Phases of sales cycle for real estate

How to create outlook signature

the reason why most agents fail is because they do not treat their real estate business like an actual business they're not thinking like a marketer or an entrepreneur [Music] in any given business there are six phases i call what the sales cycle is the first one is marketing followed by lead generation then lead nurture then conversion then fulfillment and delivery and then what i call the 5rs how do you get people to resell with you re-list with you and how do you get that through you get that through rituals and routines okay so let's break down each one of these different phases the first one is marketing marketing is not your brand or your colors when it kind of is right that's more branding but marketing is attraction most real estate agents and most businesses entrepreneurs coaches consultants what they're doing is is that they are constantly chasing chasing chasing they're doing things like download this lead magnet give me your information that is not marketing marketing is attraction marketing is when you actually have somebody raise their hand and say hey i would like to work with you and the reason why people do that is based upon the fact that you've given them valuable information you've helped them you've served them you've actually solved a problem you've really really helped them find a solution to something that they're facing so the more that you can market to people remember marketing is attraction which means the more that you can actually offer value serve not sell help people getting them to raise their hand so much so because your marketing messaging is speaking directly to them that is what marketing is so that's the first phase it's marketing right you've got to be able to expose yourself to people you've got to be able to help them and if you help them then you're going to generate leads the second phase of the sales cycle lead generation now remember we can't generate leads if we're not marketing most people pay for leads in any given business including real estate and coaching consulting whatever business that you're in you're paying for leads right you're paying for leads from outside services but those leads are also being sold in many cases to other people so when you can generate your own leads from the marketing efforts that you're doing and personally what i do is i utilize video how can i create video content that is binge-worthy that really helps people that serves a need that solves a problem that is a solution to exactly what they're looking for if i can market properly then i'm going to generate leads on my own and here's the deal those leads are much higher quality leads because when you utilize video you are establishing yourself as the expert you are you are positioning yourself as the authority you're breaking down people's barriers you're getting them to know you to like you and trust you and literally it's called a parasocial relationship what that means is when people see you on the other side of a video or a screen or a computer and you're and you're doing video content they're actually getting to know you right like even think about this right now you know me a little bit right now more than you did when i first started recording this video you first started watching it right you kind of can tell that i've got a lot of energy i'm super hyper and i know a little bit about marketing so right now you're developing a relationship with me and how that's helping me is is i'm able to break down your barriers i'm getting you to see that i am an expert in the knowledge that i'm giving you and we're kind of developing a relationship a parasocial relationship right so when you market properly you're going to generate leads these leads are going to be much easier to convert right because of the fact that these leads you're giving them something okay so we've got marketing followed by lead generation the best kind of lead generation are leads that you personally are generating on your own from serving not selling and giving a lot of content the third phase is lead nurture now here's the deal in most businesses now i don't care what business you're if you're a real estate agent if you're a mortgage officer if you're a coach an entrepreneur consultant lead nurture is difficult because we want things we want it now right we want now now now now now because of ping pong twitter twitter google instagram our phones everything is at the instant access to our hands immediately we want things immediately the problem is is that people take time before they're actually going to convert right you need to nurture these leads once you've actually marketed and generated the lead now it's time to nurture the lead so how do we nurture the lead number one obviously you need a good crm you also need to keep showing up in front of that lead over and over again both in their inbox and on the social channels that they follow and you need to nurture them by giving them more value and it's really really helpful when you know exactly what they originally were interested in and you give them more information based upon that right so you want to nurture these leads keep showing up in front of them whatever your profession is right whether you're a real estate agent whether you're a coach or consultant whatever they think about your profession they need to think about you i actually call it i actually have a trademarked right it's called a community market leader anytime anybody thinks about real estate or real estate coaching or business coaching they think about me in my local area now i'm making it to where everyone thinks about me right that's your job your job is to make it to be uh you're unforgettable if you nurture your leads appropriately you're going to be unforgettable here's the deal everybody if people don't think about you or know about you until they're ready to make a decision you are too late people need to think about you know about you hear you they need to think about you beforehand before they're ready to take action that's how you're going to be able to do more of what the next phase is is convert all right so number one marketing number two lead generation number three lead nurture number four is conversion if you have marketed properly and you've nurtured properly right it's gonna be so much easier for you to convert because people have developed a relationship with you they've gotten to know you they feel like they know you and research shows that people are much more likely to do business with someone that they know like and trust let's just use this example let's just say you're head-to-head with somebody and you you've done the exact same things up until a point where you're in front of a customer but but you didn't do but you did one thing different everything was equal except you created video content they saw you on a regular basis you nurtured them you offered value you they you actually developed that parasocial relationship with you you're going to have a much more likelihood to convert now sometimes this process takes a little bit longer what most people do is they just put out you know here's a lead magnet you know give me your information download this form join the seminar you know give me give me give me but they forget the biggest most important steps is the marketing aspect of it and the lead nurturing and when you do that properly you're developing a relationship so the conversions might take just a tad bit longer in the beginning but once you they actually are ready they are so much more likely to convert and that customer is going to stick around for a long time conversion becomes so much easier when you actually have a relationship with that person and when you create video content and you properly distribute it and you're showing up over and over in the eyes of your client avatar who you're trying to convert conversions are simple all right so marketing followed by lead generation lead nurture and then conversion now once you've converted that lead we've got to make sure that we give them the very best fulfillment and delivery process that means that you've got to knock their socks off you've got to give them excellent service well how do you do that well you got to make sure you've got those tools in place the systems the processes and the crm i personally have something called the measure method and it's anything from you know it's a landing page builder a website builder it's workflows it's transaction management it's anything and everything that i need to a website to stay right in front of my of my client right to make sure that i'm showing up over and over again i'm making it to that so that i'm unforgettable during that transaction right we've got automatic email reminders automatic text message reminders we're making sure that we have the tools and the and anything that they might need to actually make the experience better for them great communication timely service impeccable impeccable what you're doing and if you've got a really good crm with great transactions and great work flows in it you're going to do a much better job actually giving them a really really great fulfillment process now the last phase is refer retain or sell how do we get people to refer us how do we retain them as clients and get them to resell with us well we do that through having strong rituals and routines i guarantee you that you've been forgotten okay how many times have you had a great experience with the client just for that client to absolutely forget about you they forgot about you why because you were not top of mind you were not showing up where they are on a regular basis and where people are is they are online so as a marketer it is our job to go where our clients are our clients are online they're on social media so yes we may have to invest right in making sure that we're showing up in front of people that we're constantly top of mind that it makes it impossible for us to be forgotten let me give you a really good example about three years ago my husband and i bought a lot and we built a house from scratch right and we had custom closet organizers put in and i loved this woman she was amazing we all said custom blinds put in i love that lady too i really wanted to hire her but guess what they did not keep in touch with me since they put put my closet organizers in i've never heard from her again i cannot refer her i can't remember her i couldn't even use her again if i wanted to which by the way i have because we put in more closet organizers in other areas in our in our house but i could not refer her she didn't retain me as a client and i could not resell with her why because she did not stay in touch with me even though she gave me an amazing fulfillment and delivery process she marketed properly she generated me as a lead she nurtured me she converted me she gave me a great fulfillment process but she forgot one of the most important pieces how does she still retain me as a future client how does she get me to refer her she does that by being in my face by keeping top of mind she did not do that and i can't remember her name i can't find her phone number she's lost me as a client and all of my referrals so that is the biggest reason why people do not make it in any business no matter what business that they're in they do not think about all phases of the sales cycle and understand the sales cycle marketing lead generation lead nurture conversion right fulfillment and delivery and the five r's all of them work hand in hand so you might be a great marketer but if you don't know how to nurture the leads that you're creating nothing will happen you might have an excellent process of fulfillment and delivery and you're great to your clients but if you don't know how to market you don't have to generate leads you can't nurture them you're never going to convert them so you're not going to be able to give them good service i hope this makes sense this is the number one reason why businesses any professional any business does not make it they forget about how important every single phase of the sales cycle is and they only focus on one or two and if you're missing any one of these areas there's huge gaps in your business so i hope that was helpful that is how you as a as a real estate agent or a coach or a consultant any kind of entrepreneur any kind of professional ends up getting more business converting that business keeping that business and staying in business so hope that was helpful do me a favor like and subscribe and share and i'll see you on the next one kristen may show here with chris to make sure coaching and we want to teach you and that's exactly what we do we teach people how to dominate their industry and how to dominate their space properly using video and properly distributing it hey there i have a brand new podcast called fired up with krista mayshore where i bring my high energy right to your ears this podcast is available on all your favorite podcast platforms so do me a favor go subscribe and leave a review all this information is free and i cannot teach you everything i know thanks so much for watching my video you can learn more about how to be a successful real estate professional by watching other videos that i have and be sure to subscribe to my channel and as always make it a great home selling and buying day