Preparations as COVID-19 Restrictions are Lifted

Each of our clients are different, each community needing specific items as travel and interaction restrictions are lifted. We made these (yep, we made them!) masks for our Ambassador Team at Cadence at Gateway’s Visitors Center, so they may begin to welcome new guests on June 1. They are the real deal, nose bridge, lined correctly, etc. Had a few test runs but these should be safe and well-fitted for our valued Ambassadors!

Observations and Opportunities #2

Well, my last contribution went heavy on the heartfelt, so this one will stick to business—with my business being marketing, predominately in the real estate space.

New media — anything you view on a screen—is priced like cars and diamonds, no one really knows the true costs or value. Priced based on what the market will bear, big tech monopolies are in control. Conversely, Old School media— print, out of home, direct mail —carry costs that are more transparent and fixed. This actually creates opportunities in digital and also makes it tough for Old School to adjust during changing economic circumstances.

With many businesses stopping their advertising (restaurant, services, entertainment etc.) there’s currently a glut of available media inventory. An example: TV (terrestrial and digital) are now offering incredible deals; a short-term opportunity ending as “stay-at-home” ends and we approach the election. And, because TV can’t show a “blank” slot, they’re often “throwing in” your commercial in places; a double win.

In digital advertising in the real estate space, inventory is also shifting dramatically. Here, costs have adjusted downward 30%±, although costs per click have held steady. But, the rate of click-through (to your website or landing page) has dropped as much as 25%. Results? Cost per lead is trending about 15% higher. Confusing? I know! Translation: because media is cheaper, your brand is way more visible with less investment, but your ads must work harder (more direct, creative, beneficial) to get the same number of qualified leads. And, to complicate things, once that digital lead gets to your sales team, the conversion rates (a sale made) are already down by 20%+.

Some potential good news: with most tours by appointment only, we’re seeing sales teams treat digital leads much more reverentially. Salespersons accustomed to serving the walk-in customer are adjusting; learning how to love, honor and cherish digital leads like never before. That’s a real opportunity to finally put 21^st Century analytical nurturing in place — so those precious leads are never wasted. This big data nurturing can be confounding at start up, and blurs the line between marketing and sales, so it’s often the last tool implemented (if at all). But I believe it will emerge as marketing’s big winner, and those companies who commit will be well ahead of the pack.

• If you’ve historically struggled for share of voice, now is a good time to push into “screen” media. There may be fewer buyers right now, but those who need to buy can now find you.
• Be careful with your message. Creative from 45 days ago may be tone deaf today. AdWeek’s Smartly.io study reports 85% of consumers want brands to address the pandemic directly in their communications and Reuters reported brands are already moving past somber messages towards humor— things are happening fast.
• Don’t “set and forget” — watch your campaigns closer than ever. Access “extra” analytics (there’s more than Google). What you find will usually surprise you. Apply learnings and modify, adapt, improve your campaigns.
• Examine whether you’re using the right tools to handle digital leads as we emerge from this time. Big Data nurturing will be more important than ever going forward.

Hope this is useful!

Claudia Sieb
The Sieb Organization, Principal
Vice Chair, Urban Revitalization Council, Gold
Leader Emeritus, WLI AZ

Observations and Opportunities #1

Observations — The New Social Convention

We’re eight weeks in and by now we‘re all working within our habits. Not shell-shocked or overly fragmented, people we know seem to be keeping to a steady work ethic, eating healthy and engaging in regular exercise even if via ZOOM. We have turned some attention inward and are enjoying our homes— the ubiquitous symbol of why we work in the first place. Sure, we are restless, but we’ve adjusted and that’s good. We are, after all, an inherently industrious species.

I don’t know anyone who has “checked out” to their boat in the Gulf of Mexico — and we all know some folks who could. Instead, people are applying themselves to the problem, their role in figuring out the next steps in the economy, and their responsibility in keeping themselves and others healthy and safe. For the first time in a long time, we are (mostly) highly democratized in our reaction to a major global issue. It’s terrible and it’s a wonderment, this new social convention.

What I observe mostly is calm determination. Everyone we know is contributing in some way beyond themselves even when they may never see their results. They are strategically looking at the next phase economy, keeping employees employed, making masks, and wiping down shopping carts. They are doing it as much for others as themselves. Some are heroic in their own small way— my daughter gave blood knowing well that she would faint (she always does) — and donated anyway. Most people are pretty quiet about their efforts to help—they send money and supplies to the Navajo Nation, sew dozens of masks for anyone who needs them, (after the first dozen it’s not that fun) donate meals to front line workers—they’re just doing what they can do. My observation? We are, at this moment, becoming better.

Opportunities — Response and Responsibility

With our Clients: They say we’re in the second inning of a nine-inning game. Right now, it’s hyper-critical to measure every client expenditure against returns, to over-perform, and to keep client interests before ours. We’re thinking beyond “triage”; we look to where the client’s puck is going, their forward vision. We all knew the frothy years had to end and the smart folks have been preparing. Our smartest clients have been advancing new asset classes, incorporating new team modeling, expanding investor relations, and exploring new industry technology. We’re at their side to create heightened visibility and new awareness, raise their profile, assist with the gaps in their outflow. Working on these future-forward initiatives is invigorating, and where we see the opportunities.

With our Team: Sieb employs lots of young people, many contracted team members, some with kids, some whose spouse is suddenly out of work. For Eric and me, this is an opportunity, an obligation, to demonstrate compassion and humanity, and put our experience to work. Many of these young people didn’t have the luxury of learning from the last Great Recession or preparing for this one. Now, it’s up to us to help where we can. Some things, like fast-paying invoices, are simple but help. We’ve made sure our key players are set up for success at home— upgrading home computers, archival access, updated creative-suite software, more day-to-day help with prioritizing. Mostly, I try to remember that I live in one of the most successful cities in the most successful country on earth. I have it good. But there are people really suffering; really hungry and really scared. They can’t make their mortgage, or are struggling to teach their kids at home, or have an isolated grandmother, or are not a registered citizen, or are in a refugee camp. My biggest opportunity is to escalate helping others. To develop better habits.

Claudia Sieb
The Sieb Organization, Principal
Vice Chair, Urban Revitalization Council, Gold
Leader Emeritus, WLI AZ