Which real estate agent marketing option works best?
To really increase your referrals through real estate marketing, you need to use all three. That’s because we live in a multimedia world and people respond to different forms of communications in different ways. So, to maximize referrals, you need to create a multi-sensory real estate marketing experience where prospects and clients are hearing from you through a variety of formats.
Take direct mail, for example…
A well-designed, well-written real estate direct mail newsletter is your most valuable marketing piece. Yes, it’s more expensive than an email or social media tweet, but it makes the best impression on those who receive it.
A direct mail newsletter for REALTORS® – designed the right way and featuring valuable content — has high perceived value. Your contacts know they are on your “most important” list when they see it in their mailboxes.
A direct mail newsletter for real estate agents:
- Stands out and gets noticed because people don’t receive much personal mail anymore.
- Is less intrusive than email. (you never have to prove it’s not spam.)
- Is read in a less rushed, more relaxed atmosphere.
- Has a tangible feel and quality. It just looks better.
- Is more likely to be kept. It may even be posted on the family fridge door!
The only downside is the expense. Because direct mail involves printing and mailing, it costs more than email and social media.
That’s why you should only send a real estate direct mail newsletter to your very best contacts – those with the highest likelihood of giving you referrals.
And who are those “very best contacts”?
Mostly, your past clients.
According to studies, a past client gets asked to recommend a REALTOR® two or three times a year. Multiply that by the number of past clients you have and that’s a lot of potential referrals. So, clearly, you want to make the best impression on these people – and the way you do that is with your best real estate direct mail marketing piece: an eye-catching direct mail newsletter packed with valuable content.
Now let’s take a look at email…
While email has a low perceived value for real estate agent marketing, especially when compared to direct mail, it does have three important advantages.
The first is speed. With an email, you can send a message to contacts almost instantly, which is great for communicating new LISTINGS and SOLDS, market alerts, and other timely information.
The second is cost. Email is inexpensive, so you can send an e-Newsletter and other messages to lots of contacts without being concerned about the cost.
The third is reports. With the right real estate email system, you can see who opened your emails, which links they clicked, and other “analytics”. With this information, you can zero in on more opportunities.
But email also has a number of disadvantages.
- Used incorrectly, email can easily be seen as spam.
- If it isn’t formatted properly, your email will not display correctly on devices.
- If the content isn’t of high value, your email will likely not be read or even opened.
- People receive a lot of emails, so the competition for their inbox is fierce.
What’s the best way to use email?
Email is ideal for staying in touch with prospects because it’s quick and inexpensive. It’s also good for sending to all your contacts such timely messages as hot new listings, solds in the area, local market news, and more.
What about social media…?
Social media is still a new form of communication to some, but for many others it is considered a great way to connect with people and businesses.
You probably have contacts that are active on Twitter, LinkedIn and Facebook. So, to maximize the number of referrals you get, it makes sense to get on these sites and have contacts “follow” you. That way, you stay top-of-mind.
And if you regularly “tweet” valuable content, your followers will share that content with their friends and followers, resulting in more leads and referrals for you.
You need to use real estate direct mail with your best contacts, such as past clients. Email with your prospects and other contacts. And social media to create followers of those contacts using social media.
Direct mail, email and social media, all working in tandem for real estate marketing. That’s the key to getting more and more referrals, month after month, year after year. How do you do all that? The Referral Marketing System does it all for you.
6 Keys to Attracting a Consistent Flow of High-Quality Referrals
Are You Getting All the Referrals You Could Be Getting?
You probably know many REALTORS® who consistently get a lot of referrals. Their phone keeps ringing with people who want to work with them. They land a lot of listings month-after-month. They make a lot of money. These are quintessential referral-worthy REALTORS® – the first people their clients, prospects, and other contacts think of when they, or someone they know, need real estate help. So how will you get to this enviable position in your business? How will you become “referral worthy”? Is it just a matter of doing a good job for clients when you’re helping them buy or sell a property? Is there anything more to it? That’s what this Referral Success Guide is all about. Throughout this guide, you’ll learn the six key steps you need to take in order to consistently attract more and more referrals each month. By the time you get to the end of this guide – (it only takes a few minutes) – you’ll have gained a new perspective on your business, and what you need to do to become the referral-worthy REALTOR® in your market. This guide is designed to help you think about the key questions you need to ask yourself when analyzing your current referral system. If you have any questions, call us at 1.800.308.6134 or email us.
1. Get into the Right Mindset
You would think that satisfied clients would be delighted to spread the word about your services. But that’s just not the way things work. Sure, you did a terrific job helping a client sell their property and buy a new dream home, but was that months or even years ago? If so, what have you done for them lately? The fact is, your clients and other contacts would give you referrals if they heard from you on a regular basis. They need to have the ongoing benefit of your expertise. They need to continuously see that you’re there for them – not just during a transaction, but also in the years in-between. The service you provide during a transaction is only part of what it takes to be a referral-worthy REALTOR®. An important part, yes. But just one part. Ask yourself this question: “What have I done for my clients, and other important contacts, lately?” Have I sent them an update on the local market? Mailed a valuable newsletter? Sent a birthday card? Phoned or visited to see how they ’re doing? Be honest here. The purpose of this exercise is to help you clearly see how often your contacts hear from you, and the experience they have when they do.
2. Stay in Touch
“Can you recommend a good REALTOR®?” asks a friend or neighbor. That conversation happens more often then you may think. In fact, studies show that each of your past clients will have the opportunity to recommend a REALTOR® two or three times each year. Your prospects, business contacts, and other important contacts also get asked for recommendations regularly. Do the math. That’s a lot of potential referrals for you! But studies also show that if you don’t keep in touch with your contacts regularly, you’ll get very few, if any, of those referrals. Keeping in touch with your contacts is an important key to maximizing the number of referrals you get each month. If you don’t stay in touch, you won’t get many referrals. It’s that simple. Ask yourself the following questions:
- How often am I staying in touch with my past clients and other important contacts? (Monthly? Yearly? Not at all?)
- Do I know the ideal frequency for staying in touch with my clients, prospects, and other contacts?
3. Add Value
Unfortunately a lot of REALTORS® focus on selling themselves rather than building a professional relationship with their clients and prospects. Imagine getting a letter, telephone call or email from your accountant each month, in which he continuously pitches his services and brags about all the great work he’s doing for his clients. “I’m number one in town!” he keeps writing. That would tire pretty quickly, wouldn’t it? The key to building a professional relationship is to use each letter, email, telephone call or visit to position yourself as the trusted, helpful, knowledgeable expert. That way your clients think of you, when they, or someone they know, needs real estate help. How do you do that? By adding value… value in the form of timely updates, helpful home-related articles and tips, and personal messages from you. Also, consider creating a Business Directory so you become the go-to person for recommendations. Offer to do an annual real estate check-up. When you add value, your clients and other contacts will realize that they are continuously benefiting from your expertise. That builds trust and loyalty, which leads to more referrals. Make a list of the various ways you’ve stayed in touch with your contacts over the past three months. For each communication, ask yourself: “Did I add value?”
4. Use the Right Mix of Contact Methods
These days, there are many ways to stay in touch with your clients, prospects and other important contacts. You can use direct mail, email, phone calls, personal visits, and even social media. Which one of these methods works best for attracting more referrals? Direct mail is ideal for your most valuable contacts – those who are most likely to give you referrals, such as your past clients. A direct mail piece that’s eye-catching, highly personalized, and packed with truly valuable information sends an important message. Email is an effective way to stay in touch with prospects. It’s also a great way to send timely messages such as hot new listings, solds in the area, local market news, and more. Chances are, at least some of your clients and prospects are active on Twitter, LinkedIn and Facebook. Do you know how to use social media effectively to attract more referrals? Clearly, you need to get direct mail, email and social media working in tandem. Answer the following questions:
- How am I using direct mail to stay in touch with the contacts that are most likely to give me referrals?
- How am I using email to stay in touch with prospects?
- How am I using social media to support my direct mail and email marketing?
- How am I using phone calls, personal visits, and events?
- Do I know the right mix of these contact strategies, and how to get them working together in the right way?
5. Manage Your Contact Database
There is nothing more important to your business than your contacts. These are your past clients, business contacts (companies in your Business Directory), prospects and other contacts who could potentially recommend you to others. Maintaining your database using a good CRM is essential to attracting more referrals. Your CRM should have the following characteristics at the very least:
- Be easy to use.
- Provide the fields you need to input all important contact information, including birthdays, occupations, household members, property details, original source of contact, referral history, contact groups, past conversations, etc.
- Provide activity plans.
- Include mass email, drip email and email campaign reporting.
- Make it easy to filter and sort your database.
- Have an area to manage all your communications with your contacts.
- Incorporate a calendar and task list.
- Have website lead capture capabilities.
- Sync with Smartphones and,
- Be designed specifically for REALTORS®.
Ideally, it should also be a one-stop-shop for staying-in-touch, building relationships, and managing your day-to-day business. Answer the following questions:
- Is my contact management system up-to-date with all the relevant information on my contacts?
- Can I access the information in my contact management system quickly and easily – and from anywhere?
- Is my contact management system easy-to-use?
- Does my contact management system save me time? (Or is the system cumbersome and time-consuming to use?)
- Does my contact management system help me build relationships with my clients, prospects and other important contacts?
6. Have a “System”
As you can see, you need to communicate regularly with your clients, prospects and other important contacts. You need to make sure you’re sending the right messages, at the right frequency. You need to use the right mix of contact strategies – direct mail, email, social media, telephone calls, personal visits, and events, and direct them to the right contacts. That would all be very difficult, if not impossible, to do and manage if you didn’t have a system. Without an effective system in place, it’s too easy for things to fall through the cracks. Opportunities for more referrals will get missed. Worse, you’ll spend a lot of time – too much time – trying to keep it all under control. With the right system in place, things work better and take less time. Everything is coordinated. Nothing gets missed. As a result, your clients, prospects and other important contacts will increasingly look at you as the REALTOR® to call when they need help. And, you get… More Referrals. More Listings. More Contacts. So what does your system look like? Are you doing too much of the work yourself? Is it too complex because you’re using multiple suppliers and other services? Does your system do everything it needs to do to attract the most referrals?
Hopefully, this Referral Success Guide has helped you think about your referral marketing in a new way. The key to increasing the number of referrals you get is to become a referral-worthy REALTOR®. Let us help you. At Morris Real Estate Marketing Group, The Referral Marketing System does everything described in this success guide – and much, much more. It will help you become top-of-mind with your contacts and the first REALTOR® they think of when they, or someone they know, needs real estate help. The system includes everything you need: direct mail, email, social media, and contact management software. And, the best part is… We Do the Work. You Get the Results! Want to learn more? Click here. Or call us at 1.800.308.6134. Business is good, when you’re referral-worthy!
Watch Our Turnkey Real Estate Referral Marketing System in Action
We offer the only comprehensive turnkey real estate Referral Marketing System on the market today. Watch the video to learn how using The Referral Marketing System leads to more referrals, listings and sales for you.
When you use our turnkey real estate Referral Marketing System, you have access to our exhaustive collection of marketing tools designed and distributed by us to attract more customers while keeping you in touch with your existing base. From supplying eye-catching direct mail newsletter designs, to personalized email templates, to content for your social media postings, we do the hard work for you, making it easier for you to get more referrals, more listings and more results. If you’re ready to get results, contact us today to start your FREE trial of The Referral Marketing System.
Things Every REALTOR®
Must Know About Direct Mail
When it comes to getting more referrals and clients, it pays to get the facts about direct mail.
1. It’s Popular with all Generations
It’s true! In fact, 92% of young adults say they prefer direct mail for making purchasing decisions. And a whopping 73% of all consumers favour direct mail over other advertising methods.
2. It Pays Off Big
Let’s talk ROI.
According to research, businesses that spend on average $167 per person on direct mail earn $2,095; an astounding 1,250% return. As a REALTOR®, that means you get more listings and transactions when you incorporate direct mail into your marketing mix.
3. People Trust it
The tangible nature of direct mail makes it more believable than most other forms of marketing. In fact, 56% of customers say they trust direct mail more. That means you make a high-trust, memorable impact every time you connect with prospects and clients in this way.
4. It reaches people you want to reach
Direct mail has the unique ability of reaching your prospects and clients, guaranteed. It makes it through the front door and, chances are, gets read by the homeowner. If your direct mail piece is strategically-designed and personalized, it also makes a big impact.
5. It makes a personal connection
Next to a phone call or personal visit, no other marketing tactic is as personal as direct mail — especially if the piece is highly personalized. People recognize the extra effort taken to create and send the piece, which is why 70% say direct mail is more personal than the internet. It’s like a handshake!
6. It’s read and enjoyed
Sure, bad direct mail gets tossed in the trash bin.
But eye-catching, well-written and personalized direct mail is welcomed and read.
Consider these facts:
- 98% of consumers bring in their mail the day it’s delivered.
- 77% sort through their mail immediately.
- Consumers spend an average of 30 minutes reading their mail on any given occasion.
- 48% of people retain direct mail for future reference.
- Mail is often placed where it’s seen by everyone in the household.
7. It builds your business
Strategically designed and sent to your best clients and prospects, direct mail:
- Builds your reputation and loyalty amongst your best contacts.
- Keeps you top-of-mind as their go-to REALTOR®.
- Generates more repeat business from past clients.
- Converts more prospects into new listings and sales.
- Grows your referral business, significantly.