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.

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Repositioning Your 55+ Community For Today's Market

  1. 1. 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
  2. 2. <ul><ul><li>Welcome and Introductions—Cathie Daly </li></ul></ul><ul><ul><li>Marketing and Sales Trends—Randy Hix </li></ul></ul><ul><ul><li>Merchandising Best Practices—Cathie Daly </li></ul></ul><ul><ul><li>Public Relations- Reputation Power—Doug Fenichel </li></ul></ul><ul><ul><li>Social Media—Dottie Fawcett </li></ul></ul><ul><ul><li>Social Networking—Doug Fenichel </li></ul></ul><ul><ul><li>Sales Performance Management—Randy Hix </li></ul></ul><ul><ul><li>Q & A—Cathie Daly </li></ul></ul>
  3. 3. Marketing and Sales Trends
  4. 4. 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. &quot;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. &quot; --Marci Alboher, Vice-President, Civic Ventures
  5. 5. 50+ Homebuyer Trends <ul><ul><li>Baby boomers will continue to work in jobs that provide high personal satisfaction. </li></ul></ul><ul><ul><li>Choosing not to move to seniors-only retirement communities. </li></ul></ul><ul><ul><li>Joining co-housing neighborhood where community’s socialization occurs. </li></ul></ul><ul><ul><li>Stay active by demanding more time for hobbies and volunteering from their employers. </li></ul></ul>
  6. 6. 50+ Homebuyer Trends <ul><ul><li>Encore careers </li></ul></ul><ul><ul><li>By 2030, the number of adults 65 or older will skyrocket to 72 million, from 40 million this year </li></ul></ul><ul><ul><li>Boomers are less likely to have pensions </li></ul></ul><ul><ul><li>Boomers' desire to continue working dovetails with an expected shortage of younger workers. </li></ul></ul><ul><ul><li>Fewer snowbirds </li></ul></ul>
  7. 7. 50+ Homebuyer Trends <ul><ul><li>Retirement is now viewed as a step along the life continuum. </li></ul></ul><ul><ul><li>Major goal for many in “Generation Bold” is leaving a financial legacy </li></ul></ul><ul><ul><li>Planning to age in place. </li></ul></ul>
  8. 8. Demands of the 50+ Homebuyer for their new home <ul><ul><li>Looking for safe urbanism. </li></ul></ul><ul><ul><li>Locations with affordable cost of living and quality healthcare, trumping warm climate. </li></ul></ul><ul><ul><li>Look for continuing education, culture, and active-lifestyle. </li></ul></ul><ul><ul><li>Golf course communities are out; conservation communities with passive green space and trails are in. </li></ul></ul>
  9. 9. Demands of the 50+ Homebuyer for their new home <ul><ul><li>More sophisticated style </li></ul></ul><ul><ul><li>Experiential environments </li></ul></ul>
  10. 10. Merchandising Best Practices
  11. 12. 50+ Market Yesterday
  12. 13. 50+ Market Today The profile of the 50+ Market has changed dramatically
  13. 14. Today – Home sizes and options purchased have decreased!
  14. 15. 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
  15. 16. Condo market has disappeared
  16. 17. Housing starts have decreased Sales of available specs have increased
  17. 18. New 50+ communities have diminished. Competition still exists
  18. 19. 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
  19. 20. Courtesy of: NAHB Market Research 83% of consumers as important! Consumer Audience
  20. 21. 2011 Merchandising Best Practices for Existing Communities
  21. 22. Furnished Floor Plans Ideal for Web and Brochures Create the Vision!
  22. 24. Furnished Color Rendered Floor Plan
  23. 25. Be future focused - Utilize a merchandiser for all product evaluation
  24. 26. BEFORE AFTER EXAMPLE OF PRODUCT ANALYSIS ½ WALL ½ WALL
  25. 27. BEFORE AFTER EXAMPLE OF PRODUCT ANALYSIS
  26. 28. LOOK THRU A NEW LENS ! HOW DOES YOUR ENVIRONMENT INFLUENCE YOUR SALES? <ul><ul><li>Model </li></ul></ul><ul><ul><li>Sales Center </li></ul></ul><ul><ul><li>Design Center Experience </li></ul></ul>
  27. 29. Consider the flexibility of today’s clubhouse
  28. 30. BEFORE AFTER
  29. 31. BEFORE AFTER
  30. 32. BEFORE AFTER
  31. 36. Schedule team site visits
  32. 37. SELL THAT HOUSE!
  33. 38. “ THE BIG PAYOFF” We can improve and increase business potential with design solutions that empower and meet budget guidelines Remember: Think outside the box!
  34. 39. Celebrating Over 20 Years of Interior Design and Merchandising Excellence
  35. 40. Public Relations: The Missing Sales Link
  36. 41. Fair Question: Who’s Doug Fenichel & Why Is He Saying These Things To You? <ul><ul><li>Accredited public relations practitioner </li></ul></ul><ul><ul><li>25 years of helping companies reinforce their reputation during times of change </li></ul></ul><ul><ul><li>10 years as public relations director for </li></ul></ul><ul><li>K. Hovnanian Homes </li></ul><ul><ul><li>Handled Coldwell Banker as main acct </li></ul></ul><ul><li>at public relations agency </li></ul><ul><ul><li>Expertise in using traditional and </li></ul></ul><ul><li>social media channels to tell your story </li></ul>Public Relations – The Missing Sales Link Scan for Doug’s bio
  37. 42. Today’s Lessons at a Glance: <ul><ul><li>Your most powerful sales tool is your good reputation </li></ul></ul><ul><ul><li>Without good communications, the best reputation </li></ul></ul><ul><li>languishes under a basket. </li></ul><ul><ul><li>Tell your story yourself…to the right people </li></ul></ul><ul><li>at the right time through the right channels </li></ul>Public Relations – The Missing Sales Link
  38. 43. Let’s define terms: Public Relations – The Missing Sales Link What is public relations? <ul><ul><li>Free publicity </li></ul></ul><ul><ul><li>Spin </li></ul></ul><ul><ul><li>News releases </li></ul></ul><ul><ul><li>Advertorials </li></ul></ul><ul><ul><li>Making things look good </li></ul></ul><ul><ul><li>Schmoozing </li></ul></ul>
  39. 44. Let’s define terms: Public Relations – The Missing Sales Link What is public relations? <ul><ul><li>A strategic part of an organization’s business plan </li></ul></ul><ul><ul><li>Protecting and building an organization’s reputation </li></ul></ul><ul><ul><li>Communicating with people and groups impacting success. </li></ul></ul>
  40. 45. Let’s define terms: Public Relations – The Missing Sales Link What is public relations? <ul><li>Bi-i-ig Toolbox </li></ul><ul><ul><li>Surveys and research </li></ul></ul><ul><ul><li>Help businesses define and tell their story </li></ul></ul><ul><ul><li>Determine who to engage and how to do it </li></ul></ul><ul><ul><li>Traditional and online media </li></ul></ul><ul><ul><li>Social networking tools </li></ul></ul><ul><ul><li>Special events </li></ul></ul><ul><ul><li>Advertising (controlled message) </li></ul></ul><ul><ul><li>Lots more </li></ul></ul><ul><li>Anything ethical that </li></ul><ul><li>helps build a relationship! </li></ul>
  41. 46. Let’s define terms: Public Relations – The Missing Sales Link What is public relations? <ul><li>Relationship with who? </li></ul><ul><ul><li>Current & Future Customers </li></ul></ul><ul><ul><li>Host community residents </li></ul></ul><ul><ul><li>Influencers </li></ul></ul><ul><ul><li>Trade Partners </li></ul></ul><ul><ul><li>Vendors </li></ul></ul><ul><ul><li>Local government officials </li></ul></ul><ul><ul><li>State & Fed rule makers/regulators </li></ul></ul><ul><ul><li>Media (traditional, online, bloggers) </li></ul></ul><ul><ul><li>Advocacy groups, good & bad </li></ul></ul><ul><ul><li>Employees </li></ul></ul><ul><ul><li>Others </li></ul></ul><ul><li>Anyone who can impact your success </li></ul>
  42. 47. A “Personal Question” Public Relations – The Missing Sales Link Hyundai Genesis Mercedes-Benz CLS
  43. 48. Public Relations – The Missing Sales Link The Hyundai is a demonstrably better car for half the price… A “Personal Question”
  44. 49. Public Relations – The Missing Sales Link Hyundai Genesis Mercedes-Benz CLS Most people pick the Mercedes because it has the reputation… A “Personal Question”
  45. 50. Public Relations – The Missing Sales Link You can’t sell anything without a good reputation. A “Personal Question”
  46. 51. You can’t sell anything without a good reputation Public Relations – The Missing Sales Link 2010 U.S. Reputation Pulse Study: <ul><li>Comparing Top 10 to Bottom 10 companies measured in study, general pubic is: </li></ul><ul><ul><li>300 percent more likely to verbally support or give the benefit of the doubt </li></ul></ul><ul><ul><li>200 percent more likely to consider products </li></ul></ul><ul><ul><li>350 percent more likely to purchase products of highly regarded companies </li></ul></ul>http://bit.ly/repreport2010
  47. 52. You can’t sell anything without a good reputation Public Relations – The Missing Sales Link What makes up your reputation? <ul><ul><li>Products/Services </li></ul></ul><ul><ul><li>Innovation </li></ul></ul><ul><ul><li>Governance </li></ul></ul><ul><ul><li>Workplace </li></ul></ul><ul><ul><li>Citizenship </li></ul></ul><ul><ul><li>Leadership </li></ul></ul><ul><ul><li>Performance </li></ul></ul>
  48. 53. You can’t sell anything without a good reputation Public Relations – The Missing Sales Link What makes up your reputation? <ul><ul><li>Are you known for providing the features </li></ul></ul><ul><li>your customers want (have you been listening to the customers)? </li></ul><ul><ul><li>Are you known by town officials for adhering to rules, keeping a safe and clean site and being a good citizen (changing from </li></ul></ul><ul><ul><li>age-restricted to age-targeted)? </li></ul></ul><ul><ul><li>Are you known by townspeople as bringing something </li></ul></ul><ul><li>positive to the town and being a good citizen (the diner scenario)? </li></ul>
  49. 54. 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.
  50. 55. Tell your story yourself… Public Relations – The Missing Sales Link If you don’t tell your story, someone else will.
  51. 56. Without communications, your reputation languishes Public Relations – The Missing Sales Link What should you communicate about? <ul><ul><li>What makes your company tick? </li></ul></ul><ul><ul><li>USPs </li></ul></ul><ul><ul><li>What makes your host community tick? </li></ul></ul><ul><ul><li>Sustainability and other Issues </li></ul></ul><ul><ul><li>Causes important to the community </li></ul></ul><ul><ul><li>Problems </li></ul></ul>
  52. 57. Without communications, your reputation languishes Public Relations – The Missing Sales Link What shouldn’t you communicate about? <ul><li>Transparency doesn’t mean you can’t have secrets… </li></ul><ul><li>but you need to be able to justify them. </li></ul><ul><ul><li>“ We don’t discuss individual customers, but I can tell you </li></ul></ul><ul><li>that we stand behind our customers.” </li></ul><ul><ul><li>“ We don’t discuss active litigation, but our company adheres </li></ul></ul><ul><li>to the letter and the spirit of the law.” </li></ul><ul><ul><li>“ We’ve just become aware of the issue. We are </li></ul></ul><ul><li>cooperating with authorities and conducting our own investigation.” </li></ul><ul><ul><li>“ As a publicly held company, we do not release that information. </li></ul></ul><ul><li>What I can tell you is…” </li></ul>
  53. 58. 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.
  54. 59. Tell your story yourself… Public Relations – The Missing Sales Link How do you tell your story? <ul><li>Traditional Channels </li></ul><ul><ul><li>Events </li></ul></ul><ul><ul><li>News media </li></ul></ul><ul><ul><li>Direct traditional mail </li></ul></ul><ul><ul><li>Political involvement </li></ul></ul><ul><ul><li>Advertisements/Advertorials </li></ul></ul><ul><ul><li>Demonstrations </li></ul></ul><ul><ul><li>Support local charities </li></ul></ul><ul><li>Social Networking Channels </li></ul><ul><ul><li>Tweets </li></ul></ul><ul><ul><li>Facebook Posts </li></ul></ul><ul><ul><li>Blogs </li></ul></ul><ul><ul><li>Optimized news releases </li></ul></ul><ul><ul><li>Search Engine Marketing </li></ul></ul><ul><ul><li>Web sites </li></ul></ul><ul><ul><li>PPC Campaigns </li></ul></ul><ul><ul><li>Webinars </li></ul></ul><ul><ul><li>Videos </li></ul></ul><ul><ul><li>Geo-tagging </li></ul></ul>
  55. 60. Tell your story yourself… Public Relations – The Missing Sales Link How do you tell your story? <ul><li>Integrated Tactics </li></ul><ul><ul><li>Consistent message points </li></ul></ul><ul><ul><li>Direct to various Web pages from many sources </li></ul></ul><ul><ul><li>Offer printed materials (paper and PDF) </li></ul></ul><ul><ul><li>Use QRs on printed material </li></ul></ul><ul><ul><li>Ask for fans </li></ul></ul>
  56. 61. Tell your story yourself… Public Relations – The Missing Sales Link Your PR counsel will pull it together <ul><li>Listen and learn about your business objectives </li></ul><ul><li>Test your assumptions with objective research </li></ul><ul><li>Create a strategy based on your business strategy </li></ul><ul><li>Suggest tactics, then execute the plan </li></ul><ul><li>Counsel you on your role in engaging those people </li></ul><ul><li>Measure the results </li></ul>
  57. 62. 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. <ul><ul><li>You can’t sell anything without a good reputation. </li></ul></ul><ul><ul><li>Without good communications, the best reputation languishes. </li></ul></ul><ul><ul><li>Tell your story yourself…they’re talking about you anyway . </li></ul></ul><ul><ul><li>Public relations and good reputations does not sell homes. </li></ul></ul><ul><li>Failure to engage, bad reputations prevents the sale of homes </li></ul>
  58. 63. Social Media
  59. 73. <ul><ul><li>Collection of more than 100 million video footage </li></ul></ul><ul><ul><li>70 million Unique Users a month in the US – 6 th largest audience on the web </li></ul></ul>
  60. 76. Social Networking: Engaging Your Customer
  61. 77. Social Networking 101 Public Relations – The Missing Sales Link Nothing New Here
  62. 78. Social Networking 101 Public Relations – The Missing Sales Link A new business philosophy <ul><ul><li>Not about Facebook, Twitter and blogs </li></ul></ul><ul><ul><li>A philosophy of doing business that embraces today’s ideals </li></ul></ul><ul><li>and challenges of transparency, inclusion and advocacy </li></ul><ul><ul><li>No longer about control, it’s about engagement </li></ul></ul>
  63. 79. Social Networking 101 Public Relations – The Missing Sales Link A new business philosophy <ul><ul><li>Groups vs. Individuals </li></ul></ul><ul><ul><li>Control vs. engagement </li></ul></ul><ul><ul><li>What you want them to know vs. What they can find out </li></ul></ul><ul><ul><li>A few experts vs. Everybody’s opinion (informed or not) </li></ul></ul><ul><ul><li>Short-term engagement vs. Forever </li></ul></ul><ul><ul><li>Targeted vs. Everyone </li></ul></ul><ul><ul><li>Private vs. Public </li></ul></ul><ul><ul><li>Push vs. Pull </li></ul></ul>
  64. 80. Social Networking 101 Public Relations – The Missing Sales Link What are they saying about your brand?
  65. 81. Social Networking 101 Public Relations – The Missing Sales Link Wish you could speak with him about your brand?
  66. 82. Social Networking 101 Public Relations – The Missing Sales Link <ul><ul><li>Facebook Post: “I gotta get my parents out of that old house.” </li></ul></ul><ul><ul><li>Tweet: My furnace isn’t working and the homebuilder hasn’t answered my call. </li></ul></ul><ul><ul><li>Blog: We’re thinking about adding smaller homes </li></ul></ul><ul><li>to the mix. What do you think? </li></ul><ul><ul><li>Google: Two-bedroom homes in Timbuktu </li></ul></ul><ul><ul><li>News Report: Ace Builders plans new community in Kalamazoo </li></ul></ul><ul><li>(with video and pix) </li></ul><ul><ul><li>Four-Square: I’m at the new clubhouse at Tall Pines on the Lake </li></ul></ul><ul><ul><li>I know you’re at the community in Timbuktu, </li></ul></ul><ul><li>but why can’t you tell me about Kalamazoo? </li></ul>What Do We Get From It?
  67. 83. Social Networking 101 Public Relations – The Missing Sales Link
  68. 84. Social Networking 101 Public Relations – The Missing Sales Link What Should You Do About It? <ul><ul><li>Take a deep breath and swallow hard </li></ul></ul><ul><ul><li>Do what you do when you enter a room: </li></ul></ul><ul><ul><li>Listen, look around, learn </li></ul></ul><ul><ul><li>Engage </li></ul></ul><ul><ul><li>Engage more </li></ul></ul><ul><ul><li>Ask for help </li></ul></ul>
  69. 85. Sales Performance Management
  70. 86. What Is Your Community Brand? How Do You Discover It? <ul><ul><li>Survey </li></ul></ul><ul><ul><ul><li>Del Webb Lifestyle Advisor launched July 2010. </li></ul></ul></ul><ul><ul><ul><li>Private dinners and gatherings </li></ul></ul></ul><ul><ul><ul><li>Focus groups </li></ul></ul></ul><ul><ul><li>Competitor Intelligence </li></ul></ul><ul><ul><ul><li>Who in your market is competing well? </li></ul></ul></ul><ul><ul><ul><li>How do you compare to others? </li></ul></ul></ul><ul><ul><ul><li>Identify individual USP’s for each of your communities. </li></ul></ul></ul><ul><ul><ul><li>What is your competition saying about you? </li></ul></ul></ul>
  71. 87. It’s Time To Change <ul><ul><li>Develop community ambassadors and advisors. </li></ul></ul><ul><ul><li>Involve trade partners and stakeholders. </li></ul></ul><ul><ul><li>Refresh your marketing path </li></ul></ul><ul><ul><li>Develop new models based upon the needs and price points of your community. </li></ul></ul><ul><ul><li>Are you going Green? </li></ul></ul>
  72. 88. Sales Management <ul><ul><li>Team events and motivational meeting. </li></ul></ul><ul><ul><li>Train, Train, Train. </li></ul></ul><ul><ul><li>Hire a trainer-coach. </li></ul></ul><ul><ul><li>Mystery-shop your sales team. </li></ul></ul><ul><ul><li>Re-educate your sales team with new messages and new understanding of buyer’s desires. </li></ul></ul><ul><ul><li>Develop new USP’s for the community and coach and train on objections. </li></ul></ul>
  73. 89. 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

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