Ok, so we all know the economy is constantly changing – not exactly a wake-up call. However, ERA Real Estate professionals did recently learn a few “a-ha!’s” regarding how to embrace the economic evolution from Ryan Estis, CEO of Ryan Estis & Associates.  Here are six strategies Estis shared to drive value in the new economy – making the “experience economy” work for you.

 

  1. Be Rock Star Good: If you want to drive performance and growth, you have to differentiate your services and elevate the perception associated with who you are and what you do. There are a lot of salespeople out there who sell what you sell. How will you stand out? Determine your unique strengths and market them.
  2. Know What vs. How: Rock star performers know the difference between what they do and how they do it. It’s how they do it that adds to the customers’ experience. Ask yourself, how are we going to sell? How was I helpful today? How did I add value today? How will I be remembered by the people that I worked with?
  3. Be a Challenger: Have the confidence, based on your expertise and insight, to challenge your customers to make decisions you know are in their own best interest. Challengers offer the customer a unique perspective, possess strong two-way communication skills, know an individual customer’s value drivers, are comfortable discussing money in terms of value rather than discounts, and can gently pressure the customer without jeopardizing the relationship. Being a challenger puts you in control of your business and positions you as a strong advisor and influencer. And a good place to start is to ask open ended questions.
  4. Mind your Price vs. Value: Instead of focusing on price and being financially successful, concentrate on how you can help people. Build value by creating a perceived difference of your product and service versus that of your competitor and a better perceived value in buying what you have. Educate consumers as to why there is little or no risk in purchasing from you and foster the relationship so that the client likes you, believes in you and trusts in you.  To aptly communicate your company’s uniqueness, craft a value proposition – a set of reasons why somebody should buy from you and utilize your service.
  5. Create Brand Evangelists: Your service offering and value is no longer what you say it is; rather, it is what everyone else says about it. Deliver experiences people won’t forget and you will earn evangelism. And as Estis pointed out, with social media, people now have a megaphone to refer and praise you.
  6. Practice Buyology: Delve into the psychology of commitment to your brand. Determine why your customers buy, why people buy what you sell, and why people buy from you. And if you do not know, ask. One suggestion from Estis is to sit down with your best customers and ask them these simple questions. You will learn about what customers want today and in the future, guiding your business plan and value proposition.

Now, with these six gems in mind, practice what Estis refers to as the TAN plan, or Take Action Now. Choose two or three things that you can take immediate action on and see immediate results from in the next 100 days. Most likely, you will begin to see some meaningful traction in your business. Then, in the comments section, let us know what you tried and how it worked for you!

And for more inspiration on how to be a Rock Star at Work, check out this short video from Estis.