Location...Price...Customer Service?

This article first appeared in the Homes Extra section of the Toronto Sun, April 13-15 edition. View here.

The laws of selling real estate have been the same for generations; location, location, location. A desirable location will dictate a premium price point based on higher demand; conversely a less desirable location will have less demand and therefore be cheaper. But for new homes, should you consider customer service & brand reputation in the same regard as location and price? The answer is yes, and here’s why.

In Ontario, all new homes are built to code, and backed with a mandatory warranty through TARION Warranty Corporation. What is not regulated, however, is the level of service & communication you will receive from your builder. From construction timelines & administrative procedures to occupancy & homeowner maintenance; your builder’s customer care initiatives will have an immense impact on your ownership experience.

For a new home buyer, the real experience starts when you take possession. Keep in mind that any new home or condo will require proper operation & routine maintenance of the home’s components; both of which are mandatory to preserve the warranty & the resale value of the home. Before choosing a builder, be confident they will give you everything you’ll need to take care of it, such as initial training, product operating manuals & maintenance guides and a dedicated resource to answer your questions as they arise.

Conducting simple research will tell you a lot about a builder’s post-occupancy service. Look for things like; does the builder have a “homeowner resource” section on their website? Do they have a referral program? A quick search of the TARION Builder directory will reveal any history of chargeable conciliations, and how many. If possible, speak with current or past homeowners to get a feel for their experience. Most importantly, ask the builder questions & get responses in writing if you are determining your buying decision on the answer.

Your desired location will dictate your options in terms of who you buy from, but ultimately you have the final say in who you choose. Select a builder who focuses on post-occupancy customer service, so you can enjoy your new home for years to come.

Common Misconceptions about Social Media

Being a “social company,” we speak with business owners on a daily basis. In some cases, it’s to educate. In others, it’s to consult. Regardless of the conversation being had, there are always the misconceptions about social media & communication that we need to overcome. Here is the top 3:

1. Social Media is a passing fad. This objection is probably the most common, and also the most easily overcome. “The proof is in the pudding,” as they say. The amount of Internet users that connect to at least one social media site is approximately 940 million people worldwide. 940 million people is not a passing fad, it is revolution of proportion never seen before. This number is only increasing, specifically with the number of smart-phone users on the rise. These phones make accessing social networks easier and more convenient. In our own backyard, smart phone use increased by 50% between 2010 and 2011, with approximately 6.6 million users across Canada.
2. My customer base is not using social media. In short, yes they are. Statistics show seniors are the fastest growing demographic of social media use in the modern world. With wireless technology advancing, rural areas, previously “left in the dark” are now connecting at record rates. Who else is left? The younger generations are pratically born with cell phones in their hands, and the middle aged demographic has had no choice but to connect or be left behind. Your customer base may not be using it to the extent that others are, but the percentage of users is likely far greater than you think. Do your research.
3. My business doesn’t need to connect through social media. Does your business need to connect with your client base, your prospects and your industry influencer’s? If it doesn’t, that is one heck of a business model. Chances are, your competitors are using social media to connect with their clients, as well as yours. Not operating in that space puts your business at a disadvantage, it’s that simple. If a business owner had the opportunity to speak face to face with a prospect and answer any questions they may have, they would take it. If there is a gathering place for your target market where they come to see products or service like yours, you would be there to represent your brand. That is all social communication is; representing your brand in the space where your target market is congregating.

Ultimately, the greatest misconceptions about social communication stems from a lack of understanding of what it really is. Social communication is not about having a Facebook page, it’s about making sincere and genuine connections with people of similar interests.

Content: Original vs. Shared

In the business world of social media, content is of course king. Sharing relevant content or Content Marketing (as it is commonly referred to), whether it be thought leadership, promotions or relevant news is priority #1 for any effective social media presence. Virtually all content can be placed in two buckets; original and shared. Let’s examine the characteristics of each, and which is more important for social media.

Original content is thought leadership; industry, product or service content created by an expert in that field and then shared with the online world. Original blog posts, pod-casts and video-casts are all examples of original content. Highly focused on specific subjects, good original content generally answers a question that is specific to that companies business, and valuable to the business’ target market. Frequent updates will soon create a library of original content, making the business an information source for their clients and prospects.

“Shared” content is just as the name suggests, shared content from the web that is of interest to your businesses target market. By definition it is not original, but created from news publications and industry experts. This type of content is still highly valuable to your target market, but has its limitations. For example, the characteristics of your business such as geographical area, target market and local economic influences may be highly specific, making relevant content difficult or impossible to find.

Now that we have defined the two types of content, which is more valuable to a content marketing strategy? The answer is: both.

Creating original content is more valuable; it can be completely customized and focused on your target market’s needs. It’s limitations are the time it takes to create valuable content, and creating it consistently. Shared content is generally far easier, but less specific and is less effective at promoting your brand as a thought leader.
A combination of original and shared content is generally the most effective strategy for most businesses. The ratio of each will depend on your time and resources, as well as the availability of relevant shared content.

Outsourcing Social Communication – Why Every Company Should

The golden rule of social media marketing for businesses is authenticity. This basic principal is why many “experts” claimed social media could only be done by you; nobody else. You alone are the expert, understanding your business, industry and client; only you can create unique content that your target market will want to read.
Everything stated above is absolutely correct, but content creation is only one part of the equation. Sourcing targeted users, influencers and existing clients is what you might call the “grunt work” of an effective social media presence; it is often the most time consuming aspect as well.

Like every business, there is likely a healthy balance between what you do internally, and what you outsource. Core competencies are kept in-house, what you can do best and most efficiently. Outsourcing allows business to gain expertise with limited resources, both human and capital. Why would social media be any different?

Creating unique content is something that should be done by you, your staff or an appointed advisor. This can be time consuming, but it is necessary to provide value to your target market. The “grunt work,” finding these targeted users, sharing relevant non-unique industry news and corresponding is an ideal candidate for outsourcing. The responsibilities are easily defined, as are the metrics used to define success or failure.

Social Concepts was founded on the basic principal that every company needs to lay a solid foundation for a social media strategy to be effective, and we can help do just that. By taking the “grunt work” off your hands, you can focus on crafting unique content. Once it is polished and ready to deliver, you will have a receptive audience to see it.

David vs Goliath – How Small Businesses can Beat Big Brands with Social Media

Chances are, you have competition. Unless your business is one of the very lucky few, you are likely competing against established brands and the ever growing pressures from web-based sales. Globalization is great, isn’t it?
These big companies have an established name, a large revenue base and the resources to mass market their product and/or services. So how does a smaller, local company compete against such odds? The answer is of course, through Social Media.

You have a deep understanding of your client base and the unique characteristics of your region that shapes your clientele. You know what brands they like, where they socialize and of course, where & how they communicate. Through a localized social media strategy, you can connect with your target market in ways large brands can only dream of.

Chances are, the big players in your industry already have an established presence on social media and just as likely, they have more followers & connections than your business could ever imagine. But what their large budgets and endless resources can’t do for them is tailor their communications to the specifics of every region they do business in. This is your advantage; don’t waste it.

3 Indisputable Reasons Why Every Business Should Be Using Social Media

In reality, there are thousands of reasons why using social communication makes sense for virtually every business. But everyday, people ask us why do I need to use social media because “I’ve been running my business successfully for (insert number of) years.” When we are asked this, we reply with the same 3 reasons, regardless of industry or business size:

1. Your clients are using it; sharing & connecting with other brands.
2. Your prospects are using it; sharing & connecting with other brands.
3. Your competitors are using it; sharing & connect with your clients

Most companies don’t see social media for what it is; a meeting of like-minded people who share their ideas, stories and experiences. If we told you there was a place in your community where your clients & prospects meet, and you are welcome to join them to learn about them and talk about your shared interests, would you? Of course you would! Social Media is exactly that, without the physical meeting place or face-to-face interaction.

It’s time to stop looking at social media as a “thing” or a “fad,” and start looking at it as a meeting place where you can get to know your target market. If you don’t, remember #3 on the list above.

Social Media is Free..Not Really

The fact that social networks don’t charge for enrollment feeds the notion that social media marketing is “free;” this couldn’t be further from the truth.

Yes it’s true, you can sign up for free, but the work involved in creating meaningful connections and valuable content is anything but. It takes time; a lot of it. If we had a penny, a mere $0.01 for every Facebook & Twitter account we come across on a daily basis that opened an account and posts once every day, week or month; we’d probably be retired by now. Don’t get us wrong, it’s great that more businesses are starting to think about social media as part of their business, but you have a long way to go after signing up.

Our recommendation is before you even think about signing up, define what you want out of your social media efforts. Product feedback? Customer service communication tool? Sales? Marketing? All of the above? After signing up, do what doesn’t come natural to most of us; NOTHING. Observe, watch at a distance, but don’t you dare jump into the conversation until you have something meaningful to contribute.

Slowly, over time and after sharing countless pieces of valuable news & information, your network will expand. Don’t be to concerned with the number; most businesses are not Coca-Cola, and will never get to Lady GaGa numbers. Worry about having an online relationship with every follower you have, so when you have something to say, you have a receptive audience.

Location..Price..Customer Service?

The laws of selling real estate have been the same for generations; location, location, location. A desirable location will dictate a premium price point based on higher demand; conversely a less desirable location will have less demand and therefore be cheaper. But for new homes, should you consider customer service & brand reputation in the same regard as location and price? The answer is yes, and here’s why.

In Ontario, all new homes are built to code, and backed with a mandatory warranty through TARION Warranty Corporation. What is not regulated, however, is the level of service & communication you will receive from your builder. From construction time lines & administrative procedures to occupancy & homeowner maintenance; your builder’s customer care initiatives will have an immense impact on your ownership experience. 

For a new home buyer, the real experience starts when you take possession. Keep in mind that any new home or condo will require proper operation & routine maintenance of the home’s components; both of which are mandatory to preserve the warranty & the resale value of the home. Before choosing a builder, be confident they will give you everything you’ll need to take care of it, such as initial training, product operating manuals & maintenance guides and a dedicated resource to answer your questions as they arise.

Conducting simple research will tell you a lot about a builder’s post-occupancy service. Look for things like; does the builder have a “homeowner resource” section on their website? Do they have a referral program? A quick search of the TARION Builder directory will reveal any history of chargeable conciliation's, and how many. If possible, speak with current or past homeowners to get a feel for their experience. Most importantly, ask the builder questions & get responses in writing if you are determining your buying decision on the answer.

Your desired location will dictate your options in terms of who you buy from, but ultimately you have the final say in who you choose. Select a builder who focuses on post-occupancy customer service, so you can enjoy your new home for years to come.

It's All In the Cloud

We’ve all heard the expression, “in the cloud.” From email to banking, a fundamental shift away from software to remote, cloud-based connectivity is making access to our vital information easier than ever before. So what does cloud computing have to do with our industry? A lot, actually.

Lowe’s Home Improvement recently launched “MyLowe’s,” a cloud-based portal for homeowners which will allow their customers to store information on purchases they make for their homes such as model numbers, owner's manuals, warranties, and paint formulas. No longer will important documentation be relegated to a box, lost or misplaced in that urgent time of need. Purchase products, install and enjoy; when you need to do maintenance, troubleshoot or reference the warranty terms, simply login and access the information.

As valuable as a cloud-based portal is to a homeowner, the most exciting aspect of this technology goes well beyond the basic convenience of the tool. Universal access to the home’s information and transferability will change the way consumers buy and sell homes. 

Imagine having access to a service history when buying a home, similar to CarFax in the automotive industry. Home inspectors would be able to provide a detailed report as to how the upkeep of the home’s components has been done based on the manufacturer’s maintenance recommendations, as well as inform the purchaser as to what extended warranties are still intact. Insurance companies will be able to calculate replacement & repair costs far more accurately based on the records kept in the portal.

In the modern age of real estate, property changes hands more than it use to. Most homeowner’s now have to use their first and often second homes as stepping stones. Each home purchase represents a significant investment and as such, anything a seller can do to reduce the risk and add more value will become increasingly important. After all, when buying a used car, don’t we all want low kilometres and an impeccable service history? Until recently, the only peace of mind we had when buying a resale home was the word of a qualified home inspector. 

Convenience, transferability and universal access to important information; when you combine these attributes, it is easy to see how “in the cloud” technology can change an entire industry. For residential construction, the question is no longer how, but when.