08 Dec Give Yourself a Powerful Edge with a Generational Strategy
In our previous article, we touched on the work of generational expert Chuck Underwood. Underwood joined us for a webinar entitled “Generational Strategies for Engagement.” Click here to access this webinar. For over the last 25+ years, Underwood has been researching and consulting on the difference between America’s generations. Today, there are more generations alive than in any previous time in U.S. history. This fact serves to underscore the importance of developing, and consistently implementing, a generational strategy.
If you allow it, a generational strategy can guide much of what you do. Underwood believes that everything has generational components, ranging from how information is presented and speaking styles to how you follow up with buyers and sellers. People are shaped by their respective generations. Understanding this fact can make your interactions with clients more successful and streamlined.
It is important to note that generational differences are not trivial. Instead, they are core to business interactions across the board. For example, Underwood points out that individuals from Generation X will expect you to come prepared to meetings. This generation doesn’t want you to “wing it,” and they want you to get right to the point regarding key information. Their formative years were spent during a time where institutional trust was severely eroded. They want to deal with “straight shooters” that can be trusted and bring actionable knowledge to the table. You can expect Generation X to check your numbers, twice.
Underwood brings up points about the Boomers that would be easy to ignore. This factor serves to underscore the value of have a generational strategy. One size does not fit all with clients, and adapting to the generation of your client is a key component in success.
For example, business brokers and M&A advisors need to keep in mind that Boomers, now in their mid-fifties to mid-seventies, may have eyesight and hearing problems. This does have ramifications for how you will want to work with these clients. When presenting information to Boomers, opt for big text and easy to read presentations. In short, don’t get fancy.
Every generation has its own optimal presentation strategy. For example, Generation X, which Underwood refers to as “58 million armies of one,” want your presentations to get right to the point, as they typically feel pressed for time. Additionally, since Generation X is the “MTV Generation,” visuals should attention grabbing and incorporate moving graphics.
The stark contrast in the presentational differences between Boomers and Generation X serves to emphasize the great importance of developing a generational strategy. The simple fact is that the generation of your clients isn’t a “secondary concern.” Instead, it should be considered first and foremost. This should be a leading factor in how you organize your approach to every client.
Individuals in the brokerage industry are looking for an edge and better ways to interact with their clients. Developing a generational strategy can give you just that edge.