and competitive leaderboards. A tenant
in your portfolio could easily be part of a
loyalty program with a Sky-Miles-like suite
of benefits. A visitor to a property data-base could be on-boarded effectively with
“advance to the next level” promotions and
contests. Charles “Chuck” Coonradt, who
wrote some of the seminal books on the
subject including Scorekeeping for Success
and Game of Work, went a long way towards showing that “a well-constructed
game framework simplifies our working
lives so we can focus on getting great results.” Gaming increases engagement for
everyone, but especially for the Millennials.
Rule #4: Data Driving
We have moved from microprocessors to
sensors. Our world of logging into a computer was long ago replaced by today’s
wearable technology, vast data sets, and
powerful algorithms. We’re used to carrying multiple devices that check our heart
rate, count calories, control thermostats
and lighting and pay our bills. Today’s
generation is tuned to know metrics in real
time, and we’d be smart to jump on board.
We need to embrace systems that provide
data about our customer base and their
behaviors. Millennials want us to know
how they spend their workdays (great for
an architect or property manager); what
parts of the deal process produce the most
conflict (info we could capture through
quantitative research delivered through
social media or even a text campaign); and
even what just-in-time info would be of
most value to brokers as they drive around
scouting properties (info we could capture
with the aid of GPS technology). This is the
21st century version of purchase histories,
qualitative and quantitative survey data
(like Yelp reviews) and browsing activity.
Rule #5: Embrace Diversity
Accept it -- your future colleagues won’t
be anything like you. For one, they are
less likely to be married: According to Pew
Research, “just 26 percent of Millennials
are married. When they were the age that
Millennials are now, 36 percent of Gen
Xers, 48 percent of Baby Boomers and
65 percent of the members of the Silent
Generation were already married.” They
also may not belong to a political party or
a church. Half of Millennials now describe
themselves as political independents
and 29 percent are not affiliated with any
religion. And, Millennials are the most
racially diverse generation in American
history. Almost half are non-white, the
highest share of any generation, driven
largely by Hispanic and Asian immigration.
So, what are the implications of that? To accept this new, multicultural world as one of
possibility rather than constraints. It may
mean being able to connect with working
professionals and potential clients in other
communities and even countries. It may
inspire you to join an ethnic business alliance or to explore a new market (one of my
colleagues has been an early mover into
Cuba). I like the idea, because it’s too easy
now to categorize by religion or country of
origin. As diversity grows, the fact we are
all equally different – and not equally alike
– will be the glue that bring us together.
The year 2025 is a mere 10 years away, so
our industry needs to begin its conversion
now if we want to be fully unpacked when
the wave arrives. While the new way of doing business will organically appeal to the
millennial generation, I think it will also resonate with older folks. Valuing competency,
thought leadership, purpose, mission and
equality are truly noble pursuits.
AL
MARINO
WE PROUDLY HAVE THE
MOST SIORs
IN IDAHO.
MICHAEL
BALLANTYNE
MIKE
KELLER
DAN
MINNAERT
OLIVER
CHRIS
PEARSON
MIKE
GREENE
PATRICK
SHALZ
208-378-4600 • tokcommercial.com
For the past 25 years, our Idaho-based firm has built a team that
boasts the most accomplished
professionals in the business.
You can rest assured that we’re
ready to tackle your goals.
CONTACT US TO
EXPERIENCE RESULTS.
MEET BOISE’S
HOME
TEAM.
DEVIN
PIERCE