If you’re not receiving referrals from your relationship marketing, it may be that you are more focused on the relationship than you are on the marketing. Relationship marketing has loftier goals than transactional marketing. But at the core, the main goal is still to build your business. The benefits of any relationship marketing strategy are higher customer satisfaction, longer-term customer loyalty, valuable customer feedback, and increased word of mouth and advocacy.
But relationship marketing for real estate agents is not the same as it is for a restaurant or a retailer. Customer loyalty and repeat business are not enough in an industry where the average buyer makes only 1 or 2 purchases in a lifetime. While all the other benefits are good, the main goal in relationship marketing for real estate agents is the advocacy. You need your customers to actively promote your services to generate referrals for you.
There needs to be a strong marketing component in your relationship marketing. True, it does need to be done in non-aggressive way, or the benefits of creating the relationship will be offset by the negatives of constantly asking for something. But non-aggressive does not mean non-existent.
Microbusiness marketing consultant Naomi Dunford reminds her small business clients, “Don’t fall so in love with the relationship that you forget about the marketing. Like talking about benefits and not just features. Like having a halfway decent market position. Like a real call to action. Like, you know, selling stuff.”
The “call to action” is the specific instructions you provide to the recipient of your marketing telling them exactly how you want them to react. The more specific, and the more persuasive your call to action, the more likely you’ll receive the results you’re looking for. For example:
Good: “I appreciate your referrals!”
Better: “Please tell anyone you know who might be buying or selling about me!”
Best: “My goal is to help five more people find the home of their dreams before the end of the year. I need your help! Please email at joe@friendlyrealestate.com and introduce me to anyone you know who is even thinking of buying or selling a home this year! I'll provide them a completely free and no-obligation analysis of their options, treat them as a VIP referral, do everything I can to help them accomplish their goals, repay the favor to you in any way I can.”
The first option is a sort of “backhanded” request in passive language, thanking someone in advance for something they may never do. The second option uses active language and gives a specific request but lacks details. The third call to action tells your audience exactly what you want to accomplish, asks for their help, and gives them an easy response mechanism and a promise of VIP treatment. Plus, it incentivizes them with a promise to reciprocate.
For the best results with any marketing tool, be sure you have a bold, clear, and well- thought-out call to action. It will increase your marketing impact and results!