Building Sustainable Relationships: 8x8 and 33 Touch Plans

Building Sustainable relationships❓: 8x8 and 33 Touch Plans

Building strong and sustainable relationships with potential and existing clients is crucial for long-term success in the competitive real estate world. These relationships rely on trust, credibility, and providing real value to clients. The 8x8 and 33 Touch plans are effective strategies for building these relationships.

1. Theoretical Framework: Social Psychology and Relationship Building

The 8x8 and 33 Touch plans are based on principles of social psychology, specifically in the areas of persuasion, influence, memory, and repetition.

• Mere-Exposure Effect: People tend to develop a preference for things they are exposed to repeatedly. Increased exposure to your name and brand increases the likelihood of recall when real estate services are needed.
• Social Exchange Theory: Human relationships are based on cost-benefit analysis. Providing value to the client creates a sense of obligation to reciprocate, either through direct dealings or referrals.
• Priming Effect: Exposure to a stimulus can influence a person’s response to a subsequent stimulus. Regular communication primes the client to think of you as a trusted real estate expert.

2. 8x8 Plan: Strong First Impression and Focused Follow-up

The 8x8 plan is an intensive follow-up program designed for new potential clients, aiming to build a strong relationship in the first eight weeks. It focuses on providing added value and establishing your name as a real estate expert.

• Purpose: To convert potential clients into actual clients by building trust and providing valuable information.
• Structure: The plan consists of 8 touches distributed over 8 weeks.
• Components of the 8x8 Plan for Potential Clients (Sellers):
  1. Week 1: Handwritten thank you note + market report + business card.
  2. Week 2: Local market statistics.
  3. Week 3: Local market statistics.
  4. Week 4: Phone call: “Hello, did you receive the market report? How are your efforts to sell your home going?”
  5. Week 5: Free report (example: “10 Common Mistakes Sellers Make”).
  6. Week 6: Advice on real estate investment or home maintenance.
  7. Week 7: Practical gift (notepad or refrigerator magnet) bearing your name and logo.
  8. Week 8: Phone call: “Do you have any questions? Quick reminder: if you know anyone who wants to buy or sell a home, please share their name with me.”

• Basic Equation for the 8x8 Plan:
  Impact = Frequency * Value

  Where:

  • Impact: The impact of the program on the potential client.
  • Frequency: The number of contacts (8 times).
  • Value: The added value you provide in each contact.
  • Practical Examples:
  • Customize market report content to suit the client’s area or type of property they are interested in.
  • Instead of sending a general report, send a comparative analysis of prices of similar homes in the area.
  • In phone calls, listen attentively to the client’s needs and provide customized solutions.

3. 33 Touch Plan: maintain❓ing and Strengthening the Relationship Throughout the Year

The 33 Touch plan is a long-term follow-up program designed to maintain continuous communication with potential, current, and former clients. This plan aims to solidify your position as a trusted real estate expert and obtain referrals.

• Purpose: To build strong, long-term relationships and increase the chances of getting referrals.
• Structure: The plan consists of 33 touches distributed throughout the year.
• Basic components of the 33 Touch plan:
  1. 14 varied contacts: Emails, introductory messages, newsletters, market reports, “Sold/Listed” cards, food recipes, real estate alerts, real estate news, community events, invitations, service guides, promotional materials.
  2. 8 thank you or “thinking of you” cards.
  3. 3 phone calls.
  4. 4 personal greeting cards: Birthdays, anniversaries, Mother’s Day, Father’s Day, graduation, home purchase anniversary.
  5. 4 holiday greeting cards: Thanksgiving, Independence Day, etc.

• Mathematical formula to evaluate the effectiveness of the 33 Touch plan:

  ROI = (G - C) / C

  Where:

  • ROI: Return on Investment.
  • G: Total revenue generated from clients targeted by the 33 Touch plan.
  • C: Total costs associated with implementing the 33 Touch plan (including marketing costs, time, and effort).

  The return on investment should be positive to ensure the effectiveness of the plan.
  * Practical Examples:
  * Sending a personal email to the client on their birthday.
  * Sending a report on the performance of the real estate market in the area where the client lives.
  * Inviting the client to attend a community event sponsored by your company.
  * Offering the client a special discount on your services if they refer a new client.

4. Customizing Plans: Flexibility and Adaptation to Client Needs

It is important to adapt the 8x8 and 33 Touch plans to suit the needs of different clients. For example, the 33 Touch plan can be customized for clients who prefer communication via email instead of phone calls.

• Customer segmentation: Divide the customer database into subgroups based on criteria such as:

  • Type of relationship (potential client, current client, former client).
  • Interests and needs.
  • Preferred method of communication.

• Content modification: Modify the content of messages and reports to meet the needs of each subgroup.

• Timing adjustment: Adjust the timing of messages and calls to suit the client’s schedule.

5. Measuring Results and Improving Performance:

To ensure the effectiveness of the 8x8 and 33 Touch plans, it is necessary to measure results and analyze data regularly.

• Key Performance Indicators (KPIs):

  • Conversion Rate: The percentage of potential clients who become actual clients.
  • Number of Referrals: The number of new clients obtained through referrals.
  • Customer Satisfaction: The level of customer satisfaction with your services.
  • Return on Investment (ROI): As mentioned previously.

• Data analysis: Analyze the data to identify the strengths and weaknesses of your plans.

• Continuous improvement: Based on data analysis, modify your plans to improve performance and increase return on investment.

6. Ethical and Legal Dimensions:

When implementing the 8x8 and 33 Touch plans, it is important to adhere to ethical and legal rules.

• Obtaining consent: Make sure to obtain the consent of clients before adding them to the email list or contacting them.

• Transparency: Be transparent about the purpose of the communication and how their information will be used.

• Compliance with laws: Comply with data protection and privacy laws in your country.

Conclusion:

The 8x8 and 33 Touch plans are powerful tools for building sustainable relationships with clients in the real estate field. By understanding the scientific principles underlying these plans and adapting them to suit the needs of different clients, you can achieve tangible results and increase the chances of long-term success. Remember that building relationships requires patience, perseverance, and a commitment to providing real value to clients.