Merrily Hackett, CEO of Sutton Group West Coast Realty is…
Why You Should Believe in Disruption
The word disruption means entirely different things to many people. Increasingly, it’s becoming a very positive word in our vocabulary, particularly digital marketers. As you can see in the graphic above, disruptive companies are thriving. Is your business disruptive, or being disrupted? Are you looking beyond the waves of change to see what’s on the horizon?
Someone has to modify how things are understood and done. That modification is called disruption. Let’s not confuse disruption with new apps on Google play. This is about new ways of fulfilling your customers.
In fact, if you don’t disrupt your current unique value proposition and brand promise, you’ll find customers fleeing you and your advertising. The new disruptive business model makes your business relevant to what’s happening online and in customer word of mouth. Keep pace, and even Google will find your business and domain more relevant. You need to infuse the promise of disruption into your marketing.
Dr. Lalia Rach, said, in an interview before her presentation on Navigating the Era of Disruption, about the recent M&A’s and whether that would create change in the hotel industry: “I wish I could say that it would push the industry forward, out of the past into today and tomorrow, but I am not convinced that will be the result. The need for progressive, thoughtful difference has never been more pronounced yet too often what we see is bigger companies doing the same thing.“
Disruption in Real Estate, Hotels, Travel, and IT
In real estate and hotel industries, customers have more options. After they visit your site, they go to many other web sites for realtors, mortgages and insurance or for restaurants, tours, local attractions and experiences. They’re looking for a solution that resonates with them.
What they’re looking for is the best compelling, relevant unique value proposition. Helping them feel and want that new unique value proposition is the correct promotional goal. They’re leaving your site because they don’t like your unique value proposition and they found your customer experience lacking in satisfaction. It isn’t your web design, or your call to action, your flyers or drip email campaign. The bar is raised and you have to bring in real value.
If you’re still reading to this point, it means you’re smart and you have the kind of determination to persist to create the right solution. I’ve learned that cheap solutions don’t fool anyone. You need to disrupt, evolve and outcompete to win. Traffic is good only if you can convert them to customers. You should be asking “what is the best relevant, compelling, unique value proposition and how can I make them feel this?” Because their emotions do the buying.
In the case of Airbnb and Uber, people love the feeling they get when they save money or experience transportations and accommodation in a new way. Taxis and hotels must disrupt their brand image to provide a richer experience than a “ride and a room.” How are the major hotels doing lately?
Uber and Airbnb are Telling us Something
The success of the ride sharing business Uber gives us more warning that our business and personal lives are being disrupted at a faster pace. Here’s a regulated sector that’s getting deregulated quick by popular demand. airbnb too breaks the mold and lets anyone vacation cheaply.
It’s easy to see that rapid change is only being slowed by government regulation. However, in a global economy, governments are learning they can’t stop disruption. We’re learning we need to know more about it and how to use it ourselves.
Service businesses that don’t use social features to lower barriers and increase efficiency will likely not survive long — from a Bloomberg report.
Smart entrepreneurs aren’t just learning about disruption and reacting to it, they’re actively applying disruptive techniques to create a competitive advantage. Adopting social media is disruptive. The new digital marketing is actually forcing professionals to change how customers will experience their service. I’m suggesting that you learn it and love it, apply it creatively and not just view it as some dark threat.
This post is also about your evolution from old school to new digital omnichannel marketing. You already know traditional marketing is dying as your customers plug into more digital channels. I’m stealing back the phrase omnichannel marketing from the retail people because retail is dying too. Retail gurus have tried to disrupt by relegating digital channels as a subset of retail. Sorry retail people, no can do. Digital is too basic to the market and comes before retail. Retail is a subchannel of digital.
Helping You Get Ahead on the Adoption Curve
You’re leaving money on the table. I’d like to help you use disruptive techniques to avoid losing more sales. What is this big disruption? It’s innovating your business to become what the market wants. It’s the disruption of old school systems and practices. Airbnb did it. Accommodations are cheaper and more plentiful. Now everyone can vacation. And Uber did it in a noisy way.
So many taxi drivers suddenly plunged into the digital networking and sharing economy. And no one can throw them a life preserver. Is the Uber wave about to hit real estate next? (29,000 people obtained their realtor’s license last year in Florida. That alone is disruptive. And why are so many people getting into real estate?).
Why is digital omnichannel marketing so important? Because it provides better reach and impact, and it has the power to connect you with your customer’s decision journey. It can disrupt their journey and provide an alternative seamless customer experience.
That’s precisely what Uber did and it’s putting the traditional taxi service out of business. Soon driverless cars will hammer in the final nail.
If you’re about to be disrupted out of business, there’s hope.
It’s far better to look at the current methods for doing things, and then ask yourself a powerful question: Is there a far better way? That simple question, coupled with an understanding of what can now be done with the latest technology, will give you amazing and powerful answers — Daniel Burrus, Futurist
Evolve to Match Up with Disruption’s Opportunities
If you look at the real estate, mortgage and insurance segments as an example, professionals and brokers alike haven’t evolved to adopt new tech solutions. They’re barely catching up in 2016. They’re now trying new solutions range from online purchasing and account management to omnichannel digital marketing.
The big movement today is in avoiding travel time, and evading paying the fees of auto repairs, taxes, fees, phone company bills, utility bills, cable bills, insurance agents, mortgage agents, and real estate agents. The younger generation doesn’t have enough money or time and neither do older generations. Consumers see these are burdens not assets. Does your UVP need to persuade them otherwise?
Omnichannel means Total Connectivity to Customers
Some even believe that omnichannel isn’t enough, that we need to actively create disruption to make enough of an impact and provide a true seamless customer experience. Omnichannel provides better data/feedback from customers thus building better customer profiles and generating more opportunities to connect with them. And it’s hard to argue that being everywhere with great content is a bad thing.
I’m not suggesting omnichannel digital marketing is easy or that you can disrupt your market easily. Most rich, enabled marketing companies can’t do it well, but you have some advantages:
Perhaps the Key Benefit: having a complete omnichannel digital business strategy lets you get your unique value proposition across very clearly. This will distinguish you from 30,000+ other salespeople in your market.
Too small to compete? Attack a niche market: Small niche players can respond with more agility and relevance than the big brand dinosaurs. Big companies fear small agile companies will erode their marketshare. If the Dow Jones falls, it’s because small biz America is gaining traction. Small biz entrepreneurs are more informed now and finding ways to outcompete big companies digitally and personally.
Consumers are becoming brand agnostic: — meaning the words Apple, REMAX, and Rogers don’t impress them. And they don’t put much faith in them. Your new niche brand can actually loom large in today’s markets. Digital channels actually put you in the driver’s seat and allow you to grow faster. As a Realtor and mortgage agent, you can start your own brokerage and do very well.
Omnichannel Marketing Makes you Omnipresent
The terms Omnichannel or integrated digital marketing describe a process of using multiple channels together – search, social media, sms texting, web to text, email, remarketing and PPC advertising.
To know how to use them, we have to study our customers — what do they want and which channels do they use? And what kind of customer experience would we be capable of creating?
Multiple channels create more touchpoints and leave a more complete impression on visitors. Some visitors leave, but customers keep on reading because they feel a greater connection – a better experience. For instance, when they visit your Twitter page, they see a quick summary of issues they need to know about, and which you can solve. It takes them only a minute to get a wealth of info about you and your unique value proposition. You can respond by encouraging them to connect any way they like.
When they see your blogs, they can see how deeply you’ve reflected on solutions and success, and your services pages tells them how good your solution is. Using Facebook, you can get more personal and make them care. Just in using 3 channels you’ve made yourself relevant and shown intelligence and thought leadership. With all channels, you build transparency and trust.
So, in that sense, it’s all very simple. Your mastery of digital networking and marketing communicates your UVP clearly, and makes you relevant, likable, credible, 3 dimensional, and trustworthy, and strongly connected.
How Will You Disrupt your Market?
- make customers aware of their needs through multiple marketing channels
- segment your customers and develop disruptive, engaging content that responds to their individual beliefs
- tell customers they can connect with you any way they prefer
- remind customers that it’s all about them and how you’re inline with their lifestyle
- show how you’re faster, better, more rewarding, more informative and modern
- show them how you deliver better value point by point with video, copy, and other engaging media
- create conversations with them using several digital media and with a phone call
- show them how their values are relevant — validate how they connect with you
- spoon feed them bits of information via different channels that lead them to the right conclusion and choices
- make previous channels and marketing approaches seem obsolete and show how they waste time and energy
You’ll find my blog is full of disruptive ideas, however it’s not enough to disrupt. There has to be a clear path to your solution or anxiety will cause a visitor to shut down. Get them to see your UVP clearly using all the media available to you. Then a gentle call to action should push them to the channel they prefer. Which channel they prefer tells you a lot about your customer. Linkedin is very different from Twitter or Facebook or email and a phone call.
Contact me today whatever way you prefer. I’m sure you can teach me a lot about your preferred media. I’m ready to learn! and help you disrupt and capitalize on opportunities this year. Let’s talk right now. What could it hurt?
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