Extending invitations, remembering birthdays, and other strategies to make your database work for you.

As a real estate professional, your database is one of your most important assets. Your database, or the list of all those you have worked with in the past, those you are currently working with, and those who have expressed interest in working with you in the future, is the ideal asset to take your marketing to the next level. Unfortunately, many realtors ignore the importance of their database and waste valuable time, money, and energy on marketing ploys that never give them the solid leads they need. If you want to keep your prospects engaged with your business and develop plans that deliver the ROI you’re after, consider using these database strategies.

The Mistake Realtors Make with Their Databases

An agent’s database is key to staying in touch with their clients, referral sources, and those who may buy or sell a home in the near future. If you don’t maintain and use it effectively, you’ll drop off the radar of those you want to work with and, when the time comes for them to contact a real estate agent, they’ll turn to someone else. Unfortunately, many agents suffer from “shiny object syndrome” where they jump on the newest trends in marketing instead of playing the long game and focusing on building a robust database. Though some of the latest and greatest marketing trends can deliver results, agents who put all their eggs in those baskets will be back to square one when there’s an algorithm change or another occurrence that renders the marketing platform ineffective.

Instead of jumping at trends and following others, keep your eye on the ball and continue to build a strong database that you can use for marketing purposes. The more qualified names you have on your list and the better you do at strategizing ways to keep them engaged, the more leads you will get. This will keep you miles ahead of the competition and continually moving forward.

Database Marketing Strategies

Once you have a strong database (research indicates that 1000 people is an ideal number), you can start developing strategies to keep them engaged with your business. Here are some proven methods of marketing to your database:

1.      Focus on education.

You are the expert in your industry, so why not share that expertise with those in your database? Send out regular newsletters or personal emails that have info on what the local real estate market is doing, what to expect from mortgage interest rates in the next few months, or how to choose the right projects to increase the value of their home. When you strive to educate, you’ll give value to those in your database and show them you’re not just in it for the sale.

2.      Remember special occasions.

Everyone likes to be recognized on special occasions like their birthdays or anniversaries. Make note of special dates in your database so you can send out birthday or anniversary cards or send a special note on big days. For important clients, you might even consider sending a gift or extending an invitation to lunch or out for a celebratory drink. Knowing what days are important to your clients and prospects is a surefire way to stay ahead of the competition and make sure you’re top of mind when they need a real estate professional.

3.      Use the Right Programs

Having and building a database is one thing. Knowing what to do with it when it comes to marketing is another. Your database should be connected to an effective CRM (customer relationship management) system that alerts you when to follow up with those on your list as well as when an important day arrives and at what step of the customer journey those on your list are currently in. A CRM will help you grow your relationships with those on your list and make sure no one falls through the cracks.

4.      Be the Go-To Source for Local Events

If you really want to be top-of-mind for those on your database, start establishing yourself as the authority on the neighborhoods you serve. Send out reminders when there’s an upcoming event, festival, or new business opening. Pack your monthly newsletters with information on what’s going on in the area, fun activities for families, and the latest and greatest restaurant opening. Piggyback on this strategy by using your social media platforms to also promote neighborhood goings-on and reach out to local business owners, artists, and musicians to ask how you can help promote their events. Once you get known as the top resource in the area, the leads and referrals will naturally follow.

5.      Extend Invitations

Are you hosting an upcoming networking event? Speaking at a local group? Attending a neighborhood function or get-together? Invite those in your database to attend with you. Not only will this help you get more people to whatever event it is you’re attending, but you’ll also get the chance to talk with those in your database personally. If you use this strategy, try to curate which of those in your database would most benefit from the event in question rather than sending out invites to everyone. This personalization elevates your status in the eyes of your database as it shows you’re putting thought and effort into your invites.

6.      Don’t Lose Patience

Developing your database and marketing to it is not something that will lead to quick sales. It’s important to realize this is a long-term strategy that needs to build momentum before it starts paying off. Stay patient and diligent about curating your list and sending out regular content and wait for the leads to pour in.

If you’re ready to take your real estate business to the next level, you need to focus on developing your database and coming up with effective strategies to market to those on it. Need some assistance? The experts at Luxury Presence would be happy to help.