All of us prefer to do business with someone we know personally or know of through our friends and family- familiarity creates an important element of trust.
This is where referrals come in.
A study by the National Association of Realtors shows that forty-one percent of buyers made deals through an agent referred to them by a friend, neighbor, or relative. So, yes, that is a significant amount of people going by referrals. This is why a referral program should be part of your sales strategy because it can lead to a substantial increase in good leads.
But surprisingly, even though it is such an effective sales tool, most realtors hardly use it to their advantage. One possible reason for this is that running an effective referral program is a bit tricky. It takes time, commitment, and a whole lot of logistics.
But don’t lose heart! There is good news!
Running a Referral Program Is a Lot Easier Than You Think
With a few tricks up your sleeve, you will be able to bring in a continuous flow of referrals and not have to worry about the logistics of the whole operation.
Let’s look at how to do this:
1) Leave your customers happy
The basis of all recommendations and referrals is happy customers. If a customer is not pleased with your services, they will not recommend you to anyone. On the other hand, they may even give you a lot of bad publicity- not something that you want, right?
However, let’s face it, things do not always go as planned, and even with the best intentions, things can go awry.
But, how do you manage a situation like this?
The answer is to end every business deal on a happy note!
As human beings, our recollection of events is significantly impacted by how we interpret what we experience and not our actual experience as a whole. Therefore, ending a business interaction with a memorable and positive experience will help your clients remember you favorably.
A subtle but excellent way to do this is to give them a gift to mark the end of a business transaction. It shows that you value the relationship, their business and look forward to working with them in the future.
However, as you know, gifting involves a whole lot of logistics, and this is where the Eva gifting assistant comes in.
How the Eva Gifting Assistant can help you:
The most brilliant part about the Eva gifting assistant is that it is fully automated. All you have to do is log in and tell it how much you want to spend, and it does the rest for you. It gets in touch with the recipient, finds out their interests and hobbies, selects an exciting and trendy gift, packages it beautifully, and delivers it with a handwritten note to your client.
These personalized gifts are guaranteed to delight and smooth out any negativity in a relationship. It is an excellent way to end any business deal and leave your customer happy!
2) Always stay top of mind
But concluding proceedings on a positive note is not the end – it’s just the beginning. To get referrals, you have to constantly remind your clients that you are around and that they should not forget you. To put it simply, you have to make sure you always stay top of mind.
A great way to accomplish this is through a regular and consistent gifting program. Send your old clients a gift once or twice a year. For example, you could send them a gift on their home purchase anniversary or for Christmas.
This is a subtle but effective way of reminding them to send more business your way.
How the Eva Gifting Assistant can help you:
Yes, the logistics of sending so many clients gifts can be quite mind-numbing, especially if you are handling it all end-to-end, in addition to other responsibilities.
Here is where the magic of the Eva gifting assistant comes in.
Eva can keep track of when and how many times a year you want to send all your clients gifts and do the needful. All you need to do is log into Eva and choose the right plan for your business. It is a one-time investment of your time that will help you reap the benefits year-round. That sounds easy enough, doesn’t it?
3. Nudge them gently into recommending you to their friends and families
Studies show that 91% of buyers will use their agent again or recommend their agent to others.
These figures are reason enough to pump up the volume on your referral program.
Typically, your business would not get referrals unless you ask for them. However, asking can create an awkward situation for both you and your clients.
But happy clients and clients who have you top of mind will automatically recommend you to their friends and family.
Gifts bring goodwill to your clients. Further, gifts are also a subtle way of building a relationship, building trust, and gently nudging your clients to give you a referral (without asking).
Although referrals are only the first step in closing a sale, you will find that the potential client has a heightened level of comfort with you and your services because you are not a perfect stranger.
The early stages of the sales process become much easier because you have been referred by someone they trust.
In this day and age, when brands and businesses make all sorts of inaccurate claims and promises, trust becomes an extremely valuable factor in the whole equation. This is precisely what makes referrals so powerful.
In addition, in the competitive real estate market, referrals become an important part of keeping up a constant stream of inbound business.
So, go ahead and make your clients your ambassadors; you will be surprised at the wonders they can do for your business.
Try Eva today to discover how you can leverage the power of client referrals for your business. The sky is the limit!