How to Drive Massive Referrals

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R&R of the Unique Customer Experience

The term rest and recovery (R&R) isn’t all that different in the referral and repeat business world. We often times must slow down to speed up when it comes to spending time with our new clients. We must educate them on the process they are about to go through along with the exact type of clients we look to do business with (like them). Once we deliver on the service we should also ask for their repeat business and the business of those in their networks who fit our filter. Over 90% of people do not follow-up with past clients or simply do not ask for referrals. This is why we are so big into R&R and slowing down to speed up.

Your “Unique” Customer Experience

This week we tackle the unique customer experience. The challenge with this topic is almost all salespeople, or businesses, have overused and underdone words when describing their services. Words like unique, system, and differentiation are thrown around loosely.

As entrepreneurs, the easiest way to measure whether our services are valued is through referrals and repeat business. We get paid based on the RESULTS we deliver to our clients. The definition we use for referability is when great people tell other great people how great we are. There’s really no other combination that works. This is why we are so big on having an opportunity filter of the people we choose to do business with in the first place.

Let’s revisit Part IV of our opportunity statement which is “how you do it different?” This is your FREE PRIZE. These are the intangibles you bring to every customer or deal.

Examples of a “Free Prize” based on your unique past (experiences/education/struggles)

  • Master negotiator
  • Protect your clients from emotional decisions
  • True educator of the real estate process
  • Get on the inside of where the action is
  • Quick to diagnose the pain/potential of clients wants/needs

We all have some type of unique ability we bring through our services. The challenge is most people simply haven’t done the heavy-lifting to discover their free prize or haven’t taken the time to truly package it. What systematic process do you offer your clients that they simply cannot get anywhere else?

Transactional or Transformational

I believe the agents who win in today’s saturated, competitive markets are those who are in the transformation business. This is where client comes to you one way (confused, scared, nervous) but your services help them leave in an entirely different state of mind (clarity, at ease, calmness, empowered, educated).

Too many agents are in the transaction business meaning as soon as the deal is over their services are discarded. The number one reason agents don’t get referrals from past clients is because the buyer/seller couldn’t remember their name. It’s astonishing that after making one of the “biggest decisions” in a person’s life that the customer can’t remember their agents name six months down the road. This is why we teach a 90-day onboarding system along with our promoter and advocate touches each day.

90-Day Onboarding

I believe every agent should have a 90-day onboarding process to turn new clients to promoters or advocates who feed us those 5.7 additional deals throughout the lifetime of the partnership.

Most agents windshield shop. Meaning they are already onto the next client before the current one has even hit the closing table. They “discard” their own clients rather than asking for more business or even testimonials right away.

We define a “new client” as someone who has done business with you within a 90-day cycle. They aren’t a new client until the they have bought or sold the house in our system. We define it this way because up until that point you were simply doing your job.

During the 90-days following the deal being closed, you should have at least seven personal touches with your new client to turn them into either a promoter or an advocate.

During the actual service part of the process (finding or selling the house) we need to slow down on the front-end to speed-up on the back-end. Spend more quality time with your clients from the very beginning getting to know more about them and their specific trigger buttons. Speak their “love language” so you know what motivates them or what they are looking for in a relationship. We should then use this information during the 90-day onboarding process for personalized touches, gifts, or gestures.

Exercise: What system do you currently have in place for your new clients to get NEW business from them in the form or referrals or repeat business?