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Profit-Building Articles
Rocket ahead with a few of our recent
Successful Home Builders'
Newsletters...
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Getting Better Qualfied, and More Effective, Referrals.
Last week I discussed using testimonials more effectively...
going beyond just asking for a nice letter, to making it easy
for clients to actually give you testimonials, and getting one
that will speak volumes to a future prospect, showing why
you're the one to be building their home.
This week we'll focus the strategies on referrals, so you're not
waiting for the phone to ring, but MAKING the phone ring.
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Better, More Qualified Referrals...Sooner
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Like testimonials, builders live and die by their referrals. For
some, it's the only marketing tool they really use to build their
business.
The problem, however, is most builders leave it up to their clients
to "pass the word around". They never know if their clients are
passing the word around...to whom...and if the potential prospect
will act on the referral.
These are "word-of-mouth" referrals...and NOT a referral system.
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Systematizing Referrals: Putting You in the Driver's Seat
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The farthest most builders will go to 'systematizing' their referrals
is to ask their clients "know anyone else?" or "make sure you pass
my name around."
Now, there's nothing wrong with this...it just doesn't get you the
best, most qualified referrals...quickly. Here's a question: would
you rather have your year booked out after ten phone calls or
twenty...or fifty?
Systematize your referral system with the following strategies:
- Make sure your clients know the type of homes you build. This
may seem common sense...you're building THEM a house -- they
should know the types of homes you build.
Don't assume...you know your homes the best. Make sure, when
you're asking for referrals, to ask if your clients know anyone
looking to build an XXXXX type of house (where XXXXX is your
speciality -- you do have a speciality...a target market, don't you?).
This will go a long way in weeding out non-qualified prospects.
- Don't ask just once. Not everyone builds a home every year...and
times change. Go back to your past clients once or twice a year and
ask again. Just because they didn't know someone in June doesn't
mean they won't know someone in January.
This is especially effective when combined with the next two
strategies.
- Give them something...both your client and your potential
prospects. Don't just ask for referrals, but have something of value
your client can give to the prospect. A checklist for "how to choose
a builder"; a subscription to an appropriate magazine; sample design
plans.
Also, give something to the client in an advance thank you for the
referrals (don't give it to them only if they refer...give it to them
expecting the referral)...movie gift certificates, video rentals, free
pizza night for the family.
(By now, for those of you saying "too expensive". Compare some of
these costs against your time spent drumming up business;
advertising yourself; networking; trying to get leads through your
website. And, finally, if a client is buying a house from you for
hundreds of thousands of dollars...you can add fifty or a hundred
to the price to cover these ideas...I give 'profit making' ideas...not
'profit taking' ones -- I never suggested you had to cover the cost.)
- Use special dates to remind them. Send them something for the
anniversary of their move in date; their wedding anniversary; their
birthday. Whatever...any excuse to thank them for being a client
and ask if they know anyone who would enjoy your services like
they have.
- Finally, reward them! When a referral becomes a client,
immediately send a thank you. A card; fine wine; dinner out. Let
them know how much you appreciate the referral (and the fact they
did a lot of the work for you...)
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Here's to your profitable results!
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