Question your referrals: who, what, when, where, why, and how.
Step 1 "Who": Segment your database into 2 groups: People WHO have referred you business the past 5 years and the one's that haven't (yet!)
Step 2 "What": WHAT was your last form of communication with the referring group (email, text, phone call, post card)?
Step 3 "When": WHEN did the referral occur in relation to the last form of communication (hint: client received your email and 4 days later referred a friend to you)?
Step 4 "Where": Look at your relationship with each referring client, WHERE did your relationship come from (family, friends, past co-workers, past clients)?
Step 5 "Why": This one is pretty easy. Literally ask yourself "WHY did they refer business to me?" (They thought of you first in a situation they didn't have to).
Step 6 "How": Next ask yourself the most important question "HOW can I get more?"
If you can make it all the way through these 6 steps, you will be able to truly see how to create referrals (instead of waiting for them).
Rate your database, it's really important. (1 to 5, 5 being high)
Measure the likelihood and probability of business:
What is the likelihood that this person will ever refer business to me?
If someone is currently rated at a 1 (unlikely to refer), what do you have to do to increase the probability of a referral?
- A personal phone call
- A heartfelt card sent in the mail
- An engaging email asking them how they are
- A text message, because 98% of them are opened.
So many agents operate their business in the dark.
Eyes closed, lights off trying to cultivate a relationship with no sense of direction.
Marketing is not: Your overly confident slogan or photo with your arms crossed (or even better, holding a phone to your face)
Marketing is not: Your email signature telling every human being that you appreciate referrals (we get it, you like free business)
Marketing is not: sending recipes or monthly pictures of your domestic cat petting zoo.
Marketing is: Reminding people that you exist in the way that works for them, not you.
Some people prefer texting because they hate talking on the phone.
Some people prefer a phone call because they don't know how to use their smart phone.
Some people need a greeting card because they haven't opened their AOL account in 7 months.
Marketing cannot be just one thing. Everyone you know thinks, acts, and reacts differently.
- Tawd Frensley, PropertyMinder VP of Sales and Marketing