Get Ready for Growth : simplebooklet.com
Key Takeaways and Insights
Charlie Young, President & CEO
Align and focus on future growth
10 -8- 20
10% sales volume market share / 8% unit market share / 20% sales price premium
Many of PAH companies are over these numbers in your local marketplace
Need to continue to be a leader in the categories and motivate to continue to grow
Important because they are quality measures (8% and 20%)
BHAG is 25,000 net incremental agents by 2020 = 11 agents/office over 3.5 years
How are we going to do it?
*Present ONE CB to the marketplace
*Utilize the brand in the way it was intended to be used
*Invest in growth initiatives
*Pilot in place in early July for recruiting agents in 6 markets
*Quick test, if test works, then we will roll out by the end of the year
*Looked at under-served markets (1%, 2%, 3% market share) and identified those markets / talk to local operator to stimulate growth in the marketplace and try to find a way to get us to our goal of 10%
*Serve agents, brokers, and consumers
*Agents making more decisions for themselves. Re-direct marketing dollars to serve agents
*Differentiate via Products and Culture
*Focus on Zap platform, CBx and Smart Home
*Major investment in our learning platform / recommitting to education experience
Value Proposition: #1 place where they fall down is ability to articulate VP
Think about it two ways – consumer and agent/broker
Can model it back home in your marketplace
Getting to 10-8-20:
Mike Fischer, COO
Brand Vision & Growth Strategy
10 – 8 – 20 is the goal…leads to momentum.
Assuming market grows by 22% through 2020
Brand Engagement – are you using the CB tech suite to your advantage?
If they are using the back end of Zap, your agents will be more productive.
Direct correlation between logins and increased agent productivity
BHAG 25,000 net new agents over four years
Broker Growth Panel
How do you approach growth?
Do you set growth goals?
Net agent growth/organic recruiting
Don’t hold onto agents who aren’t producers?
Success with other CB tools
How did you ID M&A prospects?
Culture to recruit and retain agents?
Quick recruiting tip –
How to encourage agent usage of brand products –
*Share agent success stories to help drive attendance at agent training
Quote of the event:
And these are the stats:
Coldwell Banker Rick Canup, Realtors
Dr. Kaihan Krippendorff is the founder of Outthinker, a former McKinsey & Co. consultant and author of four business strategy books, most recently Outthink the Competition. A sought-after keynote speaker, recognized expert and popular blogger on the topics of business growth strategy and innovation, he is helping a growing cadre of leading companies and corporations such as Microsoft, Oracle, Johnson & Johnson, Kellogg’s, TIAA-CREF and BNY Mellon prepare themselves to compete in a digital, agile, purpose-driven future.
A graduate of the University of Pennsylvania’s Management & Technology Program, Kaihan has spent more than a decade studying the intersection of language, technology, and innovation to drive competitive advantage. He earned his BS in finance from Wharton Business School, BS in mechanical engineering from the University of Pennsylvania, MBA from Columbia Business School, and Doctorate of Science in Economics from Abo Akademi.
The question today is how to disrupt and find the 4th Option.
First they ignore you, then they laugh at you, then they fight you, then you win. - Gandhi
When the competition doesn’t take you seriously, you can sometimes advance your cause before they are ready to engage you. You can win.
To grow, some companies can cut their fees and reduce margins. But others, like Urban Outfitters, work with a very small demographic and think about everything differently. From the inventory, from store management, from displays.
The Lesson: Look for 4th Options for your business and you may need to look in unusual places.
How to come up with 4th Options?
Predictable ideas come up with similar processes. To come up with different ideas, start with
Expand and come up with lots of ideas
Analyze to find strategies,
Sell – to figure out how to get buy-in.
To expand your thinking and recall more information or to generate more options, find a way to recall more information with new memory tricks.
Finding strategic narratives:
3 Narratives that successful companies use
5 Narratives to find a 4th Option:
(i.e. – Bcash – finding a way to solve a problem before the competition can get there)
Gretzky was great because he skated to where the puck was going to be not where it was…
A pet food company had to think beyond on how to track animal health…a fit-bit to the collar…or an implant that can give info on activity and health and then give options to have Vet input or medicine automatically sent…look for technology, buyers, sellers, social shifts and marketing approaches that may be options
McMillan created Spoon Reads for the Romance segment…you can submit manuscripts…get ratings…and then a contest determines who gets a contract (much more cost-effective than the typical process)
"Best Doctors” – supplemental health plan…gave 2nd opinion; many cancelled primary doctors recommendation…company is growing at 30% a year because it is good for the world.
Bright Farms is growing food the right way and for the right reasons
MasterCard CEO ia using digital technology because of transparency and accountability, changed their culture and aligned behind being a force for good
Air Asia – Did not attempt to compete with existing customers…went after customers who were not in the market – railroad customers –
Ikea was created because competition did not want him in the game…he created a new game and started IKEA.
BOOGIE WIPES…exact same product as a baby wipe…created a different approach and category…sold on a different shelf and different row in the grocery store…P&G eventually hired her away to run the Puffs Brand for them…
Thanks for joining us, and see you at Gen Blue in October!
Special thanks to the in-house journalists that helped pull this content together:
and the entire Home Office team.
An *extra* special thanks to bob Christian for
all his help and support.