There’s always something to howl about.

Category: Marketing (page 80 of 191)

Urbanologist Joel Kotkin: Why growth-oriented cities like Houston, Phoenix and Atlanta reflect the future of global commerce

Joel Kotkin is the only American urbanologist who can tolerate actual living human beings. In consequence, he can write about the organic growth of cities as they really are, rather than as he might remake them with enough tax money and firepower. This is a long extract from a much longer article about Houston’s emergence as a world-class city, this despite the scorn that might be heaped upon it — at tax-payer expense — by urban monument-builders like Richard Florida. In this section of the article, Kotkin discusses what makes young, growth-oriented cities so dynamic by comparison to older, more-typically-urban urban environments.

Ultimately, it’s a question of defining what makes a city great. Many city planners today focus largely on aesthetics, the arts, and the perception of being “cool.” Academics and many economic-development experts link urban success to cities’ appeal to the “creative class” of college-educated young people. In this calculus, the traditional practice of gauging a city’s success by studying patterns of population or employment growth, or noting the opportunities available for working-class or middle-class families to flourish, rarely registers as important. One prominent academic, Rutgers University’s Paul Gottlieb, has even offered an elegant formula for what he calls “growth without growth”—focusing on increasing per-capita incomes without expanding either population or employment. Indeed, Gottlieb suggests that successful post-industrial cities might well do best if they actually “minimize” the influx of new people and jobs.

Such an approach may work, at least superficially, in an attractive older city such as Chicago, New York, or Boston, but it’s an unlikely model for most cities in a country where the population is expected to reach 420 million by 2050. Growth-without-growth cities might be great to visit, and they might prove exciting homes for the restless young or the rich, but it is doubtful that they can create the jobs or the housing for more than a small portion of our future urban population. For these and other reasons, the Houston model of the opportunity city—welcoming new jobs and new families—may prove far more relevant to the American future.

Chicago, the great growth city of the late Read more

Eyeball Marketing – Are You a Pioneer?

What do running shoes, firefighters’ air tanks and cordless drills have in common? They are all direct spin-offs from the Apollo Space Missions (and before anyone comments, neither Teflon nor Tang was a spin-off from the Apollo missions or NASA in general).  Why is this important to practitioners of the 2.0 arts? Because Social Media Marketing is, at this time, a lot like the Apollo Space Mission.  It is young and unexplored.  It is obviously a new way of doing something and most would agree that it is quite powerful, but many more question its real use.   Apollo was questioned.  Many accused the entire program of being a boondoggle: powerful, but of little practical use.  “What is the point, even if you do succeed?”  Sound familiar?

The Eyeball Marketing theory is simple: if you can put enough eyeballs on you, someone will pay to access the brains (and wallets) behind those eyeballs – might even be you.  There is no shortage of people with products or services to sell that will gladly pay you to get in front of your group.  This is the basis of most large, multi-day seminars.  (You didn’t think they were paying those big names full boat to come and hock their books did you?)  Lots of people have something to sell, but few have the ability, the reach and the vision to put butts in seats and eyeballs facing forward.  Quick self quiz: how many of you have paid for leads in the past?  If you have then you are someone with a service to sell willing to pay someone else for the eyeballs they generate.

I suggest that there are two basic forms of marketing.  When we talk about past clients, sphere of influence and a community of raving fans we are talking about marketing to a target.  When we talk about hyper-locals, mass mailings and Google juice we are talking about marketing for eyeballs.  They are not mutually exclusive; in fact, the goal of eyeball marketing is to gather enough people into a specific group that you can market to a target.  Blanket an area with Read more

Black Pearl Marketing Minute: Using the synergy of the internet and low-cost printed promotions to sell your product, build your brand and give you an affordable — testable — marketing strategy

Linked below is the first of a series of Black Pearl Marketing Minute podcasts that Brian Brady and I will be putting together. We want to take marketing ideas that we have discussed on BloodhoundBlog and flesh them out to real-life strategies while connecting them to other synergistic tactics.

In this inaugural episode, we start by talking about my post on using the business card form factor for doing low-cost broadcast door-to-door promotion. We talk about some ways that we deploy custom-made business card-sized promotional pieces, how we make and print them, and our distribution plan.

Brian then connects that idea to a marketing plan that emerged from our comments threads, partnering with local merchants as an online/offline farming technique.

Earlier today, someone known only as Jacksonville Real Estate posted a comment on my post about using low-tech promotional schemes to bring traffic to a single-property web site:

It’s an old idea and it’s not mine … but if you are targeting just a certain areas then getting your flyer on the local pizza delivery box can work wonders.

Brilliant! Never thought of it, but that’s why I love this place: We bring bright minds together and set off a blinding brilliance. My reply:

Oh, very cool. I tend to think in terms of things we can do on our own, but this is actually an interesting cross-promotion:

“Visit our custom web site for 123 Mulberry Lane and your next pizza is on us!”

Build a PDF coupon in the site and redeem them with the pizza joint once a week. Meanwhile, your contact info is on the fridge for weeks or months.

That’s a Brian Brady-style idea. I must be channeling…

It’s a Guerrilla Marketing kind of idea, actually, a Duct Tape Marketing kind of idea — maximum bang for minimum bucks. It’s most completely a BloodhoundBlog kind of idea, in the sense that it combines (and recombines) physical with online marketing.

But nothing’s perfect in the first draft. My correspondent thought springing for the whole pizza might be too expensive as a “pay per click.”

Okayfine. How about this?

Buy the soda instead, then. It’s an upsell for the pizzeria — bigger Read more

Did you miss out on the super-low Guerrilla-only price for BloodhoundBlog Unchained? The price is still low, but you need to act fast — Brian Brady wants to raise it again soon

Here’s a valuable question for the Web 2.0 world: Can people really appreciate a bargain? Everybody loves “free” — but do they love it at full value? My thinking is that LinkedIn would be a much more valuable place to network if it charged members $350 a year, but would anyone pay a buck a day for Facebook?

This is a question that has been bugging Brian Brady — gnawing at him as only a good marketing problem can. We priced BloodhoundBlog Unchained at $149 and sold a bunch of tickets. We bumped the price to $199 and sold a bunch more. We’re getting to the point where we’re going to have to make seating distribution choices — and Brian wants to raise the price to our estimated retail — dollarized — value: $350.

We know that amount is low. The next time we do this, the early-bird price will be more than that, and the last-minute price will be more than double that amount. We’re going to give you a year’s worth of ideas to deploy, so, even at $350, we’re still only a buck a day. If you do just one extra deal as a result of something you learn at Unchained, the ROI could be 20-1 or more.

Looked at that way, Brian is right: It’s plausible that, by charging too little, we’re encouraging people to set their expectations too low. I find that amazing, considering how much value we deliver here at BloodhoundBlog every day. But I was stunned to discover that people didn’t know that Unchained will not be the typical buy-me! buy-me! vendor show. I would have thought that my own graduated hostility to vendors would have made that plain.

In the other corner, there is me, slugging it out for the starving grunts in the trenches. No one is really starving — I hope! — but our lean months have become our lean years, and there ain’t too many of us getting fat off the fat of the land just now. I would rather keep the price as low as we can for as long as we can, Read more

Less is More

If I asked you “what business are you in” and your answer is “the real estate business,” you (like 98% of REALTORS®) are wrong according to Michael Russer of Russer Communications.  Michael is a genius of sorts; he claimed the title Mr. Internet before we even found out that Al Gore invented it.  Russer was tech before tech was cool. He made quite a name for himself in real estate circles back in the 90’s with his Mr. Internet moniker and a passionate belief that the Internet is not about technology, it is about connecting people. Now he flies all over the world telling real estate and other businesses how to use the Internet to market themselves and connect with clients and customers. 

So why does Michael Russer think 98% of agents don’t know what business they are in?  Actually, he asks his classes a different question.  He asks attendees at his seminars if they have a specific target market that would be recognizable by visiting their personal web site.  98% do not have such a specialty or niche market.  In other words, only 2% of REALTORS® are NOT generalist.

I am not a REALTOR®, but I did stay in a Holiday Inn Express last night, and that empowered me to come up with a few niche market suggestions for those of you who might want to stand out from the 1.3 million other REALTORS®.  One of my strong beliefs is that if you try to be everything to everybody, you will end up being nothing to nobody.  This is as true for an association of REALTORS® as it is for each individual member.  It is also true in every other part of our lives.  Remember High School?  If you did not find your niche (band, AV Club, football team, etc.) you really struggled to fit in – to be relevant. 

Why then, do 98% of REALTORS® fail to develop a niche within the overall real estate industry?  For the same reason many other businesses fail to find a target market – they fear that limiting the pool of potential clients will Read more

Redfin.com beats the field again, this time in both Seattle and San Francisco: Buyers pay less and reap commission rebates, too

Redfin.com has news this midnight, but it’s the sort of thing I would normally ignore: It’s basically the kind of rah-rah-for-us stuff I leave for the vendor cheerleaders and the mainstream media. But: I gave Redfin a lot of grief last year when they made a similar announcement, so today I’ll give them a bit of their own back:

Online real estate broker Redfin Corporation today published an analysis of the last 12 months’ public real estate records in Seattle and the San Francisco Bay Area that shows its buyers and their Redfin agents negotiated a better price than buyers who used other brokerages. Redfin’s average negotiating advantage was $5,048. The company also reported a 95 percent customer satisfaction rate for users of its home-buying service, and an average commission refund of $10,520.

This is the actual news, which you will not find in any news source: Redfin beat the field for the second year in a row. Is it plausible that particular agents beat Redfin? Not just plausible, highly probable. I don’t know of any teams of buyer’s agents like the kind of team Russell Shaw runs for listing agents, but a team like that would be much more useful for comparison purposes than the entire field of Realtors in three MLS systems. But give Redfin its due: The company deploys the kind of task specialization common to every sort of business except residential real estate brokerage. It’s very hard to resist the idea that specialist negotiators, more often than not, could out-dicker ordinary jack-of-all-trades Realtors.

And all of that is caviling, and wasted caviling at that. Stand in awe as Redfin.com CEO Glenn Kelman illustrates the high art of PR triangulation:

“Why do Redfin customers consistently tend to negotiate a better price, in different markets and different market conditions?” said Redfin CEO Glenn Kelman. “Last year, we concluded it was because of our agents, whom we pay bonuses based on customer satisfaction rather than commissions. Others argued that it was because of our deal-savvy customers, who benefit from Redfin’s transparency to take a more active role in the deal. Today, we think it’s Read more

While The National Real Estate Market Is Soft – Google Pay-Per-Click Real Estate Advertising Still Going Strong

Is Your Online Marketing Costing You Too Much?

As one of those with an online presence, I am always interested in how others attract “eyeballs”. Back in the early days of Google, I proudly staked my claim on some choice keywords in their pay-per-click program – which brought me a great deal of traffic at a relatively low cost.

But that was then – and this is now.

The pay-per-click rates for the major cities are now – in some cases – astronomical.

Currently, the rate for Atlanta Real Estate is between $0.80 – $3.17… which is what is was a few years back when I quit advertising there. Three bucks a click is too rich for my blood. Average daily clicks on that search term is between 38 and 48… not that much, really.

For Houston Real Estate, the rates are between $0.86 – $3.76… with between 89 and 113 daily clicks for that term. A little more expensive – but there is more activity.

For New York Real Estate, the rates are between $0.65 and $2.18… with between 32 and 41 daily clicks. I thought that was odd, so when I researched New York City Real Estate, I see that rates are $0.69 – $2.44… and only 7 to 11 clicks daily on that search term. Unbelievable.

Manhattan Real Estate, on the other hand, has rates of $0.67 – $2.32… with daily clicks of between 10 and 13. You would think that in the Manhattan market, there would be more online competition for that Google space… but the truth is in the numbers – the searches just aren’t there.

For Los Angeles Real Estate, we find rates of $0.96 – $4.85… with daily clicks between 105 and 133.

For San Francisco Real Estate, the rates are $0.93 – $.43… with daily clicks between 43 and 55.

For Chicago Real Estate, the rates are $1.03 – $5.97… with daily clicks betwteen 122 and 154.

For Las Vegas Real Estate, the rates are $1.07 – $9.92… with daily clicks between 76 and 97. Getting kinda pricey, eh?

For Phoenix Real Estate, the rates are $0.77 – $3.01… with daily clicks between 29 to Read more

The Odysseus Medal: “Lions in the wild seem about ten times more alive”

The Odysseus Medal this week goes to another truly amazing essay from outside our little RE.net cloister. I knew when I saw this on Saturday that it had won. Teri Lussier convinced me on Sunday that I have a leadership opportunity with the ten dozen people following me on Twitter — so I led them to this article. What is it? You weren’t meant to have a boss by Paul Graham. Ostensibly he’s writing about programmers, but that’s a superficial characteristic. What he’s writing about is the nature of human beings. What he’s writing about it you:

A few days ago I was sitting in a cafe in Palo Alto and a group of programmers came in on some kind of scavenger hunt. It was obviously one of those corporate “team-building” exercises.

They looked familiar. I spend nearly all my time working with programmers in their twenties and early thirties. But something seemed wrong about these. There was something missing.

And yet the company they worked for is considered a good one, and from what I overheard of their conversation, they seemed smart enough. In fact, they seemed to be from one of the more prestigious groups within the company.

So why did it seem there was something odd about them?

I have a uniquely warped perspective, because nearly all the programmers I know are startup founders. We’ve now funded 80 startups with a total of about 200 founders, nearly all of them programmers. I spend a lot of time with them, and not much with other programmers. So my mental image of a young programmer is a startup founder.

The guys on the scavenger hunt looked like the programmers I was used to, but they were employees instead of founders. And it was startling how different they seemed.

So what, you may say. So I happen to know a subset of programmers who are especially ambitious. Of course less ambitious people will seem different. But the difference between the programmers I saw in the cafe and the ones I was used to wasn’t just a difference of degree. Something seemed wrong.

I think it’s not so much that Read more

In the Metropolitan Phoenix real estate market, our long, slow slide in home prices is finally encountering demand

This is my column for this week from the Arizona Republic (permanent link):

 
In the Metropolitan Phoenix real estate market, our long, slow slide in home prices is finally encountering demand

If you’ve been looking for the bottom of the Phoenix real estate market, it might well be upon us.

The world beyond our control — Washington and Wall Street — is so volatile right now that it’s hard for anyone to make plans.

The Federal Reserve Bank is determined to keep markets liquid, so its own interest rates are heading back toward record lows. The investment banks that brokered the mortgage-backed securities that made sub-prime loans possible are in turmoil. Meanwhile, Congress is desperate to do something — which will almost certainly make things worse.

The interesting thing about all that chaos is that it seems to be isolated to the real estate market. The larger economy is growing so fast that the twitterpated monetary policies of the Fed seem not to have had much of an impact.

That’s a good thing, and let’s hope things stay that way.

Meanwhile, in the world we have some control over — the local real estate market in Metropolitan Phoenix — our long, slow slide in prices is finally encountering demand.

Because so many people wanted to buy houses in Phoenix, our builders gleefully over-built the Valley. This caused the glut of inventory we have been trying to absorb over the past nine quarters.

Many of the resale homes that have languished on the market are by now short sales or have been taken back by the bank. Lenders don’t want to own houses, so they’re cutting prices until the homes get sold.

At the same time, our reliable inflow of population, along with investors and second-home buyers, is there to absorb these newly-affordable homes. The snow belt just got belted with its worst winter in memory, which will bring even more newcomers to Phoenix.

It could be we’ll be back to normal inventory levels fairly soon. The bad news? If your home is for sale, the price it will sell for right now is probably quite a bit lower than you think it Read more

The Short List goes to the dogs: Voting for the People’s Choice Award is open

By the time I had time to deal with The Odysseus Medal last week, it was pretty late in the week. The week had been pretty light on nominations, and we were heading into Easter, so I made a command decision to combine these two weeks into one award.

Then today, when I went to look at The Long List, I found a whole lot of Bloodhounds in there. There were a total of 70 unique posts from 17 of our current contributors. Just short of 40% of all of the nominated posts were written by Bloodhounds.

You can say what you want about this weblog. It seems to be some sort of badge of dishonor to make snarky remarks about BloodhoundBlog or its contributors. About this I have one thought only — predictably a marketing issue: If your clients observe you talking trash about us behind our backs, might they not reasonably conclude that you are also spewing bile about them behind their backs? Everything you do establishes your character in the eyes of your clients — now more than ever before. That’s a Black Pearl — and the more you want to reject it, the more valuable it is.

In any case, I don’t give a rat’s ass what anyone says, but I care a great deal about what people can demonstrate. The quality of work our contributors do, here and at their home blogs, is a potent demonstration of its own — a demonstration of the quality of minds who work here, and, I think, of the quality of thought we inspire in each other.

In consequence, this week’s People’s Choice is given over to BloodhoundBlog contributors, to one post from each of them who made this week’s Long List.

We end with with a total of 17 People’s Choice nominees. You can vote for the People’s Choice Award here. You can use the voting interface to see each nominated post, so comparison is easy.

Voting runs through to 12 Noon MST Monday. I’ll announce the winners of this week’s awards soon thereafter.

Here is this week’s short-list of Odysseus Medal nominees:

< ?PHP $AltEntries = array Read more

Would You Hire Yourself?

There is an ongoing argument as to the value of a real estate agent in today’s real estate market. It can’t be settled with rhetoric and mantras. In order for there to be an effective resolve, the Realtor industry must reach out to the American consumer and seek to validate the need for their existence in a transaction.

This should not be a hard feat. However most agents, for some unknown reason, find it to be beneath them to quantify their “value” much less dollarize it. When posed with the notion that they may be required to actually prove their worth, many ignorantly say that doctors and lawyers and professional athletes don’t have to justify their fees so why should they. Oh really?

Is that the answer you want the Consumer to walk away with? If you are not willing to justify yourself to the Consumer, how about justifying your commission and worth to yourself?

Would you hire yourself? Be honest. You know what you have done…lately. Don’t tell me, the Consumer or yourself that you USED to be great. At one point Carl Lewis was the fastest man in the world. At one time Bear Stearns was a respected fixture on Wall Street. At one time you may have been a high performing agent.

Banks only allow appraisals going back 6 months, some are only allowing data that goes back just 3 months. In doing a realistic appraisal of yourself, it’s not accurate to say what you have done. The Consumer wants to know what you have done LATELY.

So let’s assess ourselves accurately, shall we?. In order to do so we’ll need to collect actual qualified data. Not just a self-adulating pat on the back. So let’s ask ourselves some questions and come up with a dossier as to why we would even entertain hiring ourselves.

1. Experience:
a. How long have you been a real Estate Agent?
b. When were you licensed and has your license been continually active?
c. Please explain any interruptions in service since the time you were first licensed
d. What, if any, continuing education or niche specific training have you taken and completed Read more

Listing real estate the Bloodhound way: Virtual remodeling

I wrote about Obeo’s virtual remodeling feature when first I discovered it (they call it Style Designer). As far as I’m concerned, this one feature is a total category killer among virtual tours. Panoramas? Check. Ken Burns zooming tricks? Check. Cheesy music loops ripped-off from CHiPs and Charlie’s Angels? Check. But to give the buyer the ability to re-envision the home — that’s worth talking about.

I’ll talk about the full tour when we’re done with it, but here’s a before-and-after example of virtual remodeling:

Before:

Cathy and Mark Deermer, our factotum-like handyman, worked hard to make this kitchen pop. My contribution: The white walls. They had been a custard yellow, and I thought they were making the room too warm and dark. Now this kitchen looks like candy — the elaborate girly kind of candy.

After:

I agree with Cathy and Mark that kitchens should be girly, but, even so, I really like masculine kitchens. This is how I redesigned that kitchen in Obeo’s Style Designer.

How long did it take? Less than two minutes, although I could see people spending hours remodeling our homes. I want for people to spend hours remodeling our homes.

Note the reflections along the left-most face of the cabinets. Compare the surfaces underneath the microwave oven. I feel like we should be paying royalties to Pixar for results like this.

I invest a lot of invective beefing about vendors, but I am delighted to be able to rejoice when a vendor gives us a feature we have wanted for years — in a slick, fool-proof interface at a reasonable price. I promise to be astounded if Obeo does everything this well, but they are doing this perfectly.

This is the kind of technology that sell houses. And to that I can add but one carefully-considered sentiment: Hot damn!

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Listing real estate the Bloodhound way: Photography

I read somewhere the other day, I forget where, about a web site for a listing that had 47 pictures. The author of the post clearly thought that was a lot of photos.

Cathy organized her first batch of photos for the web site I will be building today. We will be adding other photos later, but this is by far the biggest batch.

How many? Not a huge number for Cathleen — only 221, about 28 megabyte’s worth. The finished web site probably won’t have many more than 300 photos — not counting the virtual tour and the video we have planned.

Is that overkill? We don’t think so. Everybody knows how to turn off the TV, but if you want to know everything about the home, we want to show you everything about the home.

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Hubcaps on breadcrumbs? How BloodhoundRealty.com builds single-property web sites — and why they sell homes

Vance Shutes left a comment to my post about how we use web sites and web pages about particular houses as “breadcrumbs” to lead potential clients back to BloodhoundRealty.com. My response to him is long enough that I’m turning it into a post of its own.

Vance:

I’m intrigued by this concept. Will you be expanding on it during Unchained?

At BloodhoundBlog Unchained I will show you two different ways to leave a breadcrumb at every home you might ever want to sell. Each of those ways will result in a different kind of market penetration, but each should make you very easy to find and very hard to miss in your target markets.

Put into practice, these two ideas are worth thousands or tens of thousands of dollars in gross commission income just by themselves. I don’t normally keep secrets, but I wanted a big blow-out for Unchained. We have been quietly testing one of the two ideas and the results are coming in quite a bit better than I had predicted.

Are you setting up a separate page for each listing at BloodhoundRealty.com, or are you setting up a separate domain for each address?

For homes we are previewing for clients or photographing for other reasons, we host the pages on on Phoenix real estate web site, on our main file server. I don’t even know how many we have out there. Hundreds, certainly, possibly over a thousand. Someday I want to create a database of links so we can find them without having to hunt too hard.

For listings, we do a single-property web site on a separate domain. These are pretty elaborate, usually running to 60-100 megabytes of content before we’re done: Dozens of photos, an interactive floorplan of the house, a live Google map of the neighborhood, PDFs of the listing and the flyer, along with any historic photos or documents we have of the house, etc. If there is any question we can answer about the house on the web site, we do it.

Then we promote the home’s URL with everything else that we do: The custom yard sign, the business-card-sized open Read more