Tidbits from The Apartment Nerd

Following up after "Are you the next American Idol?" I wanted to challenge the judges (management) to make sure they are worthy of being a judge and what that means.  If we, as managers, are going to encourage great art then we have to do it the right way.

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Yo, check it dog, what's happenin'.  So, here's the deal.  Execs & Regionals, we are the judges.  Managers & Leasing Peeps, you are the artists.  Start watching American Idol and look at it from this perspective.  You're going to find that as artists you have an opportunity to maximize your talent (and you have the talent).  When you get this far in the competition it's not that you don't have the talent, it's that you have a choice.  A choice to bring the "Wow factor" or to just sing within yourself.  It's a choice, and as execs/regionals (judges) we have the choice to encourage bringing the "Wow factor" or to just push for the status quo.  The rules and guidelines and scripts that your management company provides just allow us to be average and sing within ourselves.  It's about going beyond, making it your own, finding out what kind of artist you are to make it work, stand out, and bring the "Wow factor".

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I've been sharing an analogy with some friends comparing social media to football.  You really could compare business or marketing in general to football, but you can just think about that however you want.  Anyway, check out this week's post and let me know your thoughts.  Is anyone writing your playbook, or are you just going out for a pass?

 

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A pretty simple question, but one I ask myself all the time.

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Yes, this is a loaded question, but it's time some on site folks chime into the conversation.  I appreciate the "expert" opinions out there, but I want to get to the roots for why on site teams think this is so challenging.  Thanks all!

 

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Quick question...

Thanks!

I love the "don't shoot the messenger" posts Lisa Trosien has had recently. Check them out here: Dear Onsite Staffer & Dear Mr. (or Ms.) Property Management Exec.

All excellent examples for why teams don't progress and move forward. Unfortunately, we all have different expectations of each other, but it's how we manage those expectations that affect the game in my opinion. Most people have a tendency to settle and point fingers. Either direction, this just isn't fair. It's not fair to settle for an average boss that continues to just point out your shortfalls, and it's also not fair to settle for average employees that continue to just show up and coast. The lists Lisa shared just points out complaints against the average. It's time to kill average and not accept it anymore. We must do this not by complaining about average, but by overcoming average. You're not being fair to yourself if you don't.

We all have our good days, and we all have our bad. I am not perfect, and I don't believe anyone is. I make a number of mistakes, but always strive to fix them. These are not excuses, but realities and challenges in overcoming average. I have my own shortfalls, and individually everyone else does as well. It's the choices we make to battle through those and no longer use them as excuses that push us above average.

Yes, it's difficult to consistently strive for above average, let alone remarkable, but you could argue that the reason it's difficult is because failing is uncomfortable and scary. What I'm suggesting is that to be successful you don't have an option. Discomfort and fear are no longer excuses. Average in an economy like today gets you laid off, gets your bonuses cut, and could put you out of business. Flying below the radar is no longer possible. Everyone is under a microscope. Customer service jobs are even more so under the microscope and expectations continue to rise. Multifamily is no exception and we all know it.

I get passionate about a number of things, but I believe we can all get passionate about being better people. It's your choice, it's your career. Are you going to change the game? Are you going to become a better student of the game? It's an individual choice. No one is going to make the choice for you or hold your hand and guide you through. I'm going to continue to make mistakes along the way striving for remarkable, and I hope you join me for the ride. Thank you to those that have already joined the apartment nerd ride and have shared and continue to share the messages.

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It may not be a "no" to buying completely, but it could be a "no" to buying today or at the end of a meeting. I think there is power to getting this out on the table. What are your thoughts?

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I am amazed. We watch sports, especially professional sports like golf, football, basketball, and baseball, and I'm amazed at how many people focus on the physical talent or the statistics. The press is the worst at glorifying talent and basing it off of statistics mainly. We see year after year a guy that leads the tour in driving distance, someone that has the most rushing yards, or someone with the most homeruns get so much credit for these measurable statistics. Statistics that without many other factors don't necessarily result in winning.

So I have a problem with this because I don't think enough credit is given to the "true student of the game." The person that is not focused on their talent to perform, but on their drive to be better. Now, I'm not trying to be short sighted and say that true students of the game don't have great talent to be professional athletes (of course they do). What I am saying is that students of the game continue to find a way to one up their competition. Not because they just try harder, but because they strive to understand what it takes to be better. It's a mental exercise and not a physical exercise.

In thinking about this I compare the idea to business. In business, the person that relies on their product to be successful can win. We've seen this happen with numerous fads and "As Seen On TV" products. We've even seen this with numerous commodities that generate revenue. The challenge comes in sustaining success based off of 1 idea or off a price driven model. This is even more challenging when economic conditions like we have today put a strain on pricing, and when new technology or copycats can easily trump the uniqueness of your 1 product. This is why, in my mind, the true students of the game are better poised to win.

What really stood out for me from Tamela's comment was the impressions that different brands leave on her.  While her descriptions are close to what many others feel, not everyone feels that way.  She's exactly right in that building a brand is about listening and communicating.  I believe this is why using new media tools is so important.  A brand may mean something similar to everyone, but it won't be exactly the same to everyone.  It's not that a brand isn't trying to send a message. It's just that those messages are received differently, and we're also influenced by a number of things around us in addition to the message that's being pushed.  That said, by listening to our customers we have an opportunity to dial in on what influences them the most, or what influences most of them.

For example, I don't want a BMW.  I think they are crap.  Fun to drive, but crap.  So I have a different perspective than Tamela.  On one hand, I enjoy driving a BMW.  On the other, I know they break and can be a nuisance.  BMW wants us to believe they are "The Ultimate Driving Machine", but neither Tamela or I embrace that directly (unless that's the main reason she wants one).  Like a BMW, an apartment community is viewed many different ways as well.  Regardless of what message a community is trying to push, each customer is going to have their own opinion.  Some will view an apartment as temporary housing, some will view it as their "home",  while others will view it from many other perspectives.  Are any of those people wrong?  Nope.  Not as long as they are satisfied (whatever that reason may be).  

Then why build an online brand (or any brand) if everyone is going to view it differently regardless of the message we push?  Here's why.  Without some type of brand you are a commodity.  A box with a price.  In addition, you can't be everything to everybody.  Let's be realistic, your customers are listening too.  That's why advertising still works.  It's expensive (and a topic for another day), but it works.  They want to be influenced, and they want to buy something they are proud of (especially a decision about their home).  What you do online, offline, or with anything can and will be a part of that influence.  Is the influence you have powerful enough to overcome other outside influences?  Are you listening well enough to know what those outside influences could be?  With my BMW example, breaks easily, expensive to fix, rides too rough, and isn't very fuel efficient overpower "The Ultimate Driving Machine" for me.  I don't make that decision because of price, I make that decision because of influence.  That's what we're building when we build a brand.  Enough influence that the others don't matter, or are less relevant.  You still won't satisfy everyone, but you will have taken a step toward better differentiating yourself from others.  All the new media tools just take the opportunity to differentiate to another level.

I'll go back to my comment to Brent.  Ask the question, "What are we known for?"  I'll add to that, "What do we want to be known for?"  I believe those are two important questions companies that are struggling to compete on anything other than price should ask.  Can you still be the company/property that is known for the best price?  Sure.  Look at Walmart.  They have that down to a science at this point.  If that's what you want to be known for, then go for it and stick with it.  Find a way to make it happen, but stick to it.  Be the low cost provider.  If you do it right you won't be able to change that without changing your entire brand.  It's what you'll be known for, and it's what will make you successful if you do it right.  I'm not sure if it's really possible in our industry, but no excuses, play like a champion, right?

The way I see it, competing on price doesn't really help differentiate you because anyone can copy you (unless, of course, you're truly committed to being known for that as others won't be able to compete at your level if you do it right).  So, I would encourage companies to ask "What do we want to be known for?", and make it difficult to copy.  Not impossible, but really difficult.  Take it and run with it online and offline.  Be truly known for more than being a box with a price, and get your associates excited about being more as well.  Or don't, it's your call.

On a side note, if y'all have a chance we (Myself, Mike Whaling, and Duncan Alney) had a fun conversation on our weekly podcast that speaks to much of this and about building content for your social media assets.  What's your story?  http://www.blogtalkradio.com/30lines/2010/01/19/apartment-marketing-gone-digital-episode-14