S2E3: The Real Estate Roundtable Reconvenes

The sales department plays a crucial role in any organization’s success.
As technology advances, it is vital to understand the trends in sales, including AI. Its widespread adoption has transformed almost every sector, and its application is limitless. From identifying valuable patterns for forecasting to automating follow-up emails, AI is changing the sales landscape and how salespeople interact with customers.

Let’s explore the top 4 ways AI can support your sales organization:

1: Sales Forecasting

Traditionally, sales forecasting has been a time- consuming process,prone to human error, and heavily reliant on the individual salesperson’s intuition and experience. However, AI is revolutionizing this process.

PUT IT INTO PRACTICE:
Use AI-powered software to analyze your historical sales data and ask it to identify patterns and predict future sales trends. This technology can consider factors that humans might overlook, such as seasonal variations, market trends, and even global economic indicators.
If utilized consistently, your AI-powered system will become increasingly precise, providing invaluable strategic insights for sales teams. Sales forecasting enables business owners to plan their revenue stream, budget more accurately, and forecast future growth.

2: Lead Generation & Qualification
AI software can help businesses generate leads and manage them effectively. Machine learning platforms can analyze customer data, website traffic, and social media engagement.

PUT IT INTO PRACTICE:
Enable a chatbot on your website to engage with visitors and initiate lead-qualifying conversations. By asking targeted questions and gathering information about their needs, budgets, and preferences, chatbots can then identify potential high-quality leads and immediately route them to the sales team for a personal follow-up. By utilizing AI, sales professionals can personalize their approach and spend time talking to the most high-value prospects.

3: Content Creation & Brainstorming
AI-powered content creation tools can generate creative ideas and valuable insights for prospect messaging. This not only eases the process of content development but also ensures its relevance, catering to the specific needs and preferences of the target audience.

PUT IT INTO PRACTICE:
AI tools, such as ChatGPT, are excellent options to generate content based on specific guidelines. Feed your AI-powered platform with tasks, such as generating a prospect email, a response to a qualified lead, or even creating a social media post to promote your newest offering.
Remember, while AI provides a significant boost, human editing is still necessary to maintain the brand’s voice and ensure the content’s overall coherence and quality.

4: Competitor Analysis
AI can provide real-time competitor analysis, giving businesses a leg-up concerning competition. AI software can monitor competitor activity, such as price changes, new product launches, and promotional activities.

PUT IT INTO PRACTICE:
Begin searching for relevant data to answer questions about competitor products, pricing, and marketing positioning. Such questions could include “What is the value proposition of Company X?” “What is Company X’s target market or service offering?” Using the data compiled can help businesses formulate a better sales strategy and alert sales reps of any changes in the competitive landscape.

The Bottom Line:
Artificial Intelligence is transforming the sales industry and providing endless possibilities for businesses to optimize their sales organization. Yet, in a recent poll we conducted, 35% of Small to Mid-Size Businesses were not implementing this revolutionary technology to streamline their sales processes.

South Glens Falls resident Brian Stidd has been happily ensconced in the accounting world for more than half his life. But he also has a passion for business. So when he decided to end his employment with a local accounting firm and strike out on his own, he was determined to combine both of those loves into one job. And thus was born his newest source of satisfaction—his very own company: Stidd, CPA, PLLC.
Now, as the sole owner of a professional limited liability public accounting firm, Stidd performs tax planning and preparation for small-company owners and individuals while also providing business advisory services. According to Stidd’s website, the company’s goal is to “provide comprehensive assistance to businesses, combining the precision of public accounting with the strategic insight gained from the private sector.”

Stidd, who became a certified public accountant in 2007, has been operating his Glens Falls firm, now located on South Street, since the summer of 2023. “I just always wanted to own my own business,” Stidd said in a recent telephone interview. “I’ve got an entrepreneurial spirit, and the timing seemed right to do that.”

The Long Island native has been a resident of upstate New York since 2005, when he graduated from Siena College while majoring in accounting. “My dad was an accounting major,” said Stidd, recalling his years living downstate. “He started his own business in structured finance. I always liked math, [and I progressed] from math to accounting, and then on top of that, I love the business side of things too.”

After a prospective client contacts him, say for tax help, Stidd sets up a meeting, which can be done in person, over the phone, or even via a video conference. “I’ll get information from that call, and if everything looks good, I’ll get prior-year (tax) returns and other prior-year information. I typically have follow-up questions, at which point I have a more in-depth meeting with the client before sending them a proposal.”

For all clients seeking services, Stidd offers three different pricing packages. No matter which one is chosen, Stidd encourages all his clients to call with any questions they have during the year and before completing transactions in order to properly advise them.
After Stidd establishes a connection with clients, he reviews their companies’ performance quarterly. “Basically, I help them develop management-use financials” such as metrics and other tools, he said.

Stidd went on to explain how he enjoys working with owners and entrepreneurs in a variety of industries to grow their businesses and ensure their overall financial health. Over the last nearly two decades since Stidd graduated from Siena, tax rules, he noted, “are changing much more rapidly.” In addition, “there is better technology for improved processes and better information for business owners. Technology is changing faster, and you have to make sure you’re on top of it.”

To that end, Stidd, who earned his CVA (Certified Valuation Analyst) credential in 2015, has been taking continuing education courses to keep up with those changes in the industry. “I enjoy the technology side of it,” he said, “and being able to pick the software and set up the processes the way I want to do it is a big thing.”

As of the new year, Stidd has nearly 100 clients, the majority of whom are located in the Albany-Glens Falls corridor along the Northway. Because he is able to work remotely, he also has out-of-state clients, including those from Connecticut and Florida. If all goes as planned, he will begin adding staff in the fall.

For the upcoming tax season, Stidd has a message to impart: “The biggest thing I tell prospects or any of my current clients is, ‘If you’ve got some kind of financial transaction coming up that you’re thinking about, call your CPA and discuss it with them first before finalizing [the paperwork]. Because once you do the transaction, you can’t change the tax consequences.’ If you do some planning ahead of time, you may be able to save on taxes.”

Since he started his own company, Stidd has been more than happy with how things have turned out and with the people he has met. “I look at it as a partnership with my clients, and it’s typically a long-term relationship,” he said. “I love what I do, obviously, with my clients. I really enjoy the business side of it and being able to take something and grow it and build the business.”

Stidd can be reached online at StiddCPA.com, and by phone at (518) 414-3242.

Two years ago, I wrote a blog article about where people miss the mark when defining their target market. The idea was that when I talk to business owners about their marketing efforts, they always tell me they can sell to “anyone” and “everyone.” I don’t want to spoil it for you in case you would like to go read it, but for most companies, it’s financially impossible to market to “anyone” and “everyone.”

In the previous article, I told you how to narrow your target market using Demographics, Geographic area, and Psychographics to define why they want to buy. In this article, I want to tell B2B companies that the most important change to their marketing this year will be to Redefine and Refine their target market to create “The List.” Don’t worry, I’ll give examples and more explanation. I should mention though that this really is for B2B businesses. I am not saying B2C cannot put this into practice; it will just take a bit more work.

Here are the steps to redefining and refining, with some examples of how we’ve handled this ourselves here at Five Towers:

1) Take a second pass at DEMO, GEO, and Psychographic Info.
Our objective here is to narrow down these categories. For us, we started with a smaller geographic area. Logistically, we can work with anyone anywhere, but the businesses we love to work with are located in Warren, Washington, and Saratoga Counties.
We also narrowed down our demographics— specifically with regard to industry types. We love to support blue collar businesses, manufacturers, and professional services (attorneys, CPA’s, financial services, etc). What we found is that narrowing down our Geo and Demo also changed our Psychographics. Our target market does not want to worry about the hottest creative trends or staying up to date on best practices in a fast moving environment. In many cases, our Target Market has a Marketing Coordinator who needs the resources of a large team but does not have the budget for in-house employees.

2) Reach out to current clients that fit this refined targeting data and interview them to help refine Psychographic Data. This is also a great way to ask for a Google review or testimonial. You are looking to get their reason for loving the work you do and why they continue to work with you.
This will help with #1 above and also help you refine your messaging. If you do this for 5-7 clients, you will have some great data and can look for the overlap. If all of your clients say “it takes a ton of weight off their shoulders to be able to count on you and your team,” you should probably include similar messaging in your marketing efforts.

3) Compile “The List.” This step is one of the most important for truly becoming efficient and effective with your marketing efforts. If you followed the steps above, then, like us, you are probably able to start doing Google searches or scouring websites (such as your local Chamber of Commerce) for companies that match your newly refined Target Market. The more complete the contact info, the better. Company name, physical address, website, contact name, phone number, etc. When you start to look at a modern multi-pronged approach to your marketing, you will need all of it.
I’d also like to mention that “The List” is something from one of my favorite business books, Traction by Gino Wickman. It is a must read for any business owner looking to grow and scale their business. It discusses EOS, which is an amazing system, and we are lucky enough to have an EOS Implementer right in Glens Falls. If you do not know Wendy Waldron, you should. Check out the article she wrote in this edition – Great Business Owners Are Like … Octopuses?

4) Design Your Marketing Strategy Around The List. Having The List and designing your marketing around it makes everything simple. It removes complicated schemes and allows you to be as efficient as possible.

5) Execute, Execute, Execute. All the planning in the world is not worth a dime if you do not execute and follow through on your plans. Too often I see people spend tons of time making plans, getting ready, and then not executing. Or worse, they start to execute and then continually alter the plan, stop and start, or stall. These same people will end up scratching their heads, wondering why the results aren’t coming in.

The overall success of your marketing efforts may not rely solely on how specific your target is — but it certainly starts there. With a redefined and refined Target Market, you know who to look for at networking meetings. You know how to communicate to referral partners to whom you would like to be connected. You know what kind of content to create and what messaging will strike a chord with the right audience. You know the right targets to put on that mailing list and which to leave off.

To be fair, I am not sure there is a single downside to a redefined and refined Target Market.

Like most veterans, when US Marine Corps Sergeant Major Chris Thomas left military service, he weighed his options and asked himself a tough question: “What am I going to do, now?” Transitioning jobs can be emotionally draining and mentally exhausting for anyone, but for veterans thrust into civilian life, the prospects are daunting.

In 2022, Chris founded Elite 9 Veteran Talent Acquisition Services, LLC, an employment placement and business consulting firm focused on matching candidates with the right jobs. The Elite 9 team also provides employers with leadership development training, helping to facilitate the conversations that
resolve workplace conflicts, create a more cohesive team, and a more positive work environment for everyone.

“I’ve seen so many service men and women (who perform well in active-duty) struggle immensely when they get out. When I envisioned this company, I wanted to find ways to partner companies with veterans (or those wanting to work with more veterans) but what I quickly realized was that, while there are veterans in need, these companies could also use other services including workforce development solutions that went beyond recruiting, to retaining employees,” said Chris.

PROCURING A FLIGHT PLAN
In June 2001, Chris joined the Marine Corps and began working in the Marine Aviation Logistics Squadron stationed in Beaufort, SC. From 2005-2008, he took a special duty assignment as a Drill Instructor in Parris Island, SC before moving on to high-level aviation logistics in Norfolk, VA. He was then selected to train Navy Officers at Officer Candidate School in Newport, RI. In 2015, he was among the rarified few chosen to serve as First Sergeant.

“It takes a special person to become First Sergeant,” said Chris.

Enlisted service personnel positions are sorted into an E-1 to E-9 ranking system, he explained; First Sergeants are selected from a competitive list of E-7 level Gunnery Sergeants. As First Sergeant, Chris’ duty was to perform human resources tasks for companies with 160 – 600 people. As a senior advisor to the Commanding Officer of the unit, as First Sergeant Chris’ responsibilities also included boosting and maintaining morale, promoting general welfare, addressing disciplinary issues, as well as guiding personnel through the strict brig regimen, the legal measures of losing rank, and processing out of the Marine Corps.

DEFUSING DRAG
In 2019, after a board review of Chris’ Marine Corps experience, he was selected to the rank of Sergeant Major. After achieving this elite E-9 status, Chris was ordered to Recruiting Duty, and was responsible for Marine Corps recruiting in Boston, MA, Central and Eastern Pennsylvania. As fortune would have it, it was in Pennsylvania where he’d also be closer to Anne, a Lake George, NY native he’d met online. Then, after 20 years of service, Chris left the Marine Corps to marry Anne and join civilian life in Upstate New York.

“There are a lot of veterans embedded into the Warren, Washington, and Saratoga Counties with organizations like the VFW, Veteran’s Affairs, County Services, and the Joseph P. Dwyer Peer Support Program (which offers holistic grants so those leaving service can be more effective). In my experience, I’ve never seen anywhere else as responsive to veterans,” said Chris.

DEPLOYING THE LANDING GEAR
“As long as you do what you’re told to do, and how you’re told to do it, you’ll be ok (and get that paycheck twice a month),” said Chris about military service. This level of job security puts veterans transitioning into the civilian workforce, and its relative unreliability, in a precarious position. Unsure of how to translate their military skills into civilian terms, veterans may take a temporary position to pay the bills, then stay on; dissatisfied, but glad to be putting food on the table.

Elite 9’s rigorous, mission-focused mindset instead puts job seekers in the pilot’s seat with effective career search strategies, expert resume writing services, and a specialized job bank of available openings. Elite 9 writes 2-page resumes for candidates applying for non-federal positions, and detailed 4–6-page descriptions for Federal agencies – giving problem-solvers with a readiness to adapt and perform a leg-up in securing these coveted positions.

MASTERING THE SWITCH
Finding the talent to fill civilian job openings is only part of the Elite 9 equation. They also act as head-hunters and facilitate candidate-employer connections through the Department of Defense (DOD) SkillBridge Program, placing service members in valuable paid internships with civilian companies during
their last 180 days of service. An obvious advantage for interns looking to gain work experience, the DOD SkillBridge Program also comes at zero cost to employers (as service members will continue receiving their military compensation and benefits during their internship).
Local companies including State Farm, Mr. Electric, and Miller Mechanical Services have currently been approved to participate in the program, making them visible to the nearly 200,000 highly-trained and motivated service members making the transition into the civilian workforce each year.

SOARING TO GREAT HEIGHTS
Although a life spent in the line of duty already provides unique cross-training in multiple skill sets, Chris understands knowledge is power and has added a Bachelor’s Degree in Criminal Justice, and two Master’s Degrees in Public and Business Administration to his long list of military credentials. He also chose to participate in the Resilience-Building Leadership Program, an authorized DOD Training Partner, working to create comradery while building resilience within companies.
After an initial consultation, Chris conducts DiSC personality assessments to categorize employees by their learning style. In addition to being a catalyst for successful decision making (that allows managers at every level of the company to identify issues and respond), Chris also uses what he discovers to conduct conversations that create cohesive teams.
Then, after approximately six months, Elite 9 revisits its business clients for feedback and to address any concerns that may still exist, building accountability into the system, and leading by example.

For more information, find Elite 9 Veteran Talent Acquisition Services, LLC on Facebook, Instagram, LinkedIn, and at elite9vtas.com