Connect with us

Real Estate Marketing

Communicating risk management doesn’t need to be risky

(MARKETING) Risk management can seem imposing, but the pandemic times have shown just how important it is to be truthful and build trust.

Published

on

Woman holding a pen working on risk management plan.

“Risk Management” was a corporate buzzword before the COVID-19 pandemic—now it’s a cornerstone of our modern times.

The coronavirus has brought new levels of uncertainty to people’s lives around the world. From determining what activities are considered safe to the likelihood of spreading the virus to friends and family, risk management is now a part of everyday life. Even simple trips to the grocery store now require careful forethought and attention by those who have pre-existing medical conditions.

For entrepreneurs and business owners, communicating risk has never been more important. They may have to explain to their team that layoffs are on the table because business has been affected by COVID-19. They might have to tell customers that their favorite product may be out of stock for some time because of supply issues or increased demand. Any way you look at it, businesses have their hands full.

An organization must walk a fine line when communicating risks as well. If they alert customers, partners, and vendors to every risk they face, notification fatigue may set in and cause real risks to be ignored. If a company tries to shield these groups from low-risk scenarios but issues arise, their lack of transparency and timeliness may damage trust and their brand’s reputation.

The good news is that there is some research to help guide businesses on how to communicate these risks. Back in the 1990s, researchers at Dartmouth created the “Drug Facts Box”, a way to help patients digest the risks of a particular medication and make better-informed decisions. While it was far from perfect, it was shown to help patients overall as compared to old, dense medication packaging. In fact, many of the same principles used in the “Drug Facts Box” can be applied to risk communications in general.

Reduce improvisation: Building out a standard process for communicating risks is crucial. Not only does it set reasonable expectations for stakeholders on how a particular situation will be handled, but it also reduces anxiety for customers around risk incidents. If a standard were adopted across all firms of a particular industry, it would benefit all those involved.

Adopt the right metrics and measure their success: While it may be tempting for organizations to limit negative publicity during a crisis, the real goal should be maintaining their customers’ trust. A company can achieve this by making sure customers have the right information about an incident to help inform their risk mitigation strategy. If customers feel that a firm has handled a particular risk situation competently and quickly, they are more willing to forgive the company and maintain a relationship with them.

Create a risk communication strategy from the start: The old adage of “Hope for the best, plan for the worst” applies well to this point. Although companies often design risk management strategies, many do not plan for how to communicate issues to customers or other stakeholders when issues arise. By designing the messaging and methods of communication from the outset, companies can quickly and effectively notify affected parties.

Patrick Auger is a management consultant and entrepreneur who resides in Austin, Texas. He has a Bachelor of Arts in Business Management from Western Illinois University, and is the Founder and Principal Consultant at Auger Consulting Group, LLC. When he's not writing for The American Genius, he's writing about the business of Mixed Martial Arts for The Body Lock or learning how to cook, one burnt recipe at a time.

Continue Reading
Advertisement

Real Estate Marketing

This app simplifies all your website’s growth and marketing

(REAL ESTATE MARKETING) While making a website is easy as pie these days, getting your website’s growth off the ground is less straightforward. Luckily, Notification Panda makes it easy!

Published

on

Website's marketing and growth on a laptop open to website in progress.

Setting up a website isn’t all that complicated today. There are various content management systems with templates that make it easy to get a website up and running in no time. The hard part of having a website is figuring out how to drive traffic to it so it can grow.

While there is no right or wrong way to increase your website’s growth, there also isn’t a lack of tools to help you get started either. Notification Panda is a social proof application for marketing agencies, e-commerce websites, bloggers, and all types of businesses.

The app offers you different ways to send out notifications to your visitors so you can interact with them more and increase sales. Best of all, no coding skills are required!

Notification Panda works well with a lot of popular website platforms like WordPress, Squarespace, Shopify, BigCommerce, and Zapier. The app’s only requirement is to have a website where you can copy your code from the app’s dashboard and paste it into your website for the notification(s) to appear.

According to their website, Panda is easy to set up with three simple steps. You create a campaign, create the notification, and publish it.

With the tool, you can track your campaigns and notifications. Activities such as email signups, demo registrations, purchases, and downloads from your website can all be tracked, which makes tracking your website’s growth even simpler.

The types of notifications Panda has to offer range widely. There are customizable informational bars. There is a live counter-notification that displays how many people are on your site. There is a countdown timer that helps you create urgency and FOMO and input in lead generation. There’s even a conversion counter type of notification so you help further establish social proof.

Any website can run the app, and its notifications are 100% compatible with Mozilla Firefox, Google Chrome, Apple Safari, Microsoft Edge, Opera, Brave, and others. It’s also compatible with mobile web browsers and can even work on some Smart TVs.

Notification Panda offers different pricing plans. And, if you want to make sure it’s right for you, the company offers a free trial.

Continue Reading

Real Estate Marketing

How knowing ASL as a Realtor makes you more accessible

(REAL ESTATE MARKETING) Since America is the cultural melting pot, language can be a sizable barrier. One language that many people forget about is ASL, but not these Realtors

Published

on

ASL signs

The wonderful world of real estate is full of twists, turns, negotiations, and legalese. Most people struggle to grasp the language and terms clearly. If ASL, American Sign Language, is their primary language, having a realtor fluent in ASL could be quite helpful. Deaf clients are often underserved in real estate dealings.

There can be a language and communication issue when deaf customers work with hearing agents. Nobody needs any disadvantage when the paperwork is signed. People need to be able to follow along in every conversation and negotiation well, to understand what is being offered and what they are agreeing to. An ASL-fluent real estate agent is an excellent way for deaf people to fully participate in and understand their own real estate transactions.

No matter what, people need a realtor who’ll lead the way, guiding them through the intricacies of the contracts and terms, and advocating for them when needed. With every step of buying a home or property, most customers have questions. Therefore, for deaf people, finding a realtor who speaks their primary language, ASL, is a key factor.

It isn’t always easy to find realtors in your area who are fluent in ASL, but we found Amy Seely, of The Seely Group with Keller Williams Realty in Austin, Texas. Seely grew up with deaf parents, and has used ASL her whole life. “Because I grew up with deaf parents, I feel that it’s my duty to help the hearing and the deaf communities,” says Seely.

Maria Galluci, real estate agent in Fort Collins and Colorado Springs, has a similar story. She grew up with deaf parents, and after acting as their interpreter when they bought their home. That experience led her to pursue a path in real estate, as she realized sometimes people take advantage of them due to the communication gap.

A quick Google search pulled up various databases of ASL-fluent real estate agents, based on area. One database lists 64 Texas real estate agents who speak ASL. We found another for DC, MD, and VA. Thank goodness for the internet. Hopefully deaf people will be able to find a realtor adept in ASL and experienced in real estate. Finding the ideal realtor who can walk you through the process is worth the time spent searching.

Continue Reading

Real Estate Marketing

Warning: User-generated content hikes your business insurance rate

(MARKETING) User-generated content is a phenomenal marketing tool when used properly, but it can impact your business insurance rates and potentially E&O rates…

Published

on

user-generated content

The use of “influencers” on social media and the sharing of user-generated content (UGC) isn’t a new thing in social media marketing. In fact, it’s one of the best ways to generate excitement and curiosity about your brand.

The best reviews are always those from real users, and the best advertising is the one you didn’t have to create: Those are social media marketing golden rules.

The implementation of user-generated content however, is rife with some potential troubles, especially when added to your own website.

A lot of businesses can operate under the idea that the average social media user is okay with the sharing of their content. While some of them will be, you run the risk of crossing an invisible line with someone who then generates negative press about you and/or your company. And of course, there is always the possibility of litigation.

Some insurance companies aren’t taking UGC into account, even today, while others will certainly ask whether you’re using it (and will charge you accordingly). This could impact your business insurance rate and potentially your Errors & Omissions rate.

It’s in your best interest to be above board on user-generated content and it always begins with the first step – asking for permission. How you ask for permission depends on the medium, but be sure to get a DM, email, tweet, or something that clearly shows the content creator giving you the right to use that image (and document that permission in a way that you can locate it in the far future). This prevents you from getting into a whole lot of trouble, and allows you to use user generated content most effectively.

Pro tip: If you’re going to be working with the same brand ambassador or influencer, make sure any contracts or agreements you have include a waiver that allows you to repurpose content they create that impacts your brand.

This is an easy thing to do, and it will help protect the integrity of your brand and your online presence – make sure it’s part of your social media strategy.

But it should be noted that there are merits to only using content that you create yourself – it’s more secure, more controlled, and it typically decrease the cost of your business insurance as it’s less risky. Because a lot of brands don’t ask for permission, UGC takes on some risk and skyrockets insurance rates.

The decision to use UGC should be a smart one, and if you do decide to use it, just follow the golden rules: Ask nicely and keep a paper trail.

Continue Reading
Advertisement
Advertisement

Our Partners

Get The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox!

Still Trending

Get The American Genius
in your inbox

subscribe and get news and exclusive content to your email inbox