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You’re Just Mad You Didn’t Think of It – Redfin Scores

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Once again, the either luckiest or smartest front man of Redfin scores.  My thoughts on the interview and how he came off aside, you have to hand it to Glenn- the master of “say it differently.”  To understand why you’re a sore loser (if you’re even trying to counter Glenn as right or wrong) on the subject of science versus the real estate agent is simple-  here’s what I mean:

Everyone knows and has advised against setting a sales price too high; the best suggestion to a client is to simply price the home at or just above or below what you feel fair market value is.  The proof was this article by Daniel Rothamel where his list equated to a one liner –

the #1 way NOT to sell your home… 1) over price it. 

Now, Daniel is no scientist, and it amazes me that it would take one (a scientist) to repeat what Daniel and many many other agents have been telling clients for years.  But what makes what Glenn did utter brilliance is the delivery.  He simply repackaged something and allowed consumers to hear it in a newer, fresher way from someone other than an agent, and hey, he got to be on TV to say it again, and once more- here I am, repeating him!  There is a lot of truth in making news- it gets you business and I am sure Glenn did the team at Redfin a lot of good- success measured on many levels, a single new client would be a great success. 

What seems to have many up in arms is what came 2nd or 5th on Glenn’s list, but you forget what Daniel and others have said- there is no need for item 2-1 million if item #1 is addressed

1) price your home at fair market value

So in essence, Glenn could have said, standing on the corner in a hotdog suit will increase your odds of selling your home, and he would probably be correct.  Because your home is properly priced, you in a hotdog suit might get the attention of would-be buyers is just gravy.  I would also add that it is the Job of a Realtor to define ways to an owner that actually set their price over and above the neighbor and justify it in a winning fashion- that is the added value that was not mentioned on air…

So, h/t to Glenn, once again- you prove what a fun, simple, novel, approach to an old standard can become new again.  I also do not disagree with the craigslist notion, I simply disagree that most agents don’t do it.  I also am not sure about the Thursday/Monday notion.  I think it goes deeper then that. 

For example, in my market, we have a 1.5 week period of the month (I’ll not say which because that’s our own science) where buyers are more apt to search homes, and that period in our market has remained a constant regardless of the season or month of the last 3 years I’ve tracked it, but that period happens to at times cross a Monday, and even a Thursday.  So, in the interest of elevating conversations- study that in your market and drop me an email and tell me what you see- I think you will find that by being a bit more specific you will know exactly when to list.

Here is a check on my sincerity- you can pinch yourself, they’re real compliments.  I’m encouraging the entire RE.net to open a hand to Glenn and the cool folks at Redfin.  I think if you look deeply enough you’ll see they aren’t so different from many of us who want to elevate the business.  There’s room for Redfin at the table so long as Redfin can begin to recognize that some of the broad statements made about “all Realtors” might be a little much.

So, don’t be mad, and don’t hate- that won’t make you news worthy.  Why not instead take a hard look at your own strategy- are you reaching your target?  Are you saying things in a new way that gets attention?  Until you do, keep your eye on Glenn and the team at Redfin- they may give you the permission you need in your own model.

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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4 Comments

4 Comments

  1. Lani Anglin

    December 16, 2007 at 4:05 pm

    I couldn’t say it better. As much as I may disagree with methodology, I agree that his genius lies in making the old seem new.

  2. Mariana

    December 16, 2007 at 5:54 pm

    “I do not think that the practice of building ones business by dissing another is a good business foundation.” (Quoted from my other comment) Honestly, he said nothing that was wrong per se, but I was more bothered that he asserted that HE was the only one who knws these things.
    Oh well. He IS the one getting publicity …

  3. Brian Brady

    December 16, 2007 at 11:27 pm

    “There’s room for Redfin at the table so long as Redfin can begin to recognize that some of the broad statements made about “all Realtors” might be a little much.”

    Amen. If Redfin admits what they are; a limited-service, discount broker, they will go farther with their offering.

    Motel 6’s are packed, in both recessions and booms.

  4. Charleston real estate blog

    December 17, 2007 at 5:47 pm

    Benn, I haven’t read enough of your writing yet to know whether you’re poking a little fun at Glenn.

    Einstein did discover that pricing a home is critical to a successful sale. I’m glad Glenn and the rest of the scientists at redfin were able to confirm that discovery.

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Business Marketing

TINA.org is helping the FTC crack down on Kardashian-esque influencers

(MARKETING NEWS) The Kardashians are just five of the seemingly endless amounts of influencers companies are using for marketing but TINA.org is over their tactics.

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A brand could find no better influencers than the Kardashians – the family who proved that you can get famous just for, well, being famous. Each Kardashian sister has an astronomical number of followers, making them obvious trendsetters.

That’s why brands pay the Kardashian sisters – Kourtney, Kim, Khloé, Kendall, and Kylie — tens of thousands of dollars a pop to post pictures of themselves on social media using their products.

Perhaps you find it hard to believe that the Kardashians stop by Popeye’s Chicken to grab a to-go meal before boarding their private jet. Regardless, the Kardashians, and the brands who pay them to pump their products, would prefer that you believe that these endorsements reflect the Kardashian’s actual preferences, rather than the paychecks they receive for posting them.

The Kardashians have been attempting to make their endorsements seem more “authentic” by totally disregarding Federal Trade Commission (FTC) rules that require influencers to disclose when their posts are paid endorsements.

In August of 2016, Truth in Advertising (TINA.org) filed a complaint about the Kardashians to the FTC, saying that the (in)famous sisters had “failed to clearly and conspicuously disclose material connections to brands or the fact that the posts were paid ads, as required by federal law.”

After receiving a finger-wagging from the FTC, the Kardashian sisters corrected less than half of the posts, generally by adding #ad to the post. The remaining posts, according to a recent TINA.org follow-up investigation, either have not been edited at all, or contain “insufficient disclosures.”

For example, some posts now read #sp to indicated “sponsored” – as if anyone knows that reference. In another tactic that also got Warner Brothers and YouTube influencer PewDiePie in trouble with the FTC, the Kardashians are posting their disclosure information at the bottom of a long post so that users will only see it if they click “see more.”

The Kardashians have also been posting disclosures, but only days after the original post. Considering that the vast majority of viewers comment on or like posts within the first ten hours after it’s published, most of them will never see the disclosure when it’s tacked on days later.

Some of the “repeat offender” brands, who came up both in last year’s complaint and in the recent review, include Puma, Manuka Doctor, Jet Lux, Fit Tea, and Sugar Bear Hair. This time around, the Kardashians have also failed to disclose sponsorship on posts promoting Adidas, Lyft, Diff Eyewear, and Alexander Wang.

TINA.org found over 200 posts on Instagram, Facebook, and Snapchat where products are promoted without the Kardashians letting on that their raking in big bucks in exchange. The organization has notified the Kardashians, the brands they represent, and the FTC.

The FTC has recently been cracking down on deceptive influencer marketing, targeting not only the brands, but the influencers themselves.

In April, the FTC sent letters to 46 social media stars reminding them of their legal obligations to disclose, and followed up with 21 letters in September warning the influencers that they had until the end of the month to disclose sponsorships, or face legal consequences.

“The Kardashian/Jenner sisters are masterful marketers who are making millions of dollars from companies willing to turn a blind eye to the women’s misleading and deceptive social media marketing practices,” says TINA.org’s Executive Director Bonnie Patten. “It’s time the Kardashians were held accountable for their misdeeds.”

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Business Marketing

Dove dropped the olive branch with new ad campaign

(MARKETING NEWS) With any ad campaign there will be misses but take a note from Dove’s playbook and learn how to not repeat mistakes.

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Dove’s latest Facebook ad really hit the mark for whitewashing in advertising. The ad, since removed, essentially implied their soap could turn a black woman into a clean white woman.

In a three-second video on the company’s Facebook page, three women transformed into the next when they removed their shirts. The first transition caused an uproar: a woman of color lifting a brown top over her head to reveal a different woman, who is very, very white.

Although the white woman then lifts her shirt to reveal another woman with darker hair and a darker skin tone, the initial transformation is problematic in its implications of whiteness as cleanliness.

Dove has since removed the ad and issued an apology, stating in a tweet “In an image we posted this week, we missed the mark in thoughtfully representing women of color and we deeply regret the offense that it has caused. The feedback that has been shared is important to us and we’ll use it to guide us in the future.”

Wait, haven’t we been here before? At this point you’d think skin care companies would have realized a little more delicacy is required when rolling out ad campaigns. Remember Nivea’s disastrous, short-lived “White is Purity” mishap? How about Dove’s other blunder in their 2011 VisibleCare ad?

These featured another series of three women standing in front of close-ups of skin, with the darker skinned woman in front of the “before” label, and the woman with the lightest skin by the “after” picture. Although Dove didn’t intend to imply white skin is cleaner, oops, that’s what happened anyways.

While Dove has gotten many things right in terms of inclusivity and featuring models of different racial and ethnic backgrounds, there have also been several instances of intentional racist missteps. Let’s use this as a teachable moment for handling marketing mishaps.

Whenever an ad campaign offends people, the company’s response can make or break the business. If you find yourself in the midst of a marketing crisis, you can take some mindful steps to manage the situation and begin repairing your public image.

First, acknowledge the problem and issue a genuine apology that gets to the core of what your audience is saying. Dove recognized they upset people, and instead of taking a defensive “sorry you felt offended” stance, took responsibility for their actions. Once an apology is issued, explain the original intent to provide context for the situation.

Dove meant to create an inclusive campaign featuring a diverse cast of women. Lola Ogunyemi, the first model featured in the now controversial shirt ad, has even defended the ad. She stated, “I can see how the snapshots that are circulating the web have been misinterpreted, considering the fact that Dove has faced a backlash in the past for the exact same issue. There is a lack of trust here, and I feel the public was justified in their initial outrage.”

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Business Marketing

Aori helps you pack a punch with AdWords

(BUSINESS MARKETING) Aori is the newest tool designed to help anyone using AdWords to kick more butt.

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Search ad campaign managers constantly wrestle with the best way to organize their keywords into campaigns. Most of these decisions strive to balance the time needed to manage the campaign with efficiency of campaign expenditures.

Take the SKAGs strategy, for example. The SKAGs (Single Keyword Ad Group) system is setup to trigger a unique ad for every single keyword by placing each keyword in its own group.

There’s lots of literature touting the benefits of the SKAG system. Generally, the hyper-specific match between ads and keywords improves click-through rates.

This leads to higher quality scores, which leads to lower costs for click, which leads to lower costs per conversion. The tradeoff with this system is the setup. You could be looking at hundreds of keyword groups to set up and maintain, and that’s a lot of work for a small business or startup.

This is where Aori comes in.

Their system helps to automate the process of setting up a SKAG system for your AdWords campaigns.

According to the website, the tool’s primary function is to automate keyword generation. Users enter a set of “root keywords” and common keyword extensions, and Aori will automatically generate all possible combinations of those keywords for your campaigns.

Additionally, through Aori, users can create ad templates using a “dynamic keyword insertion tool,” to enable you to utilize the strongest ad copy across multiple phrases.

In what is the least clear value point of the whole pitch, Aori also uses what they call a “unique bid-optimization algorithm.”

There is almost no detail to be found on how the algorithm works. If the tool handles all bid management for you, this could be a handy tool for PPC novices who are less familiar with the process and lack the time to learn it.

Aori appears to run cheaper than the others we know of, but that may be due to the level of automation available. For example, Aori requires the user to feed it keyword inputs, both root and extension words.

It’s also important to understand where a SKAG system can and can’t work. It is likely a better system for smaller campaigns where ad testing wouldn’t yield statistically meaningful results.

Because every keyword group targets one phrase, you can’t readily say that improvements in ad copy will translate to other campaigns.

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