English
Activating Your Database
3.1. Importance of Activating the Database:
- increase❓ Return on Investment (ROI).
- Reduce Customer Acquisition Cost (CAC).
- Build long-term relationships.
- Improve marketing efficiency.
- Predict future trends.
3.2. Foundations of Activating the Database:
- Segmentation: Dividing the database into segments based on criteria (age, location, income, real estate interests, transaction history, referral sources).
Segment(DB) = {S1, S2, S3, ..., Sn}whereDBis the database, andSiis segment numberi.
- Personalization: Sending personalized❓ marketing messages based on individual customer information. Expectancy Theory is relevant.
- Consistency: Regular communication. The Law of Repetition applies.
- value❓ Proposition: Providing valuable content. Utility Theory is relevant.
- Interaction: Encouraging interaction. Social Exchange Theory applies.
3.3. strategies❓ for Activating the Database:
- Targeted email campaigns.
- Social media marketing.
- Content marketing.
- Referral programs.
ROI_Referral = (Revenue_Referral - Cost_Referral) / Cost_ReferralwhereROI_Referralis the return on investment for the referral program,Revenue_Referralis the revenue generated from referrals, andCost_Referralis the cost of the program.
- Events and seminars.
- Personalized phone calls.
3.4. Measuring and Evaluating Database Activation Results:
- Conversion Rate.
- Average Deal Value.
- Customer Lifetime Value❓❓ (CLTV).
CLTV = (Average_Deal_Value * Number_of_Deals_per_Year * Retention_Years) - Acquisition_CostwhereRetention_Yearsis the number of years of customer retention, andAcquisition_Costis the cost of acquiring❓ the customer.
- Customer Retention Rate.
- Net Promoter Score (NPS).
3.5. Practical Examples and Related Experiences:
- Case Study: A real estate company that applied segmentation and personalization to email messages saw a 30% increase in conversion rate and a 15% increase in average deal value.
- Experiment: A real estate agent who organized a free seminar on “How to Increase the Value of Your Home Before Selling” and invited database customers obtained 10 new potential customers and signed 3 sales contracts.
Chapter Summary
- The chapter aims to explain the importance of a database in real estate and how to build and activate it for lead generation success.
- A database is the foundation of successful real estate work and should be treated as a core company asset.
- The chapter covers strategies❓ for building an effective database, emphasizing gathering information from various sources, including current and potential clients❓, personal and professional contacts, and events.
- The database should be continuously updated with new information and corrections. Daily time should be allocated to enrich the database with valuable information.
- Regular and systematic communication❓ with the database is important, including email, text messages, phone calls, and social media, to provide valuable content.
- All potential clients should be treated with seriousness and attention, providing excellent service, meeting their needs and answering their inquiries.
- Building and activating a strong database is key to success in real estate.
- Daily time and effort should be allocated to feeding and updating the database.
- Regular and systematic communication is necessary to maintain strong relationships with potential clients.
- Excellent service to all potential clients helps build a good reputation and attract more clients.
- A strong and active database increase❓s the number of potential clients.
- Regular and systematic communication improves the conversion rate of potential clients to actual clients.
- Increasing actual clients and improving conversion rates increases revenues and profits.
- Excellent service to all potential clients builds long-term customer❓ relationships, leading to increased referrals and recommendations.
- Investing in building and activating a database allows real estate agents to achieve tangible results and increase their chances of success.
