As you start to plan for 2010, remember to focus a portion of your planning time on defining your Lead Generation Systems. In my career as a real estate broker and leader I have found there are two key lead generation systems that must be in place and running smoothly for there to be a high probability of success. The first lead generation system is called a Stay-in-Touch System. This system must have a balance of selling and marketing activities that are focused on your Sphere of Influence (SOI). Your SOI includes your friends, family, past clients, and referral partners. You want to make sure you are staying in touch with this group of people a minimum of three times per month with one of those contacts being a face to face appointment, phone call, or an e-dialogue.
The goal of this system is to build TRUST and grow your relationship with this group of supporters resulting in repeat business and referrals. You must never take this group of people for granted and assume that you will always get business from them. Treat them with respect, ask for referrals, and demonstrate consistent value to them.
The second lead generation system is called a New Relationships System. This system also must have a healthy balance of selling and marketing activities. The goal of this system is to bring you potential new clients and qualified prospects. These leads can come through a variety of sources ranging from target niche websites to target marketing campaigns to social networking. The system must be measurable and get you in front of as many new people as possible.
Don’t be fooled into thinking that you can always be working By Referral Only. You must be adding new people to your database every month that do not come from referrals. In real estate, many agents suffered tremendously over the past three years because they focused only on their past clients and referral partners while not spending enough time developing new relationships. When the market turned, business dropped, and the amount of referrals from Stay-in-Touch Systems aimed at SOI diminished. Many brokers were unprepared and lacked the skills to effectively develop new relationships with people they did not know.
Remember, both of these Lead Generation Systems require you to know the difference between selling and marketing activities and act accordingly. You will achieve a higher probability of success when you follow-up your marketing activities with selling activities.
If you need help building your lead generation systems for 2010 please contact me. If you would like to know more about the difference between marketing and selling activities, click here.
I’d love to learn more about your business and how we can make 2010 a success for you.
What are the key elements of your Stay-in-Touch System and your New Relationship System?
Make it a great day!