Referral Marketing

By
Services for Real Estate Pros with Brivity
http://actvra.in/4YfR

Referral marketing.jpeg

 

Are you sitting on an untapped source of business?

One that you could have been mining all along?

What is this gold mine?

We’re talking about referrals.

While many of you will say you’re getting referrals already, are you using this source as fully as you could?

 

A referral refresher

At its most basic, a direct referral is where a happy customer has a friend looking to buy or sell a home and they refer that friend to you.

When someone offers a referral, they have already vetted that service provider (be it a real estate agent, a plumber or a piano teacher), which immediately elevates that service provider to the level of a “trusted professional” based on their friend’s recommendation.

And that translates into better conversions. According to Social Annex, referral marketing generates 3-5 times higher conversion rates than any other channel.

Clearly, referrals can become a sizeable part of your business, but it pays to know how to handle the process. Here are a few tips to remember:

  • Don’t be afraid to ask for a referral – just don’t make it high pressure. Be specific as to what kind of referral is best for you. Giving a potential referral source a few of your cards is an easy way to help them pass along your name when the time is right.

  • Repetition is key – Even if you’ve asked for referrals before, remind your contacts on a fairly regular basis that you value their referrals. This is an ideal opportunity to use your CRM to schedule reminders.

  • Offer stellar service  – When you’ve done an excellent job for your clients they won’t hesitate to recommend you. This is a great time to remind them you always welcome referrals.

  • Say thank you – A handwritten note to your referral source is a sure-fire way to delight that person, and reconfirm their choice to refer you.

 

Turn a referral into referral marketing

Think about taking the referral process further and leverage their power for your marketing efforts. Referral marketing, also called word-of-mouth marketing, allows you to build upon the excellent service you’ve already provided and parlay it into new opportunities.

The “social proof” theory tells us that when others endorse a product or service, it greatly increases the likelihood we’ll follow suit. With the rise of social media, social proof travels much faster, which can be leveraged in your marketing efforts.

Since referrals show trust in your services, think more broadly about how you can generate that trust:

  • Reviews posted online – Think not only of testimonials you may have on your website but also reviews posted to platforms dedicated to customer reviews such as Yelp!, Google Reviews, Angie’s List, Zillow, Redfin and Trulia. Have an especially good review? Share it on your social media channels as well to let those good vibes travel even further.

  • Editorial content – The opportunity to brand yourself as an expert via a newspaper or magazine article or as a guest blogger can add tons of credibility in the eyes of prospective clients. Post links to articles and blog posts on your website as another means to build your credibility.

  • Value-adding content – Demonstrate your value by offering a market report, list of trusted partners (lenders, inspectors, contractors, etc.), or other informational giveaways that your referral sources can provide to their friends as the entree  to your services. These can be created as pdf documents that can be downloaded from your website or emailed (again, think of your trusty CRM). Added bonus: Producing a digital product negates the cost of printing.


Are you ready to make the most of your referrals? How will you employ these tactics?

 

 


 

How to use Brivity CRM to provide stellar service and generate referrals 

 

 


 

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Tags:
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Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

I just read something today via my friend that made CRM a little clearer to me, which is not a bad thing.

Nov 14, 2016 02:31 PM #11
Rainmaker
793,277
Les & Sarah Oswald
Eastvale Team Realty & Property Mgmt - Eastvale, CA
Broker, Realtor and Investor

It is much easier to work on referral leads than cold leads. Onward to a huge successful 2017!

Dec 06, 2016 09:28 AM #12
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

Thanks for the referral refresher course there are new things that are happening all the time.

Dec 06, 2016 11:05 PM #14
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

I think I need to look back into my notes on referral marketing. I'll probably get back to you tomorrow with more analysis.

Dec 06, 2016 11:07 PM #15
Rainer
11,317
Jeremy Marquez
Sacramento, CA
Freelance Marketer Cold Calling Appointments Deals

Using your #channel #partners is the BEST way to start, #insurance #brokers, #mortgage #pros, even the #service pros like #contractors #painters #vendors. If interested in some quick #training or even #retaining me to help nurture these relationships for you call me anytime 9165380576

Dec 07, 2016 09:06 AM #16
Rainmaker
3,371,413
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for you comment on my post yesterday.  I hope to see you continue with your blogging efforts here on ActiveRain.

Dec 14, 2016 04:51 AM #17
Rainer
105,230
Dusty Rhoton, SFR, SRS, CDPE, RSPS, SRES, ABR, GRI
Century 21 Flagstaff Realty - Flagstaff, AZ
Flagstaff Real Estate

My business "thrives" because of referrals!    In 2017, I am doing things a bit different with my referrals in other cities and states across the U.S.   I will keep you posted on my progress!

 

Dec 21, 2016 04:47 AM #18
Rainer
13,013
Charlie Harrison
Hamilton & Co. - Greenville, SC
Buyer's Specialist- Are you ready to buy today?

Referrals are a catalyst for building a brand that will be talked about for years!

Dec 21, 2016 07:43 AM #19
Rainmaker
556,077
Olga Simoncelli
Veritas Prime, LLC - New Fairfield, CT
Broker-Owner, RE Consultant, Licensed in CT & NY

Referrals are the best! Thanks for some additional tips.

Dec 21, 2016 08:55 AM #20
Ambassador
1,686,652
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I totally agree with you- the referral business is the most cost efficient way to go and definitely keeps our doors opened! 

Dec 21, 2016 07:56 PM #21
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

I may be referring someone to you pretty soon. Stay posted and stay tuned. All the best in the new year!

Dec 29, 2016 11:58 PM #22
Rainer
13,013
Charlie Harrison
Hamilton & Co. - Greenville, SC
Buyer's Specialist- Are you ready to buy today?

Thank you! Great to have a reminder that referrals can be just as effective, if not more so thank generating new leads.

Jan 04, 2017 11:46 AM #23
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

Sometimes it just comes down to authenticity and you really end up getting the referrals you need.

Jan 11, 2017 11:39 PM #24
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

Referrals are social and friendly and cooperative almost in like a collaboration way. Charlie Harrison I really like it that way!

Jan 11, 2017 11:40 PM #25
Rainmaker
1,219,993
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Thanks for the great advice. I love referrals expecially outgoing referrals!

Jan 23, 2017 05:58 AM #26
Rainmaker
76,539
Christina Hayes
Everlasting Credit Repair - Morristown, TN
Credit Repair Expert

Very informative. I never thought of adding a market report... Thank you.

Jan 23, 2017 04:58 PM #27
Rainmaker
105,327
Foster Smith Summerville
Carolina One Real Estate - Summerville, SC
Summerville & Charleston Homes for Sale SC Realtor

Completely agree! Referrals have always been a large part of my business in real estate and social media and the internet have taken it to another level.

Jan 23, 2017 05:25 PM #28
Rainer
26,284
M SQUARE
Realty One Group Alliance - San Mateo, CA
Broker Associate & Licensed Architect

Referral leads are good than cold leads.

Feb 06, 2017 03:17 AM #29
Rainmaker
1,913,824
Will Hamm
Hamm Homes - Denver, CO
"Where There's a Will, There's a Way!"

The more we ask for the more we can get in referrals, thanks for reminding otheres here in the rain of that.

 

Feb 06, 2017 07:05 AM #30
Rainmaker
2,273,168
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker, Author&Artist

I feel like this post about referrals will be the thing that gets a lot of referrals for at least 20 people on this page's comment section haha.

Feb 19, 2017 10:21 PM #31
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