Decode Your Data to Drive Business Momentum-with Mike Berland- EP115

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer talks to Mike Berland, founder and CEO of Research Data and Analytics from Decode_M. He is an expert on how consumers and decision-makers think and behave; He is also the  author of the  book called, Maximum Momentum: How to get it, How to keep it. Episode Highlights:  Data: How do you dissect it? How do you use it to your advantage?  Jeff and Mike discuss the pandemic and how everyone is going to come out from this. Mike talks about his life journey and how he learned valuable lessons from working in political campaign trails and applied it to business. When data became more and more available, he took his polling expertise and went into analytics.  Decoding data into momentum is what helps people to feel that they are moving forward.   The five key drivers of momentum are disruption, innovation, polarization, stickiness, and social impact. Residential real estate has been the hardest topic for the past year as everybody was quarantining and started talking about their home. People are now much more interested in improving their homes to make them more comfortable than they ever were before. Decode_M analyzes how they can meet their consumer’s needs through the momentum mindset. Pre pandemic, clients were hyper-focused on amenities and aesthetics. Post pandemic, statistics show trends of people moving from urban to suburban situations. Space is at a premium and priority factors have shifted. In Mike’s research, he has found that people are willing to pay more for things that they believe have momentum.  Social media plays a huge role in real estate and you cannot over promote yourself on the platforms. The real estate industry is a confidence industry that values knowledge, expertise, and relationships, which are all keys to this business. In residential real estate, it is usually even more emotional than it is transactional. Understand your target, the objective, and be flexible to embrace what will help you succeed in your business and what forces can knock you out of business Jeff says we have to shift the way we think about how we are marketing properties; Think about focusing on safety, outdoor space, and things that today have become the most important to consumers. Moon shot is a vision that’s out in the future that inspires people and motivates them to achieve it.  What should be done in business to maximize success with a potential moon shot?  Communicating to people about both safety and making long-term decisions is critical. 3 Key Points: Mike talks about using artificial intelligence and different data types to collect and analyze how customers behave and work with their potential. Momentum in business applies to brands, products, and people. The five key drivers of momentum are: disruption, innovation, polarization, stickiness, and social impact. Jeff asks Mike, “How do you believe that last year will change many things for many industries and how 2020 is reshaping our future? Resources Mentioned:  Lab Coat Agents  | Website | Facebook | Facebook Group | Twitter | Instagram  Jeff Pfitzer   | Instagram | LinkedIn | Twitter Mike Berland |Website | Team |  LinkedIn | Book StreetText (sponsor) Follow Up Boss