Archive for April, 2010
Is Your Website A Complete Package?
Posted by Sibet B Freides in Marketing on April 30th, 2010
Website design is a crucial aspect to any branding strategy. There is a great chance that it’s going to be your first impression and it’s not something you should take lightly.
The first steps in creating websites involve goals, targeting, and design layout. This is something that is going to take a while to get right and that’s ok. It is better to get it right the first time than to have to go back and fix it. Plus, it’s more expensive to do it this way.
While design and message development are great, there are some things that many companies forget about when it comes to web design. There is a skeleton that sits beneath your website that contains crucially important data called meta data or meta tags.
When search engines such as Google look for websites, the meta tags of a website play an important role in how these search engines find, identify, and categorize websites. This is important for marketers looking to drive organic search engine traffic to their website.
I bring this up not to discuss the technical aspects of editing this data or how to leverage it in your favor but to remind you how important it is for your website to be a complete package. There are so many parts to a successful website that it’s easy for marketers to overlook things. Design can only get you so much when it comes to web design. A pretty website that doesn’t function well or show up properly in search engines isn’t really working for you. This is why I recommend that you take the necessary time to plan and build a website. There are always scenarios where you need to have something up quick but the end product will probably be more desirable if you really plan a site that looks for your consumer.
Digital Marketing Budgets Set To Increase This Year
Posted by Sibet B Freides in Marketing, Real Estate Trends on April 29th, 2010
An Econsultancy survey earlier this year shows an increase in planned digital marketing budgets for the coming year.
According to the survey, which you can see here, 66% of respondents plan to increase their digital budgets in 2010. An interesting stat from the study has to do with allocation of marketing dollars. The study shows that 28% of marketers are planning to, at a minimum, shift some of their marketing budget towards digital efforts because of its ease to track. This of course does not include social media but does include web analytics.
As this article states, marketers tend to take a scientific approach when it comes to planning a digital marketing strategy and budgeting for it. It’s all about numbers and I can understand that. I do think there is a danger to this approach to digital marketing, especially if you plan on implementing a social media strategy. There are several theories on how ROI for social media can and should be measured. Regardless of your theory, I would suggest making sure you have one before you begin.
Companies need to set goals when it comes to social media. This starts with an understanding of why you are doing it. Are you trying to create buzz? Are you trying to generate web traffic? Are you trying to sell a product? These are all questions that you need to answer before you begin. You can measure social media success by the number of followers you have, the number of interactions, or the web traffic generated from social sites. It really depends on what you are trying to accomplish.
If we don’t know what we are tying to accomplish, how will we ever know if we accomplished anything? This is a very common mistake made by companies when it comes to social media. They just jump in and start rolling with it. I truly believe that we must jump in and participate in order to understand, but using your company’s brand to learn about the social realm is not a good idea. Make a plan. Understand what you are doing and why. These are key issues.
Social Media Staffing The Beginning Of A Trend
Posted by Sibet B Freides in Marketing, Real Estate Trends, Social Media on April 28th, 2010
This post is from The Talon Group’s Blog and was sent to me by Rodney Hall. It’s a great read and I think it’s an indication of where we are heading.
Dallas developer devotes staffer full time to blog and tweet
Kendall Shiffler spends hours each day on blogs, Facebook andTwitter.
Also OnlineIt’s her job as social media maven for Lower Oak Lawn, a new residential and retail development in Dallas’ Design District between the Trinity River and Interstate 35 East.
Through a blog, loweroaklawn.com, and other social media, Shiffler has quickly become the voice of the Design District. By focusing on what’s going on among the area’s many design showrooms, art galleries and denizens, she hopes to attract people to Lower Oak Lawn, which has 1,000 apartments and plans for five restaurants (the first one opens Wednesday), a boutique hotel and trails.
Developer Mike Ablon’s research showed the target resident was a tech-savvy, 20-something urbanite. So he shortened Lower Oak Lawn to LOL, which means laughing out loud in the social networking world. He also added built-in flat-screen televisions and iPod docks and speakers to the apartments at Alta 1900 Lofts, one of three apartment complexes there.
It’s unusual for large companies and even rarer for small businesses to have a marketing person devoted to social media. Ablon’s company, PegasusAblon Properties, has 20 employees.
“There isn’t anything like this in the industry, so we had to invent it, and to do that you have to be committed,” Ablon said. “We hired Kendall on LinkedIn. You want someone who lives in that world.”
Shiffler, 25, worked in the city of Dallas’ international economic development office for two years before joining PegasusAblon in September. For the job, she had to write a blog post about why she loved social media, submit how many social networking friends and followers she had, and post a blog item about LOL.
Small businesses have lagged in using social media because they don’t have the staff or time, said Janet Wagner, director of the University of Maryland’s Center for Excellence in Service. That’s changing: A study by the center found the use of social media by small firms doubled to 24 percent last year in the U.S.
1. Know your target audience or customer.
2. Develop a social media marketing strategy.
3. Make sure your website or blog has the best search engine optimization.
4. Find the right voice for your business.
5. Join Facebook, Twitter and YouTube.
6. Join LinkedIn and other professional networking sites.
7. Start a company or personal blog.
8. Integrate social media into your traditional marketing.
9. Research what your competitors are doing.
10. Address negative feedback immediately. Don’t ignore it.
New Home Series Showcases With Major Success
Posted by Sibet B Freides in Real Estate Economics, Real Estate Trends on April 26th, 2010
I recently read an interesting Builderonline.com article that talks about the successful showcase of The Irvine Company’s new home series this year.
I think that this success can be attributed to several different things. Like the article said, Orange County hasn’t seen new homes in years and I think that there was some pent up organic demand.
While pent up demand certainly doesn’t hurt the market, I think there were other measures taken that really helped. Just because someone wants to buy a home doesn’t mean they will buy something they don’t want. This is especially true now as buyers re-enter the market with extreme caution and frugality. Buyers know what they want and they aren’t willing to invest in something that doesn’t meet most of their criteria.
When The Irvine Company brought in over 200 potential buyers to critique old floorplans (pre-recession plans) they were really on to something. Each potential buyer was armed with a pad and pencil and wrote about the good and the bad. Afterwards, each one was interviewed about what they thought. These interviews were recorded for later use.
I think this was such a good move for several reasons. For starters, Irvine met with 200 potential buyers and gave them influence and decision making power. I wonder how many of these 200 came back for their new home series opening. Can you imagine if these people viewed homes that they helped design? I think that would be a good start to a buying process. By enlisting the help of these potential homebuyers, Irvine updated their product to suit the needs and wants of today’s market. Did they assume? No, they went straight to the source to find out.
Irvine is a large company and I know that most builders are unable to do something like this on a large scale. I think it’s interesting that they empowered consumers the way they did. I think that is the takeaway here. Consumer insight is always a useful tool when designing a product regardless of the market. An inexpensive way to get input would be to ask visitors to your website. Or ask their opinions via social media. There are many ways to get consumer input today. Make sure you are ready for the post-recession buyer.
Successful Builders Listen To Their Consumers
Posted by Sibet B Freides in Marketing, Real Estate Trends on April 22nd, 2010
A recent BuilderOnline.com article provides us with a solid case study on how to sell homes during a recession. The funny thing is that this particular builder did it by increasing his prices. No doubt a risky move but he had a plan and a good reason. Be sure to read the article here. I think this is a good blue print for how we should be embracing consumer wants.
The article makes several key points when it comes to adding value to your product. The most interesting and beneficial information given has to do with initial building costs. According to the article, homes in this community cost the builder somewhere in-between $10,000 to $15,000 more to build once he began incorporating these new details to his homes.
The reported results were nothing but positive.
There are two things that I really liked about this article in regards to the building strategy described.
First, the builder was smart enough to realize that he needed to listen to his consumer. He did this by going to seminars and consulting sessions to learn what his specific consumer wanted in a house. He didn’t just provide these special home options; he included them from the start. The article compares this strategy to selling a luxury car. There is no need for options because these homes will already have everything you need.
The other is that he was willing to invest in his product and resist the urge to sell at a lower price point. This is proof that selling strictly on lower price points isn’t always the answer to increasing sales during hard times. By investing back into your product, you’re giving consumers something worth investing in.
How Are Consumers Using Smart Phones?
Posted by Sibet B Freides in Marketing on April 21st, 2010
According to a recent study, mobile phone Internet use is putting up some serious numbers.
The Mediapost.com article tells us that Americans are spending on average 2.07 hours a day on their mobile phones. Included in this time are social networking, personal finance, search, e-commerce, and much more.
The study shows an interesting difference in the way males and females use their phones.
Females tend to use their mobile phone time to connect and communicate. This obviously includes Facebook and other social networking sites. Men are more likely to research, read, and manage finances.
While women are more likely to socialize on their mobile phones, 91% of all respondents claim that they go online with their phones to socialize regularly. Only 79% of respondents use their personal computers for socializing. It’s clear that those seeking Internet access with their mobile phones are doing so for social reasons. This reinforces a lot of theories about the future of Twitter and other social networks. Many experts believe that social networking fits better into mobile Internet use than personal computer use. These findings support that.
Mobile devices are becoming more powerful and they can now accomplish more than communication. Users are searching websites, doing personal finance, organizing, reading, and even gaming. The new iPad is a mobile device. It’s not a computer. It mimics a lot of the functions of a computer but that doesn’t make it one. It makes me wonder where we will be in five years. Will the average person be able to accomplish everything they need from mobile devices? Will people still be buying computers at the same rate? These are questions that will obviously be answered sooner than later. I think Apple has really started the fire on this. It will be fun to watch.
Current Home Buyer Trend May Surprise You
Posted by Sibet B Freides in Marketing, Real Estate Trends on April 19th, 2010
The $8,000 tax credit for first-time home buyers is set to expire soon and the housing market is starting to see a last minute push from buyers entering the market for the first time. Many market analysts predicted this late push and builders even produced homes for it. We won’t know how right or wrong these predictions were until the dust settles but there are a few attributes to this market that were unpredicted
A recent Coldwell Banker survey polled over 1,000 single homeowners. This survey reveals some interesting attributes and motives. According to their data, 53% of new single home owners bought a home because it was more cost effective than renting. While this is no real surprise, the geography of these homes may surprise you.
According to the survey, 52% of new single home owners chose to buy in suburban areas making it the majority of where singles bought homes. This is surprising because it is the opposite of what we have been reading as far as housing trends go.
I think that this can be attributed to the slumping home values in suburban areas. It’s no secret that urban homes are holding value better the suburban ones. Single home buyers are getting more house for their money in the suburban markets. It seems that singles are skipping on the urban lifestyle in search of a good investment and more space. I think they’re looking down the road a bit. They might be thinking about their new home as a financial investment and a place where they can raise a family. They are achieving a dream early in their career due to low price points and the foreclosures that are plaguing suburbs.
This is something that I don’t think anyone saw coming but I wouldn’t totally dispel the push for urban revival. This just proves that there will always be a market for suburban living. An interesting note from the survey indicates that most of the respondents have a commute of 30 minutes or less. I think this could be an indication that the sprawling exurbs far outside of town could be the markets we see diminish.
Housing Market To Remain Shaky During Recovery
Posted by Sibet B Freides in General, Real Estate Economics on April 16th, 2010
The housing market appears to be recovering but different markets will fair better than others during the recovery.
The overall message from this rather pessimistic idea is that while housing may be showing signs of life, the market is and will continue to be shaky.
For example, the condo and second home markets will not recover as quickly as the small, in-town home market will. The problem is the jumbo loans that are required to obtain these properties. Banks will only approve a condo loan if the building has a 70% occupancy rate, which is not the best news for new properties in the middle of sell-outs. Borrowers looking for a jumbo loan are going to have to front 30% to even be considered.
It’s not all negatives though. Saving money by “going green” with upgrades is a wise and feasible option. There are numerous government incentives and federal credits for energy-efficient heating and air-conditioning systems. The real value for sellers is that these upgrades will increase that value of your home. These incentives allow you to do this at a much cheaper cost. To me, this is a no-brainer for builders and homeowners alike. It is becoming increasingly evident that once the market does start its recovery, there will be certain things that consumers will want. One of them will certainly be sustainable and energy-efficient interiors and fixtures in their new homes. This is a theme we continue to see.
Consumers Are Growing Cautious As The Housing Market Recovers
Posted by Sibet B Freides in Real Estate Trends on April 15th, 2010
A recent survey conducted by Fannie Mae has discovered that 65% of homeowners and renters believe that there is still some value in owning a home despite a harsh economic climate and an unpredictable job market.
The overall lesson from the survey was not that Americans see home ownership as a less attractive option but that they will be much more cautious and hesitant in their future buying decisions.
I don’t think that we will see the death of the “American Dream” but a more cautious and responsible approach in obtaining that dream.
A big difference in the way consumers are buying has to do a lot with their values. Americans are increasingly becoming more concerned with long-term stability instead of short-term happiness. Unfortunately, this has been a hard lesson for consumers and businesses alike.
The leading considerations for buying a home today are both personal safety and quality schooling for children, not high investment yields.
The upside to this survey is that 70% of respondents say that buying a home right now is an opportune time. The problem is that many feel that isn’t as safe as it has been in the past. The deals are out there, but the question is justification and safety.
While this might not paint a complete picture of consumer’s attitudes, it’s a good indication of where we are going and what we must face. As marketers, we need to realize that we will be facing a ton of doubt and hesitation once people re-enter the housing market. We need to do our best to address these concerns up front instead of leaving them to question. If we can answer important questions before we meet with buyers, we can increase our odds for that meeting and interaction.
Urban Cores Showing Steady Growth
Posted by Sibet B Freides in General on April 14th, 2010
As we continue our hopeful climb out of a depressed housing market, we need to take a look around to see what has actually happened to the industry during the hard times.
A recent Builderonline.com article focuses on the growing construction and revitalization of the urban cores for major markets in comparison to the outer suburbs. Reports are showing that since 2000, residential building permits in downtown areas have more than doubled and show no sign of stopping in their growth.
While it’s easy to attribute this growth to regional jurisdictions implementing smart growth measurements, I think it’s also due to shifting market.
Most of these urban developments or revitalization efforts are accommodating several market trends. Consumer lifestyle preferences are changing and urban residential living seems to be the best option. Consumer finances are constrained, which calls for smaller households. Walking communities and public transportation are high on the list and urban developments are able to adhere to these demands better than suburbs.
The article points out that “When you look at the regions that are really embracing walkability, investing in transit, and thinking about natural resources protection, these are the regions that are weathering the downturn best.”
This article leaves us with an interesting perspective on a shifting industry. Suburbs were the answer to a changing economy, which was the consumer industrial age. Now we are seeing another major economic shift towards idea generation and their transporting. This is more conducive to more dense economies and markets. Large suburbs are not ideal for this inevitable change. Small urban settings are well primed to receive this coming economy.
