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Keyword: Marketing and Sales
As consumers' perceptions of brand messages evolve, advertisers respond by revisiting their messages and investing more heavily, with North American advertising spending projected to exceed $370 billion by 2024. In this context, brand name, logo, and slogan's semiotic components gain strategic importance in enhancing brand equity. This paper focuses on slogans and examines slogan-related factors that enhance alignment with brand identity.
Our research seeks to better understand consumer perceptions of sales pressure through the exploration of consumer entitlement, self-perception of high levels of product knowledge and persuasion knowledge, and awareness of sales persuasion tactics. Hopefully, this understanding will help firms prevent situations in which consumers feel pressured to buy and instead will create mutually beneficial sales exchanges.
Due to its prevalence, depression has been called the “common cold” of mental health. Depression has direct negative effects on employees such as increased deviant workplace behavior and decreased productivity, and this relationship extends to the salesperson role. We studied how certain personal resources—work adaptability and family work support—along with supervisor support can mitigate the consequences of depression on salesperson performance.
Competitive salespeople are driven to achieve their goals, which is associated with high sales performance. However, competition can also be a threat to cohesion as salespeople may become more focused on individual success than the success of the team. We examine the challenge sales managers face of creating a work environment that fosters both competitiveness and cohesion in order to improve both performance and sales force retention.
Salespeople often have a reputation for being competitive, and the prevailing view might be that having a competitive spirit is suitable and favorable in sales domains. However, research shows that not all people think about competition (or competitors) in the same way. In this paper, we examine how different competitive orientations affect salesperson behavior and performance in the workplace.
Syntax is the grammatical formulation of words in a sentence and is vital to the memorability and persuasiveness of marketing messages. In a recent Journal of Marketing study, Atalay et.al. hypothesized that using messaging with a medium level of unexpectedness in the syntax, or syntactic surprise, would be effective in marketing messages. We examine their findings and draw implications to your real estate business.
It is hard to overstate the importance of online reviews. In today’s world where most product experiences start and/or end online, the experiences of others are more visible and more important than ever. In this research, we discover the most effective time to ask customers for reviews following a product experience.
In a competitive marketplace, it seems clear that salespeople's performance can be influenced by those around them, but more often overlooked are the sources and specific manifestations of those influences. Our research aimed to address one factor of this phenomenon, namely personal identification with supervisors.
Technology has transformed the way businesses market products and services, making it essential for marketers to stay up to date with the latest trends in digital marketing. In Digital Marketers Sound Off, Matt Chiera interviews some of the most successful and innovative digital marketers in the industry, sharing their experiences and offering insights into the strategies that have led to success.
The intent behind advertising is never just to spend money, but to engage consumers. Our research links the use of negations—which advise what not to do through words such as like no, not, can’t, don’t—to increased consumer engagement. Our paper examines how the use of negations impact consumer engagement, while also considering negations’ effect on how powerful brands seem.
Having employees of various backgrounds and experience is vital to increasing access to markets, translating to a higher chance of marketplace success. Although industry has noticed the impact that a diverse workforce can have on an organization’s success, we studied whether consumers notice workforce diversity and whether diversity affects consumer response to the firm.
The ways in which gender affects negotiations and business interactions has been studied extensively and remains a topic of interest across various fields. Research has not, however, applied these ideas to the real estate industry, where the majority of agents are female. Our research aims to address this gap and answer how agent gender and interactions with agents of the same or different gender affect bargaining power in real estate transactions.
Part of an effective sales approach is to build trust with buyers; however, research suggests 70% of B2B salespeople overestimate customers’ trust in them. Our research aimed to evaluate the effects of salesperson trust overestimation on customer account revenue and word of mouth or the likelihood and quality of referrals.
Caffeine is a staple in Americans’ consumption habits, but some effects of caffeine consumption may influence the spending behavior of consumers. In this article, we explore how drinking caffeine before shopping affects retail purchasing behavior, and we draw conclusions as to how this can affect both buyers and sellers in real estate.
Consumers often believe that salespeople do not have consumers' best interests in mind and, thus, dread the idea of engaging in negotiations with a salesperson. In our research, we focus on the interpersonal relationship between the consumer and the salesperson and examine whether a favor request from a salesperson to the consumer will encourage engagement and the idea of negotiation.
Humor has been a popular marketing strategy throughout the years. In our research, we argue that if a brand wants to use humor, they benefit more from using clever humor versus merely being funny. When a brand uses clever humor, it is better able to connect with the audience, which can lead to more positive brand attitudes and greater brand engagement.
Salespeople are often indoctrinated to love what they sell, but too much enthusiasm from the salesperson may cause the customer to feel pressured and form a tendency to avoid the salesperson and the brand altogether. While brand attachment is important in terms of salesperson effort and performance, it may be equally off-putting for customers.
Emotional intelligence has historically been considered a key performance indicator, but our research finds that those with emotional calibration, or high emotional intelligence paired with high emotional self-efficacy (how one uses emotions), is a better indicator for sales success.
Word of mouth has become a pivotal factor in what shapes consumers' thoughts and actions. We break down two modes of communication and find that writing does not have the same effect as speaking. This research offers insight as to how and when to use each form of communication in order to maximize agent success.
Nearly all business exchanges are built around the practice of reciprocity—or exchanging things with others for mutual benefit—which paves the way for feelings of gratitude and indebtedness. This study specifically focuses on how the salesperson's feelings of gratitude and indebtedness impact seller-buyer relationship quality, relationship satisfaction, and customer word of mouth.
In consumer-based businesses, understanding how to effectively design marketing messages is key. Our research on power distance belief brings salespeople one step closer to understanding what is going on in the minds of different consumers which increases the power to persuade audiences through appeals tailored directly toward specific consumer mindsets.
The emergence of digital information platforms allowing consumer-to-consumer communications is changing how service ecosystems establish and create value for service innovations. The communications regarding these innovations have transitioned from pure "one-to-one" communication and engagement processes to "many-to-many" informational touchpoints. Our study assesses these information flows in service ecosystems and how they influence decision-making of digital innovations.
While there are an overwhelming number of resources available to help one build sales success, experienced salespeople with proven performance outcomes may be the most effective sources of inspiration. In Sales Secrets, Brandon Bornancin shares advice and perspectives from 104 accomplished sales professionals to help novice and experienced salespeople succeed in what can be a long-lasting and lucrative career.
Consumers make countless decisions every day. Some situations require minimal decision-making effort, while others require more thought and effort to reach a decision. Our research finds that there are two situations, driven by a motivation to achieve cognitive closure, in which people will put more effort into the decision-making process in order to simplify the process in the future.
Marketing is all about understanding customer preferences and providing solutions that match these preferences. However, marketers’ perceptions of their target customers’ preferences can be biased through the so-called false consensus effect, whereby marketers project their personal preferences onto customers.
Social media has become a core component of communication within our society, and as social media has positively impacted personal life, it has also positively impacted business. Our study focuses specifically on the relationship between social media usage, key selling tasks, salesperson performance, and peer social media usage as a relationship moderator.
While research suggests adaptive selling is a core ingredient of sales success, the question of how salespeople should alter their behavior in response to varying customer attributes has remained unclear. Our research and recommendations offer managerial insight to capitalize on the genuine benefits of adaptive selling to lead to greater success organization-wide.
Why do some houses sell above listing price while similar neighboring houses do not? Is it because sellers underprice their property? Are some real estate agents particularly skilled at bringing in high value buyers, or does it just come down to luck?
When highlighting exceptional performance of real estate agents, firms often credit the success to either sheer effort or natural talent. The way in which you market your agents, though, can impact their relationship formation with clients and, ultimately, the success of your firm.
Now more than ever, clients expect a uniquely tailored experience and product. This research aims to build upon already-utilized aspects of adaptive selling while increasing your understanding of adaptive selling and providing recommendations to further hone your own adaptive selling techniques.
In addition to winning over potential clients, engaging in value-based selling leads to increased customer retention, growth, and salesperson performance. This study examines the influence of different motivational sources — self, supervisor, customer, and team — to uncover how to motivate and benefit from implementing VBS in your organization.
Research confirms that 360-degree video ads increase social media click rates by 29% as compared to similar videos in standard format. Our research
identifies the optimal scenario and mechanisms in which 360-degree video ads outperform standard version videos, and we provide suggestions on how to create videos that will drive engagement in promising new ways.
At the onset of the COVID-19 pandemic, the world was faced with an unprecedented tremor that necessitated a transition to a virtual world, immediately altering sales as we knew it. In his latest book, Jeb Blount provides techniques that turn virtual communication platforms into powerful and effective sales tools, making virtual selling more human and helping organizations acquire a distinct competitive advantage that will extend beyond the lifetime of the COVID-19 pandemic.
The success of your business depends on how effectively salespeople can influence your clients. In real estate, it is vital to understand how salespeople influence customers and how they can improve those skills. Our research provides additional resources for salespeople to better understand the full set of sales influence tactics at their disposal.
Is it important for salespeople to like their managers? Research has established that people will do things for people they like, but does this have an impact on a firm’s sales performance? In this research, we examine several steps and practices that can increase your likeability as a manager, which can be a powerful driver of organizational sales performance.
Images are likely a key component to your social media strategy, but are you using the right images in the right manner? Our research quantifies the impact of image content and makes recommendations to help increase your client engagement on social media.
Reaching consumers on Facebook through organic or non-paid advertising has become a challenge. Our research finds a three-part social media viral framework to help you write more engaging posts to reach more buyers.
Referrals are an important source of new business for real estate agents, but our study shows that most businesses are not implementing referral incentive programs in the most effective manner.
How can you increase sales with no new software, gimmick, or miracle? Our research examines how psychological resourcefulness, characterized by optimism and resilience, will help salesperson performance and the bottom line.
The market for ambient scents is growing rapidly, and research reveals that pleasant ambient scents have a positive influence on consumers’ brand perceptions. We further examine how repeated subconsciously processed ambient scents enhance your potential homebuyers’ evaluation of their service experience.
Like all infinite games, in the game of life, the goal should never be to win, but instead to perpetuate the game. This article summarizes how to adopt the five essential practices necessary to adopt an infinite mindset in order to perpetuate the infinite game of business.
In their book Conversational Marketing, authors David Cancel and Dave Gerhardt share why online conversational marketing creates a better, more natural, and more profitable sales climate.
Do you use charisma to convey messages in a convincing manner to charm your clients? Our findings show that specific, learnable, and culturally appropriate displays of charismatic behavior can enhance client impressions and ultimately increase sales.
With the quick availability of online listings and resources, some buyers may feel they no longer need the specialized services of a real estate agent. Have you considered how the content and design of your web site might help you reclaim competitive advantage, while connecting with potential clients on a deeper level?
Although much research has been focused on a salesperson’s externally directed behavior, we found that political skill and intrinsic motivation have effects on adaptive selling and sales performance. In light of this evidence, we recommend that every sales manager assist his/her salespeople with developing these intrapreneurial abilities.
As a real estate agent, you're familiar with managing your own business. In this Insider article, we explore Cliff Lerner’s Explosive Growth strategies to help you grow your real estate business and stay ahead of the competition.
Your clients are more informed now than ever when making purchase decisions. Our research offers insights on applicable adaptive sales techniques based on the consumers’ perceived informedness about high-involvement purchases.
People understand ideas better when they are close and connected to a source of information. This research suggests using easy to handle media, appropriate detail, and physical distance may help captivate audiences and increase your outreach effectiveness.
Social media has become increasingly important in driving sales. Our research suggests that understanding who receives your outreach is just as necessary as what you post.
A critical success factor in the salesperson-customer relationship is cooperation. The purpose of this research is to analyze how salespeople’s actual cooperation efforts influence how customers perceive cooperation, and how customer-perceived cooperation influences relationship outcomes.