In my previous post I reviewed the six principles of ethical influence as defined by Dr. Robert Cialdini. I also recommended that you outline your customer’s interaction with your brand and figure out how to apply one or more of those principles to each step. Finally, I promised examples to help you begin to do this yourself. Since many of us just experienced the wonder of Black Friday where people line up for hours - I thought it fitting to start with scarcity.
Examples of Scarcity
Old school sales people used to use this rule of influence by simply withholding information. They served as a gatekeeper and if you wanted information, you were going to have to sit through their entire sales pitch. If you’re still operating this way beware… the internet long ago broke your ability to withhold pricing, brochures, etc. Time to find some new information that is truly scarce – and then have a strategy for releasing it to benefit you.
What is still legitimately scarce even in today’s real estate world? The one of a kind combination of home and home site. Home site 213 is NOT the same as home site 214 or 212. There will never be another Pinehurst built on home site 72 with the trees in the backyard, etc…
What knowledge is scarce and highly desired by people searching for a new home? Intimate knowledge of development schedules (clearing, paving, grading, etc) for new communities and phases as well as the product mix, final grading, and planned amenities can be used to your benefit. This doesn’t come across the same as withholding brochures – because it’s understandable to the prospect that the sales manager may not yet have all of these details because after all it doesn’t fully exist yet.
You get to determine how this scarce information is initially released to the public. Put up a sign or add the information to your website and word travels fast about this new approaching opportunity and the calls start pouring in. Good builders will create a database of interested parties and appointments are scheduled to dole out this valuable information or drip campaigns keep everyone updated on the progress of development. You can easily get a list of 50 to 500 names on your database, and undoubtedly you’ll sell some homes. Great builders will combine the power of scarcity with the power of consensus – and double or triple their sales rate. You’ll find out how next.