Wednesday, March 22, 2006

Creating Customers for Life

A lot of this we've all read before, but it's nice to take a minute and refocus. The point of this article is that to build customers for life, you need to focus on the client, not the end result...

RISMEDIA, March 22, 2006—Fostering a client for life goes far beyond marketing plans, print ads, or postcard drip campaigns. Like any long-term relationship, a basis for mutual respect, trust, and honesty must be formed through repeated demonstrations of goodwill and promises kept. iSucceed Mentor and client retention expert Diana Ivas, of Hinsdale, IL, has managed hundreds of repeat clients for decades, some of whom she’s helped buy and sell over ten homes a piece.

Creating a lifetime client from the very first day always begins with a meaningful first impression. Diana’s years of experience have taught her that buyers and sellers are especially sensitive to canned dialogues or disingenuous presentations, and she offers a few tips here, “Dig deep with questions. Find the motivations and commonalities. Be genuine, upfront, and honest; and learn how to entertain your clients without coming off as a phony.” It’s a tightrope walk, finding just the right balance between objective counselor and controlling party, but the level of detail Diana is able to unearth from her prospective customers

The long-term relationship is the ultimate goal, but Diana makes a conscious choice not to dwell too much on the end result of her daily activities. She’s made a clear commitment to remain focused on the client of the moment, especially when the time comes to negotiate price. She remarks, “Most Realtors I know would admit that when it comes to negotiating the deal, they just want it done. And while that may be the gut reaction, I choose to focus on the process rather than the results.” That focus has also allowed Diana to keep a mindset of service in lieu of profit. She explains, “Excellent service generates repeat business – that’s the first thing. The second goal with client retention is to dominate mindshare: when people in your market are thinking about buying or selling a home, yours must be the first name that comes to mind.” Building and maintaining that reputation for quality, enjoyable service keeps Diana motivated from sunup to sundown.

The real challenge for Diana is to effectively communicate on a regular basis with her repeat customers in such a way that doesn’t come off as hokey or contrived. “I really pride myself on the depth of relationship I try to create with each and every one of my clients,” Diana explains. “You must be sympathetic to people’s needs. With a big database, this can be a challenge, but with the right systems in place, you can do it in a meaningful, personal way.” Diana’s personal touch is nearly legendary in her market – from letter-writing campaigns to personalized closing gifts to special events and impromptu visits to her clients’ homes comes an annual sales volume of more than $40 million.

Twenty-year real estate sales veteran Diana Ivas of Hinsdale, IL, has served the suburbs west of metro Chicago since 1986, averaging annual sales in excess of $40 million plus, due in large part to a balanced partnership with her husband, Chuck. When it comes to client retention, no other local Realtor tops the Ivas team – over 60% of their business comes from repeat clients and their referrals. They each play to each other’s strengths, with Diana handling the marketing and buyer’s agent management, and Chuck focusing on the financial and administrative tasks. Diana has been the recipient of a bevy of RE/MAX awards, including the Lifetime Achievement Award, Hall of Fame, Platinum Club, Chairman's Club and Northern Illinois Top 10.

Monday, March 20, 2006

Think Search Marketing is New for Real Estate Agents? Think Again

A recent report shows that almost half of local keywords purchased online are purchased by real estate agents. The fact is, advertising online works, and thousands of agents are doing it. Here are some exerpts from a report on Inman News today:

Complying with the dictum, "Follow the money" (or at least the consumers), real estate advertising now comprises half of the local advertising on search engines, according to a report released this month.

Paid search ads for individual local real estate agents account for 49.6 percent of listings on keyword searches for local business segments across 10 different cities, up from 17.5 percent of local search ads 18 months ago, according to Borrell Associates' "2006 Local Search Advertising" report.

Local advertisers now occupy a third of sponsored links in search-engine results, according to the report, and many on city-related keywords.

The Borrell report predicts that paid search advertising by local advertisers will more than double this year to $987 million, and nearly double again in 2007.

Local agents' search ads jumped from 17.5 percent of all local search ads 18 months ago, to 23.9 percent a year later, the report said.

Search ads for the keyword "mortgage" comprised 25.1 percent of listings on keyword searches, the report said. According to the report, the highest bids in terms of amount paid per click were for DUI attorneys, mortgages and real estate.

According to the March 2005 report, local agents occupy almost half of all search advertisements, and not just in big cities, either. "In Des Moines, half of the advertisements on the Google and Yahoo results pages for 'Des Moines real estate' are being placed by local agents bidding as much as $3 per click," the report said.

Matt Shaw, an agent with Coldwell Banker Mid-America Group in Des Moines, told researchers he estimates as much as half of his total advertising budget is spent on search-engine advertising, and an additional 20 percent on other forms of online marketing. "It's paid off," Shaw said, according to the study.

The report tracked more than 2,000 online search ads on Yahoo! and Google and also compiled the predictions of 400 so-called ad experts. One of the reports' more interesting predictions: "More than three-fourths of the Borrell panel agrees that within the next five years, yellow pages books will evolve into directories of local Web site addresses. Eighty-five percent of respondents think this will happen within five years."