Recently we have been talking about the importance of communicating on a regular basis with your client database. The question that we want you to think about this week is, how many names do you have in your database and how often do you add to that list?
In the last 12 months how many people did you meet or talk to on the phone? Stop and think about the approximate number.. Is it 100 or is it more like 1000 + +.
Online marketers love to talk about how the money is in the list. What do they mean LIST? It basically means the list of prospects / clients that you have in your database. So in your career as a Real Estate Agent, how many people have you meet, and are they all in your list?
We know that in most developed counties people move houses every 5 to 7 years. So if you meet me today and we talked about buying a home, then theoretically by 2016, I will do the following:
– Buy a home
– Sell my home
– Buy another home
So in theory, you could possibly be involved in up to 3 transactions with me over the next 7 years. Now that does not include
– Any investment properties that I may buy.
– Any family and friends that I may recommend to you.
So let’s say you have 1,000 people in your list, who you keep in touch with regularly with valuable information: you know what they want and they know who you are. Now let’s say that you got 10% of their business as outlined above, then your settlement list will look like this by 2016:
3 x 1000 x 10% =
300 settlements in 7 years, that’s approximately 3-4 settlements every month!
That is the foundation of a very solid and successful business.
Now the question is, do you have all these 1000 + prospective customers details and have you kept in touch with them?
If you are not already doing this, what are you going to do to get started?
There are many different ways you can maintain this list:
1. On pieces of paper / sticky-notes !!
3. On excel spreadsheets
4. Generic CRM software. You may have heard of ACT, Goldmine or similar off-the-shelf software.
5. Real Estate specific CRM software
What is CRM Software?
Definition: Customer Relationship Management (CRM) software is a way for you to capture every lead, purchaser, seller, service provider and other contacts that you deal with on a daily basis. It then enables you to systematically communicate with all or select contacts very easily by email, phone, mail, the web or sms.
It will transform the way that you sell, increasing sales whilst lowering the cost of sale, improve customer service standards and protect your business when
key staff leave.
1. Review your current CRM / Database system
If you already have a CRM system that you are using, identify if you are using
the system to its full capacity and if you need further training to make
better use of it, then organise that. If you can’t get it working the way
you want, you might need to consider changing software and suppliers.
If you don’t have one – identify that you want to implement Real Estate
specific CRM software. Research the software out there in the market (Choose
one that is easy to use and gives you the functionality you need. It is
important to list for yourself exactly what you want to achieve from the CRM
software and then use this to compare the various options available).
2. Set up your existing contacts. We suggest that you focus on quality and not quantity. That is put into your database people that you have meaningful relationships with and will welcome communication from you. Don’t import old databases from prospects 10 years ago that you have never spoken with since.
3. Send out your first email to all your contacts / prospects / customers / past customers. You can use the templates you have already downloaded from our previous blogs. I think you will be pleasantly surprised at the response you will get from even your first email.
As always, please let us know your feedback on this or any other idea, as your feedback helps us to continuously improve these strategies.
A Quick Brightfox Plug!
Did you know that Brightfox is one of the world’s leading providers of CRM software and online marketing solutions for the property industry. We have a suite of software applications to suit individual agents, small, medium and large agencies, multi-office agencies, property developers, investment networks and retirement village developers and managers. We would welcome the opportunity to show you how we can help your business, so please do not hesitate to contact us.