How To Set Up A Video Referral Marketing Campaign That Spits Out Referrals & Repeat Business

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1 How To Set Up A Video Referral Marketing Campaign That Spits Out Referrals & Repeat Business 1

2 The Key To Long Lasting Referral & Repeat Business Lead Generation Before we get started here s something to think about Have you ever thought about where the majority of real estate agent business comes from? Did you know that roughly 46% of all real estate agent business is generated from referrals? Do you have marketing systems in place that encourage referrals for your business? How much of your marketing budget do you spend on referral- based marketing? How much time do you spend marketing for referrals and repeat business? After reading this in its entirety, you are going to see how you can turn your relationships into an audience that sends you endless referrals and repeat business. Video marketing is one of three channels I recommend using when implementing a consistent referral marketing campaign. Are You Up For The Challenge? Our business revolves around consistent lead generation. Marketing systems based on referral creation are ESSENTIAL for being successful in the real estate business. Inputting ALL of your relationships and your past clients into your database and marketing them consistently encourages referral & repeat business. In order to understand why you should invest in marketing your database, you must first understand the value of relationships. The Value Of Your List 2

3 Your relationships are what will get your real estate business to start generating direct sales and referrals quickly! Real estate is a belly- to- belly business and most consumers tend to hire agents they know personally or are referred to. Buying or selling real estate is a big deal and consumers want someone they trust and LIKE! If you want to avoid the peaks and valleys in real estate, pay attention to the principles outlined here. If you don t have many relationships, then you may be in the wrong business. It s no surprise that agents with best networking abilities often are the ones with the most sales. The key to building a successful real estate business based upon referrals and repeat business is to have many relationships that you can systematically market to. When you collectively market all of your relationships, they become your AUDIENCE. You will not build a solid referral and repeat business practice without creating an audience. Referral marketing is about building an audience out of your current relationships and keeping your name in front of that audience so that you are thought of when real estate comes to mind. If you market your audience consistently, you will be more likely to get their business and referrals when the opportunity comes. This is not rocket science. It really is that simple. Let s Break Down Why Your Relationships Are Worth $20,000+ 3

4 In the Chicagoland area, where I am located, the average time someone lives in their home differs in the city limits than in the suburbs. In the suburbs, the average person lives in their home for 6-9 years. In the city, the average person lives in their home for 3-5 years. Regardless of the time a person lives in their property, the average person will buy 3-5 properties in their lifetime. If each person you know buys 3 houses at an average sales price of $250,000 that equates to roughly $18, in total potential commissions just from a single relationship. How much does it cost to market that relationship through over the course of time? The ROI is insane. What is the average time someone remains in their house before they move in your market? WHAT!!!! Now, I ask you again, how much are each one of your relationships worth to you? If you do not have a system in place to stay in front of your audience consistently, the chances of them forgetting about you when the time comes to buy or sell a property increase. They will also forget to refer you to anyone they know who may need your services as well. People buy real estate from people they like People USE agents they like, but also remember! The direct sales you get from marketing to your audience are only the tip of the iceberg. The key is programming them to refer you business! Using a video based marketing system is one of three ways to encourage referrals and repeat business. Step 1: Building Your List Many gurus out there tell you to build your database in very complex ways and rate each relationship in a priority type of way, but I never saw the point in that. My view is that any relationship is worth marketing to with because it s so inexpensive. Some people on your list may never refer you business while others will refer you more than you think. 4

5 You want to create your list full of qualified relationships that you would either invite to your wedding or funeral. marketing for referrals and repeat business only works when the person you are marketing to likes and knows you. It is about quality of relationship you have with your audience. Your audience should consist of everyone with whom you know or they know of you. The best way to build this list is to export all of your contacts in whatever service you generally use. You then want to go through all of those contacts and extract everyone you believe to have a relationship with. If you don t know them, then don t put them in your list. Keep it simple and do not overthink this. You want to save all of these s in a CSV spreadsheet so you can upload them to your video based service once your list is complete. What Kind Of Marketing Service? The service we use is called BOMBBOMB. We have a relationship marketing manager CRM set up that incorporates BOMBBOMB in it, but you can also sign up directly at their site, BombBomb is a video based service that is the BOMB for Realtors. It does everything you want it to and is very simple to use. I won t go into all the details on how it works as they can show you on their site if you decide to sign up. Each time you broadcast an to your audience, it should not take you more than minutes. 5

6 Why Not This Other Service? I do not believe in the template e- mail marketing that so many of the CRM s have available today. Template marketing is a set of pre- designed s that certain CRM s automate for you. They are very generic, un- personable, and your audience can tell they are not authentic. The subject lines and content of the template programs are very generic and they lack a personal touch. This is where video differentiates itself. The open rates on a templated are low and feel more like spam to your audience. This is exactly what you do not want your s to be interpreted as. It s great that a service like that can be automated, but don t forget the point of sending an in the first place. It should be to stay on top of mind and nurture your relationship with the recipient. When they need your services or have a referral you will know. We are always playing the long game in our referral marketing efforts by keeping our goal with our marketing simple remain on top of mind. Do not go out and purchase an list and think that it is going to turn into gold. People don t like to read cold s since so many people are bombarded with spam daily. The national average for open rates on is 13%. Using video based marketing I am consistently seeing a 35%- 55% open rate. This means that 35%- 55% of the people on my list are actually opening my s. The reason my open rates are high is because of the quality of my list, creative subject lines I use, and the interesting content I share with my audience (video based). This is only possible because I personally broadcast and type out every that is sent out! This is exactly why you will want to do the same in all of your marketing efforts. Let s talk about when to send out s to your list. Monthly s Follow this exact schedule of how frequent to your relationships. I send out messages to my relationship list at least 1-2 times a month. Remember the 6

7 fact that you are appearing on video already makes you an expert or authority figure to some degree. For some reason when someone is seen on video, it reinforces the fact that they are an authority on that subject. Think about the last video you watched online about anything. If it was informational, I bet that your perception of whoever was speaking was that they were an authority. People TRUST authority figures. There is never a shortage of real estate news that you can comment on. Things such as interest rates, foreclosures, and state of the market are always good ones. Keep up with your real estate news so the next time you see something interesting in the world of real estate, you can create a video on it. It also does not have to necessarily be about real estate. It can be something going on in your community. Here are some examples of newsworthy topics that you could plan over a year s time; New restaurant, attraction, or building going up in your community Local sports teams Something real estate related on a national level like interest rates and what it means if they go up How to sell a house fast with an online marketing plan The importance of market time when listing a house How to use pictures and videos the right way How to properly position a house for sale correctly Home selling closing costs Why you should hire an agent when buying a property The home buying process How to establish a comfortable purchase price Home ownership tax deductions Understand the process of elimination when house hunting Buyer closing costs Home inspection tips How to sell and buy a house at the same time 7

8 These are just a couple of topics you can talk about on video with your s. I usually like to accompany a video with a blog article if I am sending them content. The list doesn t end, here be creative! TIP: When using video marketing you need to show that you are the expert. Don t be a robot and show your personality. You must remember that 60% of all communication is based on tone. 30% is based on body language. 10% is based on your actual content or what you say. This should be done a minimum of once a month,which gives you at least 12 touches a year. If you wanted to do twice a month I would love that, but I like to mix in personal holiday touches. Holiday Video Messages I also suggest sending out holiday video greetings. These videos should be much more personable and not geared towards real estate. Think of it as sending a hallmark video message wishing them a happy holiday. Look below at some of the creative taglines you can use next to the holidays below. Groundhogs Day- Groundhog didn t see his shadow today but that doesn t mean the Spring market is holding off Valentines Day- I love you for sending me your referrals St. Patty s Day- Everybody needs a day off to drink and eat with friends but unfortunately I m always working April Fools Day- Real Estate is a bad investment NOT 4 th of July- Buying a home is a privilege not a right. This is what our founding fathers fought so hard for Labor Day- While you take the Day off I ll be showing homes, but you deserve it Halloween- Don t be scared to send me your referrals 8

9 Thanksgiving- Thanks for giving me support of my business with you referrals Happy Holidays- this is one to just be you and wish them a happy holiday. That s an additional 9 touches a year. These s should be very simple and cute. The purpose is to wish a happy holiday and be remembered. If you have kids, feel free to shoot the video with them. The purpose of video is to show your human side and nurture your relationship. The most important thing to say at the end of any of these s is to make sure you thank them for their referrals. You must always be referral programming in any marketing you send. Just say something like, and I wanted to thank you for your referrals ahead of time. It s because of you that I am able to strive in this business by sharing my name with your friends, family, and co- workers. This is KEY! Referral Army recap 12 monthly market update video s (minimum) 9 Holiday video Greetings 21 total touches through video per year. There you have it. This is a full annual campaign you can begin implementing right away. The key is staying on course and remaining consistent with it. The more consistent the better the results! I hope that this e- book helped you see how and why you need to establish a video marketing campaign in your business. marketing is one of three channels we recommend using in running an effective referral marketing campaign If you would like more information or training then visit my site at 9