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Theory Of Strategy for Realtors and Title Agents

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Realtors are becoming customer centric by adopting social media strategies and mobile applications.

Published in: Business, Technology, Real Estate

Theory Of Strategy for Realtors and Title Agents

  1. 1. WRIGHT STRATEGY ADVISORS The National Settlement Services Summit Cleveland, Ohio June 17, 2009
  2. 2. “ To Create and Keep Customers”… Therefore, successful companies are those who have created a CUSTOMER CENTRIC STRATEGY to acquire and retain customers.
  3. 3. According to Michael Porter… “ Strategy is the creation of a unique and valuable position…by choosing what not to do….and by creating fit among a company’s activities”
  4. 4. <ul><li>STRATEGY = Your Position in the Marketplace </li></ul><ul><ul><li>Makes it easy to find you and understand your value proposition </li></ul></ul><ul><li>UNIQUE = Different, Distinctive </li></ul><ul><ul><li>Doing different activities or doing similar activities differently </li></ul></ul><ul><li>VALUABLE = Remove Pain or Add Pleasure </li></ul><ul><ul><li>Solve a problem; save time/money; address fear/greed </li></ul></ul><ul><li>CHOOSE WHAT NOT TO DO = Focus and Discipline </li></ul><ul><ul><li>Or be generic and try to be all things to all people </li></ul></ul><ul><li>CREATE FIT = Align Company Activities </li></ul><ul><ul><li>Adopt a “customer-centric” framework </li></ul></ul><ul><li>COMPETITIVE ADVANTAGE = (Strategy/Position) + (Unique & Valuable) + (Choose What Not to Do) + (Customer Centric) + (Value Chain) </li></ul>
  5. 6. Customer-Centric-Social-Media
  6. 9. <ul><li>A Theory for Title Agents: </li></ul><ul><li>“ Do Unto Realtors As They Do Unto Their Clients” </li></ul>
  7. 10. <ul><li>Email </li></ul><ul><li>Voicemail </li></ul><ul><li>Text Message </li></ul><ul><li>Personal Websites </li></ul><ul><li>Personal Branding </li></ul><ul><li>Blogsites </li></ul><ul><li>Photos, Videos </li></ul><ul><li>PDF’s </li></ul><ul><li>Property Tours </li></ul><ul><li>Face Time </li></ul><ul><li>Always on Call </li></ul><ul><li>Survey, Follow Up </li></ul><ul><li>Facebook </li></ul><ul><li>Twitter </li></ul><ul><li>YouTube </li></ul><ul><li>Flickr </li></ul><ul><li>ActiveRain </li></ul><ul><li>RealTown </li></ul><ul><li>Trulia Voices </li></ul><ul><li>Zillow Conversations </li></ul><ul><li>Realtor Blogs </li></ul><ul><li>Cyberhomes </li></ul><ul><li>Realtor.com </li></ul><ul><li>Realtor.org </li></ul>
  8. 11. <ul><li>be…RELEVANT </li></ul><ul><ul><li>(don’t waste my time, add value) </li></ul></ul><ul><li>be…DIFFERENT </li></ul><ul><ul><li>(be a purple cow; better price, product or service) </li></ul></ul><ul><li>be…MEMORABLE </li></ul><ul><ul><li>(by remembering what’s important to me) </li></ul></ul><ul><li>be…SOCIAL </li></ul><ul><ul><li>(don’t be conspicuous by your absence) </li></ul></ul><ul><li>be…FOUND </li></ul><ul><ul><li>(LinkedIn; Facebook; Twitter; Blogs; Website; SEO) </li></ul></ul>
  9. 12. <ul><li>Can you solve a problem? </li></ul><ul><li>Can you create an opportunity? </li></ul><ul><li>Can you make it easier for me to do business with you? </li></ul><ul><li>Do you know what makes me happy? </li></ul>
  10. 13. <ul><li>Everyone wants my business </li></ul><ul><li>Everyone offers ‘great service’ </li></ul><ul><li>Everyone has the same ‘product & price’ </li></ul><ul><li>Are you a ‘Purple Cow’? </li></ul>
  11. 14. <ul><li>What’s important to ME </li></ul><ul><li>Forest Shadows ‘report card’ </li></ul><ul><ul><li>(my production with you) </li></ul></ul><ul><li>VPI birthday card </li></ul><ul><ul><li>(my anniversaries) </li></ul></ul><ul><li>Extra ‘touches’ </li></ul><ul><ul><li>(client reminders) </li></ul></ul><ul><li>After service surveys </li></ul><ul><ul><li>(I measure your service by my service standards) </li></ul></ul>
  12. 15. <ul><li>Get “Social” </li></ul><ul><li>Who are you? </li></ul><ul><li>Where are you? </li></ul><ul><li>Who’s in your network? </li></ul><ul><li>Who do we know in common? </li></ul><ul><li>What’s your reputation? </li></ul>
  13. 16. <ul><li>Where’s your website? </li></ul><ul><li>Be fresh and sticky </li></ul><ul><li>Optimize: SEO </li></ul><ul><li>Don’t be a needle / haystack </li></ul>
  14. 17. <ul><li>Social media platforms </li></ul><ul><li>Your Website or iPhone app with user tools </li></ul><ul><li>Blog into the Realtor community </li></ul><ul><li>Attend Realtor events </li></ul><ul><li>Go on ‘tour’ with Realtors </li></ul>
  15. 26. <ul><li>Virtual - but visual - offerings of your products and services to industry partners </li></ul><ul><li>Mobile access to your offerings with immediate response </li></ul><ul><li>Establishing your company’s brand, position, and reputation in the ‘virtual’ marketplace </li></ul><ul><li>Creating ‘communities’ of followers: customers, partners, employees </li></ul><ul><li>Leveraging social media applications </li></ul>
  16. 27. <ul><li>Trulia; Cyber; Zillow; Yahoo; Realtor.com </li></ul><ul><li>OCBreakingnews.com </li></ul><ul><li>Twitter.com </li></ul><ul><li>Slideshare.com </li></ul><ul><li>Flickr.com </li></ul><ul><li>Youtube.com </li></ul><ul><li>Facebook.com </li></ul><ul><li>Inman.com </li></ul><ul><li>Socialmediatoday.com </li></ul><ul><li>Ning.com </li></ul>
  17. 28. <ul><li>www.linkedin.com </li></ul><ul><li>www.facebook.com </li></ul><ul><li>www.twitter.com </li></ul><ul><li>Jump in and get started </li></ul><ul><li>Not just you; ‘socialize’ your company! </li></ul><ul><li>Appoint one staffer to spend 1 hour each day on your social sites </li></ul><ul><li>Experiment, have fun </li></ul>
  18. 30. Travis Wright Wright Strategy Advisors Customer-Centric-Social-Media [email_address] 281-217-2789

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