Making Your Book of Business a Priority
By Julie Escobar
We’re excited about the launch of the fifth edition of the Master Marketing Magazine this month. The printed copies should be hitting mailboxes soon, but you can sneak a peek inside the pages here and read the digital version today! It all starts with a powerful but simple business plan shared with us by our old friend Floyd
Wickman. Find it here.
Every edition of the magazine has centered around different themes such as Big Data, Experts & Insights, and Geographic Farming. Our latest edition focuses on the heart of what should be every agent’s business foundation – their sphere of influence. Why? Statistics show that top producers consistently share that 66% of their business comes from their sphere. That one in every twelve people in your sphere will either do business with you or refer business your way every year IF (and only IF) you consistently make reaching out to them a priority.
For every agent who sits scratching their head wondering why “Aunt Helen” listed with another agent or is stymied by the fact that the people they most closely do business with (lawyers, doctors, dentists, accountants, colleagues) aren’t choosing to make them their real estate go-to professional, there are the top agents who get it. It costs less to KEEP and create a customer FOR LIFE than it does to cultivate new ones. Plus, it is WAY less stressful than riding the commission roller coaster your whole career.
Step One: Know your numbers. How many people do you need in YOUR SPHERE to help you hit your goals this year? We’ve created a sphere of influence calculator to help you figure out if you’re on track.
Step Two: Stay in touch. The Direct Marketing Association recommends reaching out to your book of business every 21-45 days. Savvy agents use a variety of methods to make sure that they are top of mind. We recommend the Send-Call-See approach to staying connected. That is to SEND something monthly to your sphere as a tangible reminder that you are a resource they can turn to. Then CALL everyone in your sphere at two-four times per year. And SEE everyone at least twice per year.
- Monthly newsletters (valuable content and timely topics)
- Holiday postcards (we have some for every month)
- Recipe postcards (I know agents that provide recipe boxes for their top customers for the purpose of holding onto these terrific recipes)
- Content postcards (an alternative to a newsletter, great consumer-friendly information)
- Listing inventory postcards (perfect for reminding consumers that you are always looking for new listings)
- Customer Appreciation cards (twice per year – anniversary of sale/purchase and a thank you)
For the CALL, we recommend:
- Take a look at our Master Marketing Schedule, for some fun, creative reasons to connect
- If sending the content cards or newsletters, follow up on a topic and ask if they have any questions
- Let people know that the market is in a constant state of change, and that change can raise a lot of important questions for folks. Ask them if they’ve got any questions, or know anyone who may be in need of real estate assistance.
- If you’re following them on social media, and see that there has been a change in their lives (new job, new baby or grandchild, award or accomplishment), tell them you saw the news and you just wanted to check in and congratulate them, or the appropriate sentiment for the event.
For the SEE, we recommend:
- Choosing at least five top clients a month to reach out to with an invite for coffee or lunch, or a drop by with something fun using the suggestions found in the Master Marketing Schedule.
- Hosting an annual customer appreciation party. Suggestions: rent out a movie theatre or do an outdoor movie in the park in the spring, a picnic, or an open house wine and cheese.
Taking care of the people in your sphere will help you grow your business faster and easier. Not sure where to start? Here are a few suggestions:
- Download our BusinessBASE™ – includes suggestions for the 150 people who SHOULD be in your sphere plus the how/when and why for contacting them
- Harvest from past and present transactions – client contacts from both sides
- Networking – Local Chamber of Commerce, Rotary Club, etc.
- Connectivity – If you just added two people per day each business day of the year, you could effectively grow your book of business to more than 500 within 12 months
- Acquire the client bases of agents leaving the industry
Why should you grow your sphere of influence SOONER rather than Later? It’s simple when you consider the average Lifetime Value of a Customer is more than $49,000!
We wish you every success this year and know that we are here to help! Contact our support team if you have any questions at 866-405-3638. Good luck out there making it your Year of the Sphere!