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Optimize Your Database for Relationship Marketing

By
Services for Real Estate Pros with Cobel Communications

Our first post in this series, "Do the Math On Relationship Marketing" provided an online calculator that let you play with your own numbers. I expect that your own math has stimulated a vigorous new interest in beefing up your relationship marketing capabilities. Here's what you should do next.

1. Consolidate Your Databases

Pull all of your various databases into a spreadsheet:

  • MLS Prospects
  • Leads from your Web site(s)
  • Outlook Records
  • AOL, Yahoo, Hotmail, Gmail, etc. Records
  • PDA and Mobile Phone Records
  • Business Cards
  • Membership Lists
  • Napkins
  • Other?

Clean them up:

  • Make sure all the data is in the correct column (i.e. first names in first name column, emails in email address column, etc.)
  • Capitalize letters of first and last names.
  • Delete people you don't want to market to.
  • Correct spelling.
  • Get missing email addresses

2. Categorize Your Records

Create a new column in your spreadsheet called "Contact Type"

Create the following standardized Contact Types:

  • Newly Met; i.e. people you've just met who are not currently in the market to buy or sell
  • Met; i.e. people you've had some two way communication with in the past who are not currently in the market to buy or sell
  • Client; i.e. people who've bought or sold with you in the past
  • Hot Buyer; i.e. people who are ready to make an offer as soon as they find something they really want
  • Warm Buyer; i.e. people who are looking, but not quite ready to make an offer yet
  • Hot Seller; i.e. people who are ready to accept a good offer
  • Warm Seller; i.e. people who are thinking about selling, but aren't quite ready to list
  • Vendor; i.e. third parties you work with
  • Agent/Broker; i.e. other agents/brokers you network with

Enter these Contact Types, as appropriate, for each name into your spreadsheet.  Use multiple Contact Types as needed; just separate them with commas.

3. Count Your Email Addresses

Because email template links can bring people directly to your Web content, email/Web marketing is the fastest, easiest, cheapest and best marketing communications you can do. When email/Web marketing is automated, you've got a virtual relationship marketing and lead generation machine.

Count your email addresses, and run your numbers again (through the Relationship Marketing Calculator above) to see what kind of results you can expect from your automated email campaigns. Then count the records without email addresses, but with mailing addresses, and run those numbers. Keep in mind that you'll have to do a lot of expensive printing, handling and posting to market to this second group.

4. Plan to Get More Email Addresses

After you've done step three above I'm pretty sure that you'll wish you had a lot more email addresses. In this step you'll make plans to get them:

  • Make calls and ask for them
  • Integrate more forms on your Web sites for lead capture
  • Make offers in your mailings that require going to your Web site and completing an email address form
  • Purchase lists of targeted email addresses
  • Train staff to be diligent about getting email addresses

If you want to get the most out of your relationship marketing efforts it is essential that you optimize the biggest email database possible.  Watch for our next steps.

 

 

 

Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

I sort of do this now.... I have a contact list. This list has names of Mr and Mrs and their mailing address. Next column has phone numbers, his / hers cell & home numbers. Next column has email address' his / her home and office...third column is the last contact date and was it phone, face, post card etc... Also this column has name of kids.

Then for every contact on that list, I've a word mailing label list with their info.  Of course all of this is backup on computer at home and at office, thumb drive and cyber space. And I always add to the list! Surprising there is ALWAYS some one I have left off.

Any contact on the list with an email goes on my contact list in yahoo.  I don't allow anyone without an email address on my yahoo. I am afraid that I have almost reached my limit.

This way I can cut my marketing cost by emailing notes to each to let my people know I am thinking about them.

Jul 14, 2009 10:34 AM
Ray Cobel
Cobel Communications - Thousand Oaks, CA
Let's Get Real About Real Estate Marketing

Susie, you're on the right track; walking, instead of riding down it :>)  but on the right track nevertheless.

Erica, for riding I like Top Producer 8i.

 

Jul 14, 2009 11:52 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Ray, these are all very good ideas.  Now if only I had the time to do them.  Wish I would have when I wasn't so busy!

Jul 15, 2009 10:17 AM
Van Agakanian
Savvolio Real Estate - Sherman Oaks, CA
Broker Associate

Purchasing targeted e-mail addresses sounds ideal to me! Thanks, Ray. And, by the way, does Top Producer 8i allow you to import MLS data?

Aug 23, 2009 12:31 PM
Ray Cobel
Cobel Communications - Thousand Oaks, CA
Let's Get Real About Real Estate Marketing

Erica, I don't have direct experience with Advantage Xi, but I did take a look at their Web site.  The feature set they outline looks pretty good, can't say how much I'd like their implementation of those features with playing with them though.

The biggest weakness is that it is a program that runs on your computer, rather than one you access through the Internet like Top Producer 8i.  This at least means:

  • You can't access your data anytime from any computer
  • You're responsible for all your own backups
  • Adding agents and assistants to your team and giving them access to your system is a lot harder
  • Synchronizing with your Smart Phone isn't available (at least I didn't see it in an obvious place)
  • Integrating with lead forms and Web sites is a lot tougher

I'm still likin' 8i better.

Aug 23, 2009 01:51 PM
Ray Cobel
Cobel Communications - Thousand Oaks, CA
Let's Get Real About Real Estate Marketing

Van, yes, as long as you can get data out of your MLS, there is a way to get it into Top Producer 8i.  There are even ways when it's not so easy to get it from your MLS.  :>)

Aug 23, 2009 01:55 PM
Ray Cobel
Cobel Communications - Thousand Oaks, CA
Let's Get Real About Real Estate Marketing

Evelyn, that's my business; doing implementations my client's don't have time for.

Aug 23, 2009 01:56 PM