Before you try a strategy or do something for a client, do you give it the "WIIFM" test?
"WIIFM" stands for "What's In It For Me?"
You have to look at how something will be perceived by your client. Is it something that makes you look good or does it benefit the client? Is it obvious to the client that it benefits them?
Here is a great way to restructure your marketing and advertising dollars from just being expenses to putting your systems into profit mode.
Write down every strategy you used this year that was an expense to your real estate business.
The goal here is two-fold: (1) to provide value to your clients and (2) to do it at little or ZERO cost to you.
As you look at each item, determine the amount of money you spent on it and how much income did it bring you. Did you lose money on it, break even or make a profit?
Don't do strategies just because your clients want you to do them...if they aren't effective and increasing your business.
During this time of year, agents are often solicited to buy music CDs, calendars, pens, magnets, etc. You need to determine if these items are really keeping your name in front of your clients.
How many homes have you shown, where the refrigerator magnet was not of the agent who has the home listed?
If you want to revamp your business and focus on your clients, try brainstorming and really think about "WIIFM" - What's In It For Me (your client). Everybody, us included, is always thinking about our own needs first. So, think about what you can give to your clients that will be of value to them.
Here's one idea I just started using myself:
The www.lowesrealtorbenefits.com program.
Your client receives a periodic e-newsletter from Lowe's with your contact info on it...you can have Lowe's send a 10% off coupon to your client...you can buy discounted gift cards.
So before you add a strategy to your business system, see if it passes the "WIIFM" test.
Write down every strategy you used this year that was an expense to your real estate business.
The goal here is two-fold: (1) to provide value to your clients and (2) to do it at little or ZERO cost to you.
As you look at each item, determine the amount of money you spent on it and how much income did it bring you. Did you lose money on it, break even or make a profit?
Don't do strategies just because your clients want you to do them...if they aren't effective and increasing your business.
During this time of year, agents are often solicited to buy music CDs, calendars, pens, magnets, etc. You need to determine if these items are really keeping your name in front of your clients.
How many homes have you shown, where the refrigerator magnet was not of the agent who has the home listed?
If you want to revamp your business and focus on your clients, try brainstorming and really think about "WIIFM" - What's In It For Me (your client). Everybody, us included, is always thinking about our own needs first. So, think about what you can give to your clients that will be of value to them.
Here's one idea I just started using myself:
The www.lowesrealtorbenefits.com program.
Your client receives a periodic e-newsletter from Lowe's with your contact info on it...you can have Lowe's send a 10% off coupon to your client...you can buy discounted gift cards.
So before you add a strategy to your business system, see if it passes the "WIIFM" test.
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