BUSINESS OWNERS KNOW THE IMPORTANCE OF LEAD GENERATING.
I think what gets folks frustrated in lead generating is when they’re not sure what to do, and they haven’t developed a plan for measuring whether what they are doing is effective. This is especially true in real estate.
The time between transactions in real estate is an average of 9 years. That’s a long time to nurture a relationship. It’s especially long when you consider that 87% of real estate agents aren’t in the business after 5 years.
Now, I could tell you all the reasons why you need to nurture those relationships (and you should), but when I look at the research, it becomes clear that there is more of a need to generate new leads than there is to nurture 9 years through to the next transaction. I’m a fierce advocate of that nurture process; I think it’s what makes the 13% that stay in the business so successful. But again, it’s just not the reality of the industry. So…let’s split the baby on this one.
WHAT IF YOU COULD NURTURE AND LEAD GENERATE AT THE SAME TIME?
What if, instead of looking at past client as closed and done, they became a champion for you in the marketplace and a referral source for you? Sounds great, but how do you do that?
When I look at my business priorities (using the GPS), database is one of those priorities. I want to continue to seek business from that database, but I also want to remember to ask for business from my database – in a way that adds to my database (new prospects).
Here’s the trouble that I see though…
We’re not specific enough about who we’re looking for. “Do you know anyone who is looking to buy or sell real estate?” is a tired, old way of thinking. It’s yesterday’s approach. There is a better way.
As story-based creatures, humans tell the narrative of our lives through story. Think about how you learn nearly anything – it’s through story. Even math problems are conveyed through story…
“Train A leaves the station at 9:15am from Chicago travelling at 55 MPH…”
SO HOW DO YOU TELL A STORY IN A WAY THAT GETS YOU REFERRALS?
In my RAMP UP program, we talk about identifying the “Ideal Client.” This is your perfect client, the one you want to help, the one you are best equipped to help. Once you identify who that person is, you go around telling the story of how you help that person. For example…
If I told you that I was looking for someone who needs dental care…who comes to mind?
Everyone – and therefore no one.
What if I told you I was looking for moms with kids under 12 years old? Did someone come to mind?
I ask because I have a dental practice that specializes in children’s dental care. My office is perfect for young kids. It’s so cool! Kids love it and you should see it! And we have an awesome lounge area for moms to relax in while the kids get their teeth cleaned. Do you know any moms that I could reach out to?
The story establishes connection and it informs the person you’re talking to about how they can best help you. People love to help other people – it makes them feel good, but they can’t help you if you don’t inform them on how they can best help you. Be specific.
Once you’ve identified who you’re best suited to help, you start finding ways to tell that story. You’ll tell the story of who you help, how you help them, and why you want to. Then you lead generate. Your lead generating should tell that story. Your marketing message should show images that would resonate with that audience. The language you use should evoke an emotional response from that person. Your messaging will speak to their pain, their challenges, and their values.
The rest are just tactics. The tactics are what we typically think of when we think of lead generating; the phone calls, text messages, door knocking, social media, and all the other stuff. The ways are many.
To help you, I’ve created a list of lead generating tactics. Be sure to download the list, let the ideas flow, and figure out the best method for you to find your ideal client! Be sure to click here to share this blog on Facebook with your colleagues, business partners, accountability partners, or anyone else that you think could benefit from our comprehensive list!