If 70% of all real estate business comes from referrals, do you have a referral plan in place?
Even the successful REALTOR® may not know exactly how they get referrals from their data base list, they just happen. Imagine how many referrals one might get if they actually had a plan in place.
With today's market conditions, if you have no set plan for referrals (which of course come from customer relationships) your data base will begin to diminish.
I am seeing long-term REALTORS® who were successful without nurturing customer relationships actually leaving the business. Why? Because in a shrinking market those REALTORS® that are growing their business are taking the business away from other REALTORS® and from their data base of customers.
There are probably REALTORS® in your office that are doing better this year than last year, that have ignored the doomsayers and have plans in place to create more referral business. Not only are they doing well now, but when the markets begin to stabalize and grow again, they will become MEGA REALTORS®.
I see the industry changing drastically with the boom that will come in time. The REALTORS® that are survivors in the business will be fewer in numbers, and they will have become experts in marketing, data base cultivation, and a reliable source (go-to-person) by their clients for a multitude of lifestyle considerations.
This post is a quote from my latest eBOOK "Hints for Becoming a MEGA REALTOR®"
It can be found at www.mktgusa.com in the book store.
Arnie
arnie@mktgusa.com or arnie@a-gmarketing.com Cell (317) 489-5337
Showing posts with label loyalty marketing. Show all posts
Showing posts with label loyalty marketing. Show all posts
Friday, October 29, 2010
Tuesday, March 30, 2010
Customer Retention... Referrals
Roy Chitwood in his article, Key to Retaining Customers, states, “The key to retaining your customers in actuality is not very complicated. In fact, it can be quite simple:
Customers come to you when they have problems and needs. To both serve them well and keep them coming back, you have to provide better solutions than do your competitors.”
One executive describes customer loyalty; he says, “Correctly mining your customer database will create a means to acquire new clients over time. A system to creatively mine your customer database, providing “Treats” along the way is a sure way of creating and maintaining a successful business.”
Loyalty marketing is the management process of identifying “best customers” and utilizing customer data and insight to create, retain and grow profitable relationships.
Best customers are those who are the most commercially valuable – they bring the most profit.
Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.
Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle.
There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. We will cover the basics of client loyalty and teach you ways to create more loyal clients than ever before in your business. I have found to create a successful customer loyalty strategy and action plan, one must first understand the numerous factors that determine the level of loyalty by customers.
First we will define Customer Loyalty and begin on a trip regarding the growth of Customer Loyalty. The purpose of the information is to review the make-up and use of Customer Loyalty.
Arnie Goldberg, quotes from book "Give Your Dog A Treat" www.giveyourdogatreat.com
Customers come to you when they have problems and needs. To both serve them well and keep them coming back, you have to provide better solutions than do your competitors.”
One executive describes customer loyalty; he says, “Correctly mining your customer database will create a means to acquire new clients over time. A system to creatively mine your customer database, providing “Treats” along the way is a sure way of creating and maintaining a successful business.”
Loyalty marketing is the management process of identifying “best customers” and utilizing customer data and insight to create, retain and grow profitable relationships.
Best customers are those who are the most commercially valuable – they bring the most profit.
Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.
Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle.
There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. We will cover the basics of client loyalty and teach you ways to create more loyal clients than ever before in your business. I have found to create a successful customer loyalty strategy and action plan, one must first understand the numerous factors that determine the level of loyalty by customers.
First we will define Customer Loyalty and begin on a trip regarding the growth of Customer Loyalty. The purpose of the information is to review the make-up and use of Customer Loyalty.
Arnie Goldberg, quotes from book "Give Your Dog A Treat" www.giveyourdogatreat.com
Monday, March 22, 2010
HOW MANY ARE IN THE MARKET TO BUY A HOME?
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
What was the response? I can imagine most of the time the there are blank stares and very little positive response. In a group of ten or fifteen people I would think the percentages of finding someone interested in moving is nil.
There are true loyalty marketing systems with the new technology that can build your referral business to a point that you will never have to ask the above question ever again.
Why not ask this, “How many have family and friends that could use a system of purchase discounts and offers that can save them money and it is free access?”
Loyalty marketing is used by high powered corporations to grow their business. The airlines like American Airlines years ago started an air miles for free flights program, Target created discount programs for existing customers, Amazon added free shipping all as loyalty marketing programs for existing customers. Huge amounts of capital have been re-directed from advertising programs aimed at the whole public to create new customers, to programs directed to existing customers to create advocates and word of mouth growth.
REALTORS® have a challenge to create these type of word of mouth advocates because the nature of the industry of few transactions with seven to ten years between purchases. REALTORS® also have a challenge because they do not have large capital dollars to create loyalty marketing programs.
Outsourced programs are available to help create loyal customers that grow your referral business. These programs are available at low cost, yet provide substantial savings for customers and prospects in their everyday lives.
www.loyaltybuilder.com
Arnie Goldberg
agoldberg@loyaltybuilder.com
317-489-5337
Have you ever been in a group of people and asked... "How many of you are in the market to purchase or sell a home, or know someone who is in the market?"
What was the response? I can imagine most of the time the there are blank stares and very little positive response. In a group of ten or fifteen people I would think the percentages of finding someone interested in moving is nil.
There are true loyalty marketing systems with the new technology that can build your referral business to a point that you will never have to ask the above question ever again.
Why not ask this, “How many have family and friends that could use a system of purchase discounts and offers that can save them money and it is free access?”
Loyalty marketing is used by high powered corporations to grow their business. The airlines like American Airlines years ago started an air miles for free flights program, Target created discount programs for existing customers, Amazon added free shipping all as loyalty marketing programs for existing customers. Huge amounts of capital have been re-directed from advertising programs aimed at the whole public to create new customers, to programs directed to existing customers to create advocates and word of mouth growth.
REALTORS® have a challenge to create these type of word of mouth advocates because the nature of the industry of few transactions with seven to ten years between purchases. REALTORS® also have a challenge because they do not have large capital dollars to create loyalty marketing programs.
Outsourced programs are available to help create loyal customers that grow your referral business. These programs are available at low cost, yet provide substantial savings for customers and prospects in their everyday lives.
www.loyaltybuilder.com
Arnie Goldberg
agoldberg@loyaltybuilder.com
317-489-5337
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