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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

How a Facebook boycott ended up benefitting Snapchat and Pinterest

(MARKETING) Businesses are pulling ad spends from Facebook following “Stop Hate for Profit” social media campaign, and Snapchat and Pinterest are profiting from it.

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Phone in hand open to social media, coffee held in other hand.

In June, the “Stop Hate for Profit” campaign demanded social media companies be held accountable for hate speech on their platforms and prioritize people over profit. As part of the campaign, advertisers were called to boycott Facebook in July. More than 1,000 businesses, nonprofits, and other consumers supported the movement.

But, did this movement actually do any damage to Facebook, and who, if any, benefited from their missing revenue profits?

According to The Information, “what was likely crumbs falling from the table for Facebook appears to have been a feast for its smaller rivals, Snap and Pinterest.” They reported that data from Mediaocean, an ad-tech firm, showed Snap reaped the biggest benefit of the 2 social media platforms during the ad pause. Snapchat’s app saw advertisers spending more than double from July through September compared to the same time last year. And, although not as drastic, Pinterest also saw an increase of 40% in ad sales.

As a result, Facebook said its year-over-year ad revenue growth was only up 10 percent during the first 3 weeks of July. But, the company expects its ad revenue to continue that growth rate in Q3. And, some people think that Facebook is benefitting from the boycott. Claudia Page, senior vice president, product and operations at Vivendi-owned video platform Dailymotion said, “All the boycott did was open the marketplace so SMBs could spend more heavily. It freed-up inventory.”

Even CNBC reported that Wedbush analysts said in a note that Facebook will see “minimal financial impact from the boycotts.” They said about $100 million of “near term revenue is at risk.” And for Facebook, this represents less than 1% of the growth in Q3. However, despite what analysts say, there is still a chance for both Snapchat and Pinterest to hold their ground.

Yesterday, Snap reported their surprising Q3 results. Compared to the prior year, Snap’s revenue increased to $679 million, up 52% from 2019. Its net loss decreased from $227 million to $200 million compared to last year. Daily active users increased 18% year-over-year to 249 million. Also, Snap’s stock price soared more than 22% in after-hours trading. Take that Facebook!

In a prepared statement, Chief Business Officer Jeremi Gorman said, “As brands and other organizations used this period of uncertainty as an opportunity to evaluate their advertising spend, we saw many brands look to align their marketing efforts with platforms who share their corporate values.” As in, hint, hint, Facebook’s summer boycott did positively affect their amazing Q3 results.

So, Snapchat and Pinterest have benefited from the #StopHateForProfit campaign. Snapchat’s results show promising optimism that maybe Pinterest might fare as well. But, of course, Facebook doesn’t think they will benefit much longer. Back in July, CEO Mark Zuckerberg told his employees, “[his] guess is that all these advertisers will be back on the platform soon enough.”

Facebook isn’t worried, but I guess we will see soon enough. Pinterest is set to report its Q3 results on October 28th and Facebook on the 29th.

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Business Marketing

Cooler temps mean restaurants have to get creative to survive

(BUSINESS MARKETING) In the midst of a pandemic and with winter approaching, restaurants are starting to find creative and sustainable ways to keep customers coming in… and warm.

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Outdoor eating at restaurants grows in popularity.

Over the last decade we have seen a change in the approach to clientele experiences in the restaurant business. It’s no longer just about how good your food is, although that is still key. Now you have to give your customers an experience to remember. There are now restaurants that feed you in the dark, and others who require you to check all your clothes at the door. Each of these provides an experience to remember alongside food that ranges from good to exquisite, depending on your taste.

Now, however, the global pandemic has rearranged how we think about dining. We can no longer just shove people into a building and create a delectable meal. If you’ve relied mostly on people coming into your restaurant, you may struggle to survive now.

The new rules of keeping clients safe means setting things up outside is the easiest means of keeping large numbers of them from crowding inside. Because of this, weather has become a key influence in a company’s daily income. Tents that were a gimmick before, only needed by presumptuous millennials, are now a requirement to keep afloat. People are rushing to make their yards into lawns that bring some in some fancy feeling.

The ties to the sun in some areas are so strong that cloudy days have been shown to drop attendance as much as 14% for the day. This will become the more apparent the colder it gets. For me, I always mention hibernation weight in the winter, when all I want to do is curl up and eat at home. Down here in Texas we are already finding cooler weather, drops into the 70s even in August and September. We are all assuming a cold winter ahead. So, a bit of foresight is finding a means of keeping your guests warm for the winter ahead.

San Francisco restaurants have started with heat lamps during their cooler evenings. Fiberglass igloos have also been added to outdoor seating as a means of temperature control. A few places down in the Lonestar state keep roaring fires going for their outdoor activities. While others actually keep you running in between beverages by encouraging volleyball matches. This is the new future ahead of us, and being memorable is the way to go.

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Business Marketing

Healthcare during pandemic goes virtual, looks to stay that way

(BUSINESS NEWS) Employment-based health insurance has already been through the ringer with COVID-19, but company healthcare options are adapting for long term.

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Stethoscope with laptop, showing healthcare going virtual.

Changes in employment-based health insurance may end up costing employers more, but will provide crucial benefits to workers responding to the healthcare challenges presented by the COVID-19 pandemic.

According to a recent survey by the Business Group on Health, a member-driven advocacy organization that helps large employers navigate providing health insurance to their employees, businesses will increase access to telehealth, mental health resources, and on-site clinics in the upcoming year.

Besides the obvious impacts of the coronavirus itself, the effects of the COVID-19 pandemic have also rippled out to affect other aspects of public health and how we engage with medical care. With so many people staying home to reduce their in-person contacts, there has been a significant increase in the use of telehealth services such as virtual doctor’s visits. According to the survey from Business Group on Health, whose members include 74 Fortune 100 companies, more than half of large employers will offer more options for virtual healthcare in the upcoming year than in the past.

The pandemic, resulting economic fallout, and dramatic changes to our lives have inevitably exacerbated peoples’ anxieties and feelings of hopelessness. As we move into cold weather, with no end in sight to the need to socially distance, this promises to be a particularly dreary, lonely winter. Mental health support will be more necessary than ever. In 2019, 73% of large employers provided virtual mental health services. That number will increase to 91% next year, with 45% of large employers also expanding their mental health care provider networks, making it easier for employees to find the right the therapist or other mental health service provider, and making it easier to access those services from home, virtually.

In addition, there will be a 20% increase in employers offering virtual emotional well-being services. Altogether, 9 out of 10 of the employers surveyed will provide online mental health resources, which, besides virtual appointments, could also include apps, webinars, and educational videos.

There has also been a slight increase the availability of on-site clinics that provide coronavirus testing and other basic health services. This also included an expansion of resources for prenatal care, weight management, and chronic health problems such as diabetes and cardiovascular disease.

These improvement won’t come free of charge. While deductibles will remain about the same, premiums and out-of-pocket costs will increase about 5%. In most cases, employers will handle these costs, rather than passing them on to employees.

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