5 Lessons from Silicon Valley to Modernize and Monetize Your Business
Silicon Valley may be the region for disruptors, tech entrepreneurs, and futurists, but even the most forward-thinking, abstract companies are still businesses that have to keep tabs on their bottom line. There’s much to learn from America’s fastest-growing sector, and even if Silicon Valley seems like a world unto its own, there are key lessons prime for adaptation in your own endeavors. Below, consider a few ways to translate the trends and teachings of Silicon Valley for your own business, and reap the rewards in the process.
- Diversify your value.
Real estate is a business built on relationships, but your relationships will go stale if the only thing you communicate is you interest in making a sale. In order to sustain relationships for the long term, you’ve got to remain valuable to your clients beyond the transaction. Serve as a local resource, not just a salesperson or real estate expert. Ensure your marketing materials, social media presence, and communications offer useful, relevant, and original content your clients will benefit from. What’s more, vary your communications so that every time you reach out it’s not just about new business or a referral.
- Company culture matters.
Silicon Valley tech giants always emphasize the importance of company culture—not just as a way of drawing and retaining talent, but also as a way to appeal to clientele. What are your company’s values? What do you stand for? How you’re positioned in the marketplace is becoming just as important as what you do and how well you do it. Your company culture is part of your branding, and your brand should feel clear and composed to clients eyeing your services.
- Think big picture.
More and more, clients want to have an experience, not just a transaction. When it comes to buying a home, this means they care more about a property’s bedroom and bathroom count. As an agent, consider showcasing properties in terms of lifestyle. What neighborhood amenities are nearby? What opportunities are there for community involvement? How does public transportation stack up in the area? Before making the purchase of a lifetime, clients want to envision a complete lifestyle.
- Leverage multiple platforms.
By now, you probably recognize that social media is not afterthought. Your social media presence should fit your brand and voice, interact across platforms, and actively engage with your audience. In other words, if you want to reap the benefits of social media, it’s not enough to post a few times a month and walk away. Active engagement means responding to comments, interacting with your followers’ profiles, and posting original content beyond a sales pitch. Likewise, you’ll want to be active across multiple social media platforms and ensure that your profiles are interconnected. That way, you’ll be working from a unified voice and brand.
- Reputations rule the roost.
Never underestimate the power of word-of-mouth marketing and testimonials. If you haven’t asked for feedback from past clients, and you aren’t sharing positive testimonials and reviews—you’re missing out on one of the most powerful tools at an agent’s disposal. You can pitch the virtues of your working style all day long, but those courting your business want to hear about positive experiences from the client’s perspective.
If you want to take your business to the next level and maximize the twenty-first century values of a company on the rise, look to the lessons of Silicon Valley to get your start. There are always opportunities to innovate, and doing so will help you break from your routine and stand apart from the pack.