During periods of challenging market conditions, when the market seems to slow down and competition becomes fiercer, title companies must explore ways to expand their market share and maintain a thriving business. Embracing these slower times can offer hidden opportunities to establish a stronger foothold in the industry and forge lasting relationships with clients.
In this blog, we recap our recent discussion with Dr. Cindy McGovern, owner of Orange Leaf Consulting and a two-time author, about navigating slow times and key changes you can make to gain market share to come up on top.
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A Little Bit About Our Guest
Dr. Cindy McGovern, known in the business and sales community as “the First Lady of Sales”, is a personal branding expert and helps title companies grow their business. She and her team at Orange Leaf Consulting help title professionals evaluate their businesses, build strategies to catapult their growth, and then help with implementation. Her goal is to help people know the power they have in selling their brand.
Overview of Current Market Conditions
Our market has shifted a lot the last few years; from quiet quitting, to the great resignation, there’s been a significant amount of pivoting to adjust to the changing landscape. As Dr. Cindy put it, she believes we have in the “Great Rebrand”, with businesses shifting their focus more on people.
It has felt “wonky” for some time now because we went from going 95 MPH for the last couple of years and now it feels like someone has turned the faucet off. Now is the perfect time to get out there and develop and deepen those relationships. Once that faucet starts to turn on a little faster, you’ll have those pieces in place.
Recognizing the dynamic nature of the market and knowing how to pivot your time with give you the best return on time investment.
Is There a False Sense of Confidence Right Now?
Some companies are starting to feel hopeful again and experiencing some ticks up with order volume – especially those who have been proactive and looking to steal market share. The problem with that is a lot of times once the spring market starts, we start to ride that wave and stop being proactive. When this happens, sales is treated as something for when there’s not enough business in the pipeline. As Dr. Cindy points out, that false sense of security of the market bouncing back – it feels good but doesn’t mean you should take your foot off the gas