Lately there have been articles written about diversifying your business – well I say, “Go with what you know”. It is time to focus on your database, the management of your database and its growth.
- The question is, why try to get into foreclosures? This aspect of the business is already overwrought with Realtors, is difficult to penetrate and in many instances can be very expensive as expenses need to be covered until they can be reimbursed by Fannie Mae, Freddie Mac or the banks.
- Why begin mass mailing campaigns? They are expensive, time consuming, produce a relatively low return on investment plus it takes years to establish yourself as the expert.
- Internet campaigns are time consuming and have a relatively low return on investment plus the leads can take years to incubate.
- People – much like yourself – hate to be cold called, so why do it?
- Door knocking is for Girl Scouts, not professional Realtors.
So let’s focus on who you know and how they can get to know you better so you can get referred more business. How can people in your database get to know you better? It can be summed up in one word – consistency.
- You need to become consistent in your mailings to your sphere. The mailings need be informative to the recipient – their house value, interest rate information, neighborhood information, area trends, etc. Also, keep good notes on your members so you can send them coupons to their favorite restaurant, information about camps for kids, etc. Remember, it is about them – not you!
- You need to be consistent with your calls. Call them on their anniversary, the anniversary of the purchase of their home, holiday greetings, birthday wishes (remember I said to take good notes on your members?), summer vacation calls, your neighbor just listed calls, or just checking in calls will all work – do it consistently!
- You need to provide great client events. Typically one for the kid oriented groups and one for the adults. Ball games are great, bowling nights, Super Bowl parties, and Casino nights – all work. Get creative but just do them.
- You need to invite to participate in charitable events. If you don’t host one – start. If you “don’t have the time”. Get involved in a charity and volunteer. Your database needs to see that you are passionate about something other than business. By giving back – you will get back!
- Network – consistently to add new people to your database. Join a BNI, referral share group, chamber, hold business to business meetings, join an association, coach youth sports, and get involved in something to allow yourself to meet more people! The only way to add to your bottom line is to add people to your database.
Basically, you need to spend the year focusing on your database – not other avenues of business to get you long term results. Get it? Got it? Good!
Now, go sell something!