For all sales professionals, clients/customers tend to fall into two categories: those that will offer referrals, or become professional referral sources, or those that an actual transaction has been completed.  Both are important to a sales pros’ business and each have specific attributes. 

Where does your client/customer rate?

As each transaction is finished, the file closed and review completed, it is your job to categorize those clients into their potential for future business.  Utilizing the A,B,C method is efficient and effective.

“C” clients are those who will likely have only one transaction.  In the mortgage business, “C”’s have probably purchased their last home.  “C”’s are not likely to be a good referral source for future business.  However, like any client, the known potential is never obvious and it is prudent to offer a minimum of eight mailings a year.  The key is to keep your contact information in front of them, allowing them to feel “serviced”. 

“B” clients were enthusiastic about the service they received and have a likely potential to be purchasing again.  “B”’s seem to be connected to enough people that referrals are a good possibility.  This group should receive the same eight mailings that the “C”’s receive along with at least two phone calls.  The personal contact gives you an opportunity to explore changes in their lives or their family’s. Should these changes be significant, a face to face meeting may be warranted and reasonable.

“A” clients are highly connected, and likely interested in buying additional real estate in the future.  The potential in “A” clients is high and should receive the most attention.  Along with the mailings and frequent phone calls (at least one per quarter), creating opportunities to meet face to face with them on a regular basis is significant.  The possibilities that exist with these clients as referral sources and repeat buyers is high and should receive at least 80% of your marketing allocation.  “A”s and “B”s are the meat and potatoes of your business and have the probability of returning repeat business. Only 20% of marketing effort should be allocated to “C” clients.

The Cluster Approach

“A”s and possibly “B”s tend to be highly connected.  Often, they hang out with others in the same economic categories, have similar interests, hobbies and needs and frequently refer their friends when they have had good results with products or services.  Investigate the possibilities reaching out to surrounding contacts of the “A” and “B” clients.

The Rule of 250

The average wedding invites an average of 250 people.  Consider that most people know at least 250 people that they have contact with on a semi-regular basis…..friends, family, businesses they frequent, services they use, etc.  If one client knows 250 people, that could become potentially 62,000 people who could use your services.  If 100 of those 250 contacts provided 3-5 referrals, that could mean 300-500 new leads for your business in one year.  What would 300-500 leads in one year mean to your business?

Creating opportunities to be in front of potential clients will expand those prospects.  Develop seminars and speaking events that put you in front of the “A”s and “B”s.  Utilize a Real Estate Investor’s Forum** to expand your client contact.

SHOULD ALL CLIENTS BE TREATED AS EQUALS?

Touching the client has long been a marketing mantra.  Although true, spending your time, money and energy with those that provide the greatest return will create the greatest economic return.  Creating a relationship with those whom you enjoy being around offers far more opportunities than generalizing a mass marketing approach.  Minimal marketing will not bring a minimal client back to life.  Mailing alone is not ‘touching’ the client.  Phone calls will create favorable circumstances to see your highly connected clients on a personal level.  Build those physical contacts for perpetual and sustainable business.

FINAL THOUGHTS

Lack of time is the eternal excuse for not staying in touch with clients.  However, it takes more time and money to create new relationships than it does to cultivate those that have already completed a business transaction.  Remember the Rule of 250 and the potential it creates.  Using this rule allows your past clients to become an extension of your sales force.

Look at your current marketing plan and begin to categorize clients into “A”, “B”, and “C” opportunities.  Look for reasons to be face to face with your best prospects, including public speaking and Real Estate Investor Forums**.  Create the opportunities that will expand your business.

**Real Estate Investor’s Forum is copyrighted by Summit Champions, Inc.  Go to www. Summitchampions.com for more information on creating a local forum.

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