All this talk about relationship marketing! Well what exactly is it and why should you care?
Relationship marketing is a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions. As a practice, relationship marketing differs from other forms of marketing in that it recognizes the long term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages. Thank you Wikipedia!
Think about how much you learn about buyers as you escort them to see 20 homes over the course of say, four weekends in a row. By the time you execute and reach the closing table you feel like family! Sellers too. You are getting to know each other intimately as you advise them, help stage their home, take photos, discuss offers and finally close.
Now haven’t you already been engaged in relationship marketing since the dawn of your real estate career?! Sure you have! You can’t have a successful transaction without getting to know your clients, and them getting to know and trust you. It’s the essence of being a REALTOR®. When a client tracks you down because they are now ready to sell the home you helped them buy three years ago… tell me they don’t feel “long term value” in your relationship. And by track you down I mean they had to search for by name on the internet because you failed to keep in touch.
We have established your actions exhibit relationship marketing, but do your marketing initiatives?
By having a ‘how can I help and support my customer while sharing my true self’ approach when you design your postcards, write drip emails, eNewsletter articles, website copy and blog posts you are communicating to them you are interested in a long-term, mutually satisfying exchange. This gentler, more personalized perspective regarding your marketing fosters rich, meaningful experiences for you and your clients.
If you look for it, you’ll see a few excellent examples of REALTORS® employing relationship marketing. So many others fall back on the either more aggressive or self-promotion strategies. It’s not hard to make the transition, simply translate what you are already doing in person to what you do and say online or through direct-mail.
Here are a few relationship marketing suggestions:
- Share your interests and make a connection with those you have something in common with.
- Write a personal note to a customer or client on their birthday, anniversary or just to say “Hi”.
- Pay attention and get to know your buyer/seller’s emotional needs and satisfy them.
We specialize in helping REALTORS® identify their brand and gain control of their marketing so they can build and maintain long-lasting client relationships. Reach out when you are ready to make this important marketing transition!