Joey Coleman Explains How You’ll Never Lose a Customer Again

We’ve made it to the end of 2018, and on this year’s final episode of The Property Management Show, we’re setting you up to take full advantage of the opportunities available in 2019. Think about the journey we’ve traveled over the last few years.

  • In 2017, we introduced property managers to the entire idea of sales and marketing and how it can impact and grow your property management business.
  • In 2018, we told you it’s time to think bigger. We started talking about revenue per customer and profitability.

What’s next for 2019?

You’re about to find out.

Today, we are joined by Jordan Muela, who is going to help Alex interview our guest, Joey Coleman. Joey holds the title of Chief Experience Composer. He’s also written an incredible book called Never Lose a Customer Again.

Introducing Joey Coleman

Joey has an eclectic background. He’s a recovering criminal defense lawyer, he’s worked in the intelligence community with the Secret Service, the CIA and the White House. He ran an ad agency for 15 years and he taught at a post-graduate level. The single thing that connects all these pursuits is that he’s a student of the human condition. He has sought to understand why humans do the things that they do, and he’s uncovered how we can persuade them to do the things we want them to do.

Currently, he’s helping companies keep their customers. He works as a consultant, workshop leader, and a keynote speaker. He encourages business owners to talk about what happens after the sale. A lot of companies focus on marketing and sales. They fill that funnel and they work hard to get owners and keep tenants, but they don’t spend a lot of time thinking about what happens after the sale.

How can you create an experience that keeps your customer coming back year after year?

That thinking process led to Joey’s First 100 Days methodology.

You should also know that Joey will deliver the keynote at the 2019 PM Grow Summit in April.

The Importance of Self-Assessment

One of the things that you’ll notice about Joey’s book is that at the end of every chapter, there’s a period to assess. You may breeze through the reading and quickly absorb the content, but you’ll need to stop and focus on some thought-provoking questions at the end of each chapter.

Here’s a self-assessment question that’s particularly appealing:

Do prospects receive a detailed and accurate preview of what the experience will be like after becoming a customer?

Stop and think about that.

This book of Joey’s is not short, and it’s meant to give you a unique perspective for approaching your customer experience. The questions allow you to process the chapter. Those speed bumps will intentionally slow you down and get you to think about how you’re applying what’s discussed to your own business.

The book shouldn’t only be something you read; it should be something you use.   

Customer Retention and the First 100 Days

Why do 20–70 percent of most customers stop doing business with a company within 100 days?

Retention is an issue for every business. Mentally, your customer will make the decision to check in or out of your relationship in those first 100 days. That’s the most important part of lifecycle. If you want someone to stay with you, how they feel on day 101 is more important than any other day in the process.

The customer journey includes eight phases. First, there’s the assessment phase. Your prospect is considering whether or not to do business with you. This is the marketing and sales part of the journey. It’s where you should be able to give your customers-to-be a preview of what it will be like to work with you. What will it feel like? Do you keep your word? Are you timely and organized?

The Emotional State of Your Prospect

As property managers, we tend to be tactical instead of emotional.

So, you may not be paying attention to tracking, identifying and working with the emotional state of your prospect.

Step into the shoes of the property owner you’re trying to reach. That owner spent a lot of money on this property. You’re suggesting that they give up some of the income they could earn by hiring you to perform services they believe they can perform themselves. They probably don’t think you could ever care for that property as well as they can.

Are you considering that emotional state when you deliver a sales pitch? Or, are you focused on the minutia of convincing them they’ll never have to answer a maintenance call or chase down late rent?

Shift your approach and start thinking emotionally. The owner is probably a little uncertain. They’re worried they’ll make the wrong choice. They’re anxious that you’ll put the wrong tenant into the property, and they dread the headaches and the expense of bouncing back from your bad decisions. They fear disaster.

How can you reach them on an emotional rather than a tactical level?

You can invite them to a property you already manage. Show the results of working with your company. Assure them that you want to visit their property and understand its nuances and needs. But, if they can see what your standard of excellence actually looks like, and they can see that you aren’t just talking about efficiency and effectiveness, you’ll have incredible results.

This shows your potential customer what it’s like to work with you. You’ll get the attention of those great owners who you’d love to have as clients. 

You can hand over brochures and direct prospects to websites and get on a call to tell them how great you are at solving their problems. But, there’s nothing exciting or emotional about those tactical things.

They want to have an emotional experience. 

Empathy and Emotion: The Winners in 2019

The American culture is one in which people are afraid to be vulnerable. Americans are taught that it’s weak. It starts happening when we are children and then it’s reinforced through schools and even in the workplace. How many times do you hear that “it’s not personal, it’s business.”

This construct results in humans who are desperate for connection. Everyone feels isolated after looking at electronic boxes every day. So, human interaction can catch you off guard. Distance feels safe. Emails and text messages provide a safe time and space barrier.

The winners in the next decade have high Emotional Intelligence (EQ). They will lead from a place of empathy. To have whatever you want, you need to be an expert in empathy. You need a high emotional quotient that allows you to empathize with owners and with tenants.

What are they feeling? What are their emotions? What’s working, and what isn’t?

This is a lot of work. But, investing in emotional intelligence pays off more than an investment in book intelligence. So lean in and get comfortable with it. To succeed in the future, you need to make this investment.

Property Management’s Problem is Its Opportunity

You’ve heard this stat before. Only about 30 or 35 percent of properties are professionally managed. The vast majority of investment real estate is self-managed.

There needs to be a great migration of those properties into the competent hands of empathetic property managers.

The 70 percent of owners who are managing on their own have a lot of emotion. They are probably anxious about how much it would cost. They might not think the property manager would understand the investment. Buying a first rental property is a big leap. It’s a huge shift, and those owners don’t want to make the wrong move. So, they manage on their own without any training or education.

Tony Robbins says that people don’t change until the pain of not changing is greater than the pain of changing. Change causes pain, but you have to shift if you want to find the catalyst necessary to make the changes that matter. 

Defining Professionalism in Property Management

There are some unique dynamics of working in a market with a wide variance of quality. The main challenge for professional property managers is that there really isn’t a consistent definition of what professional means.

Many people call themselves professional property managers, and they’re anything but professional. They’re not very good at the managing part, either. Many people have experience with unprofessional property managers. Everyone has had an experience renting a property that was “professionally managed,” and it was a nightmare. So, the outstanding property managers who are truly professional are meeting potential clients who come with baggage and preconceived notions. This is infuriating. Your customers don’t come to your door as blank slates. All of their bad experiences are there with them, and they’re expecting you to add to those bad experiences. 

Those potential customers are skeptical. They doubt what you say. And then, they run into property managers who affirm those beliefs. They come off as slick or not listening. Or, they launch a pre-canned sales pitch.

This doesn’t work.

Initial Engagement and the Depth of Discovery

You know by now that a discovery process is important. If you fail at discovery during the sales process, it’s probably because you’re doing a few things wrong.

  • You’re approaching it with a script. The person you’re talking to will know it’s a script because it feels like a script. They’re falling into a template, and they can sense it.
  • You’re checking off boxes as you talk and listen. Maybe you’re asking a question but not really listening to the answer. You simply move to the next question.

This is not professionalism. This is not attention to detail.

Be better at empathy.

Stop talking and start listening.

When it comes to discovery, you should have a plan of topics to cover. But, don’t have a script or a checklist. 

This Is the Future

Now you know how 2019 is going to work. If you build out the best customer experience and you have empathy, you will help the property management industry realize what it’s capable of achieving.

Marcus Sheridan moved the whole industry after his keynote at PM Grow Summit in 2017. Joey is now going to move us forward even further, and you don’t want to miss his keynote at PM Grow Summit 2019.

PM Grow is for the people who want to provide great service. If you offer low quality services and you’re okay with getting something over on your clients now and then, and you’re focused on slathering sales and marketing on top of a low quality operation – WE ARE NOT GOING TO BE ABLE TO HELP YOU.

The clients of our clients win when people raise the bar and increase the quality of their service. We want to raise outcomes for the whole industry.

You can buy Joey’s book anywhere books are sold. Consider getting the print copy so you have instant access to all those great self-assessment questions in written form. You can actually answer them right there in the book.

Visit joeycoleman.com, where you can watch videos and gain some insight on enhancing customer experience.

Finally? Put this into practice. If you have a positive customer experience somewhere, tell them and thank them. It’s easy to call out negative customer experiences, but go ahead and start shouting about the positive experiences. 

Happy New Year to our listeners – it’s a privilege to provide The Property Management Show, and a joy to learn with you.

Alex Osenenko

About Alex Osenenko

Alex’s professional mission in life is to help small businesses grow and thrive. Alex is the President and CEO of Fourandhalf.com and a Co-Founder of the PM Grow, Inc. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex's deep commitment to entrepreneurship and improving the lives of small business owners everywhere empower him to host “The Property Management Show” bi-weekly Podcast and speak internationally on the subjects of Growth, Marketing, Sales, and Entrepreneurship.

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Alex Osenenko
President and CEO

Alex’s professional mission in life is to help small businesses grow and thrive. He is the President and CEO of Fourandhalf.com and is serving his 5th year on the Board of Directors for CALNARPM.

After spending 9 years in the trenches with his property management clients, Alex draws on his experience to host “The Property Management Show” Podcast and co-authors a weekly Property Management Blog on Fourandhalf.com. Alex has extensive experience speaking for various NARPM events at the local, state, regional and national level.

Alex is a graduate of San Francisco State University with an Electronic Commerce Systems Degree. His business philosophy is simple: Happy Customers are created by Happy Employees, which results in Happy Shareholders. Alex serves on the Board of Directors of CALNARPM (California Chapter of National Association of Residential Property Managers) and hosts a Podcast “The Property Management Show“, available on iTunes.

 

John Bykowski
Chief Operating Officer

After graduating from the University of Michigan with a film degree, John proceeded to do everything but. During his career, John has specialized in operations and has developed processes for small companies in diverse industries, such as bleeding-edge marketing technology, social networking, trade shows and exhibitions, and cloud software. John and Alex had worked together previously, and when he needed someone to help take Fourandhalf to the next level and beyond, Alex brought in John as his first employee, and later, business partner.

In addition, now that he’s using his film school know-how to help property managers look their best in their blogs, his mom no longer feels his degree was a complete waste of time.

Danny Morris
Director of Account Management

Born in Australia and growing up in Israel, Danny has spent a lot of time traveling the world between those two places. After completing his military service in Israel, Danny began following his biggest passion, writing, which he discovered while backpacking South America and publishing his first book.

When it was time to unpack, he returned to Australia to complete his Journalism studies amongst the beaches of sunny Perth. Danny is a huge online fan and after working in a number of related jobs, he finally gets to combine his two favorite things, working with media and people.

Marina Osenenko
Product Manager

Marina draws upon her real estate, business operations and customer service expertise for Fourandhalf. Her favorite part of being with Fourandhalf is the opportunity she has to really get to know our clients, build professional customer relationships and truly be part of a team that assists in their success.

Her time away from work is happily spent watching her children grow up and attempting to keep up with them! Any spare moments beyond nurturing her children are filled with hiking, spending time with friends, exploring the Bay Area and squeezing in a non G-rated movie every now and then.

Marie Liamzon
Product and Marketing Manager

Before joining Fourandhalf, Marie worked for one of the largest banks in the world. She took on different roles, but couldn’t find what she was looking for. She pursued a variety of side projects until she finally decided it was time for a career change.

Marie is very passionate about helping people and learning new things. In her spare time, you might catch her exploring new places and taking far too many pictures.

Kyle McLean
Customer Success

Born in San Diego County, Kyle McLean has since migrated to the Oakland woods. A fan of tall trees and tall tales, he holds a bachelor’s degree from the creative writing program at the University of California, Riverside and is a licensed California Certified Shorthand Reporter.

After a few years as a freelance court reporter, Kyle has joined Fourandhalf for an opportunity in sales and digital marketing. In addition to reading and writing, his hobbies and interests include gardening, hiking, soccer, coffee brewing, and craft beers.

Karen Wyle
Account Management

Originally from the Philadelphia area, Karen moved eight times in seventeen years all over the East Coast and to the Midwest before settling here in Northern California six years ago. She is an alumna of Brandeis University with a BA in American Studies and earned a MBA in Marketing Management from Indiana University in Bloomington. Karen’s business career has been well-rounded, with experience including advertising, direct marketing, corporate retail, product management, new product development, and new customer generation. Beyond an office setting, she has been thrilled to volunteer her time giving back to the community with KPMG’s Family for Literacy, at her daughter’s school, and as a Girl Scout Troop Leader. Karen enjoys music, good food, traveling to new places, completing jigsaw puzzles, meeting people and making connections.

Karen became a part of Fourandhalf’s Account Management team in 2016, relaunching her marketing management career after a pause to raise her family. She is excited to rejoin the business world and to work with such a strong marketing management team.

Paige DeRuyter
Account Management

Paige graduated from Chico State University with a degree in Journalism. Her favorite part of working at Fourandhalf is helping clients create and produce educational blog content to grow their business. She is an avid sushi enthusiast who enjoys riding her bike and watching college football and in her free time.

Nissim Boozaglo
Web Hosting Support

After working as a Radioshack store manager, Nissim decided to change his career path and pursue his passion for music production by getting his B.A.S. from Expression College for the Digital Arts. Nissim has a beautiful 8-year-old girl and loves cooking delicious homemade food and going camping with her! At Fourandhalf, Nissim is responsible for the implementation of the clients’ Landing Pages and Google Adwords campaigns.

Theresa Barnes
Campaign Director

Theresa Barnes was born and raised in the Bay Area and graduated with her Bachelors Degree in Communications Studies at San Francisco State University. She worked in aviation at a private FBO for 3 years, and other industries, before joining the Fourandhalf team. She finds a balance between being a young mother, work, and living a healthy lifestyle outside of work by staying as active as possible. She is dedicated to customer satisfaction and having a great work ethic.

Brittany Stephens
Campaign Director

Brittany recently moved to the Bay area after graduating from California State University Chico with a degree in Business Marketing. She is known for her excellent communication, customer service skills, and shameless nerdyness. Her passions include: music, tabasco, Lord of the Rings, and the Golden State Warriors.

Logan Jones
Business Development

After graduating from CSU Chico with a Degree in Business Marketing, Logan moved back to the East Bay and pursued a career in sales. With an attention to detail and a relentless drive, he strives to improve himself and his passions each day. When not at work Logan enjoys playing guitar and writing songs, and occasionally performing around the Bay Area. He is an avid sports fan keeping up with everything SF Giants, 49ers, Cal Bears, and Golden State Warriors.

Hope Lumbley
Account Management

Hope recently moved to the Bay Area after graduating from Chico State University with a degree in Journalism. She is coffee crazed, dog obsessed and hopes to visit all National Parks. One of the greatest times in her life was when she lived abroad in Costa Rica and hopes to travel more of Central America in the future. She feels blessed to work for a company who supports her love for travel and the need to learn more about what the world has to offer.

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