This article shares the four hacks to driving more organic business. Inman News published the article by Chris Pollinger.
Do you want to have your team drive more organic business? Here’s where to start.
The holy grail for teams is organic business. Too many team leaders are spending a fortune on leads with very low return on investment. Advertising, while necessary, quickly eats into profit margins. The team leader often finds themselves on the edge of burnout. Wondering if they actually made more money with less effort when they were working alone.
These four hacks get each team member to contribute by driving organic business.
Each person on your team has a group of people in their Sphere of Influence. Those people represent the best types of clients. There isn’t the same competition in this arena as in other forms of marketing or prospecting. The statistics on our lack of follow-up with this group, as an industry, are dismal.
The key in driving consistent profitability is to transform the Sphere of Influence. Upgrade it into a Book of Business. This happens systematically when consistently driving loyalty. Treating people as clients vs customers. Customers are those we work with on a transactional basis. Once the deal is done, so is the relationship and the value we bring to one another. Clients, are relationships which transcend the transaction. There is regular value provided on an ongoing basis.
Hack Two: Have them develop a B2B strategy.
Think of business to business (B2B) as smart farming. Build relationships with other local business owners who are in a service business. They understand the power of referrals. They are influencers in the community. The return on these types of relationships is an average of four referrals a year. But only if the relationships are correctly built. Ten to twenty B2B relationships are easy to manage while maximizing ROI.
Hack Three: Have them carve out a niche market.
If an agent has a connection or history with education, focus them on marketing to teachers. Is there a family member in law enforcement? Then have them market to the local sheriff and police departments. There are dozens of possibilities from contractors to attorneys. We have a dozen different sample campaigns in our members downloads section.
Hack Four: Have them focus on only one prospecting method.
Learn from our 25 years of experience. It’s the key to our leading tens of thousands of agents to higher productivity. Prospecting needs to fit the agent’s personality to be sustainable. How do you guide an agent to their highest and best prospecting return on time? There are only two questions that really matter. The first, are they an extrovert or an introvert? The second, are they aggressive or more passive? When the agent is an aggressive extrovert, they tend to thrive on door knocking and farming. When the agent is a passive extrovert, open houses and networking are effective. If the agent is an active introvert, expireds and FSBO’s are a sweet spot. The secret to passive introverts? They give you the highest conversion rates for inbound internet and advertising leads.
These four hacks amplify the synergy of your team. Foster healthy inter-dependence in your organization through increased specialization. This also drives team loyalty and profitability. Organic business is the holy grail for both profitability and sustainability.
