WHY LOYALTY MARKETING?

Why loyalty marketing? Because the overwhelming majority of real estate transactions come from referrals, you need a marketing strategy that not only retains existing clients, but gets them to recommend you to others more often.

Loyalty marketing is a process that identifies best customers by retaining and growing profitable relationships. Your most profitable customers not only transact with you, but also refer new business opportunities to you.

Most successful companies that deal with consumers have robust and capital intensive loyalty marketing programs -- because THEY WORK!

American Airlines years ago offered a loyalty rewards program and other airlines followed them. Credit card companies came with rewards programs. In recent years Target decided to take a major share of their advertising budget and give it back to their existing customers. They determined it was more effective and less costly to do loyalty marketing to existing customers than try to convert the whole buying public.

Rewards Programs and many loyalty activities are transactional based -- "purchase this" and "get this" -- these are reactive

Loyalty Marketing is relationship focused and pro-active rather than re-active

Let's use as an example a REALTOR® with a data base of 250 and they actually know 50 people well. The question becomes, how many of even the 50 are willing to talk about the REALTOR®? Those are the ones you need to engage and cultivate relationships with, and need to move others of the 200 into those that will "carry your banner."

You need a loyalty marketing solution that identifies those customers and cultivates your relationship with them.



Arnie Goldberg, VP Loyalty Builder, LLC agoldberg@loyaltybuilder.com

Exposure - Loyalty Building - Keys to Success

The key to self-marketing is EXPOSURE, and let's face it, realtors are a business within a business and certainly are self owned. Today that exposure means being a local celebrity (a well know person and face) plus social networking exposure for relocation leads, contacts and information.

The idea is to STAND OUT and sometimes that is for expertise in types of homes or specific desired properties (examples: condominiums or first time buyers). A slogan is helpful and it must be concise and to the point so it attracts attention and is memorable. Your image must have the perception that you are very successful. Quality brochures give the perception of success and are important, versus printing out fliers on your own printer.

Remember that marketing efforts take time to produce results. Consistent and timely marketing needs to be an ongoing process. Repetition is a key to success and persistence does produce results.