Repositioning Your 55+ Community For Today's Market
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Repositioning Your 55+ Community For Today's Market

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Slides from a panel at the International Builders Convention on Repositioning 55+ Communities for Todays Market.

Slides from a panel at the International Builders Convention on Repositioning 55+ Communities for Todays Market.

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Repositioning Your 55+ Community For Today's Market Repositioning Your 55+ Community For Today's Market Presentation Transcript

  • International Builders Show Friday, January 14, 2011 Orlando, Florida Cathie Daly, President -- Design East Inc. Dottie Fawcett, MIRM -- Constellation Web Solutions Douglas Fenichel, APR – Pulse Communications Randy Hix, MBA, CMP, CSP – Randy Hix & Associates
      • 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
  • Marketing and Sales Trends
  • Baby Boomers Next Act Generation 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
  • 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.
  • 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
  • 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.
  • 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.
  • Demands of the 50+ Homebuyer for their new home
      • More sophisticated style
      • Experiential environments
  • Merchandising Best Practices
  •  
  • 50+ Market Yesterday
  • 50+ Market Today The profile of the 50+ Market has changed dramatically
  • Today – Home sizes and options purchased have decreased!
  • 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 Feet 2007- 2495 Square Feet 2008- 2320 Square Feet 7% smaller Trend Size
  • Condo market has disappeared
  • Housing starts have decreased Sales of available specs have increased
  • New 50+ communities have diminished. Competition still exists
  • Courtesy of: NAHB Market Research If you were buying a new house, how much importance would you put on these factors? 9% of builders weighted it as important Builder Audience
  • Courtesy of: NAHB Market Research 83% of consumers as important! Consumer Audience
  • 2011 Merchandising Best Practices for Existing Communities
  • Furnished Floor Plans Ideal for Web and Brochures Create the Vision!
  •  
  • Furnished Color Rendered Floor Plan
  • Be future focused - Utilize a merchandiser for all product evaluation
  • BEFORE AFTER EXAMPLE OF PRODUCT ANALYSIS ½ WALL ½ WALL
  • BEFORE AFTER EXAMPLE OF PRODUCT ANALYSIS
  • LOOK THRU A NEW LENS ! HOW DOES YOUR ENVIRONMENT INFLUENCE YOUR SALES?
      • Model
      • Sales Center
      • Design Center Experience
  • Consider the flexibility of today’s clubhouse
  • BEFORE AFTER
  • BEFORE AFTER
  • BEFORE AFTER
  •  
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  • Schedule team site visits
  • SELL THAT HOUSE!
  • “ THE BIG PAYOFF” We can improve and increase business potential with design solutions that empower and meet budget guidelines Remember: Think outside the box!
  • Celebrating Over 20 Years of Interior Design and Merchandising Excellence
  • Public Relations: The Missing Sales Link
  • 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
  • Today’s Lessons at a Glance:
      • Your most powerful sales tool is your good reputation
      • Without good communications, the best reputation
    • languishes 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
  • 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
  • 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.
  • 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!
  • 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
  • A “Personal Question” Public Relations – The Missing Sales Link Hyundai Genesis Mercedes-Benz CLS
  • Public Relations – The Missing Sales Link The Hyundai is a demonstrably better car for half the price… A “Personal Question”
  • Public Relations – The Missing Sales Link Hyundai Genesis Mercedes-Benz CLS Most people pick the Mercedes because it has the reputation… A “Personal Question”
  • Public Relations – The Missing Sales Link You can’t sell anything without a good reputation. A “Personal Question”
  • 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
  • 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
  • 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 something
    • positive to the town and being a good citizen (the diner scenario)?
  • 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.
  • Tell your story yourself… Public Relations – The Missing Sales Link If you don’t tell your story, someone else will.
  • 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
  • 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 you
    • that we stand behind our customers.”
      • “ We don’t discuss active litigation, but our company adheres
    • to the letter and the spirit of the law.”
      • “ We’ve just become aware of the issue. We are
    • cooperating with authorities and conducting our own investigation.”
      • “ As a publicly held company, we do not release that information.
    • What I can tell you is…”
  • Tell your story yourself… Public Relations – The Missing Sales Link Where do you tell your story? Go fishing where the fish are. Remember to listen.
  • 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
  • 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
  • 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
  • Public Relations – The Missing Sales Link Summation Public Relations counsel is an important arrow in your quiver if 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
  • Social Media
  •  
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  •  
  •  
  •  
  •  
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      • Collection of more than 100 million video footage
      • 70 million Unique Users a month in the US – 6 th largest audience on the web
  •  
  •  
  • Social Networking: Engaging Your Customer
  • Social Networking 101 Public Relations – The Missing Sales Link Nothing New Here
  • 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
  • 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
  • Social Networking 101 Public Relations – The Missing Sales Link What are they saying about your brand?
  • Social Networking 101 Public Relations – The Missing Sales Link Wish you could speak with him about your brand?
  • 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?
  • Social Networking 101 Public Relations – The Missing Sales Link
  • 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
  • Sales Performance Management
  • What Is Your Community Brand? How Do You Discover It?
      • Survey
        • Del Webb Lifestyle Advisor launched July 2010.
        • Private dinners and gatherings
        • Focus groups
      • Competitor Intelligence
        • Who in your market is competing well?
        • How do you compare to others?
        • Identify individual USP’s for each of your communities.
        • What is your competition saying about you?
  • 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?
  • 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.
  • Randy Hix, MBA, CMP, CSP Randy Hix & Associates Long Valley, NJ 07853 973-670-9024 www.RandyHix.net [email_address] Cathie Daly, CAASH Design East, Inc. Medford, NJ  08055 Office:  609-654-9675 Email:   [email_address] Website:   www.DesignEastInc.com Celebrating over 20 years of Interior Design & Merchandising Excellence Dottie Fawcett, MIRM Constellation Web Solutions www.constellationws.com 610-364-0989 [email_address] Doug Fenichel, APR (973) 769-0688 [email_address] Blog: www.inhousepr.wordpress.com Twitter: @dougtheprguy #revivemy55