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Power Session 4: Leveraging a Powerful Contact Database
Lead Generation 36:12:3 Power Session 4: Leveraging a Powerful Contact Database
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Power Session 4 In this Power Session … Introduction
The Power of a Database Build a Database Feed It Every Day Communicate with It in a Systematic Way Service All the Leads that Come Your Way Final Thoughts Putting It All Together Page 1
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Introduction Ground Rules Arrive on time. Form groups quickly.
Power Session 4 Ground Rules Arrive on time. Form groups quickly. Limit side conversations. Turn off cell phones and pagers. Be comfortable. Respect time. Respect each other. Help each other. Respect confidentiality. Have fun! Page 3
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Introduction How You Will Learn Learning Methods Manual Classroom
Power Session 4 How You Will Learn Learning Methods Manual Models/Systems Exercises/Discussion Stories Classroom PowerPoint slides KWConnect videos Classmates/Instructor (continued) Page 4
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Accountability Feedback Loop
Introduction Power Session 4 How You Will Learn Accountability Methods Lead Generation Action Plan Accountability Partner/Program 1. Set Goals 2. Do Key Activities 3. Measure Results 4. Evaluate Process 5. Make Adjustments Accountability Feedback Loop Page 4
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Introduction EXERCISE Where You Are Today Time: 10 minutes
Power Session 4 EXERCISE Where You Are Today Lead Generation Activities My aha’s from these activities The most difficult part of these activities What I will do differently in the next 24 hours Time: 10 minutes Page 5
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Introduction Why You Are Here Lead Generation 36:12:3 Course Map
Power Session 4 Why You Are Here You are here! Lead Generation 36:12:3 Course Map Seeing the Light Page 6
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Introduction What Will Make This a Great Training Experience Page 7
Power Session 4 What Will Make This a Great Training Experience Page 7
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The Power of a Database A Record of Your Business Successes Truth
Power Session 4 A Record of Your Business Successes Truth The heart of your business is your database. And the heartbeat of your business is your regular contact with your database. Record contact information from your leads Track your interactions with them Assign them to appropriate marketing plans Page 9
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The Power of a Database A Record of Your Business Successes Truth
Power Session 4 A Record of Your Business Successes Truth When you hear of doctors or lawyers selling their practice, what are they really selling? Their contact database and the relationships they have built with the people in it. Page 9
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The Power of a Database Database Tools 3 x 5 Index Cards
Power Session 4 Database Tools 3 x 5 Index Cards Electronic Spreadsheet Personal Information Manager Database Management System Contact Management System Page 10
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The Power of a Database Database Tools Question Answer
Power Session 4 Database Tools Question Which is the best type of database tool to use? Answer The one that you will actually use – and use systematically! Page 10
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The Power of a Database Obey the Law(s)! The Four Laws
Power Session 4 Obey the Law(s)! The Four Laws 1. Build a database. 2. Feed it every day. 3. Communicate with it in a systematic way. 4. Service all the leads that come your way. Page 11
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1. Build a Database It’s not just the business of servicing clients
Power Session 4 It’s not just the business of servicing clients It’s the business of finding clients to service Truth The size of your real estate business over time will be in direct proportion to the size and quality of your database. Page 13
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1. Build a Database Power Session 4 Where Contacts Come From Page 14
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1. Build a Database Haven’t Mets and Mets Category Group Haven’t Met
Power Session 4 Haven’t Mets and Mets Category Group Haven’t Met General Public Target Group Met Network Group Allied Resources Advocates Core Advocates Page 15
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1. Build a Database Power Session 4 The Types of Business Mets and Haven’t Mets Bring You Mets Haven’t Mets Repeat Referrals New Page 16
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1. Build a Database How large should your database be?
Power Session 4 How large should your database be? Follow the CAMP 4:4:3 model Collect 10 business cards each day You’ll have 2,000 people in 200 working days Page 17
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1. Build a Database Classifying your Haven’t Mets and Mets
Power Session 4 Classifying your Haven’t Mets and Mets Continually move your contacts toward becoming Core Advocates General Public Target Group Network Allied Resources Advocates Core HAVEN’T MET MET (Inner Circles) 20% of your database can lead to 80% of your business! Page 18
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1. Build a Database Building Your Mets Database
Power Session 4 Building Your Mets Database Sources for Building Your Mets Database Family Friends Neighbors Home School People you do personal business with Sports and hobbies Former employers, co-workers, suppliers, customers Organizations Other Page 19
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1. Build a Database EXERCISE Who Knows You Already? Time: 15 minutes
Power Session 4 EXERCISE Who Knows You Already? Listen as the instructor leads you through the exercise. Make a list of the people who come to mind. Time: 15 minutes Page 20
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1. Build a Database Building Your Haven’t Met Database
Power Session 4 Building Your Haven’t Met Database Title Companies – You may want to comarket with them Third Party Vendors – Cost depends on the vendor and the size of mailing Page 21
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2. Feed It Every Day Mets do NOT have to be local!
Power Session 4 Collect 10 business cards Call 5 people Write 15 notes Preview 5 homes Mets do NOT have to be local! Page 23
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2. Feed It Every Day Expanding Your Mets Database
Power Session 4 Expanding Your Mets Database Phone calls and visits with past clients School, church, neighbors, sports/hobbies, community Open Houses Geographic and/or Niche Farms For Sale By Owners Expired Listings Agent-to-Agent Referrals Internet Leads Page 24
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2. Feed It Every Day What to Feed Your Database Their Name
Power Session 4 What to Feed Your Database Their Name Their Home Address Their Home Phone Number Their Address Their Business Card Page 25
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2. Feed It Every Day What to Feed Your Database
Power Session 4 What to Feed Your Database FORD: F – Family, O – Occupation, R – Recreation, D – Dreams helps you determine: Buyer or Seller Their Urgency Their Spouse’s Name Their Personality Profile Their Birthday Their Hobbies/Interests Children Page 26
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2. Feed It Every Day EXERCISE Buyer and Seller Data Time: 15 minutes
Power Session 4 EXERCISE Buyer and Seller Data Break into small groups of four to six people. Your instructor will assign you as either a Buyer or Seller group. Use the checklist on the following page. Discuss how you might use this information. Choose a spokesperson, present your results. Time: 15 minutes Pages 27-28
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2. Feed It Every Day What to Feed Your Database Adding contacts
Power Session 4 What to Feed Your Database Adding contacts When to enter contacts Updating contact info Contact history Page 29
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3. Communicate with It in a Systematic Way
Power Session 4 Put Your Database to Work One Habit The beginning of the 3 hours Identify and prioritize your Lead Generation activities. The end of the 3 hours Update your database. Page 31
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3. Communicate with It in a Systematic Way
Power Session 4 Overview of Systematic Marketing Plans Repeat Business Referral Business New Business Contact Made Geographic/Niche List Created Contact Management Database Mets Haven’t Mets 8 x 8 To Build the Relationship 12 Direct Mail To Create New Relationships 33 Touch To Sustain the Relationship Page 32
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3. Communicate with It in a Systematic Way
Power Session 4 Overview of Systematic Marketing Plans Types of Systematic Marketing Action Plans Haven’t Met 12 Direct – Direct Mail marketing once per month Met 8 x 8 – Cements relationship in eight weeks 33 Touch – Maintains relationship over one-year cycle Page 33
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3. Communicate with It in a Systematic Way
Power Session 4 Overview of Systematic Marketing Plans Truth All three have a common theme: Overkill over Time. Why? Because no matter how much frequent and systematic lead generation is emphasized, most real estate agents still tend to underdo it. Your goal is to “Out-touch” all other agents! Page 33
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3. Communicate with It in a Systematic Way
Power Session 4 The Benefits of Systematization Consistency Predefined Repeatable Automatic Keller Williams Marketing Materials 12 Direct plans 8 x 8 plans for Buyers, Sellers, For Sale By Owners, and Expired Listings Page 34
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3. Communicate with It in a Systematic Way
Power Session 4 Basic 8 x 8 The entry point Applied immediately The 8 x 8 is a combination of: Personal visits Phone calls Items of value (dropped off or sent) A handwritten note Page 35
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3. Communicate with It in a Systematic Way
Power Session 4 Items of Value Facts About Expired Listings Getting Your Home in Top Selling Condition The Home Buying Process Homeowner’s Insurance and Your Credit History How to Buy a Great House Moving Tips & Checklist Packing Checklist Helping Children Cope with the Move Real Estate Glossary Renting vs. Owning Security Tips Seven Real Estate Truths Six Selling Myths Uncovered The Ten Commandments When Applying for a Real Estate Loan Ten Signs It’s Time to Sell Your Home Ten Steps to Selling Your Home Ten Steps to Selling Your Home For-Sale-By-Owner What’s Happening In Our Area? Page 36
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3. Communicate with It in a Systematic Way
Power Session 4 Customized 8 x 8 FSBOs Expired/Withdrawn Listings Follow-up for Prospective Buyers Follow-up for Prospective Sellers My Geographic Farm My Demographic Farm(s) My Sphere of Influence Open House Attendees My Allied Resources Relocations Builders My IVR System captures Page 37
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3. Communicate with It in a Systematic Way
Power Session 4 33 Touch 33 Touch The 33 Touch is a systematic marketing and prospecting technique that ensures year-round contact with all of the prospects, business contacts, and past clients in your contact database. It nurtures your relationship with the contacts in your database and sustains ongoing communication. Page 38
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3. Communicate with It in a Systematic Way
Power Session 4 A 33 Touch consists of: 14 — Mailings, letters, cards, s, or drop-offs 8 — Thank You or Thinking of You cards 3 — Telephone calls 4 — Personal Observance Cards 4 — Holidays 33 — Touches Total Page 38
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3. Communicate with It in a Systematic Way
Power Session 4 Succeeding through a 33 Touch Be Consistent Be Personal Be Long-term Mass Mailing Customized 33 Touch Plans Page 39
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3. Communicate with It in a Systematic Way
Power Session 4 12 Direct 12 Direct A 12 Direct program is a series of direct mail pieces mailed to a targeted Haven’t Met group at the rate of one piece per month over a cycle of twelve months. Page 38
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3. Communicate with It in a Systematic Way
Power Session 4 12 Direct Establish a Personal Presence Host Events Branding versus Junk Mail Maintain a physical presence Too frequent s perceived as spam The most value-add for the recipient as possible Page 40
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3. Communicate with It in a Systematic Way
Power Session 4 Systematizing Your Database Gary and the Box View the Gary and the Box KWConnect video The Technology Trap When technology intended for convenience actually ties us down and steals our time. Ready, Fire, Aim! is better than Ready, Aim, Aim, Aim, Aim … Page 41
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3. Communicate with It in a Systematic Way
Power Session 4 EXERCISE How Much Time Does It Really Take to Manage Your Database? Break into small groups of four to six people. Cut along the dotted lines to create “index cards.” You only need one set of cards per group. Choose a timekeeper. Follow the instructor. Time: 15 minutes Pages 42-46
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3. Communicate with It in a Systematic Way
Power Session 4 Database Duties of an Agent Daily Duties Weekly Duties Monthly Duties Yearly Duties Page 47
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3. Communicate with It in a Systematic Way
Power Session 4 Microsoft Outlook Calendar Contact Information Categories Mail-merge Exporting Information Contact History Action Plans Personal Digital Assistant Page 48
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3. Communicate with It in a Systematic Way
Power Session 4 It’s time to use a Contact Management System What Is a Contact Management System? The Most Popular CMS Programs TOP PRODUCER Online Agent Sharper Agent Agent 2000 Outlook ACT! Page 49
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3. Communicate with It in a Systematic Way
Power Session 4 It’s time to use a Contact Management System Myth I don’t have enough leads to bother with a Contact Management System. Truth Most agents in the growth phase of their career are managing twenty to eighty leads at a time. With just twenty, it’s difficult to keep contact information up to date, as well as scheduling and completing your other lead generation activities. Implementing touch programs without an automated system becomes virtually impossible. Page 49
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3. Communicate with It in a Systematic Way
Power Session 4 The Benefits of Using a CMS Action Plans Marketing Materials Prompts Contact Information Contact History Calendaring and Appointment Scheduling 7. Integration and Automation 8. Lead Sourcing and Tracking 9. Reports 10. Web-based Software 11. Transaction Management Page 50
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3. Communicate with It in a Systematic Way
Power Session 4 The Key to CMS Success Use It! Take Baby Steps Listen to It Page 51
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3. Communicate with It in a Systematic Way
Power Session 4 The Advantages of ProManage Best Pricing Custom Marketing Materials Agent Website Leads Training Dedicated Support Page 52
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3. Communicate with It in a Systematic Way
Power Session 4 Today’s Business in TOP PRODUCER Page 53
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3. Communicate with It in a Systematic Way
Power Session 4 Contact History in TOP PRODUCER Page 54
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3. Communicate with It in a Systematic Way
Power Session 4 Customized Action Plans in TOP PRODUCER How Do You Get TOP PRODUCER for Keller Williams? New Users – Already Using TOP PRODUCER – Page 55
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3. Communicate with It in a Systematic Way
Power Session 4 Don’t Touch That Delete Key! What About Unresponsive Contacts? Put them only on a 12 Direct plan Put them on an -only plan The Millionaire Real Estate Agent Database Page 56
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3. Communicate with It in a Systematic Way
Power Session 4 Opting Out Record their request Stop their plan immediately Get notified immediately Be courteous always! Page 57
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4. Service All the Leads that Come Your Way
Power Session 4 Get on the FAST track Funnel Assign Source Track Page 59
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4. Service All the Leads that Come Your Way
Power Session 4 1. Funneling Leads Lead generation sources bringing in the leads Lead generation sources that convert to business Track whether or not leads are being followed up on Track conversion rates Reward referral sources Page 60
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4. Service All the Leads that Come Your Way
Power Session 4 Unity in Marketing Signs Fliers Ads Direct mail pieces Promotional items Business cards Letters and signatures Website(s) Page 60
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4. Service All the Leads that Come Your Way
Power Session 4 Phones Websites Interactive Voice Response Systems Page 61
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4. Service All the Leads that Come Your Way
Power Session 4 2. Assigning Leads New leads to the proper group in your database New leads to the appropriate marketing action plan And if you have a team … Action plan activities to team members Page 62
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4. Service All the Leads that Come Your Way
Power Session 4 2. Assigning Leads Geographic Farm Name of team member Co-op agent Referring agent Investor Adopted buyer Sphere of influence Past client Page 62
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4. Service All the Leads that Come Your Way
Power Session 4 3. Sourcing Leads Past client referral Agent referral Network, Advocate, Core Advocate, or Allied Resource referral Sign calls Open House Farm FSBO/Expired Listings IVR calls 9. Website 10. Magazine ad calls 11. Newspaper ad calls 12. Newsletter 13. Past client 14. Just Sold cards 15. Sponsorship Page 63
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4. Service All the Leads that Come Your Way
Power Session 4 4. Tracking Leads Lead follow-up Leads per source Ratio of Leads to closed business Page 64
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4. Service All the Leads that Come Your Way
Power Session 4 4. Tracking Leads Lead Follow-Up Leads per Source Ratio of Leads to Closed Business Page 64
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Final Thoughts 1. Build a database. 2. Feed it every day.
Power Session 4 1. Build a database. 2. Feed it every day. 3. Communicate with it in a systematic way. 4. Service all the leads that come your way. Page 65
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Putting It All Together
Power Session 4 Power Session Aha’s Your Lead Generation Action Plan Pages 67-68
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Putting It All Together
Power Session 4 The 3-Hour Habit Time block 3 hours every workday before noon. No skipping. If you must erase, then you must replace. Allow no interruptions (unless they truly are emergencies). Pages 69-70
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Thank You for Being Here!
Don’t forget your evaluations!
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