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Three Twenty-Something Clients = $1Million in Sales in 30 Days

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hipster_24.jpgThere is a segment of our industry out there that really believes the status quo is the way to go in that the executive level 40 and up group is where it’s at- maybe it is, but you’re missing out on so much more.

Preface: In our market, home prices vary from starters in the $150s to step-up homes in the low $200s to $260s.  As with any market, it really depends on where you want to live.

My last three clients, all in their mid-twenties have amounted to just over $1Million in sales.  Looking at your client base the way you may look at your children may not be so profitable.  What I have found in my own personal business is that the twenty to thirty something crowd really is smarter- they really are savvy, but yes, they are raw in the sense that they have an idealistic approach to everything they do.  The plus generation looks at this crowd and tends to demean them whether they mean to or not.  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. 

So.  If you aren’t taking the internet seriously, and if you aren’t taking seriously that 20-30 something generation that calls you up knowing everything, you might be missing a valuable opportunity. 

SUGGESTION: If you are considering revamping your site and business online to reach out to a broader segment of the market, my suggestion is simple.  Hold your own focus group.  Sit down your last 10 buyers all at once and ask them about your business, their ideas, problems they had in home searching, and let them be your guide.   Be sure your group is a broad cross-segment of the market reaching from the 20s all the way up to the 50 & 60 somethings.  I’m sure they love pizza and soda, or rent a room at Dave & Busters to host it.  I would charge you big time to hold a focus group, but you can do it yourself.  The key is- ask questions then shut up and listen.  You may be surprised with what you hear and in saying that, have two other people from your firm on hand to quietly observe (seperately) and take notes only; compare notes the next day and add it all together (recording your session is also advised to clarify). Every market is different and looking nationally for your answer may take you down an expensive dead-end road.

If you want to zero in on this (20-30 something) demo specifically, call one of your local college professors and ask to borrow some of their students- “Will give opinions for ramen or beer money.”

Get out of your box before it collapses in on you. 

[photo / Brandon Martin-Anderson]  Spend some time over at www.thatotherpaper.com really fun reads…

Benn Rosales is the Founder and CEO of The American Genius (AG), national news network for tech and entrepreneurs, proudly celebrating 10 years in publishing, recently ranked as the #5 startup in Austin. Before founding AG, he founded one of the first digital media strategy firms in the nation and also acquired several other firms. His resume prior includes roles at Apple and Kroger Foods, specializing in marketing, communications, and technology integration. He is a recipient of the Statesman Texas Social Media Award and is an Inman Innovator Award winner. He has consulted for numerous startups (both early- and late-stage), has built partnerships and bridges between tech recruiters and the best tech talent in the industry, and is well known for organizing the digital community through popular monthly networking events. Benn does not venture into the spotlight often, rather believes his biggest accomplishments are the talent he recruits, develops, and gives all credit to those he's empowered.

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5 Comments

5 Comments

  1. Austin Realtor's Wife

    June 15, 2007 at 8:45 pm

    Strange- you weren’t even in the office when BawldGuy.com and I were on the phone talking about a similar topic today- it’s too bad that a great many Realtors snub their noses at people in their 20s and 30s!

    We are part of the “research generation” because we’ve had the Internet for all of our adult lives. We have an idea of what we want, but we need a specialist to guide us in the right direction (and affirm us as you mentioned). 20/30 year olds can bounce back from failed investments better than a 50/60 year old AND 20s/30s have DISPOSABLE INCOME (aka many are without kids, boats, land, homes, investments, medical bills, debt, parents in nursing homes, etc).

    Great article- this is one of my pet peeves and you’ve nailed it. New Realtors should take notes!

  2. Vicki Moore

    October 14, 2007 at 12:02 am

    Another reality to take notes on is that the young and newly ultra rich look like everyone else. The pre-IPO winners are incredibly wealthy and incredibly normal. If you make the assumption that the guy in the torn jeans, long hair and Prius doesn’t have any money to buy a house, you’d better think again.

  3. Toby Boyce

    January 6, 2009 at 12:04 pm

    I am going to agree with you very much Benn.

    I’ve been working with a lot of the twenty-somethings right now. Have two in contract, one set to buy, and another clearing up a few things. Granted, the price point is a bit different – all four will probably get me about $350,000 in sales.

    But you know what, I’ll take that over sitting at home and doing nothing.

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Business Marketing

Marketing amidst uncertainty: 3 considerations

(BUSINESS MARKETING) As the end of the COVID tunnel begins to brighten, marketing strategies may shift yet again – here are three thoughts to ponder going into the future.

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Open business sign being held by business owner for marketing purposes.

The past year has been challenging for businesses, as operations of all sizes and types and around the country have had to modify their marketing practices in order to address the sales barriers created by the pandemic. That being said, things are beginning to look up again and cities are reopening to business as usual.

As a result, companies are looking ahead to Q3 with the awareness they need to pivot their marketing practices yet again. The only question is, how?

Pandemic Pivot 1.0: Q3 2020

When the pandemic disrupted global markets a year ago, companies looked for new ways to reach their clients where they were: At home, even in the case of B2B sales. This was the first major pivot, back when store shelves were empty care of panic shopping, and everyone still thought they would only be home for a few weeks.

How did this transition work? By building out more extensive websites, taking phone orders, and crafting targeted advertising, most companies actually survived the crisis. Some even came out ahead. With this second pivot, however, these companies will have to use what they knew before the pandemic, while making savvy predictions about how a year-long crisis may have changed customer behavior.

Think Brick And Mortar

As much as online businesses played a key role in the pandemic sales landscape, as the months wore on, people became increasingly loyal to local, brick and mortar businesses. As people return to their neighborhood for longer in-person adventures, brands should work on marketing strategies to further increase foot traffic. That may mean continuing to promote in-store safety measures, building a welcoming online presence, and developing community partnerships to benefit from other stores’ customer engagement efforts.

Reach Customers With PPC

Obviously brick and mortar marketing campaigns won’t go far for all-online businesses, but with people staying at home less, online shops may have a harder time driving sales. Luckily, they have other tools at their disposal. That includes PPC marketing, one of the most effective, trackable advertising strategies.

While almost every business already uses some degree of PPC marketing because of its overall value, but one reason it’s such a valuable tool for businesses trying to navigate the changing marketplace is how easy it is to modify. In fact, best practice is to adjust your PPC campaign weekly based on various indicators, which is what made it a powerful tool during the pandemic as well. Now, instead of using a COVID dashboard to track the impact of regulations on ad-driven sales, however, companies can use PPC marketing to see how their advertising efforts are holding up to customers’ rapidly changing shopping habits.

It’s All About The Platforms

When planning an ad campaign, what you say is often not as important as where you say it – a modern twist on “the medium is the message.” Right now, that means paying attention to the many newer platforms carrying innovative ad content, so experiment with placing ads on platforms like TikTok, Reddit, and NextDoor and see what happens.

One advantage of marketing via smaller platforms is that they tend to be less expensive than hubs like Facebook. That being said, they are all seeing substantial traffic, and most saw significant growth during the pandemic. If they don’t yield much in the way of results, losses will be minimal, but given the topical and local targeting various platforms allow for, above and beyond standard PPC targeting, they could be just what your brand needs as it navigates the next set of marketplace transitions.

The last year has been unpredictable for businesses, but Q3 2021 may be the most uncertain yet as everyone attempts to make sense of what normal means now. The phrase “new normal,” overused and awkward as it is, gets to the heart of it: we can pretend we’re returning to our pre-pandemic lives, but very little about the world before us is familiar, so marketing needs a “new normal,” too.

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Business Marketing

Advertising overload: Let’s break it down

(BUSINESS MARKETING) A new study finds that frequent ads are actually more detrimental to a brand’s image than that same brand advertising near offensive content.

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Advertising spread across many billboards in a city square.

If you haven’t noticed, ads are becoming extremely common in places that are extremely hard to ignore—your Instagram feed, for example. Advertising has certainly undergone some scrutiny for things like inappropriate placement and messaging over the years, but it turns out that sheer ad exhaustion is actually more likely to turn people off of associated brands than the aforementioned offensive content.

Marketing Dive published a report on the phenomenon last Tuesday. The report claims that, of all people surveyed, 32% of consumers said that they viewed current social media advertising to be “excessive”; only 10% said that they found advertisements to be “memorable”.

In that same group, 52% of consumers said that excessive ads were likely to affect negatively their perception of a brand, while only 32% said the same of ads appearing next to offensive or inappropriate content.

“Brand safety has become a hot item for many companies as they look to avoid associations with harmful content, but that’s not as significant a concern for consumers, who show an aversion to ad overload in larger numbers,” writes Peter Adams, author of the Marketing Dive report.

This reaction speaks to the sheer pervasiveness of ads in the current market. Certainly, many people are spending more time on their phones—specifically on social media—as a result of the pandemic. However, with 31% and 27% of surveyed people saying they found website ads either “distracting” or “intrusive”, respectively, the “why” doesn’t matter as much as the reaction itself.

It’s worth pointing out that solid ad blockers do exist for desktop website traffic, and most major browsers offer a “reader mode” feature (or add-on) that allows users to read through things like articles and the like without having to worry about dynamic ads distracting them or slowing down their page. This becomes a much more significant issue on mobile devices, especially when ads are so persistent that they impact one’s ability to read content.

Like most industries, advertisers have faced unique challenges during the pandemic. If there’s one major takeaway from the report, it’s this: Ads have to change—largely in terms of their frequency—if brands want to maintain customer retention and loyalty.

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Business Marketing

7 simple tips to boost your customer loyalty online

(BUSINESS MARKETING) Without a brick-and-mortar store, building rapport and customer loyalty can be a challenge, but you can still build customer loyalty online.

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Man and woman at kitchen table online shopping on laptop together, boosting customer loyalty.

With many businesses – both big and small – operating online, there are less opportunities for building those face-to-face relationships that exist in brick and mortar stores. According to smallbizgenius, 65% of the company’s revenue comes from existing customers.

It’s important to keep in mind the different tactics at your disposal for increasing customer loyalty. Noupe recently released a list of actionable tips for increasing this loyalty. Let’s examine these ideas and expand on the best.

  1. Keep your promises – Stay true to what you’ve agreed to, obviously contractually, but stay true to your company values as well. Even if you feel you’ve built a good loyalty where there is room to take a step back, don’t rest on your laurels and be sure to remain consistent. If you’ve provided a good experience, keep that going. The only change that should happen is in it getting better.
  2. Stay in communication – In addition to the ever-so-vital social media platforms, consider creating an email newsletter to stay in touch with your customers. Finding ways to have them keep you in mind should be at the front of your mind. By reaching out and being friendly, this will help retain their business.
  3. Be flexible with payments – No, don’t sell yourself short, but consider installment plans for pricier items or services. This will help customers feel more at ease when their wallet’s health is at stake.
  4. Reward programs – Consider allowing customers to accrue loyalty points in exchange for a freebie. The old punch card method is still an incredibly popular concept, and is a great way to keep people coming back. The cost associated with giving something away for free will be minimal in comparison to loyalty you receive in order for the customer to get to that point. Make sure that what a customer is putting in is about equal to what they’re getting out of it (i.e. don’t have a customer spend $100 in order to get $1 off their next purchase). If all of this proves successful, this can eventually be expanded by creating VIP levels.
  5. Prioritize customer service – A first impression is everything. By prioritizing customer service, you can help shape the narrative of the customer and how they view your business. This splinters off into them giving good word of mouth recommendations to friends and family. Be sure to keep positive customer service as the forefront of your mind, as giving a bad review is just as easy – or even easier – as giving a good review.
  6. Value feedback – Allow customers a space to provide their feedback, either on your website or on social media. Find out what brought them to you and gage how their experience was. Be sure to thank them for their feedback and take it into consideration. Feedback – both good and bad – can be vital in helping shape a business.
  7. Avoid laziness – Stay sharp at all times. Don’t treat all customers as nothing but currency. Include personalized touches wherever you can. This will make all of the difference.

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