Prospecting needs to be treated like a sport, in the sense that you only get better with practice. It's a long race that is often uncomfortable, particularly when you're on the phone and not receiving immediate acceptance.
I have a long list of successful growth strategies that I've implemented into businesses in my role as business performance manager with the Ray White Group. I thought I'd edit them down and share with you the four key questions that I ask all principals and business development managers before I start working with them.
1) Do you really know your customer? While it's essential to know your market as a business development manager, it's even more important to know your customer inside and out and align your marketing messaging, marketing channels and value proposition accordingly. Are your clients local or interstate? What are their common demographics? Where do they go to seek information? What would excite your potential new client about your business? Would your existing clients refer your business to their family and friends? Which growth channel are your prospective clients in? (Five Channels of Growth is a proven strategy that we implement).
2) Do you have a structured prospecting plan? The biggest problem that I see for business development managers is the lack of consistent prospecting activity and business development managers not doing the right things at the right times, with excuses such as 'I've just been too busy' or 'I don't know where to start'. In my view, sending out emails or letters every now and then is not effective prospecting; to be successful you must maximise your time by developing an effective prospecting plan that is strategic, monitored for success and modified accordingly. While time management might sound like a cliché, if you're busy listing and don't make time to consistently prospect, you will stop listing and your pipeline will dry up – it's that simple.
3) Why should I choose you as my agent? Your answer to this question is vital; your response needs to be confident, clear and concise, whether you're on the phone making prospecting calls, in a listing presentation or preparing marketing material and content. If you can't cut through with your value proposition and have a consistent message in your marketplace, you will not engage potential clients and and will miss out on the opportunity to secure new business.
4) Do you use a variety of marketing methods? A structured prospecting plan includes video, social media, articles, electronic direct marketing, smart outbound calls, Google campaigns, SEO, community events and customer reviews. While this sounds like a lot of work, it can be managed into a simple process through the use of our structured communication plans.
Once I've identified the current prospecting performance of the business, I then develop a tailored growth plan and work with the team on their necessary skills development, which will not only save them time, but rapidly accelerate their success. Don't hesitate to contact me any time for further information on how to successfully grow your property management business.