7 HEADSTART 2011 Jim Bottomley September 15, 2011 Work=Meeting NeedsSuccessNeed SatisfactionJim Bottomley
8 Evaluating an Opportunity Is it on trend?- a need that is growingNeed Satisfiers identified?- target groups / defined goalsBetter Benefits provided?- solutions delivered in a betterway than other options
9 Technology is the lead-edge of change… Trend Areas1. Technology2. Economic3. Social/Cultural4. Demographic5. Political/LegalTechnology is the lead-edge of change…
10 Canadian Agriculture will impact the World! The Global Picture7 Billion to 9 Billion by 2045 ?Developed world pop. growth dependent in large part on level of women empowerment1 billion more people in middle class – increasing demand for meat (takes 4 lbs of grain for 1 lb of meat)Canadian Agriculture will impact the World!Land prices becoming a global standardAs are world-class cities…
11 Technology Changes + or - + Higher levels of productivitybased on new technologies(new long range cycles coming)- Industry redefinition; often job loss, followed by increasedcareer shifting
12 Major World Economic Eras 1. Hunter Gatherers2. Agricultural Age (90% to 2%)3. Industrial Age% of Jobsin Production 69% 53% 30% 15% 13% 11.5%4. Information AgeA whole new set of opportunitiesand challenges...
13 Widening Gap Between Highest & Lowest Income Earners? HEADSTART Jim Bottomley September 15, 2011The bar for minimum skills in all professions/careers is risingHow does an uneducated person find job security in the future?Less traditional family & community supports to help the least fortunateThere will be a growing needfor housing to fill the gapsJim Bottomley
14 The Rise of Small Business Transitions between economies – maximizes opportunities for small business creationSmall business has been the major generator of job growth in CanadaFuture trends point to high growth continuing for small business in CanadaHome offices and wired homes –can the office of the future be virtual… and at home?
15 Trend Convergence: The Age of Innovation We are in an era ofmaximum change!We are entering the5th Economic EraTrend Convergence: The Age of Innovation
16 Wealth = Technology X Resources HEADSTART Jim Bottomley September 15, 2011Wealth = Technology X ResourcesNew Technology comes fromCollaboration, and now, new tools!Maximum potentialfor innovation…JimJim Bottomley
17 Industry Transformation HEADSTART Jim Bottomley September 15, 2011World markets - finding your niche(s)New Methodologies:-Internet -Radio Frequency ID-More complex J.I.T. logistics-Quality & Green StandardsReducing costs – collaborative automation and continuous process improvement keyBig wins in client satisfaction possible –interactive transfer of information – knowledge has value!Knowledge comes thru collaborationJim Bottomley
18 The Ultimate Regional Alliance: Forming Regional Clusters Centres of Excellence are mostly associated with research onlyClusters focus on area of lead-edge need, with collaborative public and private sector partners conducting research, commercialization and serving to promote regional economic growthRecruitment & retention tie to regional identity, economic development & quality of life
19 The Regional Cluster’s Ultimate Goals Develop new products and services which could be exported – creating high paying jobs & economic growth for the areaSynergies for Cluster PartnersBranding the region to attract investment, skilled labour and additional Cluster partners
20 Potential Clusters? Match with regional strengths On-Trend – world-wide demand themesConnect to lead-edge researchand/or application/testing of the better benefit solutionsPrivate & Public Partnerships
21 Challenges Developing Regional Vision For Regional Tourism, the more input, the less differentiated the message tends to beFor Clusters, a sector focus limits identification of marketplace opportunities – better “how’s” transfer across industriesLanguage that stimulates innovation involves better benefit goals – and can connect Clusters to recruitment to regional branding
22 Energy & Sustainability When is peak oil?Awareness of climate change growingNo magic bullet green solutionSolutions will involve many small & big steps involving businesses and consumersExpect to be carbon aware; likely tracked and traded
23 Smart Planning The New Urbanism Higher density & diversityWalking, biking, public transitSustainable with lower ecological footprint100 mile rule – farmers’ markets and urban gardensFriendly, interactive and community-mindedUnique identity and sense of place
24 Promoting a RegionIncreasingly, not only infrastructure and business conditions, but social/quality of life factors are importantIn future, companies will locate where people want to liveCommunity health and positive lifestyle offerings will increasingly be important to economic health
26 HEADSTART 2011 Jim Bottomley September 15, 2011 Jim Bottomley
27 Aging Population Baby boomers currently 45-65 with peak year at age 50 Single parent & blended families are biggest growing family type – also more often extended familiesHighly skilled people in their earlier years want action, vibrancy & diversityEmerging trend? Baby Boomers & immigrants moving to small towns/rural – seeking nature, friendliness, safety & good health careThe future of crime is fraud(identity theft and title fraud)
28 Customer Perception: “I’m Not Aging like everyone else.” HEADSTART Jim Bottomley September 15, 2011Customer Perception: “I’m Not Aging like everyone else.”Recent research has shown:Boomers generally perceive themselves as 14 years younger than their actual ageAn example: Gap launched a line of clothing for women over 35 – actually over 50Lifestyles now more important than ageJim Bottomley
29 Demographic TrendsAttracting skilled labour will be a bigger and bigger challengeImmigration will grow - and diversity stokes innovationMany workplaces now have 4 generations working together – in many places it’s skewed to older and youth
30 Communication by Generation Gen X’s – born ‘65 to ‘80 (31 to 46)- less in this group – up against boomer power- weaker job market following the boomers, who also bid asset values up (realists)Gen Y’s - born ‘81 to ‘99 (12 to 30)- grew up in homes with absentee parents- great L/T career prospects – have powerBoth groups are members of the CreativeClass – less structured, seeking creativestimulation, want to be involved indecisions & embrace new technologies
31 The Millennium Generation Saw parents’ sacrifices- lifestyle work balance soughtRaised with adulation & goodwill– expect thanks and involvementEmployers must coach not bossHave bright employment prospects- they’ll walkExtraordinary Tech Skills
32 Social Trends Environmental sustainability; connecting with nature Stress relief; seeking life balanceCocooning: safety & securityReturn to family values- Inter-family experiences soughtThe “creative class” seeks vitality stimulation & is time-challengedCaring capitalismRemote technology- Alternative work styles possible
33 Most Important Social/Cultural Trend The RiseofIndividual PowerThroughKnowledge
34 HEADSTART 2011 Jim Bottomley September 15, 2011 ResultMore demanding, knowledgeable purchasersFocused need satisfaction strategies are the key to success in the new economySuppliers increasingly are “partnering” with buyers/client organizations to achieve need satisfaction – integrating supply chains and more robust servicesEffective communication strategies are changingJim Bottomley
35 HEADSTART 2011 Jim Bottomley September 15, 2011 ResultAccountability & success tracked and made publicHow to best measure impact?How to measure if needs being met?How to track need satisfaction over time?How to measure organizational efficiency?Effective reporting & communication strategies are changing…Jim Bottomley
36 Cultivating your Fives Find out your 5’s and engageThey can become your market intelligence, salesforce, researchers and promoters (LinkedIn is like Facebook for professionals)What topics do you play in? How can you contribute to advancing the world of that topic? Who really cares about that topic?Remember it’s about meeting needs…Key Question:Why should someone engage?(Ego, identity, exclusivity, money, knowledge and/or entertainment)
37 Key to Sales Success Trust?? To a customer, a good sales transaction is based on their perception of whether:The salesperson’s #1 priority is to put money in his/her own pocket or truly to meet customer needs?
38 Leadership is Changing OldManagement is Control & setting rulesCOP - MonitorCoercion; Top Down, Leader DirectedTotal AuthorityFocus on the presentNewLeadership is Motivational & guiding valuesCOACH -InspireRespect, Self-management, TeamsShare AuthorityFocus on the future
40 From Mass Markets to Niche Markets to a Target Market of One
41 The 5th Economy Is Coming… The Age of Innovation HEADSTART Jim Bottomley September 15, 2011The 5th Economy Is Coming… The Age of InnovationA combination of…DNAComputerizationRobotics & Process AutomationNanotechnologyDriven by Customization &New levels of Customer CollaborationJimJim Bottomley
42 The Information Beast Has Escaped the Zoo Microsoft Data predicts the world’s information data base will double every 7 days by 202024/7 communication accessInfo attacks us everywhere and anywhere+4,000 ad messages / dayWe’re Good at Tuning Stuff Out…All communications must be clearer and focus on stakeholder needs…
43 Better Benefits: Better Benefit delivery is our Attract attention in the age of information overload – drive brandingOur reason for buying anythingDrive motivation & investmentDefine the value of each step in a processBetter Benefit deliveryis ourcollective and individualreason for being
44 Strategy for $$$$$Moving from lowest price to providing added-value at higher margins?Requires focused better benefit strategiesInvolves providing specifichigh-priority need satisfiers better than competition… andproving it over time… your sales “story” should reflect this
45 Marketing/Branding Success Positioning Message(Better Benefit Message)Company/product is the who/what you arethat offers better benefit(s)Keep promises or apologizeSurprise and delight
46 Delivering on Brand Promise Understanding (of customer needs)Identification (of competition)Planning (an integrated effort)Learning (what actions work/don’t work)Delivering (as promised!)Evaluating (and measuring)Improving (and continuing cycle)SOCIAL MEDIA SUPPORTS THESE STEPS-connects people to communities efficiently-brand is the sum of conversations re. you-listening & responding & promoting story
47 The Innovative Organization People understand the total systemDecision making at all levelsInformation to those who actNo artificial barriersSupervisors manage not policeMake jobs to fit strengthsProblem solving is shared
48 Process Design Guidelines Look for:Disturbances/problems in the process – never hand off a problem to the next stageRedundancies/non-value added hand offsInefficiencies/deficiencies/delaysDoes the step add a better benefit or not? Are goals related to need satisfaction measurement?
49 Motivation = Clear and Shared Goals x Tracking & Measuring & Communicating Success x Rewards for Achievement
50 LeadershipCommon goals are key for team success (managers change from cop to coach; need to align goals of the organization with those of each department with those of the individual)Change Planning involves identifying both the positives and negativesInvolve people in the processEgo-less Management…supporting the stressed and stressing the positive…
51 Electrical Career: Sales Pitch Hands-on & funWork anywhere in the worldIntelligent: new technologyMost respected & popular tradeWell paid careerWork insideExciting (dangerous?)
52 Manitoba Hydro Career: Sales Pitch Career Variety: Several Careers in OneImpact Future World Issues-powering economic growth with sustainability & environmental protectionManitoba Hydro International– work the worldQuality of work life balance- flexible work cycle – time off, etc.Leader in diverse work environmentAbove average pay scale
53 The Anatomy of Innovation It worksBrass band and fireworksMaybe not a bad ideaThis is taking timePessimism OptimismAttitude to the ActivityResults aren’t visibleIs it worth it?EnthusiasmThe DarkNight of theInnovatorSkepticalStart to see payoffsExisting business is sufferingWeeks or Months Up to Two Years
56 The Future of Real Estate: Issues? Macroeconomy? Good or Bad?Baby Boomer Choices? Rural? City?New Technologies? Key ones to test?Changing Homes? What’s next?Changing Competition: Strategies?Changing the profession? Strategies?Utilizing social media effectively?Other Issues?
58 The Information Age New strategies! New Skills! An Era of Maximum Change…Change Causes Stress…More opportunities than ever before for small business…New strategies!New Skills!
59 Future of Real Estate: Big Issues The future of the world economy? Bubbles? Canada? The future of housing?Changing needs? Smart Cities? Green Living? Do customers want it? Do they pay? Is there a shift from 2nd homes to a dream lifestyle?The competitive environment? How to better satisfy customers? How to support a higher price for services?Are success strategies changing? New strategies which may work better in future?
60 Marketing & Sales Messages must be Focused & Simple… Information Overload24/7 communication accessInfo attacks us everywhere and anywhere+4,000 ad messages / dayMarketing & Sales Messages must be Focused & Simple…
61 Let’s Plan a Cruise What need should we focus on? What would our dining room look like?
62 Features Benefits Any characteristic of a product or service The need(s) a feature meetsCustomers are attracted to need satisfaction – Benefits!Why choose one over another?BETTER BENEFITS!
63 Keys to Planning Success 4th Dimension PlanningKeys to Planning Success1) TrendsNeeds that are growing2) CustomerTarget groupsNeed priorities and benefits sought3) CompetitiveIdentify other ways needs can be metIdentify Your Better Benefit
64 4th Dimension Planning 4) Internal Analysis Your vision & goals? Capabilities? Resources?What needs to be put in place to deliver the Better Benefit?
65 Steps to Effective Planning Brainstorm all needs you could cater to… as long a list as possible since often innovative ideas come from combining needs or stacking on additional needsFor each need listed, examine trends – which needs are growing – where will we focus?For each need priority listed, what would the various target groups be who care most about that need being satisfied?For each Target Group, what better benefit story is most relevant?For your organization, what needs to change to be more effective?
66 Better Benefits:Reflect a better way of satisfying a customer need priorityAre the keys to establishing brandingShould reflect the overall organization, but may vary by type of service or clientIndividually, are the route to career success
67 Every business owner has more than one business… Marketing dollars are better spent the narrower the niche you targetEvery business has many table legs to consider – with the potential for separate marketing approaches for each
68 Rifle Shots vs. ShotgunA key success factor for the future in all industries is the ability to serve more than one target customer using separate marketing strategiesLeads to the question of focus(managing your tabletop)
69 Higher Prices – Higher Profits Better benefits support higher prices and better marginsCommodities lack better benefitsRemember the 2 of 3 rule re. quality, speed and lowest priceBattle scope creep with clear communication conduits
70 Effective Pricing Strategy Are you establishing price based on cost-plus formulas?ORAre you establishing price based on what the market will bear?Start with the customer range of prices and look to compare where the product fits in on a better-benefit basis – often, margins can be improved
71 Strategy for $$$$$ Moving from lowest price to providing added-value ? Requires focused better benefit strategiesInvolves providing specifichigh-priority need satisfiers better than competition… andproving it over time… your buying “story” should reflect thisOften involves alliances to achieve
72 What Are a Home’s Benefit Themes? Safety, security, peace of mindConvenience? Travel time to work, school, interests?Active, healthy lifestyle?Connection-to-nature lifestyle? Outdoor living?Serenity? Peace? Spiritual need? (magic sunsets)Aesthetics? Reflecting a certain style/lifestyle?Better community experience? For what community? (golf, skiing, other activity? Attitude? Ethnic group? Work group? Telework?)Elegance? Success? Exclusive to a certain class?Multi-generational sharing?Handling special needs? Aging? Health issues?Better by family style? Singles? Aging?
73 Think of Housing AdsCan you identify a feature-driven ad you could change to a better-benefit driven ad?Share examples with your neighbourShare best ones with us all?
74 Key to Sales Success Trust?? To a customer, a good sales transaction is based on their perception of whether:The salesperson’s #1 priority is to put money in his/her own pocket or truly to meet customer needs?
75 High vs. Low-Involvement Buying process For low risk/involvement purchases, a simple better benefit message is effectiveFor higher risk/involvement purchases(a home), client seeks information and compare own need priorities for at least three different optionsA good salesperson’s role is to help clients develop their “chart” - and then help them evaluate optionsAfter-sale anxiety (second guessing) must be dealt with if relationship is to thrive
76 The New-Economy Sales Process Prepare questions to qualify need prioritiesPartner with client to review need satisfiers focusing on action plan to achieve goalsEstablish ongoing communication and future interventions
77 Client-Partnered Selling Process Introductions & chit-chatClarify overall brand promiseQuestions to determine specific need prioritiesPresent “better benefit stories” matched to needs identifiedAnswer ObjectionsClose the SaleAfter-sales follow-up to improve brand promise / word-of mouth
78 Questions to Determine Need Priorities? Are their good ones that you use to better determine customized client need priorities?This is a future strength of your network…Share good questions?
79 Toughest Client Objections? There are only five types to prepare for...What are best ways to answer these objections?
80 Types of ObjectionsNeed – don’t need; or can’t believe need can be satisfied betterSource – Company or peopleTime – Not right timePrice – Too high, or too lowAfter-sale Follow-up – Implementation / Training / Support / Problem-solving / Delivery / Performance Tracking
81 Marketing Realities Very expensive to market direct to consumer Need to stimulate future purchases(loyalty programs/viral marketing)Strategy is to get key influencers to recommend providerIn the age of information overload, simplicity and repetition is essential – branding is key
82 A promise of better benefits consistently delivered with What is a Brand Promise?A promise of better benefitsconsistently delivered withthe highest level ofsatisfaction versus direct andindirect competitors
83 Peace of Mind - Long track record of meeting needs successfully “Helping You is What we Do” - better need matching with local knowledge and a focus on customers for a lifetimeCanadian owned with real impact on local community (Ex: Shelter Foundation)Culture of open/sharing/support/family
84 Delivering on Brand Promise Understanding (of customer needs)Identification (of competition)Planning (an integrated effort)Learning (what actions work/don’t work)Delivering (as promised!)Evaluating (and measuring)Improving (and continuing cycle)SOCIAL MEDIA SUPPORTS THESE STEPS-connects people to communities efficiently-brand is the sum of conversations re. you-listening & responding & promoting story
85 Branding Success Two Components 1) An ad that is “pretty” Stands out Attracts interestMemorable2) An ad with a “message”
86 Marketing/Branding Success Positioning Message(Better Benefit Message)Organization/product is the who/what you are that offers better benefit(s)
87 Sales SuccessAbility to combine a clear better promise reflecting individual client need prioritiesWITH…A “story” to prove the promise can be delivered- unique skills /process- client experience- performance / quality- unique relationship
88 Agent Better Benefit Pitches? Relationship: low-stress, ease, speed, convenience, low price (lending options)Identification of needs of clientFinding suitable homes to buyFinding suitable buyers effectively (mkting)Getting a better sale price (staging, etc.)Better peace of mind –risk assuranceBetter impact on community – valuesBetter meeting specific needs (property type)Better long-term relationshipANYONE Like to SHARE GOOD ONES?
89 The Entrepreneur Improving leadership … and management… … and teams
90 How Should You Spend Your Time? What % of Time Now vs. Future? Operational/delivery ____ ____Organizational/HR ____ ____Technical ____ ____Financial ____ ____Marketing & Sales ____ ____Research & Dev’t ____ ____Process Improv’t ____ ____Visioning ____ ____
91 Stages to Effective Delegation Establish joint goals and quality standardsGut-check skills required and provide supportsBe clear on decision-making boundariesBaby steps & check-backs, celebrating wins and “giving it up over time”
92 Keys to Employee Retention HEADSTART Jim Bottomley September 15, 2011Keys to Employee RetentionCulture of respect and thanksQuality direct supervisionGranting other priorities - family time - flex work timeTeam-based culture - funRewards for measured successClear vision matched to need prioritiesCreative stimulationIndividual impact – local & worldJimJim Bottomley
93 Leadership and ValuesRemember that organizational values drive behavioursValues reflect the culture and are transferred from the top(walking the talk)What are your values in relation to the stakeholders you interact with?
94 LeadershipCommon goals are key for team success (managers change from cop to coach; need to align goals of the organization with those of each department with those of the individual)Change Planning involves identifying both the positives and negativesInvolve people in the processEgo-less Management…supporting the stressed and stressing the positive…
95 Customer Service Satisfaction CollaborativeShowing EmpathyFocus on customer need prioritiesPartner to solve needs/solutionsPrepare for objections – Price, Time, Source, Follow-up, NeedKeep promises or apologizeSurprise and delight