The holy grail for teams is organic business. Too many team leaders are spending a fortune on leads with very low return on investment.
The holy grail for teams is organic business. Too many team leaders are spending a fortune on leads with a meager 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.
The solution to this is found in four simple hacks to get each team member to contribute by driving organic business.
Hack one: Develop a Book of 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 to driving consistent profitability is to turn the Sphere of Influence into a Book of Business. This is done by systematically driving loyalty and 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, on the other hand, are relationships that transcend the transaction. There is regular value provided on an ongoing basis.
Hack two: Develop a B2B strategy.
Think of business to business (B2B) as smart farming. The goal here is to 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, if the relationships are built correctly. Ten to 20 business to business relationships are easy to manage while leveraging the power of the team dynamic.
Hack three: Carve out a niche market.
If an agent has a connection or history with education, focus them on marketing to teachers. If they have a family member in law enforcement, they can market to the local sheriff and police departments. There are dozens of possibilities from contractors to attorneys. We have a dozen different sample campaigns that we are happy to share with you for free. Just send us a message, and we will send them over.
Hack four: Focus on only one prospecting method.
Prospecting needs to fit the agent’s personality to be sustainable. To 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? If the agent is an aggressive extrovert, they tend to thrive on door knocking, cold calling and farming. If the agent is a passive extrovert, open houses and networking events are where they should focus. If the agent is an active introvert, expireds and FSBO’s are a sweet spot. For those who are passive introverts, you will see them give you the highest conversion rates for inbound internet and advertising leads.
These four hacks amplify the synergy and healthy inter-dependence on the team through increased specialization. They also drive team loyalty and profitability. Organic business is the holy grail for both the team member and the team leader in both profitability and sustainability.