Referral Marketing - New Member Welcome Guide

Referral Marketing Official Welcome Guide

How to Use Your Magazines to Build a Referral-Based Business

I can’t tell you the number of agents I’ve seen pounding the pavement, endlessly prospecting FSBOs and Expireds, barely scraping by, and getting rejected left and right. That’s why I’m so passionate about referral marketing. I truly believe it’s the easiest and most consistent way to do business.

Just think about it. If you know 50 people (and you probably know a lot more), about 13 percent of those people will move

every year, according to U.S. census data. Those 6 or 7 people should be calling you to list their homes, and they should be referring you to the 6 or 7 people they know who are looking to sell. The potential to expand your reach is virtually limitless. As a real estate agent, you’ve likely heard the phrase “sphere of influence.” This refers to all the people you know, both personally and professionally. Your network, or sphere, not only includes your past clients, but also your friends and family members, people you know through organizations, through your kids or spouse, and just from being “out and about” in the community. I guarantee that once you start brainstorming, you’ll realize you know a lot more people than you thought.. So what’s the big deal about having a large roster of acquaintances? These folks are the key to growing your business. That’s why we created the Referral Marketing System — to help agents like you keep in touch with your sphere so you’ll be the first agent they think of when they or someone in their own sphere is looking to buy or sell. The key to this system is consistently following up with all of the people who receive your magazines. Did you know that only 10% of salespeople follow up after 3 contacts? If you follow up a fourth time, you’ll be ahead of 90% of your competitors.

If you have any questions about the content of this guide or your Referral Marketing System, don’t hesitate to reach out to our team at 904.695.9933 or support@authorify.com.

We can’t wait to help you start generating referral business.

Charles Curry Authorify

Welcome to Referral Marketing!

Congratulations! You’ve already taken the first step toward building your referral business. We can’t wait to help you consistently stay in front of the people in your sphere with our monthly Home Sweet Home Magazine subscription.

Home Sweet Home is a publication that celebrates all of the things people love about their homes. It covers topics from home design and gardening to party hosting and spending time with family.

Your magazines are customized each month to promote your business and are mailed to your selected list of leads, solidifying your reputation as the go-to real estate agent among members of your sphere. Every month that members of your sphere receive your magazine, they’ll remember to refer you to anyone they know who is thinking of buying or selling a home.

In this guide, we’ll discuss:

Page 4 - Why Referral Marketing is one of the most lucrative and consistent business opportunities. Page 5 - Who Should Receive Your Magazines. Page 7 - How to Promote Your Magazines and gain more subscribers. Page 10 - How to Follow Up with the leads who receive your magazines (including scripts). Page 15 - How to Hand Out Your Magazines if you don’t send them to leads. Page 16 - How to Customize your magazines. Page 20 - What’s Included in your Referral Marketing System.

Let’s get started!

Why Referral Marketing?

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Did you know that referral marketing is nine times more powerful than cold calling or door knocking? It’s true. According to the National Association of Realtors, 71% of sellers found their agents through a referral or repeat business. Only 8% of sellers found their agents through a cold call or at an open house.

5 0

Referrals

Repeat Business

Cold Calls

Open Houses

Who trusts referral marketing?

A Nielsen survey about the most trusted forms of advertising scored referral marketing the highest across every single age demographic, higher than editorial content, all forms of ads, and brand sponsorship.

83% 85% 83% 80% 79%

Gen Z Millenials Gen X Boomers Silent Gen

Beyond these promising statistics, having a business built on referral marketing allows you to spend less time prospecting and more time forming relationships with your clients and actually selling homes. The more time you can dedicate to your clients, the better your chances of securing a referral in the future.

With our Referral Marketing System, we aim to give agents the tools they need to kickstart a business that virtually runs itself.

Who should receive my magazines? As we mentioned, these magazines are intended for members of your “sphere of influence” — in other words, all of the people you already know. These are the people who have worked with you or at least have some knowledge about your business, and they are the people most likely to refer you.

A lot of people don’t realize how large their sphere of influence actually is until they sit down and start thinking about everyone in it. That’s why we’ve put together this handy list to help you brainstorm.

People who attend your place of worship Your neighbors People who work out at your gym Members of clubs you belong to, such as PTA, book club, Rotary, volunteer groups, etc. Professional relationships such as your accountant, car mechanic, dry cleaner, landscaper, hairdresser, day care provider, dog groomer, and mail carrier

Family members, both immediate and extended Your spouse’s family members Personal friends Your spouse’s personal friends Your kids’ friends’ parents Your family’s friends Past clients Colleagues you’ve previously worked with Colleagues you currently work with Your spouse’s colleagues

Keep in mind, your sphere is constantly growing. Every time you meet a new seller or buyer, your sphere grows. Every time you approve a spend-the-night party for your child and meet the other child’s parents, it grows. Every time you make a new acquaintance at a wedding, it grows! Furthermore, these days, the internet and social media have made our spheres larger than ever. Not only can you keep in touch with childhood pals you might no longer see, but you can also connect with people you perhaps don’t know in real life or simply know in passing.

Of course, you don’t want to invest time and money into people who aren’t open to recommending you. That’s why it’s imperative to evaluate everyone you know.

Once you have your list of contacts, start dividing it into the following three categories: hot leads , warm leads and cold leads .

Hot leads are the people most likely to work with or refer you, and they should be the first people to receive your magazines. These people might be looking to buy or sell soon or might know a lot of people looking to buy or sell. While you may not need to send your magazines to your parents and siblings (since you should

already be their go-to agent recommendation), you should send your magazines to friends and extended family members you’re fairly certain would work with you or recommend you to people they know. You can also send your magazines to people you know are actively looking for an agent, like new prospects or a neighbor down the street looking to sell. Past clients who have given you rave reviews would be great candidates to receive your magazines. Warm leads are people you probably know on a friendly basis, but you’re not sure they would use you or recommend you to others. They might be newly engaged, growing their families, or nearing retirement — all prime candidates for future home sales and purchases. Many previous clients count as warm leads. Perhaps, you just worked with them, but you anticipate working together again in the next few years or they have a lot of friends who might be looking to buy or sell. We recommend emailing these people using our weekly email templates and sending your magazines to anyone on this list who subscribes on your lead page. Cold leads are people who don’t know much about you or your business or perhaps do not need to buy or sell real estate at the moment. These people may not be worth emailing or sending a magazine, but you can stay in front of them on social media and move them up your list if you form a stronger connection or they regularly engage with your posts. Your goal with a cold lead is to stay in front of them so that when the time comes and they need an agent, they will think of you.

There are two big questions to ask yourself to determine where a person falls on this cold to hot scale:

1. Would this person use me if they were buying or selling a home? 2. Would this person refer me if they knew someone who was buying or selling a home?

This second question is a bit more complicated. Many of the people you know well would happily work with you. But you have to consider whether they’d feel comfortable enough to refer you to someone they know. When someone gives out a recommendation, your performance reflects back on them. If a person in your sphere has doubts about your abilities or worries the recommendation could sour a relationship, they may be hesitant to refer you.

Here are some more questions to help you categorize your leads:

Has the person worked with you previously? In the case of previous clients, did they enjoy working with you? When did you last engage with the person?

How well do you know the person? Does the person live in your community? Has the person recently bought or sold real estate?

If you aren’t sure where a lead falls, put them on your warm list and try to stay in front of them, with the intention of adding them to your hot list down the road. Remember that people can move between hot, warm, and cold at any time. If you gain new information or strengthen your relationship with a person, consider whether you can move them up on your list.

How do I promote my magazines?

Each month, you can access pre-written email and social media templates to promote your magazines and get people to subscribe. You can find them at Referralmarketing.com/templates .

For complete instructions on using our provided templates, visit Referralmarketing.com/training . Here’s a brief overview of how to use each of these templates to promote your magazines.

Email:

We provide four separate email templates per magazine issue to promote your magazines every week of the month. You can send these out in any order you choose, at any time you choose.

Choose which email you’d like to send, then copy and paste the provided email template into an email draft.

Replace the following information with your own. Our team will provide you with the links to your digital magazine and lead page.

Click on each of the provided image links at the top of the email template to choose a royalty free image. Download your favorite image from our selections or search for your own, and save it somewhere you can easily access it, like your Desktop.

Drag and drop or insert the image you downloaded at the top of your email, above the text. Choose from one of our four provided subject lines , and copy and paste it into the subject line space. 6 Choose your recipients and place them into the BCC field. This will prevent people from seeing all of your other recipients’ email addresses and replying to everyone by mistake. 7

If you are emailing a large group of people, we recommend using an email service or CRM. Simply choose from one of their templates, copy and paste these same items into your template, choose your recipients, and schedule your emails for when you’d like them to go out.

Social Media:

We provide four separate social media templates per magazine issue to promote your magazines every week of the month. You can post these in any order you choose, at any time you choose.

Post the same image you saved for your email template, along with the provided text for either Facebook or Instagram. Don’t forget to copy and paste the link to your lead page and digital magazine link in place of the placeholder text, or in your bio on instagram.

Examples:

How do I follow up with my leads?

The key to any successful marketing campaign is following up with your leads to secure their business. Referral marketing is no different.

Consider the following stats that show the importance of following up.

Only 10% of salespeople follow up after 3 contacts. If you follow up a fourth time, you’ll be ahead of 90% of your competitors.

48% of sales people never follow up with a prospect at all.

48 %

10 %

44% of sales reps give up after 1 follow-up.

25% of sales people make contact a second time and then stop.

25 %

80% of sales require 5 follow-up calls after the meeting.

80 %

The point is, if you follow up after you mail out your magazines, you significantly increase your chances of securing referral business. Your magazines are delivered on the first few days of the month, so we recommend following up between days 5 and 10 . Ideally, you’ll follow up once a month after you’ve started mailing them, but you should follow up at least quarterly for the greatest chance of success. Here are some scripts and templates you can use to reach out to the people who received your magazines. We recommend mixing up your mode of communication every time you reach out to a potential referral. If you have an Authorify book, you can also offer a copy of your book as part of your follow-up strategy.

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Text Messages: Depending on the person you’re messaging, you might want to use a shorter or longer text variation. Most people are more likely to respond to a shorter, more direct text. Use your discretion to determine which of your leads would respond best to each one. You can also cycle through each of these templates over a period of time.

Variation 1

Agent: Hey NAME, I just wanted to text you to see if you received the magazine I sent you? It’s full of helpful home articles I thought you would enjoy reading.

Lead: Yes I did! Thank you for sending it.

Agent: No problem. I hope you are doing well. I also wanted to check in to see if anyone you know is looking to buy or sell a home soon? I would love it if you could keep me in mind the next time someone you know is looking for an agent. Your referral would mean the world to me.

Variation 2

Agent: Hey NAME, did you get the magazine I sent you? You should have received it last week.

Lead: Yeah, I got it. Thanks!

Agent: Glad to hear it! Let me know if I can do anything for you or if you know anyone who is looking to buy or sell a home soon.

Variation 3

Agent: Hey NAME, did you get the magazine I sent?

Lead: Yeah, I got it.

Agent: Awesome! Let me know if you need anything fromme. I’d love to get a referral if you know anyone looking for an agent.

Phone Script

Agent: “ Hey NAME! It’s AGENT. How are you?

*Wait for response and continue any natural conversation that occurs.*

Agent: I just wanted to call you to see if you received the magazine I sent you this month?

*Wait for response, then talk about the magazine — what they liked about it, etc. Continue conversation until a natural closing point.”

Agent: “I just wanted to find out if you are personally looking to buy or sell in the near future or if you know anyone who is thinking about buying or selling?

*Wait for response.*

IF THEY SAY YES:

Agent: Would you give me the opportunity to earn your business?

Agent: Would you do me the honor of recommending me the next time you speak to them?”

IF THEY SAY NO:

Agent: No problem at all. If you do hear about anyone looking, would you be willing to give them my contact information?

*Wait for response, then thank them for their time and recommendation. If they are looking to buy/sell themselves, continue the conversation to secure a listing appointment.*

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Email: Again, different people respond to different types of emails. If you don’t know someone as well or haven’t spoken to them in a while, you might want to go with a longer email to explain your intentions and re- establish a connection. If you regularly speak with someone, a longer professional email might not be the best choice. Most people you know well would be more likely to respond to a short, to-the-point email. You can also start with the longer email after your first mailing, then shorten your approach each month you follow up.

Subject Line Ideas 1. Did you get the magazine? 2. I mailed you a magazine. Did you get it?

3. I sent you something in themail. Did you get it? 4. Did you see the magazine I sent you?

Email Variation 1

Hey NAME,

I hope you are doing well. I wanted to check in to see if you received the magazine I sent you this month. Home Sweet Home is a monthly home magazine with lots of tips and fun articles for homeowners. I hope you enjoyed the content as much as I did! I also wanted to check in to see if you or anyone you know is looking to buy or sell a home in the near future. If you are planning to sell, I’d be happy to provide you with a free Comparative Market Analysis to determine the value of your home. We can also meet to discuss the best ways to market your home and get it sold for top dollar. If you know someone else looking to buy or sell, would you do me the honor of sharing my information with them the next time you speak? I would love to guide them through their real estate transaction. As always, I am here for anything you need and hope we can catch up soon. Please keep me in mind the next time someone you know is looking for an agent. Your referral would mean the world to me.

Sincerely,

AGENT NAME BROKERAGE PHONE EMAIL

Email Variation 2

Hey Name,

I hope you are doing well. I wanted to check in to see if you received the magazine I sent you this month.

I also wanted to check if you or anyone you know is looking to buy or sell a home soon?

AGENT NAME

Email Variation 3*

Hey Name,

Did you receive the magazine I mailed you this month?

AGENT NAME

*After the person responds to this email, you would follow up by asking if they knew anyone looking to buy or sell.

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Ididn’t provide leads for themailing. What should I dowithmymagazines? If you didn’t provide a list of leads to receive your magazines, the quantity you ordered will be sent to your address on file. But luckily, there are lots of great ways to get your magazines in front of people who will recommend you or who might like to work with you themselves. Here are a few ideas:

1 2 3 4 5 6

Bring your magazines on listing presentations as a gift. Even if someone decides not to list with you, they’ll remember that you gave them a magazine. That magazine is likely to sit on their counter for a while, a constant reminder that you are available to help them if they change their minds. Hand them out at events. Leave them out on a booth or pass them out to people walking by. You might just get some subscription sign ups if you include a QR code to subscribe on the front or back of your magazine. Mail them as a thank you after you close with a client. Send them to your past clients as a reminder that you are always available if they need you or if someone they know is looking to buy or sell. Past clients are great people to consistently mail your magazines. Give them out to your friends/family when you see them. While your friends and family likely know what you do for a living, giving them a magazine reminds them that you would always appreciate a referral. Leave them out at open houses. Put out a sign that encourages people to take a copy of the magazine as a free gift. Anyone who takes one home will have something with your name, photo and contact information if they want to reach you in the future. Hand them out in place of your business card. Because they are a bigger size and have entertainment value, your magazines are much more likely to be kept than a traditional business card. Your magazines include all of the same information as your business cards, but they make you stand out from other agents.

Go door to door in your area, dropping them off. What better way to introduce yourself to people in your area than by dropping by to give them a free gift, with no strings attached?

How do I customize my magazines?

Each month, our team puts together a default magazine design. If you make no changes to this default design by the 20th of each month, your magazines will be customized with the information you initially provided.

If you’d like to further customize your magazine, you can choose from several different templates for both the inside and outside covers.

Front Cover

Choose from five different cover designs each month, in a variety of styles and colors schemes.

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Our default front cover design includes just your image and contact information, but you can also choose from the following add-ons:

Brokerage Logo

QR Code for People to Subscribe

Your Social Media Info

Each month, we write a cover letter for the current issue from you, the agent. You don’t need to do anything to this cover letter — we automatically add in your name and contact info in the signature area. But if you want to write your own cover letter or tweak the one we’ve provided, you’ll have the opportunity to do so every month. Inside Front Cover

Example Cover Letters

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Inside Back Cover

Choose from the following five options for your inside back cover:

Housing Market Report - This is the default template. Encourage your leads to reach out to you for an update on the current market so they can determine whether now is the right time to buy or sell. 1.

House Value Ad - Invite your leads to find out the current value of their homes with a comparative market analysis. 2.

Just Listed Ad - Promote your newest listing and show people you’re actively selling in their area.

Just Sold Ad - Show members of your sphere you have the skills and market knowledge to sell homes for top dollar in your area.

Testimonials - Let your past clients do the talking and show your potential clients why you’re the one they should be working with. 5.

Our default back cover includes your name, image, contact info and a Call to Action to reach out to you if someone is thinking about selling. But you can also choose from the following options for your back cover: Back Cover

Book Promo Ad - Are you also an Authorify member? Promote your book on the back of your magazine and let people know how to receive a free copy.

QR Code to Promote Your Lead Page - Readers can subscribe to be added to your mailing list.

House Value Ad - Invite your leads to find out the current value of their homes with a comparative market analysis.

Just Listed Ad - Promote your newest listing and show people you’re actively selling in their area.

What is included in my Referral Marketing System?

Your own personalized magazine. We’ll customize the magazine with your name, picture, and contact information.

A Lead Capture Web Page for generating new subscribers. Send your magazine to them, and generate more referrals.

Weekly Emails for you to send to your Past Clients and Sphere. These emails will promote your digital magazine and generate more referrals.

Printed copies of your magazines mailed directly to your Past Clients and SOI. We ship directly to your leads so you don’t have to do anything!

A digital magazine to share with your Past Clients and Sphere. You can email it to them or post it on Social Media.

Weekly Social Media Templates. Simply copy and paste them on Social Media and generate more referrals.

Still have more questions or need help with your magazines?

We have a premiere customer support department that can show you how to maximize all of the benefits of your Referral Marketing products. Our support representatives are available from 9 a.m. to 6 p.m EST Monday through Friday. Email Support@Authorify.com or call 904.695.9933 .

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