– Hey, today we’ve got
the legendary Tiffani Bova talking about client experience, and differentiating yourself
from the competition. (bright rock music) – Hey, welcome to Tom Ferry Show. I’m super excited that
the legendary @tiffanibova make sure you follow her on Twitter. Evangelist of growth and innovation at that little company called Salesforce. – Yup, small little
company, small little town in San Francisco. – All these extraordinary
people that are watching this they’re in real estate,
they’re in mortgage, they’re in insurance,
they’re in title sales. But they are like you and I, they are cut from that
interesting cloth called sales. – Yes.
– So, take just a second and share with, you know all the people
that are watching this, who is Tiffani Bova, why should we care? Like I know you’re a baller
when it comes to sales and certainly in marketing. But give them a little insight on, who’s Tiffani Bova? – So I were just to describe myself, I call myself a recovering seller. – Oh, I love that. – Because I no longer carry a quota. But I wake up every day, – Yes. – you know fighting the
fight to try to help sales people out there around the globe, – Yes. – be better and be more
productive and hit their numbers. So that’s what I spend my days doing. So I vicariously get to
sell through everybody I get in front of which is, I feel like I carry a global quota. – So I get to do it for
the real estate industry, you’re doing it for Salesforce, and then all of their gazillion partners. – Yeah it doesn’t matter what industry, it doesn’t matter what industry. – All right, so let’s– – I think sales is sales. – But let me, so check this out you ready? So, most powerful women and
influential women in California by the National Diversity Counsel, top 50 marketing thought leaders by Brand Quarterly Magazine. Let’s see real fast here
there’s one of those that just moved me. One of Inc Magazine’s 37 sales experts you need to follow on Twitter. – Yeah. – We’re talking like you,
Seth Goden, heroes of mine. I mean, you know you are a legend. And check this out I just got a new book. I got the advanced copy,
it’s insanely great. Inc Magazine already quoted it yesterday as the four best books to
read before the end of summer. – Yes. – There are all these
incredible Growth IQ strategies. You know I’m all about growth mindset, helping you grow your business. Tiffani’s gonna help us do it today. The first chapter though,
you go right into something that is critical for the
real estate world right now. They are suffering from this lack of identity. There’s eight million real estate agents, everybody’s got nine
friends in the business. And how do we differentiate ourselves? And you go right into
this first growth path as, like the customer experience, which I think is one of
the great differentiators. So could you maybe just
speak to the audience on like what is sort of
the overarching message? And then let’s get into some granule stuff on what they can do. So what is this first growth
path, this customer experience? – Yeah I think it’s interesting right, because you have a product that you sell and many people don’t view
themselves as a product. – Yes.
– Right? But I believe that the greatest advocate and the greatest
sales force out there is your customers. – Yes. – Your past customer, – Yup, yes, yes, yes.
– Advocating on your behalf. So if you’re differentiated
and you give them this amazing experience what do they do? They go tell 10 of their friends. – Yes. – And, there’s lots of research out there that says people are 60%, 65%
through their buying journey before they ever pick up the phone and call someone like a Realtor. – 100%.
– So, having that advocacy
out in the marketplace, – Yes. – where it’s someone
else telling your story. You can’t pay for that kind of marketing. No mailer is gonna beat word of mouth. – We have talked, so they have heard me for at least the last 10 years saying, it used to be written
letters of testimonial. – Right, right.
– Right? Then we put those on our website. Now today between Zillow
and Google and other places, we call it, it’s like
the review based economy. We’re reading reviews to decide, do I like this agent or not? So do you have any insights on reviews, any more stats that
they need to know about? ‘Cause I’ve been (smacks
fist) pounding them on it. – Yeah, I would say this. I think it’s the subtle side of having people advocate on your behalf. You know if it’s too much in your face, then it doesn’t feel authentic. It has to be that kind
of natural conversation that someone’s having with
a friend or a colleague and they’re talking about, “Hey I’m thinking about moving.” And then they say, “I’ve been dealing with “this amazing Realtor.” It’s like, “Oh who are you working with?” That kind of just natural conversation is very–
– Yes, true word of mouth. – True word of mouth is very different than blasting out what
someone says about you. All right so there’s–
– Are you saying we shouldn’t be blasting it? – No, I think there’s
the subtle side of it, which has a lot of impact. – Yes. – Then there’s the very
prescriptive side of it, which is also necessary as
people go through that journey and they find you, they want to see what other people say about you, right?
– Absolutely. – So you need to have both. But I still think the greatest sales force for anybody who’s out selling something is their past customers advocating on their behalf full stop. – Agree 100%, 100%.
– Yup. – So let’s talk about
the customer experience. So I wrote down this
question like customers, you know inside the book you talked about they remember the experience
they had with a brand longer than they ever think
about the fee or the price. – Yes. – Right so, a lot of our clients watching this, they’re in marketplaces where the fee is now an issue. – Yes.
– Right? So how do we help them? Like what are two or
three things they can do upfront to create a
better quality experience so the fee becomes a no-brainer? – Yeah, so I love to use this example. So if we were in front
of people I’d be like, “Okay how many of you in the audience, – Do it yeah, yeah let’s go. – “rode an Uber 30 days ago?” You know pretty much everyone’s hands are gonna go up right?
– Yup. – And then I say, “Okay
leave your hands up. “How many of you remember
how much you spent “on that Uber ride?” Do you remember your last one? – Uh, – No, yeah.
– No, no, I’m thinking, no. – Right? So Clayton Christensen says in his book, Competing Against Luck, everything’s a job from point A to B. So I need a ride, a taxi ride, or I need to get from one
place to the next place. That’s the job I need done. So why do I pick an Uber over a taxi? – Yes. – Right, because the job still gets done. So for me it’s three things. One, I travel around
the world, I don’t have to carry currency. Or I don’t have to have money on me if I’m in the US.
– Yes, yup. – Okay, and I don’t have to worry about a credit card machine not working. – Yup. – The second one is,
that it directly connects into my expense report now. – Yes. – So it removes this other
stuff I’d have to take. And a lot of times when I catch a cab, it’s like I think it was
$6.00, and it was really $16. – Yeah.
– ‘Cause I don’t remember how much I spent.
– Do you need a receipt? – Yeah do you need a receipt? – Remember hearing that? Do you need a receipt? – And then fill it in yourself, you’re like, uh, – Throw it in the trash.
– somehow I’m always on the wrong side of that equation. And the third reason is
’cause I travel alone a lot. Someone will know where I was last. – Yes. – So those are the three reasons. Oh–
– Not so good for people like Jameson Winston, whatever the football player right now.
(Tiffani laughs) Sorry, personal note. (laughs) – But if you think about those two things the reason I chose one brand, – Yeah.
– over another was totally experienced based. – Yes. – And I have stood on a street corner, in the snow, when it’s freezing,
with my phone in my hand, watching taxis drive by, waiting for my Uber. – Yes. – During surge pricing. Which means I’m actually
willing to spend more. – Yes. – So customers have told
us in a lot of research. We’ve done in a lot of
research that’s out there, that they’ll actually spend a premium of up to almost 15%, – Yes. – for a better experience on a brand. – Yes. – Think hotel, think
home you’re gonna buy. – Yes. – One condo, over another condo, and one condo has a pool and a gym, and a concierge, and all of those things. That’s all experience based. – Yes.
– Because your apartment, right, it’s still the
place you live and sleep. The job is being done. The rest that the building has or the other amenities a home has, is the experience someone puts in it. And you know many people will say, “Careful how much money
you put in a house, “you might not get it out,” from an investment standpoint, right? Because the other person
might not appreciate that experience
– Yes. – the way you appreciate
that experience, right? – Yes. – But that’s all experienced based. So I think that when you start to realize that you, and what you deliver is also part of that experience, – Yes.
– it really changes the game. Really changes the game. – So think about it like this. So much of what, what our clients are dealing with today is this on demand environment, right? So last year, Amazon
put out a page one day and said like, “Thinking
about real estate, “looking for some real estate needs?” And people freaked. Because the fear, of not having my phone, of just being able to go, buy it, ship it here in 30 minutes. And many companies have
moved toward obviously that on demand experience, whether it’s buying direct, or buying online. And what agents are doing now is they’re finding themselves, how do I create the illusion that my experience is on demand? Any thoughts on that? – Well I think there’s a couple things. I think that we can not
be afraid of the fact that technology is changing the way we,
– Yes. – Market, and sell, and
buy, and act as consumers. – Yes. – You know every day in our
personal lives, we’re consumers. And you know, I would say, once again, how many of you have bought
on Amazon the last 30 days? Everyone raises their hand, right? – Yes. – And then I’ll say, “Well how many of you “went through the training
of how to buy on Amazon?” – Yes.
– And it’s a trick question, right? There was no training, because it’s super easy.
– It’s too easy. – Right?
– It’s too, yeah. – And so then you say, “Well
how am I going to compete “against whomever is
coming in the market?” – Yes. – Like that Amazon example you gave. I’ll just give an example from Australia that I learned some six years ago in the real estate industry where someone came up with a IOT
device on the real estate signs. So as you pulled up, if you had the app, it would recognize that you were sitting in front of the house,
– Yes. – and it would push you content. Right, and say here,
take a tour of the home. – Yes.
– This was six years ago. Right and then people are going, “Well no, well wait a minute. “Then I don’t need broker’s opens, “and I’m not gonna physically
show them the house.” Then I go, “Yes, but me as a consumer, “maybe I don’t want that experience.” I like sitting in front of a house and getting a feel for the neighborhood and actually having it all push. I can turn it down or not turn it down. – Yup.
– So we have to find a way to embrace what’s coming
at us no matter what. The harder you dig in your heels, the worse it’s going to be from you. But you don’t need to
say yes to everything. You know you have to
see what works for you and your teams.
– Yeah. – I’m not saying everyone
has to go put IOT on a sign. I remember a very dear friend of mine–
– Internet of things. – Yeah, internet of things.
– Internet of things. – Sorry.
– Yes, yes, yes. – A very dear friend of
ours was the very first to put pictures – Yes.
– on their real estate signs. – Yes, yes. – And by advertising at
the beginning of movies. – Yup! – And that was 15 years
ago, if not a little longer. – Yeah, yeah.
– And then everybody does it now, right? You just have to find
something that’s gonna really differentiate
you in the marketplace. – So one of my mentors,
Mike Vance, would talk about the experience economy in the context of, like run everything
through the five senses. Right, from the first
time they meet with you. Right, you think of like,
sight, taste, scent, all these different senses. Is there anything, and again,
going back to the book, do you have any insight on again, the experience, the time
that I meet that agent? What advice would you give to
have them really stand out? – Yeah, so this is one
that I find fascinating, I’ve been actually doing
some work in real estate over the last couple years now, since I’ve joined Salesforce. You know I would say
understanding who your existing customers are, who are they? Are they mostly families, are they mostly single, are
they mostly, what are they? Men, women, – What’s your avatar, right?
– couples, right. – Your perfect customer. – Who’s your perfect customer? And why did they choose you? – Yes. – And find out what that is. – Yeah.
– What they think. – Yes, their perception. – Their perception and
how do you take that and weave it into your marketing? – Yes. – Do you just want to just
sell anything to anyone? Or do you want to be really
good, and known for something? – Yes.
– You know condos in a particular area, or
homes, single family homes, or duplexes, or whatever it might be. – Communities. – Communities, whatever.
– Right as an example. – Dominate Corona del
Mar, or whatever it is. – Whatever it is.
– Beachfront stuff, yes. – You know owning something,
creating that beachfront and creating that reputation, right? That’s that flywheel effect
and that multiplier effect, right?
– Yeah. And so, I’d say a lot of
Realtors may not even know the answers to those questions. – Yes. – And so they’re not
capturing it in something. You know yes, where I work, we obviously can do that. – A lot of data.
– Right, you know A lot of data on the CRM side, from a Salesforce perspective, but I just want it captured somewhere. You have to capture it somewhere so that you get more intelligent with who you’re working with, and what’s going on,
because then you’re smarter about the decisions that you make. – And it could even be just a, you think about the power of CSAT today, like customer satisfaction surveys. – Yes. – “Hey we just engaged with each other, “you were on my website. “What did you think? “What did you like? “What did you not like?” But if you’re not today doing
a post transaction survey, using Survey Monkey,
something super simple. What are three things you
liked about the experience? What are three things that maybe, you wished we did different, or better? To get that feedback, cause
at the end of the day, it’s like sell people what they want in their model of the
world, and you’re gonna win. – Yeah.
– Is that kind of part of it? – Yeah, and I’d say
two sides to that coin. I’d say one, for sure,
ask customers who bought from you, why they bought from you. – Yes.
– But I would also go out, and reach out to
people who didn’t buy from you. – Yes. – Because then, what was it
that didn’t resonate with them? – Yes. – And is it something that you’re willing to fix, and pivot towards?
– Yes. – Or you going, “That’s okay, I’m glad “they didn’t buy from me.”
– Bingo. – And then move on, right? The one thing I’d say
around doing the survey is that we find different kinds
of results, and insights when you do it on your own
versus hiring a third party to do it on your behalf.
– Yes, yes. – If you’ve got the
funds, and the interest in really digging into what
makes you differentiated because I would tell you once you know what everyone else thinks of you, that’s where you have to win. – Yep. – And just ignore the rest of it– – Yes. – until you get that stuff really right. – Yes.
– Right? And so you also have the what
didn’t they like about you. Right, so maybe that’s something you need to lean away from, whatever it was. But people tend to say Survey Monkey as an example–
– Yeah. – of going out and surveying, right? You surveying, people may
not give you the truth. – True. – Right, and so having
a third party do it, and maybe not even online, but actually doing it over the phone. – Yep.
– You’ll get those insights. – And that can be your title
company, your escrow company, your lender–
– Yeah, everybody. – your brokerage on your behalf, just as long as it is not
just directly coming from you. – Yeah. – Like, “what did you like about me?” – Yeah. – “But please don’t tell
me what you didn’t like.” – The whole experience.
– That’s important. – But in the real estate
industry, just like in technology, the challenge is, is that we have a very long supply chain. – Yes.
– Right? You have a lot of touches
through the sales cycle in real estate.
– Yes. – Right, a mortgage, the title company, the realtor–
– Yep. – the inspector–
– Yep. – the contractors, I mean there is a lot of people touching a deal. And then the realtor
is in the middle of it, and so if one, or two of
those people go awry on you. Or give a terrible experience
that’s reflective on you. – Yes. – And so you have to figure out, how do you tighten that experience around that supply chain. Ya know, do you always work
for the same mortgage broker? Do you always work with
the same title company? Who do you recommend? Is everybody on the same page? And that has a lot to
do with communication, and collaboration.
– Yes. – Once again going back to
very difficult to scale, if you’re doing 25, 50,
75, a 100 deals a year to scale on an Excel
spreadsheet, and Post-it Notes. – Yeah.
– It’s just impossible. – Yeah. – So you need to start to take advantage of some of the tools online, whether it’s collaboration,
or CRM, or whatever. – Yes.
– To manage that team in a way that gives the customer, remember, the best experience they can have. – Okay, that’s the whole thing. So now I’m gonna switch gears just, – Yep.
– For a second, inside the book you talk about the guy that started Shake Shack, and – Danny Mar.
– Right. And gonna go brain dead
on him, Ray Kroc, right? – Right, McDonald’s. – He didn’t actually create McDonald’s, but he turned it into what–
– Yes. – we know it as. So both these guys talk about
the product being secondary. – Yes. – Right? And yet, the assumption is, like in real estate, is
the house the product? Is the agent the product? And which one is secondary? Give me sort of the
tie in for real estate. – Well that goes back to what I just said. Right?
– Yeah. – Danny Meyer is like, “Look,
I’m selling you a burger. – Yeah. – “Right across the
street is another burger– – Yep. – “from that other company.” Right?
– Yes. – “Or somebody else, why
would someone come in, “and buy my burger?”
– Yeah. – “And why would they
spend two dollars premium, ‘or three dollar premium for my burger?” – Yes.
– Right? So now in this case I
use a Starbucks example. – Yeah.
– Right? So if we were at an event, right, if we were standing at your event, you were giving free coffee outside which everybody does at events. – Sure. – And there was a Starbucks downstairs, I guarantee you there
would be a line downstairs. – Yes. – So someone is willing
to spend seven bucks– – Yep
– versus free. – Yes.
– Free, seven dollars. – Yes.
– Right? And what is it? Well because I get to
order my half-caf soy; this temperature, the
same way, or on my app, and I go back to the Uber example. – Yep.
– I can order online. – On demand, super easy.
– I don’t have to, I don’t have to carry the–
– Yeah. – Right, I can do all of those things, and Tesla has proven that
people will spend a lot of money online sight unseen. (laughing) – In seven minutes, and buy
your car. (finger tapping) – Yeah, and seven
minutes, and buy your car, and then on many, the New York real estate guys, you know, they absolutely push online. – Yes. – Right, all of the things
that they are doing. – And they tout how much they’re doing. – Yes. – Via Instagram, and Facebook– – Absolutely
– et cetera. – With sight unseen for
international buyers. – Yes. – I would go back to, it
goes back to the experience. – Yeah. – And even big companies
like Ford is now saying that they’re much more
interested in pivoting towards the experience inside the car– – Yes. – because they know that the
quality of their car is fine. – So now they’re pivoting to the inside. – Is there a charger for your iPhone? – Is there a place to put your iPad? – Bluetooth.
– Bluetooth. – How does it feel?
– This and that. Right?
– What does it smell like? Right, yes. So, it’s experience. What’s fascinating is
last year, Greg Schwartz, Chief Revenue Officer of Zillow, or now Chief Business
Officer of Zillow said “We are shifting everything towards “a better quality experience.” – Yep.
– Right. Unfortunately in the real estate space, when you look at the consumer
reports, and the feedback that the vast majority of agents get, they put them really
low on the list in terms of customer satisfaction, and yet many of the people that are watching this– – Use them. (laughing) – have 700 views on Zillow. You with me?
– Yeah, right. – Like this is the creme of the creme. – Right. – If there was one other thing that they could do to
differentiate themselves. What’s one, like, is it doing more videos, is it getting out in front
of them, and sharing more? What other advice would you give to just create that separation? – Yeah, so I’d say one thing,
and it comes down to this. Be where your customers are going to be, and greet them when they get there. – Yeah. – Sort of where the puck is going. – Yeah.
– Right. Now I don’t need you to be Steve Jobs, or Marc Benioff, or Jeff Besoz. I don’t need you to be
out years in advance. I need you to be out, like, a half a year, a year out, ahead of, right. – Yes. So thinking about what do you think someone is going to want next. I mean I remember when it was like, we’re gonna do, what about
virtual reality of seeing homes? – Yes. – So three years ago that’s
when no one was doing it. – Yes.
– Right. So, and if you believed in it, and go, well I’m just gonna try it. Because maybe there is a
specific kind of buyer, that this is what they want to do– – Yeah.
– and I’ll test it. – Yeah.
– Right. I’m not saying pour all of
your eggs into that basket. – But you need to ahead of where you think your
customers are gonna go. That goes back to then you need to know who your customers are. Are they tech savvy? If they’re not tech savvy, then that’s not where
you want to be investing. – Yeah. – It needs to be a face
to face relationship. – Yes, yes. – If they’re younger,
and they’re millennial, and this is their first home,
they may be more inclined to do virtual reality,
and do things online, and have a lot of that journey happen– – Yes – before they ever meet you. – Yep.
– Right. If it’s kind of your in-between, then what’s the balance of the two. – You gotta play them both. – But I go back to, ya know I feel like, Zillow is a great example. I remember initially it was
like “Whoaahh, this is.” Almost like the reaction of Amazon. – Yes, yes.
– Like this is gonna totally disrupt us.
– Yes. – Right, and it hasn’t.
– No. – It’s made realtors better, it’s made the customers more empowered. – Yep. It’s using technology
now; real-time, on-demand, in your hand, you can find out
information about anything. – Bingo. – So they’re smarter, which
means you have to make sure you stay ahead of them, because
if you show up to someone, and go, “Let me tell you
all about this house. “It’s three bedroom, it’s
two baths, 1500 square feet, “it’s all of these things.” And the customer is looking at you like, “I know all of this.” – “Like I got all of that.”
– ” I got all of that. “Tell me something I don’t know.” – Yes.
– Right? And so you have to up your game. – Yep. – You have got to be able
to provide information that your customers
cannot get on their own. – Bingo. – Making the assumption that
they’re already two-thirds through their journey before they ever pick up the phone to call you. Even if they’re a really
good friend, right? – So this is so great,
cause you just validated probably ten Tom Ferry episodes. – But now they’ll believe it
because they heard it from me. (Laughing) – Well, c’mon, look at her
all-star list of, you know. (laughing) So, kind of just tightening this up, I just wanna say really fast,
everything she is saying here, you’ve heard speed to
lead is a massive degree of separation, the
on-demand economy, right? Meeting your customer where they are, which really today is on
their iPhone, and quick. Right, some of these key
to distinctions we talked about for now 18 months,
many of you are adopting. I would challenge you, I
would really challenge you to get honest with
yourself, and say are we in the on-demand culture. The answer is yes. Right, are we in the review based society? 1000 percent. And if you haven’t move the needle towards these things, my friend, you’re just missing a
segment of the market that they’re going to find somebody else whether you do these things, or not. Right, so I just wanna, kind of talking to my viewers, reminding you. The head coach. And I give you an example. So let me just pick
millennials as an example. – Yes. – So millennials now are saying that they want to buy from brands– – Yes. – or people that actually
agree with their values. – Yes.
– Right? So are you socially conscious? Are you giving back?
– Yes. – Are you doing something
in the community? So if you’re going after
millennials, I’d say like what is your give-back strategy? – Yes. – And maybe that is your differentiator. – Bingo. – And the fact that you
sell homes, is sort of “yeah, I sell houses.” But what I’m doing is I’m trying
to clean up this community. – Yes.
– Right. And I’m doing everything I can, and a percentage of my
proceeds goes back towards– – Bingo.
– cleaning up the community. – Bingo. – And so now you’re really
speaking to millennials. – Yes.
– Now what’s the product? – Yeah.
– Right. – Who cares?
– The house? Who cares, right? They’re going to say,
“Hey, look, I like you “better than this guy, or girl– – Yep. – “Because this one is all about like “I’ll get you the best deal. “We’re gonna find you the best house. “And you’re like yeah, it’s
not totally about that. ” Like I wanna work with someone who– – Yes. “agrees with my values,
and my convictions.” Right?
– That’s a key distinction. – As a great example, right? Once again, you have to know who your customers are.
– Yep. – Who you’re going to go after. – What’s your value proposition? And then you need to be where they are, and then you need to have
a message that resonates. – And then integrate that beautifully into your marketing
message; into your brand; into the stories that you’re putting out in the market place,
because at the end of the day that’s the stuff that people remember. – Yeah, it’s noisy.
– Yes. – It’s noisy.
– Yes. – Ya know, there’s no
shortage of realtors. – No. No, no, no.
– That’s not a problem. – Hey, we only dug into one. I don’t know if we can
get a close-up on this. I am loving this, I highly recommend it. You need to go to Amazon,
or Barnes and Nobles. – Yeah, 800 CEO Reads,
Indie, Walmart, Target. It’s everywhere, yeah. – And this right here, Ink
Magazine, four best books to read before the end of summer, you’re gonna see her live at the summit, whether you’re with us live, or, certainly on live-cast as well. Tiffani, I really appreciate this. – Aw, it’s such a pleasure, Tom. – Yeah so excited ya.
– Thanks for having me in front of these great realtors, ya know. Help them fight the fight. – Get this book.
– Get this book. – Alright guys, remember
always, your strategy matters, and now more than ever your passion rules. Go get ’em. Hey I’m Tom Ferry, and I wanna
say welcome to real estate. Now, there’s a pretty good
chance no one’s told you there’s a 87% failure rate every five years in this business, and there is only two factors: agents don’t have the tools, and they don’t take the right action. I’m gonna invite you to
click the link below, and get access to the tools, so you can win in this business.