This week, I wrote about Generation Y and created quite a bit of uproar in the comments section (which you will have to read in order to make sense of today’s article). Benn and I wrote the below article as a comment, but it organically snowballed into the article that you see before you. Comments are now closed at the previous post, so please let us hear your voice in the comments here.
A thesis IS a generalization
Bob, you’re right– I know it feels like we’re making broad generalizations (and we are), but hear us out. I wrote a 100 page senior thesis in college (yes, it was after the millenium) and had to defend it before a panel. The subject was African fiction and before that course, I had no insight into African fiction, language, or culture. After slaving for a year over this paper, my thesis was that despite glorified accounts of Shaka’s reign of the Zulu nation, he was actually a blood-thirsty killer, not a heroic leader who banded small nations against the large. This stance was not popular and contradicted the rosy depictions of the leader many of my classmates chose to take. I was the only student to have ever received an A in his class he had been teaching since like 1800. How did I achieve this? I thought differently, I examined all sides, and I made the generalization that Shaka was bad. Sure, he accomplished great things during his short reign as a “diplomat” but many people died gruesome deaths at his hands, so I generalized that he was not a good person. The point is that any thesis has to be based on a generalization, a broad hypothesis and yes, supported by factual evidence.
Generation Y still deserves great service
What is exciting to me about your comment is that you proved my thesis that GenY is ushering in an era of egocentrism- your client needed coddling, needed to be made to feel special, and needed you to connect the dots for him. That doesn’t mean he isn’t a valuable human being, that he isn’t actually smart/educated, or that he doesn’t deserve excellent customer service despite any baggage he brought to the table.
Hundreds of case studies prove my point
So where is my proof? I’m so glad you asked, Bob! 🙂 First, as I’ve said before, I’m a member of Generation Y. That means that not only am I basing my thesis on every day of my own life as a case study (as Benn said, I’m guilty of much of what I’ve posited above), I have many many friends my age that I associate with- people I went to high school and college with. Let’s just call my group of friends hundreds of independent case studies, shall we? Observing and interacting with hundreds of people my age including myself leads me to the conclusions I’ve outlined in my article.
Median ages differ between cities
Secondly, I think that in our business, we interact with a different demographic than you do. Although San Diego is a super hip place to live, the median age is 38 which is Generation X, not Generation Y. Austin’s median age is only 30. Added to the population are the University of Texas’ undocumented (meaning their permanent residency is not typically in Travis County) residents at roughly 50,000 students, St. Edward’s University (5,000 students), Hutson-Tillotson (600 students), Condordia University (2,000 students) and Southwestern University (1,300 students), totaling nearly 59,000 people who are living here, and often use real estate professionals for their housing. Because of this influx population, it’s my opinion that the actual median age of residents in Austin that real estate professionals interact with is lower than 30 making it more likely than not that when practicing ANY business in Austin, you’ll be dealing with Generation Y clients.
In previous comments, Benn was not attacking you, rather retooling the conversation to avoid the re-arguments about how stupid realtors are or about commission rebates. This was always intended to be an article about how real estate professionals (and all marketers for that matter) compete by getting to know more about the demographic they’re interacting with and will continue to interact with in the future.
Generation Y has been studied extensively
I wish I could make a zip file of every Agent Genius article written and just *poof* have it in your brain in a matter of seconds so you could see that we’ve been studying this new Generation since the dawn of our professional careers, one of which (Benn’s) is over 15 years in public relations. A good example of our studies is an article Benn wrote last June that addresses understanding GenY so marketers don’t miss out on the opportunity to work with that demographic:
“The perception is that they have no knowledge, no money and no focus- the way maybe you were when you were 20-something. The reality is, this modernized post teen makes more money than our parents did at a much younger age, and they’re investing. They’re asking great questions about the market and they just want validation of their knowledge.”
Bob, you noted that you simply responded to your client’s need for validation (again, proving my point) as you agreed with him that other agents are stupid and acknowledged how much you two are alike- you’re already courting the GenY demographic. In order for marketers to more fully understand GenY, there have been extremely detailed studies completed about GenY media consumption and the drastic trends toward Internet use over other media instead of news outlets, and about GenY’s use of social media. At the end of the page linked above, you will find the most concise summary of how to understand GenY that I’ve ever seen.
The Internet is changing everything
Also written this week on Agent Genius was an article about NAR that addressed the use of social media, noting from Wikipedia that “social media uses the “wisdom of crowds” to connect information in a collaborative manner. Social media can take many different forms, including Internet forums, message boards, weblogs, wikis, podcasts, pictures and video. Technologies such as blogs, picture-sharing, vlogs, wall-postings, email, instant messaging, music-sharing, group creation and voice over IP, to name a few…”
All that said, the majority of our business is now GenY creating even *more* case studies under the belt to base the thesis on.
GenY parents can’t see past their own rhetoric
Third, (and I am opining here) when you are a parent of the GenY generation (or old enough to have a GenY kiddo), it is hard to be taken out of the equation. My friends’ parents (you know, the ones who allowed viewing rated R movies at age 12, never gave curfews, gave exorbitant allowances without chores or tasks associated and never punishing slacking/drinking/backtalk) could never understand my article because they are the source of the problem I’m addressing. There, I said it. If someone spent the last 20 years telling someone “you’re special no matter what” and “don’t worry about working hard, you’ll be fine because the world owes you something because you’re from my loins and let’s watch Barney, you’re special,” it is impossible to recognize the symptoms of the disease they’ve caused.
GenY is going to HELL
But wait, is GenY going to hell, Lani? No!!! I’ve already pointed to the generous nature of GenY- literally everyone I know that is my age volunteers their time AND gives to charity without question; it’s normal. GenY, as we speak, is creating “charity” applications for Facebook and telling their friends about their Habitat for Humanity project this weekend- Kiva is a great example at the forefront of this generous GenY movement! Even Benn’s article last June noted that 3 GenY clients led to $1 million in sales in 30 days- there’s no underestimating GenY in our camp.
GenY is extremely intelligent which is why we are researchers. We know that we need to know *something* but the Internet is a blessing and a curse for reasons we’ve overdigested already (reach back to the “connect the dots” point of clients being overwhelmed). GenY is innovative- the bar is now set so high by 19 year olds that at age 26, I feel old and behind, hoping the younger of my generation will let me keep up! No matter the reason, GenY has huge dreams and is extremely ambitious.
The bottom line
Our mission here at Agent Genius is *not* to beat up on and call other Realtors stupid; many haven’t figured out yet why clients are falling off, callers are hanging up on them, breaking contracts, demanding free information, and are second guessing agents at every turn. We’re here trying to offer solutions, and why I think that Realtors could take a page from Redfin.
The takeaway is that GenY has a lot of baggage making us self-important, but watch out world- we’re here to make big changes because we’ve been empowered. In the meantime, this empowered feeling will make the jobs of people offering products and services complicated as we all finish scrambling to figure out Generation X while Generation Y is already influencing Generation Z.
Co-written, researched and opined by: Benn Rosales. If you have not read this and the previous article in their entirety, there is no need for you to comment.
Tired of “link in bio”? Here is a solution for Instagram linking
(MARKETING) The days of only one link in your Instagram bio are over. Alls.Link not only lets you link more, it gives you options for marketing and analytics too.
If you’re like me, you’ve probably swapped out the link in your Instagram bio 100 times. Do I share my website? A link to a product? A recent publication? Well, now you don’t have to choose!
Alls.Link is a subscription-based program that allows you to, among other things, have multiple links in your bio. I’m obsessed with the Instagram add-ons that are helping business owners to expand the platform to further engage their audiences – and this is NEEDED one.
With the basic membership ($8/month), you get up to 10 customizable Biolink Pages with shortened links (and you’ll be able to choose your own backend). You also get access to Google Analytics and Facebook Pixel for your pages. With the basic membership, you will have Alls.Link advertising on your Biolink Page. Plus, you’ll be allotted a total of 10 projects, and Biolink Pages with 20 customizable domains.
With the premium membership ($15/month), you get link scheduling for product drops and article releases, SEO and UTM parameters, and you’ll have the ability to link more socials on the Biolink Page. With this membership, you’re allotted 20 projects and Biolink Pages with 60 customizable domains.
If you’re unsure about whether or not Alls.Link is worth it (or which membership is best for you), there is a free trial option in which you’ll be granted all the premium membership capabilities.
Overall – premium membership or not – I have to say, the background colors and font choices are really fun and will take your Biolink Page to the next level. Alls.Link is definitely a program to consider if your business has a substantial Insta following and you have a lot of external material you want to share with your followers.
The day-by-day statistics are a great tool for knowing what your audience is interested in and what links are getting the most clicks. Also, the ability to incorporate Google Analytics into the mix is a big plus, especially if you’re serious about metrics.
If you have a big team (or manage multiple pages), I would suggest going premium just for the sheer quantity of domains you can customize and link, though there are various other reasons I’d also suggest to do so. Take a look and see what works for you!
Use the ‘Blemish Effect’ to skyrocket your sales
(MARKETING) The Blemish Effect dictates that small, adjacent flaws in a product can make it that much more interesting—is perfection out?
Presenting a product or service in its most immaculate, polished state has been the strategy for virtually all organizations, and overselling items with known flaws is a practice as old as time. According to marketing researchers, however, this approach may not be the only way to achieve optimal results due to something known as the “Blemish Effect.”
The Blemish Effect isn’t quite the inverse of the perfectionist product pitch; rather, it builds on the theory that small problems with a product or service can actually throw into relief its good qualities. For example, a small scratch on the back of an otherwise pristine iPhone might draw one’s eye to the glossy finish, while an objectively perfect housing might not be appreciated in the same way.
The same goes for mildly bad press or a customer’s pros and cons list. If someone has absolutely no complaints or desires for whatever you’re marketing, the end result can look flat and lacking in nuance. Having the slightest bit of longing associated with an aspect (or lack thereof) of your business means that you have room to grow, which can be tantalizing for the eager consumer.
A Stanford study indicates that small doses of mildly negative information may actually strengthen a consumer’s positive impression of a product or service. Interesting.
Another beneficial aspect of the Blemish Effect is that it helps consumers focus their negativity. “Too good to be true” often means exactly that, and we’re eager to criticize where possible. If your product or service has a noticeable flaw which doesn’t harm the item’s use, your audience might settle for lamenting the minor flaw and favoring the rest of the product rather than looking for problems which don’t exist.
This concept also applies to expectation management. Absent an obvious blemish, it can be all to easy for consumers to envision your product or service on an unattainable level.
When they’re invariably disappointed that their unrealistic expectations weren’t fulfilled, your reputation might take a hit, or consumers might lose interest after the initial wave.
The takeaway is that consumers trust transparency, so in describing your offering, tossing in a negative boosts the perception that you’re being honest and transparent, so a graphic artist could note that while their skills are superior and their pricing reasonable, they take their time with intricate projects. The time expectation is a potentially negative aspect of their service, but expressing anything negative improves sales as it builds trust.
It should be noted that the Blemish Effect applies to minor impairments in cosmetic or adjacent qualities, not in the product or service itself. Delivering an item which is inherently flawed won’t make anyone happy.
In an age where less truly is more, the Blemish Effect stands to dictate a new wave of honesty in marketing.
Google Chrome will no longer allow premium extensions
(MARKETING) In banning extension payments through their own platform, Google addresses a compelling, if self-created, issue on Chrome.
Google has cracked down on various practices over the past couple of years, but their most recent target—the Google Chrome extensions store—has a few folks scratching their heads.
Over the span of the next few months, Google will phase out paid extensions completely, thus ending a bizarre and relatively negligible corner of internet economy.
This decision comes on the heels of a “temporary” ban on the publication of new premium extensions back in March. According to Engadget, all aspects of paid extension use—including free trials and in-app purchases—will be gone come February 2021.
To be clear, Google’s decision won’t prohibit extension developers from charging customers to use their products; instead, extension developers will be required to find alternative methods of requesting payment. We’ve seen this model work on a donation basis with extensions like AdBlock. But shifting to something similar on a comprehensive scale will be something else entirely.
Interestingly, Google’s angle appears to be in increasing user safety. The Verge reports that their initial suspension of paid extensions was put into place as a response to products that included “fraudulent transactions”, and Google’s subsequent responses since then have comprised more user-facing actions such as removing extensions published by different parties that accomplish replica tasks.
Review manipulation, use of hefty notifications as a part of an extension’s operation, and generally spammy techniques were also eyeballed by Google as problem points in their ongoing suspension leading up to the ban.
In banning extension payments through their own platform, Google addresses a compelling, if self-created, issue. The extension store was a relatively free market in a sense—something that, given the number of parameters being enforced as of now, is less true for the time being.
Similarly, one can only wonder about which avenues vendors will choose when seeking payment for their services in the future. It’s entirely possible that, after Google Chrome shuts down payments in February, the paid section of the extension market will crumble into oblivion, the side effects of which we can’t necessarily picture.
For now, it’s probably best to hold off on buying any premium extensions; after all, there’s at least a fighting chance that they’ll all be free come February—if we make it that far.
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