Referral Marketing Helps Your Contacts Refer Leads to You
Referral marketing, based on word-of-mouth recommendations, offers the best advertising possible.Not only is it free, but coming from independent third parties, it is more believable than paid advertising and self-promotion.
Experienced marketers commonly believe that 85% of new business comes from word-of-mouth referrals.
Successful Real Estate Marketing Is About Referrals
Traditional prospecting involves identifying, locating and connecting with potential buyers and sellers.
Referral marketing on
the other hand,
means that prospects are referred to you.Someone else has identified them as potentially good clients for you and recommeded you.
The person making the referral is in effect endorsing you as a good person with whom to do business.
As a result, people who have been referred to you will likely trust you more than they would trust an unreferred stranger.
In calling you, a prospect believes that you can help.
This saves the prospect the time and hassle of investigating many agents.
And because you have been recommended, you don’t have to devote time and money chasing leads and building trust.
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If You Want Referrals, Ask for Them
Asking for referrals is an ongoing process, an essential element of growing your business.As such, it should be an integral component of all of your dealings with clients.
In your early discussions with new clients, let them know that it’s your normal practice to ask satisfied clients for referrals.
They might even be in a position to make referrals at that preliminary stage of the relationship.
At the very least, this will prepare them for your asking for referrals from time to time.
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The Best Time To Ask For Referrals
Certainly there are those spontaneous occasions in which a
client or contact compliments you on your work. What better time to ask for a referral? Go for it.
Follow your normal considerations in asking for referrals and give several business cards to your client or contact.
Effective as making spontaneous requests may be, effective referral marketing generates a consistent flow of new business.
After each transaction has closed, contact your clients to thank them for allowing you to serve them.
Tell them how much you have enjoyed working with them (even if you haven’t).
Acknowledge that they probably know other people like them who are planning on selling or buying their homes.
Using your own words, ask for referrals.
This post-closing contact is also the ideal time to thank your clients with an appropriate gift.
The best gifts show your appreciation and remind clients of your service.
Make It Easier To Ask For Referrals
Despite the importance of referrals, many people find it difficult to ask for referrals.Others find it easy to ask some people for referrals but find it difficult to ask for referrals consistently.
In either case, the assistance of a coach can be helpful in ovecoming any obstacles that prevent and ongoing flow of referral busines.
If you would like some help with your referral marketing, check out Personalized Achievement Coaching.
This service will provide you with as much or as little coaching help as you need to help generate more referrals.
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To Learn More...
To learn how to generate more referral business, see A Great Source of New Business...Top
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