Are You Mining The Gold From Your Database?
By Kyle French
We all have things we don’t like to do; things that aren’t pleasant, but are also not difficult. Shoveling dirt, picking up after your dog, and changing a diaper are all examples. Another example is picking up the phone and calling your past clients. Many people are systematic about sending a newsletter or mailer or an occasional email, but personal contact is far and away the most effective way to build and maintain a relationship. Keep in mind, it is SIX TIMES more costly to get a new customer to buy from scratch than it is to get an existing one to buy again or refer you to their friends. How does this apply to you? Here is the market data:
– People move very 4.9 years
– They have a “Major Life Event” every 39 months (marriage, divorce, baby, move, death in family)
OK, what does this mean? Here are more cold, hard, facts. In any given group of 100 homeowners, 3% are buying RIGHT NOW. An additional 6-7% are starting to look, or seriously considering it. Another 30% are not looking, but open to it. Below that is 60% that is not interested, to slightly different degrees. Why is this important? If you have 100 names in your database, 3 of those people are buying now; hurry, you may be too late! Six or seven of them are starting to look; they are great people to talk to. Below them, another 30 are sort of thinking about it in the next year or so and checking in will give you Top of Mind Awareness, or TOMA. Would you make 100 phone calls a month to talk to people that know you and may need to talk to you? What if it meant an extra $4-7 million in sales per year?
So, as you pick up that phone, sit up straight, throw those shoulders back, be confident, and KNOW WHAT YOU ARE GOING TO SAY! Don’t you dare call up and try to solicit them to see if they are buying or selling: this is way too obvious, and destroys rapport. Instead, assuming you have a genuine interest in your clients’ lives, you have to show it. You can start by simply saying, “I drove by your house the other day, and was thinking about you.” Ask how they have been, how their family is, etc. And you should be genuinely curious. I GUARANTEE if you have sold over 50 homes in your career, when you start calling your clients regularly, you will close one to two extra deals per month. Be clever, educate them if they ask questions, be a resource, and care. It will change your life, and change your career.
To your success,
Kyle French/Founder
At SingletrackAgent we believe that however you define success, it is best achieved by focusing on a few core business fundamentals, practicing them until they are second nature, and then taking action on the steps you need to move you ahead. Keep these words in mind; Focus. Fundamentals. Action.www.singletrackagent.com
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