3 Resolutions for FY19/20
Happy New Year! Well, financial new year, that is.
A popular phenomenon to celebrate the first day of a new calendar year is to set both personal and professional resolutions. So, what about the new financial year? Sure, the occasion isn’t as momentous as January 1, but it still marks the start date for many new legislation and important changes affecting business owners and property professionals alike.
It’s also the perfect time to reflect on the financial year that’s been, assess areas for improvement and implement innovative initiatives to drive further success and growth for the months ahead. If the unforgiving market of FY18/19 left your marketing and sales teams floundering, here are some effective resolutions we suggest you implement:
Refine your value proposition
What value do you offer for customers? What pains do you solve and what gains do you offer? Why would customers choose your project or product over your competitors’? And why wouldn’t they? Answering these questions and establishing a clear value proposition that’s understood by all members of your business is crucial in order to implement an effective marketing plan. For this reason, there’s no better time to solidify your value proposition than at the start of the new financial year. It will help you to clearly identify what strategies you can implement to really add value for your customer segments.
If your project could do with a Value Proposition or a revival to kick off FY19/20, Property Republic has put together a workshop that involves the whole project team, so you are sure to achieve alignment and buy in. Get in touch here.
Put the customer first
If the customer isn’t already positioned at the forefront of all your initiatives, they seriously need to be. In a market where customer expectations are rising exponentially (and rightly so when they’re making the biggest purchase decision of their lives), it’s essential that you develop an effective customer experience strategy that covers every touchpoint. Sales people: you need to make capturing customer data a priority. Ask questions and record information that will help the marketing team make great marketing decisions. Marketers: you need to own the customer experience in the project lifecycle and utilise external experts to help you deliver market-leading strategies – above, through and below the line as well as at the front line.
Open the lines of communication
Whether internally or between brand and customer, lines of communication need to remain transparent. Communicating openly, honestly and as often as possible with your customer is the key to establishing relationships based on trust. This is especially crucial when it comes to delivering bad news. For some ideas on how to best communicate bad news – such as title delays – to your customers, read our blog. Effective communication works both ways, so embracing and responding to feedback from your customer is just as important as delivering information to them. This financial year, ensure that you’re providing your customers with an opportunity to provide feedback on your product or service; and be open to criticism. The insights you receive from your customers hold all the answers as to how you can make changes that will enhance the sales process. You can gather this feedback through incentivised questionnaires or surveys that are sent out to your database via email. Communicating with your customers requires minimal investment but reaps wonderful rewards, so it’s definitely worth implementing. Opening the lines of communication within your internal team is also essential to ensure each staff member is working towards a common objective and that your sales and marketing personnel are aligned.
If team alignment is something you’d like to achieve in FY18/19, we have the perfect workshop – so get in touch!
We all know that following through with new year’s resolutions becomes a challenge as we sink back into our usual habits. To ensure your new financial year resolutions stick, and maximise growth, productivity and success for your property business, be sure to reflect, reassess and refine your goals regularly.