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GenY & Why Redfin Works

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Glenn Kelman of Redfin Pimpin’ GenY

Glenn Kelman, big pimpin’
photo credit:redfinpics


Who Is Generation Y?

According to Dr. Timothy Clark over on Phil Gerbyshak’s Make It Great! Blog:

If you were born between 1980 and 1995, you’re a member of generation Y. At 70 million strong, you’re part of the largest demographic cohort since the Baby Boomers. You are the incumbents to leadership in our society.

I have some insight into what Generation Y is all about because I am a member of GenY and here is my confession… Generation Y is a group of spoiled brats who have parents that coddled them that lends to the GenY sense of entitlement (well, all parents but mine apparently… “you’re not bleeding from your skull, you’re fine- go play”). Any business that can capitalize on my generation’s sense of “I should have it because I’m special and people like me” mentality will surely succeed.

Why Will Redfin Work?

I’ve said before and I’ll say it again- I like Redfin, they are smart. Although Glenn Kelman is “revolutionizing” the real estate industry, he is party of a different generation. Boo! But wait, isn’t every single person who designs clothes, designates what the cool handbag is this season, publishes our trendy magazines and designs our Internet software platforms (Zuckerberg aside)? Yes, but who cares? They tell buyers and sellers that they are already smart and they don’t need a person to tell them they are stupid by advising them of what they can already find on their own via the web (which of course is what GenY feels like when they are advised on anything).

Generation Y Doesn’t Know Better

In college, I thought you had to pay a Realtor up front. I’ll admit it. I think many people are stupid like that. I thought that you had to have a really nice car to even meet up with a Realtor and that I had to have a printed file of my life’s financial history before they would even answer the phone and I could never afford a Realtor. I’ll get into why I had that perception in another article, but I assure you I wasn’t alone- my friends thought the same way.

Redfin taps into this ignorance and says, you don’t have to deal with that, you can do the search yourself in your undies without those mean people in your grill. The Redfin philosophy reinforces the belief of GenY that they (we) are entitled to information, even if it is someone’s livelihood- I should get it for free because I’m me. This is the same challenge kids are having as they enter the workforce- why am I not the boss, I deserve it?!?

Redfin Makes “News”

With the recent Redfin press release, several blogs have picked up on particular points of interest that add to my argument that Redfin is actually designed to appeal to GenY by using hip vernacular like “Redfin’s goal is to delight our audience of hard-core real estate fanatics by offering Freakish Depth on major real estate markets.” Kris Berg noted why this will work, “they, of course, endeavor to make money acting as agents while pretending to be something else – Freakishly hip innovators.” Why is that the successful nature of Redfin? GenY wants to be pumped up, we want to be in the sorority even if it means hazing (or paying out of pocket to see a house I’m not going to buy).

Dalton pontificates that “in some ways, though, the more Redfin moves toward the more traditional model, the lone differentiating factor becomes the rebate. Cool software is a plus but won’t necessarily drive the business since buyers are shopping for homes, not agents (pr in this case brokerages.)” This adds to why Redfin will work- taking something old and make it shiny and new (even if it’s not) is appealing to the generation of innovation. Call it innovative and the perception becomes that it is innovative.

Redfin Just Does It Well

This is nothing against Redfin, kudos to them. Kelman may be GenX, but his designers are GenY, many of his agents are, his clients are and his blog commenters are- smart cookie. Redfin is not the only company that is appealing to Generation Y, they just do it better than most. The timer has already been set for the bomb to go off in every sector of the business world- we’re not talking about commissions here or which “business model” is best, we’re talking about the future of business and how the entire landscape will look in this generation of empowerment… the viral message is already spreading.


The takeaway is this- Generation Y is an indulgent, self-important, ego-centric group with a sense of entitlement and it is extremely unfortunate and I am ashamed. Granted, I’m on the cusp of the GenY group, I still am a card-carrying member (although I feel that the group really begins at 1977, not 1980). As an insider, I can tell you that GenY falls for wants jazzy words and being made to feel special, so all you really have to do to cater to GenY is tell them they’re special, that you’re stupid and they’re not, and give them shiny buttons on your website and offer them $100 at closing as a rebate. Real estate isn’t in trouble, ALL business is. Call me pessimistic, but I AM an insider.


UPDATE: comments are closed on this article but don’t dismay- the follow up article is open for your thoughts!

Lani is the Chief Operating Officer at The American Genius - she has co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

Business Marketing

The advertising overload strategy needs to stop, here’s why

(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 that 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

SEO: The Unsung Hero of Digital Marketing Success

(MARKETING) Despite sexier emerging trends, the reality is that you can’t build out a successful online presence and marketing strategy without SEO.

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SEO Analytics

If you want to win with digital marketing, you need to stop focusing all of your energy on TikTok and hot trends and instead emphasize some of the more foundational elements that make up successful marketing strategies. This includes search engine optimization (SEO).

Why SEO Matters in 2022 and Beyond

It’s easy to forget about SEO. It’s one of those staples of digital marketing and online business growth that’s been around for so long that we tend to lump it into the “has-been” bucket. But despite sexier emerging trends, the reality is that you can’t build out a successful online presence and marketing strategy without at least paying some attention to SEO.

Here are some specific reasons why it matters:

  • Organic search. Even in a world of paid traffic, organic search reigns supreme. It’s the traffic source that continues to give you clicks regardless of whether you’re footing the bill or not. It’s a free source of qualified traffic that’s interested in what you have to offer before they even click.
  • If a user continues to see your website and brand name pop up on Google, they’re going to assign a certain amount of authority and credibility to you. This can be leveraged to drive conversions.
  • Good UX. You can’t have good SEO without paying attention to intelligent UX and high-quality content. If you follow today’s SEO best practices, you’ll position your brand far ahead of your competitors.

We could list dozens of other reasons why SEO matters, but it basically comes down to these three things. If you can drive traffic, establish authority, and implement a compelling user experience that engages the right people at the right time with the right content, everything else is going to fall into place.

SEO

Tips for Mastering SEO

Understanding the importance of SEO is one thing. Now, how do you go about implementing a successful SEO strategy that propels your larger digital marketing efforts? Here are a few suggestions:

  1. Establish These 3 Pillars

It’s easy to get sidetracked with your SEO efforts. There are dozens (if not hundreds) of different tactics and techniques you can implement. But if you don’t start with the basics, everything else will be a waste of your time, energy, and effort.

Chain Reaction, an SEO company in Dubai, is a firm believer in what they call the three SEO pillars:

  • Technical. This is the boring part of SEO, but it has to get done. This includes tasks like fixing technical errors, using the proper URL structure, setting up the right website hierarchy, managing page speed, etc.
  • Content. While more exciting and creative than technical SEO, content is time-consuming and expensive (if outsourced). Having said that, it’s the fuel to any good SEO strategy. Without it, you aren’t going anywhere.
  • Authority. You need to tap into the authority of other websites to set your brand apart. The more you align with other trustworthy sites, the faster you’ll grow.

If you can win in each of these areas, everything else has a way of falling into place.

  1. Go Local

Did you know that 46 percent of all Google searches have local intent? Or that 88 percent of people who perform a local search visit or call the company within 24 hours?

Google is no longer reserved for high-level research or answering simple questions. People go to Google when they want to find a specific product or service in their area. The companies that prioritize local SEO are the ones that pop up in the search results. Make sure that’s you!

  1. Invest in Backlinks

Few things move the SEO “needle” quite like backlinks. When acquired from highly authoritative and relevant sites in your niche, they can amplify your results and prove your credibility. While you can wait to “earn” backlinks, it’s generally recommended that you take a more aggressive approach through strategies like guest blogging. 

  1. Analyze and Iterate

There’s no perfect SEO strategy. The rules are constantly changing and, as a result, so are the best practices. By constantly analyzing the data and studying analytics, you can identify when and where to optimize. An iterative approach like this is the key to being successful.

Putting it All Together

SEO doesn’t get nearly the same buzz as the latest social media trends or web design tactics. However, it’s arguably more important. Make 2022 the year that you invest in SEO for your business. It’s a decision that you won’t regret!

SEO is the unsung hero of digital marketing

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Business Marketing

Pay employees for their time, not only their work

(MARKETING) Yes, you still must pay employees for their time even if they aren’t able to complete their work due to restrictions. Time = Money.

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pay employees for their time

The COVID-19 pandemic has inspired a lot of insightful questions about things like our healthcare system, worldwide containment procedures, and about a billion other things that all deserve well-thought answers.

Unfortunately, it has also led to some of the dumbest questions of all time.

One such question comes courtesy of Comstock Mag, with the inquiry asking whether or not employees who show up on time can be deducted an hour’s pay if the manager shows up an hour later.

From a legal standpoint, Comstock Mag points out that employees participating in such activities are “engaged to wait”, meaning that – while they aren’t necessarily “working” – they are still on the clock and waiting for work to appear; in this case, the aforementioned “work” comes in the form of the manager or supervisor showing up.

In short: if the reason your employees aren’t working is that the precursor to completing the work for which you pay them is inaccessible, you still have to pay them for their time.

Morally, of course, the answer is much simpler: pay your employees for their time, especially if the reason they are unable to complete work is because you (or a subordinate) didn’t make it to work at the right time.

Certainly, you might be able to justify sending all of your employees home early if you run into something like a technology snag or a hiccup in the processes which make it possible for them to do their jobs – that would mean your employees were no longer engaged to wait, thus removing your legal obligation to continue paying them.

Then again, the moral question of whether or not cutting your employees’ hours comes into play here. It’s understandable that funds would be tight for the time being, but docking employees an hour of their work here or there due to problems that no one can control may cause them to resent you down the line when you need their support in return.

The real problem with this question is that, despite most people knowing that the answer should always be “pay them”, the sheer number of people working from home in the wake of worldwide closures and social distancing could muddy the water in terms of what constitutes the difference between being engaged to wait and simply burning time.

For example, an employee who is waiting for a meeting to start still fits the bill of “engaged to wait” even if the meeting software takes an extra half hour to kick in (or, worse yet, the meeting never happens), and docking them pay for timecard issues or other extenuating factors that keep them from their work is similarly disingenuous – and illegal.

There are a lot of unknowns these days, but basic human decency should never be up for debate – especially now.

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