In the last three segments we have talked about making a difference in your numbers in any market by setting up a marketing plan that delivers real value to your sphere. Value means meeting the needs of your sphere and you must have the tools in order to do such. You also must reach the right targets with these tools. In the last segment we talked about converting the leads produced by this value delivery. We will end this series by talking about staying with your prospects, customers and entire sphere for the long-run. This will lead to long-term prospect conversion.
Quick response and follow-up is fine, but what really carries the day is staying with the clients during the process of value delivery. Let’s say you are referring them to a credit score improvement service. It may take six months to get their score where it needs to be. However, if you don’t stay in touch during this time:
• The process will take longer because it is less likely that the prospect will follow as they should. Credit score improvement companies always answer the question “how long will it take?” with “how well will the client follow up?”
• Keep in mind that others will be contacting them at the same time. During the initial period you are the winner with regard to value delivery. But if you don’t stay in touch and someone contacts them five months from now and the score is “ready to go,” you are still going to lose the transaction.
We talk in terms of six months for credit score improvement. However, many take a year to two in order to make the home purchase decision. That means even longer-term follow-up is the key. We understand it is hard to make a phone call every month to every prospect or even a previous customer for a period of two years.
A flyer will not work either. The prospects will stop reading flyers. That is why when I got into the industry thirty years ago, I started writing a newsletter immediately and also published articles. These not only differentiated myself as an expert (no recipes or handy homeowner hints) but it also gave me the ability to send material that would not be thrown away because it is designed to add value (education) rather than plead for business and referrals. The ultimate value is being an expert who can lead them through a more effective decision making process. You must not only be an expert, but market yourself as an expert.
We are not saying that you should start writing a newsletter immediately. That is not a good use of your time. The good news is that there are plenty of services that will provide the content for you. The key is the constant delivery of value tailored to the need of the level of your sphere. For example, the ultimate value for those who are in business is helping them achieve more customers. That is exactly the concept behind The Sales Update you are reading right now. The provider can put themselves in the role of “marketing and sales” mentor instead of sales person.
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With a properly segmented sphere you can see how you are able to target value more effectively. While your business referral sources may receive a sales article and newsletter, prospects may receive a newsletter and article relevant to their situation such as purchasing investment property. Those high up on the prioritization list will perhaps have lunch with you once every quarter or even more frequently. The thousands on the lowest rung of priority may only get an HMTL newsletter every week or monthly/quarterly if print. You can’t have lunch with thousands.
Of course, another tool you must have is a contact management system. This system must allow segmentation by priority. It must have a reminder feature so that you know you must follow up in let’s say six months for those who are in a credit repair program. A simple email program will help you get newsletters out, but a powerful contact management system must do much more. Having a sphere of 3,000 or more will not help you if you have to exist on sticky notes.
Build the sphere, grow the sphere, prioritize the sphere and deliver value targeted to the sphere. If you can do these things to change the numbers, you will change the results dramatically. That is an absolute guarantee because the numbers do not lie.
