You’ve Got A Database, Now What?

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Database-MarketingLess than 30% of agents have a database. Yet studies consistently show that agents who have one, and actively stay in touch with their clients make twice as much as than those who don’t.

Seriously?

It might seem crazy, but it’s true. I’ve always thought that was such a fascinating statistic. After all, your database is usually filled with people who know, like and trust you. They may have done business with you before, and are therefore likely to do business with you again and / or refer you to others. You worked so hard to build those relationships, and to just walk away from the relationship let alone the money, is mind blowing to me.

Yet it happens all the time.

Here’s another statistic that might interest you, for every 100 households that know you, there are 15 potential transactions a year waiting for you. It’s like starting your year with built in business.

Let’s assume that you do have a database, the next question is usually, now what do I do with it? How do I turn this list of names, addresses, emails, etc into something that generates business?

Here are 5 key tips to do just that:

  1. Create a contact plan: All those names don’t mean a thing if they don’t hear from you. A multi layered plan is best. Think monthly mailers, note cards, phone calls, etc
  2. Keep adding to it: To grow your business you need to be constantly growing your database. Plus people drop off from time to time.
  3. Create multiple databases: There is your regular database, and then your is your hot / warm list. Those people who are most likely to do business sooner vs later.
  4. Work your warm list: Consistency, momentum, and success are all found in your warm list. Create a system to make sure clients don’t fall through the cracks.
  5. Know that it will never be perfect: A database is always evolving. It’s about helping you create contacts that turn into transactions. Progress, not perfection.

Taking time to work on your database can seem tedious, but it is one of the best things that you can do for your business.

There are sales in there just waiting to happen, if you would just reach out.

To your success!
Nicole

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