26 years ago, in the classic movie about the real estate business 'Glengarry Glen Ross', the character played by a younger Alec Baldwin delivered what some consider to be the quintessential real estate sales motivational speech. And his message for "always be closing" included the much-proven sales training model of A-I-D-A:
A: Attention . . . get their attention.
I: Interest . . . get them interested.
D: Desire . . . create a desire.
A: Action! . . . get them to act on this desire.
Coincidentally, at the same time this movie was coming out, the core of what are now called "millennials" were being born.
Millennials are the generational demographic group, aged 18 to 36, that according to the 2017 National Association of REALTORS "Home Buyer and Seller Generational Trends" report, now comprises a whopping 34% of home buyers. This group has become larger than Gen X home buyers (27%), Younger Baby Boomers (16%), and Older Baby Boomers (15%).
Born into an age of digital communication technologies, millennials have been defined by their being highly connected through an array of media, and where multi-tasking is the new relaxing.
So how does A-I-D-A apply to this growing and influential group of potential clients in the real estate market? For now, let's look at the "A" for getting their attention.
Getting the attention of digitally-engaged millennials is more than just trying to connect with them through social media. Yes social media is an important part, but it is not the only digital marketing channel. Connecting with millennials requires a multi-channel digital marketing approach, often referred to as "omni-channel":
- Social Media: How regularly are you posting on Facebook? Has the Facebook page that you setup turned into an abandoned amusement park? Or are you continually posting helpful information on a daily or weekly basis?
- Email: Do you have an e-Newsletter that provides valuable, personalized information that is relevant to your sphere of influence?
- Web SEO: Is your webpage or website merely static? Or is it dynamic and automatically update with helpful information for attracting visitors and improving your SEO (search engine optimization)?
- Mobile: Do you offer a mobile app that provides value-added information, that keeps your "business card" in their pocket, purse, or tablet on an on-going basis?
Together these digital channels can enable you to attract the attention of the prized millennial group of real estate clients.
There is clearly a lot at stake with successfully marketing to millennials. And remember what Alec Baldwin's character in 'Glengarry Glen Ross' says, second prize is only a set of steak knives!