MRED Blog

REinventing MLS . . .

Monthly Archives: January 2012

Experienced Leadership for Midwest Real Estate Data (MRED) in 2012

We’re very excited about our new leadership, in place for 2012.  Click HERE to read all about it in our latest Press Release.

At the Forefront of Real Estate Data Service Innovations

MRED CEO Russ Bergeron talks real estate in the business section of the Naperville Magazine

MRED and Caring

BY: Jeff Lasky, MRED Director of Communications and Training

OK, maybe I don’t say it as well as somebody like Seth Godin, so I’ll leave it to him.

Caring is a competitive advantage.  This applies to your real estate business every bit as much as it does to our business here at MRED.

Click HERE to read one of Seth Godin’s best Blogs IMO.  It also happens to express exactly the approach and attitude of MRED staff and leadership.

 Does it express yours?

MRED and You – Preparing for 2012 and Beyond

Click HERE to see our CEO’s latest article in CAR’s magazine.

Millennials more difficult to reach, but respond well to creative ads

By: Lani Rosales /AGBeat

 

Advertising to Millennials

For years, we’ve written about marketing to Millennials not only because several of us are actually in the Millennial/Generation Y category, but because it is a highly misunderstood generation. Only 20 percent of people 30 and under are married, and Millennials are the least employed of any age demographic. Most reports or opinion pieces we come across are a joke, as they misinterpret data or assert assumptions on to the generation that are completely false.

Today, comScore has released highlights from their upcoming report on advertising to Millennials and we are enthusiastic that their findings are spot on. They define the generation as having a high comfort-level with new technologies and cultural diversity, as well as being accustomed to on-demand access to entertainment, continual stimulation and extreme multitasking.

The report notes that television ads work substantially less effectively on Millennials than on older generations, but were able to retain a much longer lasting impression of a television advertisement. The 30 and under crowd will most likely remember an advertisement, but it does not necessarily convert to a sale. Interestingly, television ads (that are not forwarded through) are 30 seconds, which is a short time to devote attention, and Millennials as digital natives are used to processing millions of rapid packets of information, thus retention is higher and reception is lower. Predictably, digital advertising performs better than television on Millennials.

The comScore reports that Millennials tend to be less interested and more difficult to connect with, capture attention, impress, convince and entertain. This is an assertion we made years ago and were scoffed at – it is nice to see data to back up the idea that attention spans are short and because of growing up around constant advertising, our generation is difficult to impress and on top of everything, Millennials are price conscious.

How to reach Millennials

For all generations, but especially Millennials, comScore notes “the presence of key creative elements in advertising were shown to relate strongly to successful advertising.”

The good news is that when a Millennial chooses to engage with television or digital content, engagement has been shown to amplify the effectiveness of advertising, so comScore says that when targeting Millennials, it is important to utilize engaging content to help boost returns from investments in advertising.

Millennials are natural researchers, are thoughtful and when they chose to move beyond an observer and become a lead, they engage more highly than any other generation and opine publicly (positive and negative) than others. If you can win over a Millennial and have their contact information, you’ve moved beyond what many advertisers (particularly your competition) have been able to do.

What learning style works for you?

BY:  Ed Leighton, MRED Help Desk Analyst

People at the gym are a little baffled by my ability to hold a book and read it while working out on the elliptical machine.  How is it that I can maintain a steady enough hand to read while bouncing to the rhythmic pace of the machine?  And, since they are available, why not use audio books instead?

Part of the answer has to do with what I read.  I don’t just read for distraction, I read to learn.  Mostly I read history, but will occasionally slip in a user manual or two to brush up on products I support as a member of the Help Desk team at MRED.  The other part of the answer has to do with my preferred learning style being visual.  Just as my visual learning style baffles auditory learners, the reverse is true for me of them.  How can they possibly absorb the material by listening to it?  In my experience most of what I hear goes right out the other ear.  Not always, exclusively, but if comprehension is important I know better than to rely on auditory learning alone.

After reading a manual I usually get online and begin to reinforce what I read by engaging in kinesthetic learning: hands on.  I have deduced that the thousands of Help Desk calls I do not receive are from kinesthetic/tactile learners.  Their preferred method of learning is doing.  They don’t want to be shown what to do, or “waste time” reading about it, or be told what to do, they insist on doing it!

Following is a brief explanation of the three commonly recognized main learning styles obtained from Regis University’s web site:

  • Visual = Visual learners learn through seeing. With their primary perceptual preference being visual, they can typically recall what they have read or observed. They prefer to look at illustrations, or watch others doing something, rather than listening only.
  • Auditory = Auditory learners prefer to listen. They are usually able to memorize what they hear and tend to be very attentive when information is presented in this way. They search for meaning and interpretation in lectures or speeches by listening to tone of voice, pitch, speech, and other special signals. These learners need to be told what to do rather than having them read directions. (Brookhaven, 2011)
  • Kinesthetic/Tactile = Kinesthetic learners need to write things down. They like to incorporate their fine motor skills. They are the learners that like to take notes as they listen, and keep their hands busy. Kinesthetic learners need to use their bodies in the learning process. They need to do, not just watch or listen, to gain understanding.

In recognition of these learning styles MRED has developed a variety of learning tools to meet each of these preferred learning styles: Hands on classes, Webinars, Videos and User Manuals.  We assume the kinesthetic learners have not read this far, so if you meet them, tell them about this article.