The Most Powerful (Yet Often Forgotten) Marketing Strategy

If you’re looking to launch your real estate business into the stratosphere, you have endless options to choose from.

But, sadly…

Few will get you there. 

There’s billboards, Facebook, Instagram, YouTube, sandwich boards, print advertising, and more. There’s so much you can do to reaffirm your brand (and keep you top-of-mind), but the truth is, so much marketing is completely….

And totally….

Ineffective.

Not only is so much money wasted, so is your incredibly precious time.

If you’ve ever heard of the KISS principle, it’s time to remember it.

K.I.S.S. stands for Keep It Simple, Stupid.

I think you’d agree that it doesn’t take much to completely overcomplicate your marketing strategy.

Just considering your to-do list on any given day, you’re probably overwhelmed with guilt about your limited social media presence or your not-quite-good-enough website.

If you’re looking for a cost-effective and incredibly powerful marketing strategy, I’ll encourage you to KISS, and leverage…

Word of Mouth Marketing.

Yup, that’s right. It’s so incredibly simple, it’s often…and just as easily…forgotten.

To ramp up your real estate business while saving yourself time and money, hone in on these 3 tips for increasing referrals through word of mouth marketing.

But first…

Why Word of Mouth Marketing

Before we get rolling, I want you to understand why Word of Mouth Marketing (WOMM) is so important.

Here’s why.

Because…

75% of people don’t believe advertisements, but 92% believe brand recommendations from their friends.

And…

People are 4X more likely to use your services when referred to by their friends.

Here are 3 Ways You Can Increase Your Word of Mouth Marketing

1. 1. Provide an Incredible Customer Experience

To have your friends and clients signing praises from the rooftops, you need to provide your clients with a stellar experience. Consider your stay in a 3-star hotel, compared with a stay in the Four Seasons or Ritz Carlton. A five-star hotel goes above and beyond to ensure your needs are met.  

The same is true for your customers. While it’s important you attend appointments on time in addition to returning calls and emails promptly, consider the ways you might offer a unique (and five-star level) customer service experience.

The best way to wow your clients is by working to anticipate their needs rather than only responding to them.

Perhaps you can offer monthly statistics reflecting activity in their building or their neighbourhood.  If you drive them, offer to bring coffee or provide a bottle of water.

If you look to give your clients a gift for any transaction, make it personal – showing them you’ve listened to things they’ve shared with you.

1. 2. Develop a Referral Program

If you’re looking to have friends, family, past clients, and your professional sphere send you referrals, it’s best to make it worth their while.

Consider offering a monetary reward for successful referrals. 

While referrals from other agents is often prescribed, there’s nothing wrong with rewarding those (outside of the real estate biz) who send you business.

As an example, Orange Theory Fitness offers $70 off one month’s fitness membership for successful referral signs-ups. Even Tesla provides referrers with 1,500 free Supercharger kilometres and a chance to win a Founders Series Model Y or Roadster supercar.

Some of the biggest and powerful companies know that WOMM is best when the referrer has some benefit too.

1. 3. Collect Testimonials & Reviews

It’s important to make it really easy for your clients to leave raving reviews. After receiving a recommendation from a friend, a google search is the most likely place a prospective client might look.

After any transaction, ask your clients (the ones you’re certain are happy with the service received from you) to write an online review.

While some clients might struggle with what to write, you can help them along by asking them to answer prescribed questions.

If your website doesn’t offer a place for testimonials, take advantage of Google Reviews.

Save yourself time and money by putting your energy towards maximizing your WOMM.

To learn more about opportunities at Westmar, contact us today.