Archive for February, 2010

February 25, 2010

Is it me, or do recent economic reports have something in common?

“U.S. Jobless Claims Rise Unexpectedly” (Associated Press)
The number of newly laid-off workers filing applications for unemployment benefits in the U.S. unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.

“U.S. Economy: Equipment Demand Slows to Start 2010″ (Bloomberg)
Orders for durable goods excluding transportation unexpectedly fell 0.6 percent, the most since August, while a measure of bookings for business equipment showed its biggest decrease in nine months, the Commerce Department in Washington said.

“New Home Sales Hit Record Low, Prices Tumble” (Reuters)
Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.

“Consumer Confidence in U.S. Falls More Than Forecast” (Bloomberg)
Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers.

» More: Recent Building News Require Action!

That you have not had to do in the past?

Salespeople are under a lot of pressure to win new business. This fact hit home a few weeks ago when I spoke to a Sales Person who uses our sales training. She let me know that she is expected to bring in prospects in addition to the prospects walking in the door from Builder advertising. In fact, her builder has given her goals to meet in this department. She must keep the pace. Just 2 weeks before, her company laid off a slew of underperforming Sales People.

I have to admit, just speaking to her made me a bit excited because she seemed very eager and excited to meet her goals I know she isn’t the only Sales Person who needs help, so I’ve come up with some ideas to help you and your sales team meet your goals. The good news is your prospects are “hiding out” in some very nearby places. When you are looking for then sometimes those prospects are right under your nose.

Here are 3 ways to sniff out new prospects

Tip #1: Know your Prospects
If you know who your prospects are you can market to them. You must keep track of your prospects, who they are, where they work, where they come from and where they live. Once you know this you can start a database to track these findings. If you see a pattern of prospects coming from one particular source you can market to that source. It might be a certain employer apartment complex or surrounding community. Once you know you can come up with a marketing program around the source. » More: Tips for sniffing out new prospects

A SAD BUILDERS STORY
I recently did a competition shop for one of my Builder’s in a competing subdivision. In this particular area, there was a group of Builders who all decided to shut down their communities due to the poor economy. They just reopened about three months ago, to try the market again after a two year hiatus.

I entered the Sales Office and was greeted by a young Sales Agent in his mid to late twenties.
He greeted me with a Hello and handed me a stapled stack of papers that had his floorplans and models and pointed towards the door to the models. I asked if he had a price sheet . He then said, “We don’t have a price sheet due to the lot sizes, each lot is different.” He said, “take a look at the models and let me know if you like one and I can tell you what we have available and how much the price is.” I pleasantly but quickly said, “No, I am not going to waste my time looking at your models if I don’t know price ranges, how about an idea of your base prices?” He stammered and stuttered, he talked about the fact that some are modeled, some are not, some have lot premiums, some don’t, he came across to me as he didn’t know what he was doing and as a prospect it was not only confusing but irritating. It’s called the shuck and jive and I was getting it. It was a very strange way to sell homes. An older, more seasoned Agent came out checked me out and walked back into his office. No real interaction. That was strange too.

Now sometimes a Builder will put a more experienced Agent with a newer Agent, so the newer Agent can learn from the more experienced Agent in action. In this case, I think the more seasoned Agent was busy doing things in the office and he had the younger Agent handling the door. But when you think about it; What is more important than the prospect walking in the door? The seasoned Agent should have come out and either worked with me or explained the policy better because the younger Agent wasn’t doing a good job of either. » More: What you don’t know, WILL hurt you!