Tag Archives: benchmark study

Video Mystery Shopping: Benchmark 2015 The Results are in!

 

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From January to December 2015, Melinda Brody & Company gathered scorecards from more than 1000 video shops representing 36 different builders / divisions from across the country. We then compared 6 key questions. The graph above shows the percentage of new home sales associates that discussed the Builder, Demonstrated the Model, Demonstrated the Home Site and or Gained Agreement of Home Site, Asked for the Sale, Registered their prospect and Followed Up with the prospect.

These are the national results of our 2015 Benchmark Study. So, what does it mean? Well, let’s talk about the good, the bad, and the ugly!

The Good – Sales associates are registering their clients! A whopping 95% of them are doing this! Yeah! Also, the model demonstration has improved! 93% of the sales associates successfully completed this portion of the shop!

The Bad – Scores dropped this year in the Builder story, home site demo, and follow up. This tells me that these are areas that require additional training with your sales teams. I was shocked that the builder’s story dropped 15 %! This is a critical part of the sales presentation. It is also a part that the builder needs to be involved in providing. What’s YOUR USP (Unique Selling Proposition)? What sets you apart from the pack? Important questions

The Ugly – Our sales associates are still NOT closing. The score dropped to 47% in 2015. That means that 53% are not closing! This is particularly upsetting because the shoppers we send into your sales offices are READY, WILLING, and ABLE buyers. In the 30 years I have conducted video mystery shops, closing has ALWAYS ranked dead last. This year is no exception. This is an area that really needs to be focused on in your training and sales meetings. How do you ‘earn the right’ to ask for the sale?

If you need assistance in conducting training programs that can help your sales team in these areas, give us a call. We provide personalized and customized sales training for your team.
Want to learn more? Click here to view a short video.

Video Mystery Shopping: The Results are in for Benchmark 2014!

Each year Melinda Brody and Company compiles a detailed report for all of our New Homebuilding clients that show each builder where they rank nationwide among other builders in several key areas of the new home sales presentation. Well, the results for Melinda Brody and Company’s 2014 Benchmark Survey are in!
This much anticipated survey tracks the results of all of the video mystery shops we have done throughout the year. In 2014, we conducted over 900 video shops for 44 builder divisions! Whew, that’s a lot of video mystery shopping! The Benchmark Study allows us to analyze and see the ‘trends’ that are taking place in the home building industry. It gives our clients an opportunity to see where they rank against other builders, the areas where they are doing extremely well, and the areas where improvement is possible. It also allows us to put our finger on the pulse of what is going on nationwide in the homebuilding industry. Builders’ sales teams are rated in the areas of registration, model and home site demonstration, the builder’s story, closing, and follow up.
So, what did we learn? Sadly, most of the scores went down in each category, with the exception of the Builder’s story and Closing. The biggest drop was in the Follow Up category. Only 65% of our new home sales associates are following up with their clients. This is a huge missed opportunity. You’ve got to have a follow up system in place. There really is no excuse for this. I recommend that sales managers focus on helping your sales associates put a systems in place to make follow up a natural part of the sales presentation.

The one category that always ranks dead last in the survey is closing. While the overall score did increase by 1%, an effort to close the buyer was only attempted in 54% of ALL the video mystery shops. Plain and simple folks, you can’t make the sale if you don’t close the buyer….and you can’t close the buyer if you don’t ask for the sale.