link
2010 U.S. Reputation Pulse Study:Comparing Top 10 to Bottom 10 companies measured in study, general pubic is:
• 300 percent more likely to verbally support or give the benefit of the doubt
• 200 percent more likely to consider products
• 350 percent more likely to purchase products of highly regarded companies
http://bit.ly/repreport2010
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You can’t sell anything without a good reputation
Public Relations – The Missing Sales Link
What makes up your reputation?• Products/Services
• Innovation
• Governance
• Workplace
• Citizenship
• Leadership
• Performance
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You can’t sell anything without a good reputation
Public Relations – The Missing Sales Link
What makes up your reputation?• Are you known for providing the features
your customers want (have you been listening to the customers)?
• Are you known by town officials for adhering to rules, keeping a safe and clean site and being a good citizen (changing from
age-restricted to age-targeted)?
• Are you known by townspeople as bringing somethingpositive to the town and being a good citizen (the diner scenario)?
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You can’t sell anything without a good reputation
Public Relations – The Missing Sales Link
They can’t know too much when it comes to your reputation.
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Tell your story yourself…
Public Relations – The Missing Sales Link
If you don’t tell your story,someone else will.
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Without communications, your reputation languishes
Public Relations – The Missing Sales Link
What should you communicate about?• What makes your company tick?
• USPs
• What makes your host community tick?
• Sustainability and other Issues
• Causes important to the community
• Problems
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Without communications, your reputation languishes
Public Relations – The Missing Sales Link
What shouldn’t you communicate about?Transparency doesn’t mean you can’t have secrets…
but you need to be able to justify them.
• “We don’t discuss individual customers, but I can tell youthat we stand behind our customers.”
• “We don’t discuss active litigation, but our company adheresto the letter and the spirit of the law.”
• “We’ve just become aware of the issue. We arecooperating with authorities and conducting our own investigation.”
• “As a publicly held company, we do not release that information. What I can tell you is…”
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Tell your story yourself…
Public Relations – The Missing Sales Link
Where do you tell your story?
Go fishing where thefish are.
Rememberto listen.
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Tell your story yourself…
Public Relations – The Missing Sales Link
How do you tell your story?Traditional Channels
• Events• News media
• Direct traditional mail• Political involvement
• Advertisements/Advertorials
• Demonstrations• Support local charities
Social Networking Channels
• Tweets • Facebook Posts
• Blogs• Optimized news releases• Search Engine Marketing
• Web sites• PPC Campaigns
• Webinars• Videos
• Geo-tagging
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Tell your story yourself…
Public Relations – The Missing Sales Link
How do you tell your story?Integrated Tactics
• Consistent message points
• Direct to various Web pages from many sources
• Offer printed materials (paper and PDF)
• Use QRs on printed material
• Ask for fans
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Tell your story yourself…
Public Relations – The Missing Sales Link
Your PR counsel will pull it together
• Listen and learn about your business objectives
• Test your assumptions with objective research
• Create a strategy based on your business strategy
• Suggest tactics, then execute the plan
• Counsel you on your role in engaging those people
• Measure the results
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Public Relations – The Missing Sales Link
Summation
Public Relations counselis an important arrow in your quiverif you’re going to hit your numbers.
• You can’t sell anything without a good reputation.
• Without good communications, the best reputation languishes.
• Tell your story yourself…they’re talking about you anyway.
• Public relations and good reputations does not sell homes.Failure to engage, bad reputations prevents the sale of homes
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Social Media
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• Collection of more than 100 million video footage• 70 million Unique Users a month in the US – 6th largest
audience on the web
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Social Networking:Engaging Your Customer
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Social Networking 101
Public Relations – The Missing Sales Link
Nothing New Here
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Social Networking 101
Public Relations – The Missing Sales Link
A new business philosophy
• Not about Facebook, Twitter and blogs
• A philosophy of doing business that embraces today’s ideals and challenges of transparency, inclusion and advocacy
• No longer about control, it’s about engagement
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Social Networking 101
Public Relations – The Missing Sales Link
A new business philosophy• Groups vs. Individuals
• Control vs. engagement
• What you want them to know vs. What they can find out
• A few experts vs. Everybody’s opinion (informed or not)
• Short-term engagement vs. Forever
• Targeted vs. Everyone
• Private vs. Public
• Push vs. Pull
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Social Networking 101
Public Relations – The Missing Sales Link
What are they saying about yourbrand?
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Social Networking 101
Public Relations – The Missing Sales Link
Wish you could speakwith himabout yourbrand?
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Social Networking 101
Public Relations – The Missing Sales Link
• Facebook Post: “I gotta get my parents out of that old house.”
• Tweet: My furnace isn’t working and the homebuilder hasn’t answered my call.
• Blog: We’re thinking about adding smaller homes to the mix. What do you think?
• Google: Two-bedroom homes in Timbuktu
• News Report: Ace Builders plans new community in Kalamazoo (with video and pix)
• Four-Square: I’m at the new clubhouse at Tall Pines on the Lake
• I know you’re at the community in Timbuktu, but why can’t you tell me about Kalamazoo?
What Do We Get From It?
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Social Networking 101
Public Relations – The Missing Sales Link
What Should You Do About It?
• Take a deep breath and swallow hard
• Do what you do when you enter a room: Listen, look around, learn
• Engage
• Engage more
• Ask for help
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Sales Performance Management
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What Is Your Community Brand? How Do You Discover It?
• Surveyo Del Webb Lifestyle Advisor
launched July 2010.o Private dinners and gatheringso Focus groups
• Competitor Intelligenceo Who in your market is
competing well?o How do you compare to
others?o Identify individual USP’s for
each of your communities.o What is your competition
saying about you?
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It’s Time To Change
• Develop community ambassadors and advisors.
• Involve trade partners and stakeholders.
• Refresh your marketing path
• Develop new models based upon the needs and price points of your community.
• Are you going Green?
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Sales Management• Team events and motivational
meeting.
• Train, Train, Train.
• Hire a trainer-coach.
• Mystery-shop your sales team.
• Re-educate your sales team with new messages and new understanding of buyer’s desires.
• Develop new USP’s for the community and coach and train on objections.
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Randy Hix, MBA, CMP, CSPRandy Hix & Associates
Long Valley, NJ 07853973-670-9024
Cathie Daly, CAASHDesign East, Inc.Medford, NJ 08055Office: 609-654-9675Email: [email protected]: www.DesignEastInc.comCelebrating over 20 years of Interior Design & Merchandising Excellence
Dottie Fawcett, MIRMConstellation Web Solutionswww.constellationws.com610-364-0989dfawcett@constellationws.com
Doug Fenichel, APR(973) 769-0688
[email protected]: www.inhousepr.wordpress.com
Twitter: @dougtheprguy#revivemy55