Loyalty – 09′

We are all vulnerable to the current effects of the economic meltdown. Apartment communities across the nation will face some level of fallout from the situation, like it or not. From uber premium to boutique apartment communities, everyone will feel it. That is except for those who take real notice of the impending crises. Those who do will move to create an insanely and over the top focus on creating loyalty. And, not just any loyalty. It will be loyalty that rings to the core of the consumer you are trying to engage. My message here is this; you must act in the manner you wish to see in return. Loyalty is not about a card or even an incentive to pay your rent on time like I suggested a couple of posts ago. Loyalty is us, the operator, being loyal to our word as demonstated through our actions.

Inconsistency, lack of commitment or response are not an option in anything we do. We can’t waste our energies on fruitless activities or busy work. In the past we would could sit back and take orders as they came in the door. There was no need to give concern to the back door as our marketing efforts were producing enough volume for replacement. Advice: don’t be seduced by the idea that you can create enough volume to cover yourself. The world will deal you a very tough blow in 09′ if you believe that self talk.

In this new environment, the loyalty of the customer will be paramount to all that we do. The reason? It will become progressively more difficult to find replacement residents. Not impossible but definitely more difficult. That said loyalty should become the operating mantra for 09′. I would challenge every one of you to shoot for the moon in this respect.

We face a time where every community within a thousand mile radius of us will be offering some level of economic incentive to move in and many of your current residents will be inticed by that. Read: plan now. 

Steve Yastrow in his book We: The Ideal Customer Relationship calls the economic incentive: transactional loyalty. He further suggests that it will add sales, leases in our case, to your competitors communities as well as ours if we choose to exercise it. But, it will leave you vulnerable. 

The real loyality you are seeking is the loyalty to YOU. Be crazy and insanely passionate about the relationship aspect of this business. If you hate people, if you hate distraction, if you hate serving – get out now. Move on. Free up your own future before someone else does. 09′ is about relationship. Pause here: I know it’s always been about relationship but how many of us can say we truly and adamantly preach the mantra in our organizations? Truthfully? I stumble with it all the time. Especially when I am spent, tired and ready for the day to end.

Relationship will be huge for me in the way of blog posts this year – Huge! I hope to engage in some crazy amazing conversations around the subject and look forward to it with an open mind.

M