mrea admin lead tracking and follow-up
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Millionaire Real Estate Agent
MREA Admin: LeadTracking and Follow-Up
Bryon Ellington
A Course for the Millionaire Real Estate Agent Team
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Preface
MREAADMIN:LEAD TRACKING AND FOLLOW-UP V3.22004KELLERWILLIAMS REALTY,INC. i
Notes
Realtoris a trademark designation of a member of the National Association of Realtors. No person
who is not a member of NAR may use the designation Realtorto refer to themselves.
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Preface
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Acknowledgments
Keller Williams University would like to thank all of the
contributors toMREA Admin: Lead Trackingand Follow-Up. Wewould like to give special thanks to the following contributors:
Gary Keller, Dave Jenks, Jay Papasan
and
The Gary & Nikki Team
The Gentry Group
The Goodlife Team
The Hardie GroupThe McKissack Group
The Scheffe Group
NOTICES
While Keller Williams Realty International (KWRI) has taken due care in the preparation of allcourse materials, we cannot guarantee their accuracy. KWRI makes no warranties eitherexpressed or implied with regard to the information and programs presented in the course or inthis manual.
This manual and any course its used as a part of may contain hypothetical exercises that aredesigned to help you understand how Keller Williams calculates profit sharing contributionsand distributions under the M.O.R.E. System, how Keller Williams determines agentscompensation under the Keller Williams Compensation System, and how other aspects of aKeller Williams Market Centers financial results are determined and evaluated. Any exercisesare entirely hypothetical. They are not intended to enable you to determine how much money
you are likely to make as a Keller Williams Licensee or to predict the amount or range of salesor profits your Market Center is likely to achieve. Keller Williams therefore cautions you not toassume that the results of the exercises bear any relation to the financial performance you canexpect as a Keller Williams Licensee and not to consider or rely on the results of the exercisesin deciding whether to invest in a Keller Williams Market Center. If any part of this notice isunclear, please contact Keller Williams legal department.
Material excerpted fromTheMillionaireReal EstateAgentappears courtesy of The McGraw-Hill
Companies. TheMillionaireReal EstateAgentis copyright 2003 Rellek Publishing PartnersLTD. All rights reserved.
All other materials 2004 Keller Williams Realty Inc. All rights reserved.
Printed September 2007.
No part of this publication and its associated materials may be reproduced or transmitted in anyform or by any means without the prior written permission of Keller Williams Realty Inc.
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Preface
MREAADMIN:LEADTRACKING AND FOLLOW-UP V3.2 2004KELLERWILLIAMS REALTY,INC. iii
TABLE OFCONTENTS
INTRODUCTION TOMREAADMIN:LEADTRACKING ANDFOLLOW-UP.......1
1. Ground Rules 2
2. Why You Are Here 3
3. What You Will Learn 4
4. How You Will Learn 6
CHAPTER1:THEROLE OF THELEADCOORDINATOR.................................7
1. Job Description 8
2. Goal Categories 9
CHAPTER2:MARKETING THETEAMMETHODS......................................11
1. Marketing the Team Concept 12
2. Advertisement 13
3. Direct Mail 25
4. Gifts and Promotional Items 29
5. Sponsorship 33
6. Elements of Marketing 36
CHAPTER3:MARKETING THETEAMSTRATEGIES...................................53
1. Contact Management 54
2. Set up Your Database 56
3. Feed Your Database 61
4. Systematically Market to Your Database 64
5. Maintain Your Database 77
CHAPTER4:LEADMANAGEMENTFUNNEL..............................................82
1. F.A.S.T. Leads 83
2. Funnel Leads 84
3. Phones 87
4. Internet 93
CHAPTER5:LEADMANAGEMENTASSIGN ................................................97
1. Assign Leads 98
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2. Buyer Leads 99
3. Seller Leads 103
4. Lead Assignment 105
CHAPTER6:LEADMANAGEMENTSOURCE.............................................108
1. Source Leads 109
2. Referrals 112
3. Analysis of Lead Sources 114
CHAPTER7:LEADMANAGEMENTTRACK...............................................118
1. Track Leads 119
2. Lead Follow-up 120
3. Referral Rewarding Tracking 122
CHAPTER8:PUTTING ITALLTOGETHER..................................................128
1. What Have You Learned? 129
APPENDIX ..................................................................................................131
1. Path to the 7thLevel 132
2. Job Task List 133
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Introduction
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MREAADMIN :LEADTRACKING AN D FOLLOW -UP
Introduction toMREA Admin:Lead Tracking
and Follow-Up
In this chapter, you will
[ 1] Describe the Ground Rules for this class
[ 2] Identify why you are here
[ 3] Identify what you will learn[ 4] Identify how you will learn
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Introduction
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Ground Rules1. Arrive to class on time and return promptly from breaks.
2. Move quickly when you are instructed to form small groups or partnerwith someone to role play.
3. Limit your side conversations.
4. Turn your cell phones and pages to vibrate or OFF.
5. Feel free to stand and walk around if you find yourself getting tired.
6. Accept the reality of time and participation.
7. Respect the different learning styles and opinions of others.
8. Help each other learn because none of us is as smart as all of us workingtogether to improve our skills and knowledge.
9. Consider everything we discuss confidential. What is discussed and role-played behind closed doors stays behind closed doors.
10. Have Fun!
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Introduction
MREAADMIN:LEAD TRACKING AND FOLLOW-UP V3.22004KELLERWILLIAMS REALTY,INC. 3
Why You Are Here
Goal for the class:
To give team members the knowledgenecessary to create marketing and leadmanagement systems that supportmillionaire-level production
What do you want to learn from this class?
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Introduction
MREAADMIN:LEAD TRACKING AND FOLLOW-UP V3.22004KELLERWILLIAMS REALTY,INC. 4
What You Will Learn
About MREA Business Systems
TheMillionaireReal EstateAgentcourses were created to help you and your teamdesign and implement business systems that will increase your productivity.
From lead generation to lead conversion, post-closing to managing the office,the systems you put into place will dictate the efficiency of your team.
The courses in the MREA curriculum present a comprehensive set of systemsto improve and maintain key elements of your business. Used in conjunctionwith theMREA: Operations Manualand theMREA: Scripts Catalogs, the MREAcourses will train each member of your team on how to design and implementthe systems that affect their particular duties. Once they are trained on thesesystems, you can easily incorporate the distinctive elements of your team andlocal market, such as marketing messages and customer services.
Many of the ideas and systems presented in these courses will be a completeparadigm shift for you and your team. The goal is to train your team to gofrom an entrepreneurial mindset to a purposeful one (E to P). This shift ismeant to change you and your teams way of thinking from that of a salescareer to that of a real estate business. If you are in the process of buildingyour team, these courses will show you how to leverage others to get the jobdone better than you ever could have alone.
Integrating any one of these systems may necessitate changes in currentprocedures. However, exercise caution in implementing excessive amounts ofchange in your business too quickly. Trying to completely rearrange manyfacets of your business all at once can have disastrous effects on yourproductivity. These changes should come about incrementally over time. Forbest results, use the 4-1-1 to plan out a progressive incorporation of thesesystems into your business. And after implementing any changes to yourbusiness, you should always play Red Light, Green Light to hold those changesaccountable and determine their effect on your teams productivity.
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Introduction
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What You Will Learn
MREA Admin: Lead Trackingand Follow-Up
Outline
Chapter Topics
1. The Role ofthe LeadCoordinator
a. Job Description
b. Goal Categories
2. Marketing the
Team Methods
a. Understand your role in getting the teams marketing message out.
b. Advertise the team through various publications, the Internet, and signage.
c. Market the team through direct mail to your various target audiences.
d. Market the team through gifts for referrals and promotional items.
e. Sponsor local charities and organizations to build relationships in your farm.
f. Set up systems to maintain the elements of your marketing.
3. Marketing theTeam Strategies
a. Learn about contact management
b. Discover how to set up your database
c. Learn how to feed your database.
d. Learn how to systematically market to your database.
e. Discover how to properly maintain your database.
4. Lead
Management Funnel
a. Understand the elements of a F.A.S.T. lead management system.
b. Enumerate the benefits of funneling leads through a single point of entry.
c. Understand how to handle phone calls leads.d. Understand how to handle Internet leads.
5. LeadManagement Assign
a. Understand how buyer leads are assigned.
b. Understand how seller leads are assigned.
6. LeadManagement Source
a. Document your teams various lead sources.
b. Document referring contacts and agents, so they can be properly compensated.
c. Analyze your cost per lead for each of your lead generation sources.
7. LeadManagement Track
a. Understand how lead tracking reveals the effectiveness of your teams leadmanagement systems.
b. Implement lead follow-up systems to make sure leads are properly handled.
c. Track referrals through the various steps of the real estate transaction to properlyreward referring contacts and agents.
8. Putting It AllTogether
a. Summarize what you have learned in this course.
b. Create an Action Plan.
You are h
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Introduction
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How You Will Learn
Get ready for some action-oriented training!
In Order to Learn and Succeed, You Will:
1. Participatein large group interactive lecturettes.
2. Participatein small group discussions and exercises.
3. Observeyour instructor as he/ she demonstrates the desired skills andbehaviors.
4. Rate yourselfon a report card at the end of each chapter.
5. Problem solveusing case studies and applying what you learn to yourown situation.
6. Create an action planat the end of the class.
Are you ready to learn how to implement systems?
Are you ready to design and implement your systems
for marketing and lead management?
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The Role of the Lead Coordinator Chapter 1
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MREAADMIN :LEADTRACKING AN D FOLLOW -UP
Chapter 1: TheRole of the LeadCoordinator
In this chapter, you will
[ 1] Review the job description of the Lead
Coordinator
[ 2] Identify the key goal categories
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The Role of the Lead Coordinator Chapter 1
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Job DescriptionThe Lead Coordinator handles the entry and routing of leads for the team. The
job responsibilities of the Lead Coordinator are:1. Maintains contact database by receiving leads from the team, sourcing
the leads, assigning them for follow up, and then entering them forongoing tracking.
2. Responsible for tracking and rewarding referrals.
3. Maintains the file of testimonials.
4. Provides lead follow-up tracking, appointments, and conversions reportsto the Lead Specialists and Team Leader.
For more detail on these functions, see the job task listing in the appendix.
Some of the
activities covered
in this course ma
not be listed as
part of your job
description;
however, you will
be helping to
support the
responsible team
members to mak
sure these
activities get don
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Goal Categories
The 80/20 Rule
The Principle of Least Effort
Truth
There is a pattern of predictable imbalance in life. It is called the80/ 20 Principle.
Discovery
Vilfredo Pareto (1848-1923) an Italian economist discovered the patternunderlying the 80/ 20 principle in 1906. While studying patterns of wealth andincome in 19thCentury England, Pareto found that most wealth went to aminority of the people.
-The80/ 20 Principleby Richard Koch
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Doing a lot of
things is never a
substitute for doin
the right things.
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Goal Categories
The job description of the Lead Coordinator is both the single point of entryfor team leads and assistant to the Marketing and Administrative Manager. Thekey goals of the Lead Coordinator are:
1. Create, Document, Implement, and Manage the Following Systems:a. Lead Funneling System
b. Lead Assignment System
c. Lead Sourcing System
d. Lead Tracking System
e. Referral Tracking and Rewarding System
f. Marketing Tracking System
2. Ensure the provision of exceptional Customer Service
3. Learning
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Marketing the Team Methods Chapter 2
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MREAADMIN :LEADTRACKING AN D FOLLOW -UP
Chapter 2:Marketing theTeam Methods
In this chapter, you will
[ 1] Understand your role in getting the teams
marketing message out.
[ 2] Advertise the team through variouspublications, the Internet, and signage.
[ 3] Market the team through direct mail to your
various target audiences.
[ 4] Market the team through gifts for referrals
and promotional items.
[ 5] Sponsor local charities and organizations to
build relationships in your farm.
[ 6] Set up systems to maintain the elements of
your marketing.
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Marketing the Team Methods Chapter 2
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Marketing the TeamConcept
Getting the Team Word Out
Buyers buy homes; sellers buy image. Therefore, your marketing will focus ontwo general areas: 1) marketing the listings and 2) marketing the team.
Your Mega Agent will be in charge of crafting marketing messages for bothareas. Once those messages have been created, the Listing Manager on theteam will be in charge of getting the marketing materials for your listings out tothe public. As the Lead Coordinator for you team, one of your responsibilities
will be supporting getting the team marketing messages out.
Marketing the team will help you to attract sellers and move you to the numberone position in the minds of consumers, so when they think of real estate, theythink of your team. This is done through a variety of methods. You will focusprimarily on the following four:
1. Advertisement
2. Direct Mail
3. Gifts and Promotional Items4. Sponsorships
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Marketing the Team Methods Chapter 2
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Advertisement
Print Ads
Ad Publications
You will market the team in several print publications. These publicationsinclude:
1. Homes magazines
2. Realtor/ professional magazines
3. Newspapers
4. Newsletters for organizations and allied resources5. __________________________________________
6. __________________________________________
7. __________________________________________
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Advertisement
Print Ads (continued)
Placing the Ads
When your Mega Agent has crafted a new team ad, they will hand it over to youfor publication.
Before you send it
Before you send a marketing piece off to a publication for publishing, makesure that you check the following:
Spelling Punctuation Consistency
o fonto logoo colors (if applicable)
Contact informationo phone numbero addresso emailo websiteo fax
Call to action Photo is attached Information (team stats, etc.) is correct/ updated
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Advertisement
Print Ads (continued)
Before they publish it
When your Mega gives you the ad, mail it to the ad department of thepublication. Make sure that you request that the publication send you a copy oftheir publication when it is printed. Proof the ad for any errors, and follow upas necessary.
Also, you will need to check with the publication to make sure that the ad isplaced in the agreed upon location.
After they publish it
You will need to have the publisher send you a copy of their publication after it
is published to make certain that the ad is correct. If there are any errors, youmust bring them to the attention of both the publisher and your Mega.
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Advertisement
The Internet
According to the National Association of Realtors, since 2001, the Internethas surpassed newspapers as an information source used in the home searchprocess. Your team may take advantage of Internet consumers by advertisingthe team website(s) on the Internet itself. The goal of your Internet advertisingis to drive traffic to your site and to get that traffic to register on your websitefor some service or information. That information is then sent back to yourteam for lead follow-up.
The Team Website
More and more people are going online to find the information they needabout buying and selling a home. Internet consumers spend more money andtend to take less time and effort from an agent in getting their home purchased.This is why it is so important to get in front of these consumers.
The following items are features of your website that you will be responsiblefor updating as needed:
Property search
Ninety-three percent of Internet real estate consumers go online to search for
homes. Therefore, your team website should have an IDX/VOW propertysearch feature, so your consumers can go to your site to find their next homes.
The property search function of your website is fed and updated by your localMLS (multiple listing service). Although you wont actually have to update thisinformation, you will be responsible for making sure that the link is alwaysactive. This means checking it regularly to make sure it is operational, and itmeans making sure that the MLS service is paid if the link is not free. Be sureto calendar necessary payments and link-checking in your contact managementsoftware (CMS), which we will discuss later.
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Advertisement
The Internet (continued)
Team information
Make sure that your team is featured on your website using a Meet the Teampage. Give a brief description of each team member, including what their roleis in servicing the needs of the customer. Be sure to include a photo of eachteam member. Keep this team information current with respect to awards,training, and accreditations. This should be checked for accuracy on a monthlybasis and should be calendared in your CMS.
Neighborhood/community information
If your team features information about neighborhoods in your geographicfarms, you will need to update this on a consistent basis. The easiest way to do
this is to ask the neighborhoods homeowners association to allow you toreprint their newsletter on your site or to link to their site if they have one.
Additionally, you may consider obtaining a newspaper that lists upcomingevents and posting those events on your site. Most major cities haveperiodicals that list community events for the entire city. If they have a site,your Mega may consider linking to it, as long as no other Realtorsare linkedthere. If you cannot link to their site or they do not have one, you can take themajor events and list them on your site.
You should set a weekly calendar reminder to update the information on yoursite.
Buyer and seller information
If you feature buyer and seller reports on your site, make sure that these reportsare updated with accurate information. Realtytimes.com and Inman.com areboth real estate news sites from which you can obtain all sorts of informationabout the real estate industry that you may wish to relay to your clients via yourwebsite. Set a monthly calendar reminder to update your reports.
Allied vendor information
Your allied vendor information will need to be updated on a regular basis.Make sure that you have their correct contact information and update your sitewith any specials that your clients are entitled to through your vendors. Thiscan be done on either a monthly or quarterly basis.
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Advertisement
The Internet (continued)
Buying Effective Domain Names
One of the hallmarks of any popular Internet site is its URL, or domain name.And since different domain names appeal to different audiences, having morethan one domain name that all point to the same site is a good way to generatetraffic to your website.
To choose domain names that consumers will remember, generate a list of 20or more potential domain names that leverage the three key elements of greatdomain names:
Simplicity
Since 41% of consumers try to guess the URL, keep your domain name simple.The most memorable domain names are composed of 1-4 words, 2-22characters long.
Credibility
Data from the eMarketing industry has shown that different consumersrespond to different domain names. It is a good idea to buy the team name asoneof the domain names (i.e., TheGreatHomeTeam.com) that point to yoursite, especially for those consumers who can only remember your team name.However, this should not be the only domain name for your site. Domain
names have come down drastically in price (as low as $5.00 per name per year),and you can point as many domain names as you want all at one site.
Consider site names that address specific questions and issues that buyers andsellers often have (e.g., WhatsMyHomeWorth.com, BostonHomeServices.com,etc.). Individuals who find your site as part of the results of a search enginequery may not find your team name as credible as something likeCharlestonPremiereHomes.com.
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Advertisement
The Internet (continued)
Keyword in URL
The more your domain name reflects the nature of your site, the easier it is forconsumers to remember it. The name of your site should answer theconsumers question, What am I going to this website for? Include the cityor neighborhood name combined with real estate-related terms (i.e.,DenverHomes.com, MileHighHomes.com, etc.).
Once you have a list of domain names, go to GoDaddy.com, and see which areavailable. Dont be afraid to register multiple domain names and redirect them
to the same website. Instructions for purchasing and redirecting domain namesare available on the KW Support Site athttp:/ / support.kw.com.
Marketing Your Site
The most effective method of getting your domain name in consumers mindsis to put iteverywhere. Every piece of marketing that you createincluding youremail signature, email auto-response, newsletters, voicemail message, yard signs,business cards, and letterhead should have your website address on it.
And dont underestimate the power of referraleven to your website. Thethird most popular method for finding a website is word of mouth. Askeveryone you know to visit your website and give you feedback. Offerincentives for people to visit your site, such as vendor coupons or a prizedrawing for those who offer you feedback.
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Advertisement
The Internet (continued)
Search Engines
Page title
Open any website and you will see a page title in the very top left-hand corner.Search Engines look at these page titles to see if they match the key words theirusers have entered as a search. If your page title is The Great Home Teamand consumers are looking up Colorado homes, all things being equal, yourenot going to do well in the search placement.
Meta tags
Meta tags are used by search engines to determine whether or not your websitematches particular searches. When someone goes to Google and entersAustin homes, all things being equal, those websites with Austin homes asa meta tag will be given higher placement than those with only homes orAustin, TX. If you have a KW Agent Website, enter all relevant phrases intheMeta Tag Keywordsfield underEdit Site Info(on the KW Intranet,underMy Information,My Web Site). If you are using a third-party hostedsite, make sure that they allow you to create Meta tags.
Also, be sure to enter a good description of your site in theMeta TagDescription field. This description will show up under your Web site link in asearch result on a search engine. It will help consumers distinguish viable
search matches from the rest.
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Advertisement
The Internet (continued)
Keywords in text
In addition to searching for keywords in your Meta tags, search engines alsolook to see how many times those key words are repeated in the text of yoursite. For instance, if a consumer typed in a search for New Jersey homes, andyou had several articles on your site with those keywordssuch as Homes inNew Jersey, Steps to Buying a Home in New Jersey, New Jersey HomeBuilders, etc.then, all things being equal, you would do well in the searchplacement.
To find those keywords that are used most often in searches relating to yourwebsite, check out Overtures Search Term Suggestion Tool athttp:/ / inventory.overture.com/ d/searchinventory/ suggestion/. This toolallows you to input keyword phrases that you think might be popular. The tool
then tells you how many times people entered that and related search phrasesinto search engines in the previous month. This is extremely useful indetermining which keywords you want to bid on for pay-per-click and paid-forsponsorship solutions.
Site popularity (Cross-linking)
PageRank is one of the factors calculated by search engines like Google todetermine a websites ranking in search results. A webpage is assigned anumerical PageRank value based on how many inbound and outbound links ithas.
One of the easiest ways to increase your websites ranking in search results is tocross-link your site to affiliated vendors websites. It will build your referralbusiness and offer all of your vendors additional exposure to Internetconsumers and to search engines.
NOTE:If you aregoingto link to a vendors sitefromyour website, you should betheonlyreal estateagent that your vendors link to on their sites. If they featureother agents sites ontheir site, do not put their link on yours.
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Advertisement
The Internet (continued)
Paid Placement
There are two categories of paid placement:
1. Pay-per-click
This allows you to select keywords that you think consumers would useto get to your site (for instance, Atlanta homes). You then bid howmuch per click you will pay for that keyword. The higher you bid, thehigher you get in the search listings for that particular keyword. Youonly have to pay when consumers click through the search engine to goto your site. This is a very effective way of being listed high in theresults, but it can be very expensive for certain keywords.
2. Paid-for sponsorshipThis is based on keywords, as well. However, paying for sponsorshipallows you to purchase advertising space that is listed above (Yahoo!) orto the right of the search results (Google). When you pay forsponsorship, you are guaranteed to show up for those keywords you paidfor. Where you show up in the order of sponsored ads depends uponhow much you paid and how often people are clicking through thesearch engine to your site.
Search Engine Optimization
If you dont feel comfortable with the more technical aspects of search engineplacement there are several companies that can help you optimize your site.Should you choose to go with a third-party vendor for your website solution,make sure that they offer basic optimization tools that will help you with thingslike changing Meta Tags, summaries, keywords, page and site titles, and otheraspects of your site for higher placement in relevant searches.
If you are considering paying for search engine placement, you should readSearch Engines: What You Need to Know and Nothing More on the KWIntranet (login is at the bottom of www.kw.com) under Research Projects ontheResourcespage.
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Advertisement
The Internet (continued)
Community/Index Sites
Another effective way of promoting your team, your listings, and your site is tooffer your expertise to community sites (a.k.a., index sites). Community sitesare websites that feature a wide variety of community informationmovietimes, local restaurants, community events, etc. Some of these sites may allowyou to cross-link to and even advertise on their site to provide their customerswith real estate content (free reports, property searching, etc.).
While national index sites (e.g., Citysearch.com) and large local sites (e.g.,
newspaper classified sites) allow several Realtorsto advertise on them,smaller local index sites may be willing to feature you as their exclusive
Realtor, as long as you explain your value proposition to them clearly.
Your Value Proposition to an index site is simply this: you are a professionalreal estate team that attracts a steady stream of new customers by marketingand prospecting to a wide audience. In addition to providing real estatecontent to their site by cross-linking yours to theirs, your marketing efforts willhelp to generate traffic to their site and thereby increase their sponsorshiprevenues.
Also, advertising a local index site on your marketing material gives you morecredibility in the eyes of the consumer. It also gives the consumers additionalcontent areas that help to ensure repeat exposure to your teams marketingmessage.
There are many sites to advertise on:
1. Citysearch.com (www.yourcity.citysearch.com)
2. Evite.com
3. Local job sites (sometimes hosted by local newspaper; e.g.,www.austinclassifieds.com)
4. Company websites (locally based companies who use your teamsrelocation services)
5. Community organization sites
6. Homeowner Association/Neighborhood sites
7. ________________________________________________
8. ________________________________________________
9. ________________________________________________
10. ________________________________________________
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Advertisement
Tracking Advertising
Team Advertising Publications
Use the Team Advertising Publications spreadsheet to keep track of all thecosts associated with your teams advertisingthis includes Internetadvertising. If your team places an ad in a particular publication on a regularbasis, calendar the ad in your CMS for the next occurrence. Make sure that youset the reminder far enough in advance that you have sufficient time forpreparation.
Tracking Internet advertising
1. Under Team Advertisement Title list the keyword (e.g., AustinHomes) you are using for pay-per-click or paid-for sponsorship or thewebsite URL that is being optimized (in the example below, PPC isused to denote pay-per-click).
2. Under Team Publication Title list the name of the search engine (e.g.,Google, etc.) you are using for pay-per-clicks/paid-for sponsorship orthe name of the search engine optimization company your team is using.
3. For pay-per-click, make sure to include your pay-per-click rate underCost.
A sample Team Advertising Publications spreadsheet is provided on pg.1 of theSample Forms Packet.
(continued on next page)
You should set a
maximum dollar
amount with the
search engine ho
for your pay-per-
click ads. This w
prevent you from
exceeding your
lead generat ion
budget. Docume
this on the Team
Advertising
Publications
spreadsheet und
Cost.
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Direct Mail
Farming
Direct Mail Pieces
Your Mega Agent and Buyer and Listing Specialists market and prospect agiven geographic area and demographic populations that are referred torespectively as your geographic and demographic (sometimes called people)farms. You will help to market your team to your farms by sending severalpieces of marketing to them, such as:
1. Just Sold postcards
2. Seasonal/Holiday cards
3. Special event (community events) cards
4. Newsletters
5. Quarterly market updates
6. ____________________________
7. ____________________________
8. ____________________________
Sending Direct Mail
Your Mega will create your teams direct mail marketing material or contract athird-party vendor to do so. When you are given a piece of direct mail:
Be sure it includes:o Team nameo Team contact information (address, phone number, and email address)o Team website URLo A quick reminder and instructions on how to give you referral businesso The teams USP (Unique Selling Proposition)o A call to action (e.g., Call today for your free report on )
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Direct Mail
Farming (continued)
Send it to the printer.
Make sure that the printer sends you a proof before printing the entireorder. If there are any errors in the proof, bring them to the attention ofboth your Mega and the printer. Repeat proofing process as needed.
If your printer also handles mailing, they need to be told where to mail thepieces and the date of mailing.
Bulk mail companies and some printers have their own list of addresses forgiven areas. If you are purchasing a mailing list, check with your localvendors to see who is offering the best rate. If you use a bulk mailcompany, make sure that the printer sends the pieces to the bulk mailvendor. Whoever sends out the piece should send a copy to your team forquality assurance. If there are any errors in the final mailing, bring them to
the attention of both your Mega and the printer.
The pieces should be tracked using the Mailers Spreadsheet. In addition,its a good idea to keep a copy of every mailer that goes out to use whencoming up with future marketing ideas.
Just Sold Postcards
Just Sold cards are postcards sent out to your contacts announcing homes thathave sold and how much they sold for. Because nothing succeeds like success,your team will take every opportunity to capitalize on every success you cannot just on yours, but others successes, as well.
Your team doesnt even have to have sold any homes to send out a Just Soldcard. You just have to know how many homes have sold in a given area eachmonth and what the homes sold for. Another great thing about Just Sold cardsis the fact that they demonstrate your knowledge of real estate in theneighborhood.
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Direct Mail
Farming (continued)
Your teams Listing Specialists will send out Just Sold cards for the homes theysell, but you should also be sending out Just Sold cards once a month detailing
the number of homes that sold, the average selling price, etc. When creating aJust Listed/ Just Sold card:
1. Your Mega Agent will tell you the types of information to include onyour cards.
2. Check your MLS to find out how many homes have sold in yourgeographic farming area, what those homes sold for, square footage, etc.
3. Enter the data into your Just Sold card template and attach any photosbefore you mail the template to the printers that make your card.
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Direct Mail
Tracking Direct Mail
Mailer Spreadsheet
The Mailer Spreadsheet is for tracking the cost of your direct mail marketing.Keeping track of the cost associated with your direct mail will allow you to laterdetermine the cost of leads from those sources of lead generation. If your teamsends a particular marketing piece out on a regular basis, calendar the piece inyour CMS for the next occurrence. Make sure that you set the reminder farenough in advance that you have sufficient time for preparation.
A sample Mailer Spreadsheet is provided on pg. 2 of the Sample Forms Packet.
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Gifts and PromotionalItems
Gifts
The intent of your marketing is to consistently touch your target audience tocreate, not only repeat business, but referrals, as well. And once one of yourcontacts begins to advocate your team, you want to encourage this byrewarding their behavior.
You must be systematic in your approach to rewarding a referral. There are
three things to keep in mind when it comes to doing this:1. Treat the referral source even better than the referral.
2. Show your appreciation at every stage of the transaction: interview,consultation, contract, and closing. The important thing is that youreward them right away, so that they repeat the behavior soon.
3. Reward the right behavior. Your contacts arent in the business ofscreening clients before they refer them to youthe act of referral iswhat should be meaningfully rewarded. That is what you want them todo again and again.
See Lead
Management:
Track for
instructions as to
when to send
referral gifts.
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Gifts and Promotional Items
Promotional Items
Promotional items are a good way to keep the teams marketing message infront of your clients on a consistent basis. Depending on the item, your clientsmay see the teams marketing message every time they go to the refrigerator(magnets), have a cup of coffee (mugs), or perform other daily activities.
When and to whom you give promotional gifts will vary. Generally speaking,you will give these gifts during holidays and at major events (sponsorships).Also, your Buyer and Listing Specialists will give promotional items away asthey prospect their farms and databases. Using this type of marketing to addvalue and help massage the act of asking for business is a great way ofprospecting.
When a big promotional eventsuch as a team-sponsored charity raceiscoming up, check with your Mega Agent to find out about the promotionalitem they want to give out to participants. You will need to determine:
1. What item?
2. How many?
3. What marketing message?
4. What is your budget?
(continued on next page)
Always price the
items with at lea
two different
vendors to get th
best price. Chec
the KW Intranet
Marketing Page
under Vendors
for a list of pre-
approved
marketing vendo
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Gifts and Promotional Items
Promotional Items (continued)
Gadgets, Goods, and Gear
What items you use for promotions will vary. The following are all examples ofitems agents have sent to their contacts:
1. Pens (think quality)
2. Mugs (think big and different)
3. Note cubes (with your name and number)
4. Measuring tape
5. Sewing kits, first aid kits, or tool kits
6. Fire extinguishers or smoke detectors
7. Calculators
8. Magnets
9. Refrigerator calendars
10. Clocks
11. Recipe books (create with a team of agents, vendors, and allied resources)
12. Gift certificates (consider gift certificates from companies such asAmazon.com as they are quick and easy to order, and you can send themvia e-mail to save postage)
13. Flowers or plants
14. Wine or champagne
15. Gourmet coffee or tea
16. Pumpkins
17. Christmas cookies or candies
18. Independence Day flags
19. _______________________________________________
20. _______________________________________________
21. _______________________________________________
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Gifts and Promotional Items
Tracking Gifts and Promotional Items
Promotional Items Spreadsheet
You will use the Promotional Item spreadsheet to keep track of all promotionalexpenditures for the month. If a promotional item is ordered on a regularbasis, calendar the item in your CMS, making sure that the reminder is set farenough in advance that you have sufficient time for preparation.
A sample Promotional Item spreadsheet is provided on pg. 3 of the SampleForms Packet.
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Sponsorship
Seeking Sponsorship Opportunities
When marketing the team, make sure that the teams marketing dollars arespent on activities that will reach your target audiences. One easy way oftargeting your geographic farm is to sponsor events held in and around yourfarm area. Most communities have several annual events that require sponsordonations.
Finding local events
To find local events for your team to sponsor:
1. Each Monday, check the local paper for upcoming events in and aroundyour geographic farm.
2. Call schools in and around your geographic farm. Offer to sponsorschool publications, events, and sports.
3. Speak with heads of any organizations or groups in and around yourgeographic farm.
4. Speak with heads of any organizations or groups that your team membersare part of.
Methods of sponsorship
When you find an event, speak with your Mega Agent to find out if your teamwill offer to sponsor it. If your Mega agrees to help with the event, call theorganizing body to offer sponsorship. Depending on the event, your Megamay want to offer:
1. Sponsorship money (in exchange for the positioning in the eventsmarketing materials, such as posters, t-shirts, etc.)
2. Promotional items
3. Marketing
4. Labor (event setup, etc.)
5. Hosting a booth
6. Seminar/Guest speaking (real estate investing, how to buy your firsthome, etc.)
7. _____________________________________
8. _____________________________________
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Sponsorship
Seeking Sponsorship Opportunities (continued)
Sponsoring Organizations
Community involvement is one of the best ways to stand out in your market.Taking an active role in sponsoring, organizing, or even having booths at localevents helps to build relationships, because you are getting involved with thethings that members of the community care about.
Think about the types of organizations that hold regular events that you canhelp to sponsor:
1. Homeowners Associations
2. Neighborhood Watch Groups
3. PTO/ PTA/ School and Districts4. Builders Associations
5. Toastmasters
6. Jaycees or Jaycettes
7. Churches or Synagogues
8. Veterans Association
9. Boy/Girl Scouts
10. Knights of Columbus
11. Chambers of Commerce
12. Rotary Club
13. Home shows
14. Building Industry Associations
15. _____________________________________
16. _____________________________________
17. _____________________________________
18. _____________________________________
19. _____________________________________
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Sponsorship
Tracking Sponsorship Opportunities
Sponsorship Opportunities Spreadsheet
Use the Sponsorship Opportunities spreadsheet to track all of the events andorganizations that the team is sponsoring. If an event your team sponsorsoccurs on a regular basis and your Mega wishes to continue the sponsorship,calendar the event in your CMS for the next occurrence. Make sure that youset the event reminder far enough in advance that you have sufficient time forpreparation.
A sample Sponsorship Opportunities spreadsheet is provided on pg. 4 of theSample Forms Packet.
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Elements of Marketing
The Team Message
As mentioned earlier, your Mega Agent will be the one to design your teamsmarketing messages. Within these messages, your Mega Agent may use certainelements for which you will be responsible:
1. Testimonials
2. Statistics
3. Introduction to the Team
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Elements of Marketing
Testimonials
While telling potential buyers and sellers how successful your team is at findingand selling homes can be effective, when other people brag for you, it lends thestatements more credibility in the eyes of potential clients. That is why youshould include testimonials in several of your teams marketing pieces and inyour Buyer and Seller books, as well.
One of the goals for your team is to exceed the expectations of your customers.The fact that your sellers and buyers will be given more attention from yourteams dedicated specialists means that you will likely have a good percentage ofyour clientele that is so satisfied with their experience that they are willing towrite testimonials about your team for the edification of other potential clients.
To prompt clients to write testimonialsand to improve your teams servicethe teams Satisfaction Survey (seeMREA: Operations Manual) should be sentout to team buyers and sellers no more than one week after closing. Inaddition to asking for feedback in specific areas, the survey contains a place forsatisfied customers to write a brief testimonial for the team.
When you receive a testimonial, Thank You card, or letter praising the teamsservice, give it to the Mega for review. All testimonials that are approved foruse in team marketing by your Mega should be maintained in a Testimonialsfile.
Question
What should a good testimonial contain?
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Elements of Marketing
Testimonials (continued)
Seller-oriented testimonials
Testimonials to be placed in marketing aimed at sellers should includestatements that indicate:
1. The clients home sold quickly.
2. They got all of their asking price.
3. They were impressed by the service.
4. ______________________
5. ______________________
6. ______________________
Buyer-oriented testimonials
Testimonials to be placed in marketing aimed at buyers should includestatements that indicate:
1. The team helped the client find the perfect home quickly.
2. The team negotiated a great price.
3. The transaction went smoothly.
4. They were impressed by the service.
5. ______________________
6. ______________________
7. ______________________
NOTE:It is a good idea to keep a digital photo of thehomeowners (either at their soldhomeor thehomethey just purchased, or oneof each) on filein theteams database. Makesurethat you get a releasefromthehomeowner to usetheir picturein your marketing.
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Elements of Marketing
Testimonials (continued)
Exercise
Design the perfect testimonialDirections:
1. On the next page is an excerpt from the Satisfaction Survey in theMREA: Operations Manual. Write a sample testimonial for your team thatfeatures all of the necessary elements of a good testimonial.
2. You may use this as an example when instructing willing clients on howto write a testimonial for your team.
Time: 15 minutes
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Elements of Marketing
Testimonials (continued)
If your purchasing or selling experience exceeded your expectations, would yoube so kind as to give us a brief testimonial. We would also like your permission
to use this in our advertising and marketing: ______ (please initial).
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Elements of Marketing
Statistics
Teams bring resources to the table that solitary agents are unable to bring. Oneof those things is specialization. Because the team has dedicated ListingSpecialists and Buyer Specialists, you are able to offer sellers better marketingleverage, more buyers to look at their home, and better negotiators. This alltranslates to two things that resonate with sellers:
1. Fewer days on market
2. Higher percentage of asking price.
It will be your responsibility to calculate these numbers for the team and tokeep abreast of these stats for your local market. Ask your Mega how often
youll be updating theses numbers and calendar a recurring reminder in yourCMS to remind you to get them done.
Days on Market
Days on Market (DOM) is the number of total days a given listing has been forsale. By averaging together all of your teams listings days on market, you willget your teams average DOM, which can be part of a powerful message toseller leads. If your teams average DOM is lower than the markets average, ittells potential sellers that your team will sell their home quicker than most.
Check your MLS or your local Board of Realtorsto find out what the averagedays on market is for your area. For the average days on market for each ofyour Listing Specialists you can check the Listing Detail All report for eachspecialist on theReportspage of the KW Intranet (login is at the bottom ofwww.kw.com). To calculate the average days on market for your team, checkthe Listing Detail report for the current year. For each of your ListingSpecialists, take the Average Days On Market for that agent and multiply thatnumber by the Number of Listings that agent has taken (closed and active).When you have done this for all of the Listing Specialists on your team(including the Mega), add these numbers together, and then, divide by the totalnumber of listings taken for the team (closed and active) for the current year.
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Elements of Marketing
Statistics (continued)
Formula
( Average Days on Market for your Mega Agent xNumber of Listings foryour Mega Agent)
+(Average Days on Market for Listing Specialist AxNumber of Listingsfor Listing Specialist A)
+(etc...for each Listing Specialist on the team)
Total Number of Listings of the Team
=Average Days on Market for Team
NOTE:To obtain thenecessary data for this method, you will need thelogin and passwordto theKW Intranet for each of your ListingSpecialists and Mega. Alternatively, yourTransaction Coordinator can record theDays on Market into a DOM field in yourdatabasefor every listingfor theteam. This would enableyou to sort your databaseforDOM, add up all thedays on market for all of your listings, and divideby thetotal numberof listings.
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Elements of Marketing
Statistics (continued)
Percentage of Asking Price
The Percentage of Asking Price represents the amount of money a seller wasable to get for their home at closing as a percentage of how much theyoriginally listed the house at. The higher this percentage is, the more powerfulthis statistic will be as part of your marketing message to potential sellers. Ifthis number is higher than the market average, then seller leads can see that youwill get them more money for their home.
Check your MLS or your local Board of Realtorsto find out what the averagePercentage of Asking Price is for your market. For the average Percentage ofAsking Price for each of your Listing Specialists and your Mega, you can checkthe Listing Detail All report for the Mega and each specialist on theReportspage of the KW Intranet. For each of your Listing Specialists, takethe Average Sale Price for that agent and divide that number by that agentsAverage Original Listing Price. Multiply that number by 100 to yield thatagents percentage of listing price. Multiply the percentage times the totalnumber of listings for that agent. Add this number with the same number foreach of your Listing Specialists. Divide by the total number of listings takenfor your team, and this is your teams average Percentage of Asking Price.
Formula
(((Avg. sale price for your Mega Agent / avg. original listing price for your
Mega Agent) x100)xtotal number of listings taken by your Mega Agent)+ (((Avg. sale price for Listing Specialist A / avg. original listing price forListing Specialist A) x100) xtotal number of listings taken by ListingSpecialist A)
+ (etc...for each Listing Specialist on the team)
Total Number of Listings of the Team
=Average Percentage of Asking Price for Team
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Elements of Marketing
Statistics (continued)
NOTE:To obtain thenecessary data for this method, you will need thelogin and passwordto theKW Intranet for each of your ListingSpecialists. Alternatively, your Transaction
Coordinator should berecordingtheoriginal list price, thecurrent list price, and thesales pricein your databasefor every listingfor theteam. This would enableyou to sort your databasefor salepriceand original list price, add up thetwo figures and dividethetotal salepricebythetotal original list price, and multiply by 100 to determineyour teams PercentageofAskingPrice.
Exercise
What are the stats for this team?
Directions:
Below are some numbers for Listing Specialists on a team. Using the givennumbers, calculate the Average DOM and Percentage of Asking Price for theteam.
Time: 15 minutes
Mega Agent: Cynthia Stout
Listing Specialist: Christopher Robbins
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Elements of Marketing
Statistics (continued)
Listing Specialist: Cindy Who
Listing Specialist: Harold Potter
Average DOM: _______
Average Percentage of Asking Price: _______
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Elements of Marketing
Introduction to the Team
Your team will have several publications, including your team website, thatfeature information about your team members. Several of these publications,including yourBuyer BookandSeller Book, will feature a section entitledIntroduction to the Team. This document will contain two pages ofinformation: 1) Team Resume and 2) Meet the Team.
Team Resume
Your Team Resume will be made up of four elements:
Professional Qualifications
1. Membership in real estate organizations (city, state, and National
Association of Realtors; etc.)
2. Rankings among local, regional, state, and national Realtors(e.g.,
Number one Baltimore Realtorin homes sold 2001, 2002, 2003)
3. Business experience
4. Professional development organization membership (Buffini, Brinton,
etc.)
5. _________________________________________
Professional Designations
1. CRS
2. CRP
3. eAgent (Eagentcs free technology certification)
4. ePRO5. ____________________
6. ____________________
7. ____________________
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Elements of Marketing
Introduction to the Team (continued)
Business Achievements
1. Yearly closed transaction list (you may include production dollars; ex:2003 200 Closed transaction ($32 million))
2. Awards
3. ____________________________
Education
1. Training organization membership (KWU, Floyd Wickman, DaleCarnegie, etc.)
2. Training designations (Blackbelt from KWU, etc)
3. Collegiate degrees
4. ____________________________
5. ____________________________
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Elements of Marketing
Introduction to the Team (continued)
Meet the Team
The Meet the Team page of your Introduction to the Team is where you willactually introduce each of your team members. Personalizing the team withpotential clients is a good way to proactively deal with objections frompotential clients who may think a large team cant provide them personalservice. For each of your team members, you should include:
Photo
Each of your team members should have a digital head shot on file. You willneed to resize all of the photos to the same size using photography software.
NOTE:If possible, you should get all of theteams photos doneby a professional. But atthevery least, all of your Buyer and ListingSpecialists should havetheir head shots doneprofessionally.
Title and Function
You may choose to list the various team members titles. However, it is a must
that you list their function on the team in terms of how each team membersupports the client. Titles such as Transaction Coordinator dont necessarilyconvey to buyers and sellers the value of having such a team member workingfor them.
Biography
Biographies should be a one sentence-long answer to the question, Whats thispersons background? You should mention where they are from and anyhigher education or professional designations they may hold (ex: A native of
Charleston, Cindy settled in Austin after attending UT for a degree inMarketing.).
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Elements of Marketing
Introduction to the Team (continued)
Hobbies
Again this should be one sentence long. List sports, games, recreationalactivities, etc. (ex: She enjoys coaching a little league softball team andrunning.).
Contact informat ion
Listing the contact information for each team member allows sellers and buyerswho are working with the team to get in touch with the appropriate teammember without having to go through several different people and without
having to tie up the main line for the team. Be sure to include team membersdirect lines or extensions and email addresses.
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Elements of Marketing
Marketing Files
In order to document and hone your marketing program, you will need to saveand catalog all of the various elements and pieces of your marketing. Youshould have a separate storage drawer or file cabinet to house all of thismaterial. In it, you will keep:
1. An example of each direct mail piece sent out (Just Listed cards,newsletters, etc.)
2. Your teams testimonials folder
3. Cut outs of magazine and newspaper ads
4. Copies of bills and invoices from publications and other marketing-
related vendors
In addition to the hardcopy material, you will need to organize a digitalMarketing folder on the teams computer network that houses all of thevarious marketing spreadsheets and related materials. In the main folder, youwill have the following sub-folders:
1. Advertising
2. Direct Mail
3. Gifts and Promotional Items
4. Sponsorship
NOTE:You should also createemail sub-folders for all of your various marketingactivitiesin your CMS or email client.
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My Scorecard
Exercise
Directions:
We have reached the end of this chapter! Before we move on, take fiveminutes to assess your mastery of this chapter's objectives.
1. Refer to the My Scorecard sheet located at the back of this manual.
2. Review the topics for this chapter.
3. Grade yourself on your mastery level of each topic (A - F). Be honestwith yourself. At the end of this course, you will use this scorecard toevaluate your weak areas and develop an action plan for completemastery of the subject matter.
Time:5 minutes
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Give an Aha!, Take an Aha!
Exercise
Directions:
1. Look at numbers 1 and 2 below. Think about what concepts you are stillstruggling with. And think about any Aha!s you may have had aboutbeing in the business of lead generation.
2. Your instructor will throw out an Aha! topic. If you have an Aha! aboutthat topic, raise your hand and share.
3. When you have given your Aha!, you will name the next Aha! topic forsomeone else to share. If you are struggling with a particular concept orwould like to hear someone elses take on it, solicit an Aha! on the topic.
4. Put your Aha! or the Aha! of someone else into action using theworksheet below
Time:10 minutes
1. The concept Im still struggling with:
2. The single most important Aha! for me:
3. How I will use this Aha!:
4. How I will benefit:
5. What I need to do to make this happen:
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MREAADMIN :LEADTRACKING AN D FOLLOW -UP
Chapter 3:Marketing theTeam Strategies
In this chapter, you will
[ 1] Learn about contact management.
[ 2] Discover how to set up your database.
[ 3] Learn how to feed your database.
[ 4] Learn how to systematically market to your
database.[ 5] Discover how to properly maintain your
database.
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Contact Management
Your Business is Your Database
Truth
The success of your team will be in direct proportion to thesize and quality of your contact database.
Your teams ability to generate leadsand therefore, grow your businessistied to your ability to amass and systematically market to a large database ofcontacts. The more contacts you add to your database and the more
efficiently you manage those contacts, the more leads your teams marketingand prospecting will generate. This is why we say your business is yourdatabase.
Your teams marketing strategy will revolve around your database and how it isimplemented. One of your chief responsibilities will be to oversee thedatabase. If you are not already familiar with the software that your team usesto run the contact database, you will need to learn it inside-out, since you willbe responsible for the administrative activities of maintaining it. These dutiesinclude:
Sett ing up your database
1. Creating necessary contact information fields
2. Creating automated plans
3. Creating database groups for targeted marketing and prospecting
Feeding your database
1. Overseeing the entry of buyers, sellers, prospects, and business contacts
2. Checking that contacts are placed in the correct group
3. Checking that contacts are launched on the proper plan
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Contact Management
Your Business is Your Database (continued)
Systematically marketing to your database
1. Making sure that team members follow through on their assigned tasksfor plans
2. Executing appropriate touches
Maintain your database
1. Update their contact information.
Completing a real estate transaction with the team usually involvesmoving. So for all of your clients completing a transaction, you will needto update their contact information with their new address and phone
number.2. Keep them on the right plan.
3. Keep them in the correct group.
4. Keep current notes on correspondences.
Multiple team members will be accessing your teams database andinteracting with clients. To avoid overlap and missed opportunities, it isimportant that each team member record their interactions with contactsin the database.
Some database software will automatically record when you send emails
to contacts in the notes field. However, team members will still need torecord when they speak with contacts over the phone or in person andwhen they send letters, Thank You notes, and other personalcorrespondence to contacts. Contact notes should be dated, and thedates in the notes should coincide to some degree with the plan dates.
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Set up Your Database
Contact Information
If your Mega Agent has not already set up a database, you will need to do so.Use Contact Management Software (CMS) to set up and use your databaseeffectively. CMS is more that just an email client (e.g., Netscape, Hotmail, etc.),because it allows you to maintain, sort, and automate certain parts of yourcontact database.
A good CMS will allow you to customize many aspects of your database. Youwill need to customize the contact information portion of the CMS with thefollowing fields:
For all contacts
The following information is a must have for all of your contacts:
1. Name2. Phone number (home, mobile, office, and fax)3. Email address4. Home address5. Notes on past correspondence6. Source7. Database group8. Active (Are they actively searching or selling or are they prospective
buyers or sellers?)9. Status level (A, B, or C)
10. Contact type
a. FSBOb. Expiredc. PTAd. Womens Symphony Leaguee. _____________________________f. _____________________________g. _____________________________
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Set up Your Database
Contact Information (continued)
For your inner circles
The following information is nice to have for all of your contacts, but is a musthave for your inner circles:
1. Birthday
2. Spouses/childrens birthdays
3. Childrens names
4. Anniversary
5. Hobbies
6. Job position
7. Company
NOTE:You should calendar all important dates (birthdays, anniversaries, etc.) and setcalendar reminders, so theteamremembers to call thesecontacts on thosedates. Usually theMega will bein chargeof theinner circles of thedatabase. Any birthday or special occasionreminders for thesetypes of contacts should beassigned to theMega in your CMS.
Customizable fields
The top contact management software will allow you to create customizablefields for information you would like to keep on your customers. These fieldsallow you to perform quick searches of your database to find contacts of aparticular nature to send out specific marketing messages. Such fields might
include:
1. Name of teams Buyer/ Listing Specialist working with contact
2. Year closed
3. Co-op agent
4. Referring agent
5. Investor
6. Adopted buyer (non-team buyer who bought a team listing)
7. Sales price
8. Description of house
9. Interest rates
10. Type of loan
11. _____________________________________________
12. _____________________________________________
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Set up Your Database
Grouping Your Contacts
Mets and Havent Mets
As part of building your database, you will classify each of your contacts intocategories and groups:
You are generat ing leads from two categories
1. People you haveMet, and
2. A targeted group of people who youHavent Met.
These categories yield three types of business
1. New (from Havent Met)
2. Repeat (from Met)
3. Referral (most likely from Met)
Subdivide your categories into groups
Your Met and Havent Met databases should be further divided into groups ofrelevance. Generally speaking, you will divide your Havent Met database intothe publicen masseand a targeted portion of the public. Your Met database willbe divided according to their relevance to your business.
Use the chart on the next page to guide you in sorting your database intogroups.
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Set up Your Database
Grouping Your Contacts (continued)
Category Group Definition Lead Generation Strategies
GeneralPublic
People you havent met and whodont know you.
Implement appropriate Marketing andProspecting activities from the two broadprospecting categories and the elevenbroad marketing categories.
HaventMet
TargetGroup
People you havent met and dontknow. It differs from the GeneralPublic in that you have targetedthem as people with whom youdspecifically like to do business.
Implement a very specific marketingcampaign to this group. Utilize the 12Direct strategy.
NetworkGroup
Individuals who know you becauseyou have met them either inperson or by phone. Might dobusiness with you.
Launch a tighter; more directed marketingcampaign in hopes of building a strongrelationship and generating more businessper person than from the Target Group.Utilize the 8 by 8 and 33 Touch strategies.
AlliedResources
A very select subset of your MetGroup. Individuals in relatedfields that you expect either to dobusiness with or to receivebusiness leads from every year
usually, multiple times. Can and/orhave done business with you.
Market to them in the same manner as yourNetwork Group. In addition, meet withthem one-on-one for a meal, a visit, or aparty several times a year.
Advocates
People who not only have donebusiness with you in the past andwill continue to do so in the future,but will actively bring other peopleto you to do business, as well.
Market to them in the same manner as yourAllied Resources. Some (the mostinfluential) you would see as often as oncea month.
Met
Core
Advocates
Not only can and will do businesswith you, but they are wellplacedowner of a sports team,
executive at a large corporation, abuilder, etc.and will send you asteady stream of clients.
Market to them in the same manner as yourAdvocates. In addition, you should beproviding some sort of service to them that
improves their business as they arereferring people to you to increase yourbusiness.
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Set up Your Database
Contact Information (continued)
The Path to the Inner Circle
Once you have established your categories, your team will systematically targeteach of your groups with marketing messages specifically designed for them.Your teams goal in marketing to your database is to constantly be movingpeople from the General Public, whom you have never met, to the inner circlesof your Met database your Allied Resources, Advocates, and CoreAdvocates. The following diagram illustrates how this would work:
Your Strategy: Generate Leads and Move People into Your Inner Circles
General PublicHavent Met Grou
Target GroupHavent Met Group
NetworkMet Group
Allied Resources
Advocates
CoreAdvocates
5 50 100 1,76516,000At large
8 by 8 33 Touch
12 Direct
1on 1
HAVENTMET
MET
MET
(Inner Circles)
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Feed Your Database
Entering Contacts
Your team will rely on prospecting and marketing to find and bring in newcontacts for your database. As keeper of the database, you will need to overseeall new database additions. This means that your team will need to notify youwhen:
A new buyer or seller is entered
After an initial Buyer/Seller Interview, the Buyer Specialist or Listing Managerwill enter the contact into the database. Buyer Specialists or the Listing
Manager should make a copy of a completed Buyer/Seller Interview form andsubmit it to you. Youll need to compare the forms to the database entry tomake sure that the information is correct.
After the consultation appointment, you will need to get a copy of the VIPQuestionnaire from the Buyer/Listing Specialist to ensure that their personalinformation has been entered and their birthday calendared.
A prospect is entered
Your Telemarketer and Buyer and Listing Specialists will frequently meet goodleads that require special plans (FSBOs, Expired/Withdrawn Listings, etc.).
These leads should be entered into the database and launched on theappropriate plan.
A non-buyer or seller is entered
Frequently, your team members will meet individuals who, though they are notpresently looking to buy or sell a home, would make good additions to yourdatabase. Such an individual might include an Allied Resource, an agent whoreferred business to the team, or any number of business contacts.
When team members meet such an individual, they must send you an emailwith the name of the individual and a brief description of why they were
entered into the database.
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Feed Your Database
Entering Contacts (continued)
Contact Follow-up
In addition to verifying their contact information (name, phone, email, etc.),you will need to scrutinize the notes section for each contact to make sure ofthe following:
Groups
Check the group that the contact has been placed in for accuracy. If the teammember has placed them in the inner circles of your database, make sure thatthere is sufficient documentation to support this. For example, if they are listedas an Advocate, make sure that there is something in the notes that indicates
that they referred someone or have at least pledged to refer someone.
Source
Your team will track the source of all of your leads. If the source of a lead is anindividual who referred the lead to the team, make sure that the referringindividual has been added to the database, as well. For the referring contact,check the notes to see that the proper action has been taken in regards torewarding them for the referral. If they have not been entered, the teammember will need to get the sources contact information from the lead.
Activity
You will want to know if the contact is an active buyer and/or seller or aprospective buyer and/or seller. If they are an active buyer and/or seller, makesure that a consultation has been scheduled. If the assigned specialist has notscheduled a consultation, or the contact is designated as a Prospective Buyerand/or Seller, the contact should be placed on the appropriate 8 by 8 plan forprospective buyers or sellers.
Status or Level of Urgency
Your Mega will determine how you will classify the urgency of your prospective
clients. For example, an A seller would be someone who is ready to dobusiness immediately or within 1 month, whereas a B seller may be someonewho will not be ready until 1-3 months from now.
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Feed Your Database
Entering Contacts (continued)
Plan
In addition to the previously mentioned instances, you will need to check theplan that the contact has been launched on. Make sure that the plan isappropriate to the contact.
Truth
The easiest way to prevent contact follow-up fromoverwhelming your schedule every week is to train your team
members on how to properly enter contacts.
Everyone must use the same procedure in entering clients. YourMega will set the policy for how your CMS will be used. They willdefine your categories, sources, and status codes, and then you will
make sure that these are used consistently.
Your database procedures will undoubtedly change over time asyour team hones their skills. This is why you should be training
your team at least once or twice a year and as changes necessitate.
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Systematically Marketto Your Database
Automated Plans
Five Challenges
There are five challenges when it comes to organizing your marketing approachto your database:
1. You should have a large number of contacts in your database.
2. You should be communicating with each contact frequently.3. Different team members will communicate with contacts at different
times.
4. Your marketing messages to contacts will be different depending on thegroup, activity, etc.
5. Your contacts relationships with the team will change over time and sotoo will how and why you communicate with them.
Plans
Using a CMS that provides you with customizable automated plans allows youand your team to overcome these challenges in a systematic way that maximizesthe teams productivity. Plans are preset to-do lists that you can launch for agiven contact in your CMS. For any given task on the to-do list, the CMS planwill remind the responsible team member of the task when it is time tocomplete it.
Customizable plans are a must have for having a systematic approach to yourdatabase. You will use different plans not only for different groups (i.e.,sphere, allied resource, etc.), but for different points in the teams relationshipwith a given contact (i.e., prospect, client, past client, etc.). Three general types
of plans that will help you market to your database are:
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Systematically Market to Your Database
Automated Plans (continued)
12 Direct
For your Havent Met database (i.e., purchased address lists), use the 12 Directprogram to market to them and try to move them into your Met database.
8 x 8
When you or a team member