This past week Bob Dylan won the Nobel Prize in Literature, making him the first musician to ever win the award. I was not yet born when he started his journey from a controversial folk singer to a popular rock star, who plugged in an electric guitar at a folk music festival and in doing so went on to change the song writing process of popular music forever. I have to admit, I was also not old enough to remember the original releases of some of his famous songs that would blend poetry with music and lead to him receiving the Nobel Prize. However, as a music fan I have enjoyed his songs and the first concert my wife and I saw together (over 14 years ago) was a Bob Dylan performance. By that time his voice had faded, but the energy and passion had remained and the audience knew the words to all his hits.
I have read about the night Bob Dylan plugged in an electric guitar at the Newport Folk Music Festival and in doing so upset the purist of acoustic folk music fans, while at the same time elevating his career to superstardom. It was documented that some fans were booing him, thinking this type of innovation was not what was needed. Even at a music festival, people don’t like surprises or change. The strange thing is people do like good surprises, who doesn’t like it when they find twenty dollars in the laundry machine, and successful people will change. Bob Dylan was right when he wrote the song The Times They Are a Changin’ in 1964. The times are always changing.
The change he made introduced an entire new audience to his music and changed the direction of popular music. It was a bold move as he expanded his audience and he was rewarded in his career and financially with now over 100 million albums sold, a Nobel Prize, and the respect from artists of all genres. A move, that some thought was crazy, paid off by embracing the inevitable change that was occurring in consumer tastes.
I think of how many people I’ve met, and businesses I have seen, that have not changed. They have stuck with the status quo and do not reach their potential, reach a larger audience, or go in the same direction where their customers are heading. In the business world this is easy to point to, as 57% of the companies on the Fortune 500 list in 1995 are no longer on the list. Just think of Blockbuster and you can get a clear idea of how competition, when properly using technology, can displace an incumbent brand. Netflix changed the customer experience making it more user- friendly, and as a company they continue to change. They now added a streaming video service, which attacked their own original disruptive business model.
Take a look at your business and do an honest assessment of how you are keeping up with the demands of your current and future customers. In real estate, this means embracing technology to enhance relationships, working mobile to meet the customer where they want to do business, and promoting your agent brand effectively online so potential clients see you as the right choice to assist them with the largest financial decision they will make in their lives. How do you go electric in real estate to reach a larger audience? There is an entire new audience for you to reach who is digesting information in quick segments of video. In August 2016 alone, over 15.5 million videos were uploaded to Facebook generating over 236 billion views!
The real estate consumer’s behavior has permanently changed. Last year 60% of people searching for real estate didn’t just look at properties online, they actively googled real estate agents to learn more about the agent they were thinking of contacting. Those trends are not going to reverse, so plug into them by having your online profile positively positioned on all relevant websites and social media outlets. Give it a try to go electric by plugging into an entire new generation of home buyers by filming an introductory video of your services and making it available on your website and Facebook page. It will be a good surprise to the next generation of homeowners, who don’t see many agents communicating with them how they want to be communicated with.
As for the best of Bob Dylan, here are my top three:
- Like A Rolling Stone
- Lay Lady Lay
- Tangled Up in Blue
All the best, and I would love to hear about your success stories of implementing a video strategy into your businesses, and also, what are your favorite Bob Dylan songs? I am certain we will see and hear from both of these categories at the United Real Estate convention in Austin!