The Power of Relationship Marketing: Tap into Your CRM’s Key Contacts
It’s been years, but I still remember my landlord — a real estate agent — calling me and asking if I knew anyone who wanted to buy or sell a home. At the time, I didn’t.
More than that, I truly wanted to help him and felt bad I couldn’t. I genuinely liked the man, and, believe me, the next day, I kept my ears open for real estate chatter.
Step one toward getting new referrals is to be a nice person people want to help. Step two? Ask for referrals.
Ask everyone. Your sphere of influence then connects to their sphere, and each person you contact broadens your possible referral base exponentially.
But that just covers the basics. There is so much more that agents can do to get more referrals.
The Bedrock: Relationship Marketing
According to author Mari Smith, relationship marketing emphasizes customer satisfaction and retention with an eye toward building profitable long-term relationships.
It differs from other forms of marketing by focusing more on the client relationship. Its key principle is client retention.
The good news for the real estate agent is that relationship marketing is less expensive in the long run than other forms of marketing.
“Acquiring a new customer can cost five times more than retaining an existing customer,” according to Taylor Landis at OutboundEngine.com.
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Who’s in your Database?
If your database is populated with only former clients, you’re missing out on a huge chunk of business.
You should have every single person you know in your CRM – from your hairdresser to your aunt Martha. If they’re breathing, they should be in there.
Here’s why this is important: the relationship marketing approach also focuses on the customization of your marketing efforts.
In his book “Purple Cow: Transform Your Business by Being Remarkable,” marketing whiz Seth Godin agrees and insists that you should “differentiate your customers … Find the group that’s most likely to influence other customers,” suggests Godin.
It starts with asking the right question: “Who do you know who is looking to buy or sell a home?”
2. The Free 6-Month Done-For-You Strategic Marketing Planner
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3. The Free Online Real Estate Business Plan
The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals. – Click Here
4. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
