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Cultivating Intestinal Microbiota
1. Understanding inner circles❓❓: Social Network Analysis (SNA)
- Social Network Analysis (SNA) is a research method used to study relationships between individuals, groups, and organizations. It helps to identify the structure of inner circles and identify key influencers.
- Key metrics in SNA:
- Centrality: Measures the importance of an individual in the network.
- Degree Centrality: The number❓ of direct connections an individual has.
- Betweenness Centrality: Measures how often an individual lies on the shortest path between two other people in the network.
- Closeness Centrality: Measures the average distance from an individual to all other individuals in the network.
- Density: Measures how interconnected individuals in the network are.
- Centrality: Measures the importance of an individual in the network.
- Apply SNA tools to map relationships with contacts and identify Core Advocates who have high centrality.
2. social psychology❓ of Persuasion and Influence: Building Trust and Loyalty
- Reciprocity: The tendency of people to reciprocate favors.
- Formula: E = k * S, where E = Impact of Reciprocity, k = Relationship Quality Constant, S = Value of Service Rendered.
- Apply Reciprocity by providing value before asking for referrals.
- Scarcity: People value rare things more.
- Authority: People tend to trust experts.
- Liking: People prefer to deal with people they like.
- Commitment and Consistency: Once someone commits to something, they tend to stick to it.
3. Effective Communication Strategies: Strengthening and Maintaining the Relationship
- Two-Step Flow of Communication: Information flows from media to opinion leaders, then to the wider audience. Target opinion leaders (Core Advocates) to ensure the message reaches a wider audience.
- Communication Channels: Handwritten notes, personal❓ized real estate❓ advice, letters of recommendation, seminars and workshops, and providing leads to their businesses.
- Customer Appreciation Programs:
- “33 Touches” Program: A periodic contact plan.
- Referral Rewards: A system to track and reward referrals at each stage of the deal.
- Customer Relationship Management (CRM) Database: Should include personal information and details about past correspondence and transactions.
4. Measuring and Evaluating Effectiveness: Continuous Improvement
- Key Performance Indicators (KPIs):
- Number of referrals received from each inner circle.
- Referral conversion rate to closed deals.
- Average value of deals obtained from referrals.
- Cost of acquiring a referral.
- Retention rate of inner circles.
- SWOT Analysis: Evaluate the effectiveness of internal strategies.
- Surveys: Conduct regular surveys of inner circles to gather feedback.
- Continuous Improvement: Use data collected to adjust strategies and improve effectiveness.
5. Building a Distinguished Team: Ensuring Exceptional Customer Service
- Team training❓: Train the team to provide the same level of customer service. Training should include: Caring Attitude, Effective Communication, and Efficiency through Systems.
- Delegate tasks and use team members’ talents.
- Invest in employees and provide a positive work environment.
Chapter Summary
Building strong relationships with internal circle❓s is a fundamental strategy for increasing real estate referrals❓ because these groups already have a relationship or interest in real estate services, increasing the likelihood of referrals. Each category of internal circles has different needs and expectations, requiring customized handling strategies. Statistics from the National Association of Realtors (NAR) highlight the impact of real estate agent recommendations on buyers’ decisions regarding real estate-related service providers, emphasizing the importance of building strong relationships with allied resources. Exceptional customer service (“Wowing” customers) is key to turning former customers into loyal advocates, motivated to provide referrals. Client appreciation programs and referral rewards are important for motivating internal circles to continue providing referrals. A comprehensive database containing personal❓ information❓ and details about past correspondence and transactions is important for enabling the team❓ to provide more personalized and effective customer service. Cultivating internal circles requires a strategic and organized approach that includes identifying the different categories within these circles and understanding their needs. Building trust and loyalty through excellent customer service is the cornerstone of a successful internal circle cultivation strategy. Regular appreciation and accurately calculated rewards play a crucial role in maintaining the enthusiasm of internal circles to provide referrals. Database technology is essential for tracking relationships and transactions, personalizing communication, and providing better customer service. Real estate practitioners should allocate time and resources to building strong relationships with their internal circles and developing specific strategies for cultivating each category. Real estate teams should train their members to provide excellent customer service and use the database effectively to strengthen relationships with internal circles. Focusing on cultivating internal circles can lead to a significant increase in real estate referrals, leading to business growth and improved financial performance. Marketing strategies should include specific plans to communicate with internal circles and provide added value to them. The chapter focuses on effective strategies to strengthen relationships with “internal circles” to increase real estate referrals, identifying three main categories: Allied Resources, Advocates, and Core Advocates, and provides specific recommendations for cultivating each category.
