FloorPop - Interactive Marketing Best Practices, October 5, 2005
Vol. 5, Issue 8: Copyright (C) 2005 Blair Kuhnen. All rights reserved.
|FloorPop||FloorPop (Flôr-pop) n. 1. The homebuyer who visits a Builder's community and writes a contract for sale the same day. 2. The sound made by a salesperson clicking their heels high in the air and returning to the floor after a prospect signs a contract the day they first meet.|
Builders Getting Back to Work
The sky is falling! Well not really, but the market in California has weakened. While I was at PCBC at the beginning of June, I heard about inventory building up in the Inland Empire. However, my pre-conference workshop attendees still seemed very bullish. Times are changing. No longer a strong seller's market, it's time for some builders to get back to work. "I don't believe there is anyone bullish, there's not one." said Roger Anderson of Anderson Marketing.
I asked Roger what he was seeing. He felt that the market had clearly turned earlier this Summer. "Traffic counts are 50% of what they were." He saw 3 factors influencing the downward trend:
So, if this hits your market, what are you going to do? Start with your follow-up process and sales training. By fine tuning your follow-up program now, you will be prepared to weather the storm. I asked Bill Probert, EVP John Laing Homes, how he had prepared. "I've been preparing for this for seven years." The key is to have a process in place to follow-up on leads, prospects who have visited, and buyers who may be able to generate referrals for your business. "Those with a good process will still be able to generate a reasonable profit in a down market." said Anderson.
Laing has a sophisticated process and systems to support their process. One new part of their process is their "Lost Looker" program. "The Lost Looker is a part of a prospect follow up system that we are using. Home counselors are required to identify 'A' prospects and follow up. We measure the conversion rate and then talk to prospects who become lost." said Probert.
Unfortunately, programs like Laing's are not created overnight. So what can you do to kick start your follow-up program? Start by asking yourself how you would want to be treated from the time you asked for information until you decided to visit on-site. Dedicated follow-up is the key. Then carry this through for your prospects that have already been on-site.
This will prepare you for the future, but you still have to salvage what you can from your old process or lack of follow-up. Those old leads and prospects may still be of value. What can you do?
A Simple but Effective PrescriptionFirst, let's try to recover what we can from the last few months of poor follow-up. Here's a simple prescription that might help your kick-start your follow-up process. Modify it to make it work for your situation. I only ask that you share with me your successes and any critical assessment. The goal is to put together an event designed to find out which of your leads and prospects are still viable without wasting time and money.
Will this work for you? Not only might it work, but you might find a great morale benefit among your on-site sales counselors. Let me know how it goes. bgk
FloorPop is published on the first Wednesday of each month. We welcome your comments, thoughts, and questions. Please write or call anytime. email@example.com.
Blair Kuhnen is the publisher of FloorPop and can be reached at 817-658-7698 or via email at firstname.lastname@example.org. Roger Anderson owns Anderson Associates, a full-service marketing company focused on California's Inland Empire. He can be reached at email@example.com
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Midwest Builders Show
- Rosemont, IL 3/15/06
"Sniping Sales - How Savvy Builders Use the Internet to Grow Market Share"
This workshop will show executives how builders are growing share by building relationships before consumers visit communities.