Systematizing Lead Follow-Up with 8x8

Chapter: Systematizing Lead Follow-Up with 8x8

Introduction: The Science of Systematic Lead Nurturing

In the competitive landscape of real estate, converting leads into loyal clients hinges on effective and consistent follow-up. The 8x8 contact strategy provides a structured framework for nurturing new leads over an initial eight-week period, aiming to establish a strong relationship and position you as the go-to expert. This chapter delves into the scientific principles underpinning the 8x8 system and explores how 8x8 can be systematized using 8x8, maximizing its impact. We’ll examine the psychological foundations of relationship building and the application of marketing principles to optimize lead conversion.

1. The Psychological Basis of the 8x8 Strategy

The 8x8 strategy is rooted in established psychological principles of memory, familiarity, and relationship building.

• The Mere-Exposure Effect (Zajonc, 1968): Repeated exposure to a stimulus (in this case, you and your brand) increases the likelihood of a positive evaluation. This phenomenon, also known as the familiarity principle, suggests that consistent contact, even if brief, fosters a sense of trust and recognition. The 8x8, through its multiple touches, leverages this effect.

  • Experiment: Imagine a scenario where two prospective clients are presented with information about two real estate agents. Client A receives a single email from Agent X. Client B receives the full 8x8 campaign from Agent Y (emails, calls, mailers). After eight weeks, Client B is statistically more likely to remember Agent Y and associate them with real estate services due to the repeated exposure.

  • The Reciprocity Principle (Cialdini, 1984): People feel obligated to return a favor or act of kindness. By providing value through market reports, advice, and helpful information within the 8x8 framework, you trigger a sense of reciprocity in the lead, making them more receptive to your services.

  • Mathematical Representation (Simplified):

    • Let V be the value provided to the lead in each touchpoint.
    • Let n be the number of touchpoints.
    • Total perceived value TV = ΣV_i (sum of value at each touchpoint i from 1 to n). A higher TV increases the probability of reciprocity.
  • Building Trust through Consistency: A predictable and consistent communication schedule builds trust. Random or infrequent contact can appear unprofessional and unreliable. The structured nature of the 8x8 conveys professionalism and commitment.

2. Structuring the 8x8 System within 8x8: A Step-by-Step Guide

8x8 offers functionalities that directly enable the systematization of the 8x8 contact strategy. Here’s how to leverage them:

1. Segmentation and List Management:

   • Targeted Messaging: The key to a successful 8x8 is relevance. Utilize 8x8 features to segment leads based on source (FSBOs, expired listings, open house attendees, etc.).
   • Customized 8x8 Plans: Create different 8x8 workflows for each segment, tailoring the message and content to their specific needs and pain points. For example, a FSBO 8x8 will differ significantly from a prospective buyer 8x8.
     • FSBO (For Sale By Owner): Highlight the complexities of selling independently.
     • Expired/Withdrawn Listings: Focus on reasons the previous listing failed and showcase your unique selling proposition.
     • Prospective Buyers: Offer market insights and guidance on the buying process.
   • Formula for Segmentation Effectiveness:
     • Let S be the level of segmentation (e.g., 1 for basic, 2 for advanced).
     • Let R be the relevance of the message to the recipient (scale of 0 to 1).
     • The effectiveness E of the campaign can be modeled as: E = S * R. Higher segmentation combined with higher message relevance leads to greater effectiveness.

2. Automated Workflow Creation:

   • Triggers and Actions: Use 8x8 automation features to trigger the 8x8 sequence when a new lead is added to a specific segment.
   • Scheduled Tasks: Set up automated tasks for each touchpoint in the 8x8 plan (e.g., send email, make call, send direct mail).
   • Task Queues and Reminders: Assign tasks to team members and configure reminders to ensure timely execution.
   • Example Workflow:
     1. Lead enters the system through an online form.
     2. Lead is automatically tagged as “Prospective Buyer - Open House.”
     3. This tag triggers the “Prospective Buyer 8x8” workflow.
     4. Week 1: System automatically sends a personalized “Thank You” email with a market report.
     5. Week 2: System creates a task for a team member to call the lead and follow up.
     6. Week 3: System sends another automated email with market stats.
     7. (Continues through all eight weeks)

3. Content Management and Personalization:

   • Template Library: Create a library of email templates, call scripts, and direct mail pieces for each 8x8 segment.
   • Dynamic Content: personalize content❓ using merge fields (e.g., lead’s name, property address) to increase engagement.
   • A/B Testing: Experiment with different subject lines, email content, and call scripts to optimize performance. Track metrics like open rates, click-through rates, and conversion rates.
   • Example A/B Test:
     • Two email subject lines are tested for Week 1: “Welcome to [Your Team]!” vs. “Your Personalized Market Report Awaits.” Track which subject line yields a higher open rate.

4. Tracking and Analytics:

   • Key Performance Indicators (KPIs): Define specific KPIs to measure the success of your 8x8 campaigns, such as:
     • Conversion Rate: Percentage of leads who become clients.
     • Engagement Rate: Open rates, click-through rates, and call response rates.
     • Lead Response Time: Time it takes to respond to a new lead.
   • Reporting Dashboards: Utilize 8x8 reporting tools to track KPIs and identify areas for improvement.
   • Attribution Modeling: Determine which touchpoints are most effective at driving conversions.
     • Attribution Model Example: Assign different weights to each touchpoint in the 8x8. A model might give higher weight to the initial phone call and the final follow-up call.

5. Integration with CRM Systems:

   • Data Synchronization: Integrate 8x8 with your CRM system to ensure seamless data flow between platforms.
   • Centralized Lead Management: Maintain a comprehensive view of all lead interactions and track their progress through the sales funnel.
   • Improved Collaboration: Enable team members to access lead information and collaborate on follow-up efforts.

3. Tailoring the 8x8: Customization and Adaptability

While the 8x8 framework provides a solid foundation, it’s essential to tailor it to your specific business and target audience.

• Experimentation and Iteration: Don’t be afraid to experiment with different contact methods, content, and timelines. Continuously analyze your results and make adjustments to optimize performance. The core idea is for you to be systematic as you make contact.
• Adapting to Lead Behavior: Monitor lead behavior (e.g., website visits, email opens) and adjust your follow-up strategy accordingly. If a lead shows strong interest in a particular property, prioritize a personal phone call to discuss their needs.
• Extending or Shortening the Timeline: While the standard 8x8 is eight weeks, you can adjust the timeline based on the lead’s characteristics. For example, an expired listing may require a more aggressive approach with a shorter timeline (as noted in the provided document), while a longer nurturing period might be appropriate for a new online lead.
• Mathematical Representation of Timeline Adjustment:
  • Let T be the original timeline (8 weeks).
  • Let A be an adjustment factor based on lead behavior and segment (e.g., -2 for expired listings, +4 for general inquiries).
  • The adjusted timeline T_adjusted = T + A.

4. Transitioning to the 33 Touch Program

The 8x8 program is designed to initiate and accelerate the relationship-building process. Once a lead completes the 8x8, they should be transitioned to a longer-term nurturing program, such as the 33 Touch program (mentioned in the provided document). This ensures continued engagement and reinforces your position as a trusted advisor.

• Maintaining Consistent Communication: The 33 Touch program involves a series of planned interactions throughout the year to stay top-of-mind with your contacts.
• Providing Ongoing Value: Continue to provide valuable content, market updates, and personalized communication to maintain engagement.
• Tracking Relationship Strength: Use your CRM system to track relationship strength and identify opportunities for further engagement.

5. The Importance of Detailed Note-Taking

The provided document highlights the crucial importance of detailed note-taking for each touchpoint. This practice significantly enhances the personalization and effectiveness of future interactions.

• Creating a Comprehensive Lead Profile: Detailed notes provide a rich understanding of the lead’s needs, interests, and pain points.
• Personalized Follow-Up: Referring to previous conversations and asking relevant questions (e.g., “How did your daughter’s recital go?”) demonstrates genuine interest and strengthens the relationship.
• Data-Driven Decision Making: Analyzing notes can reveal patterns and insights that inform future follow-up strategies.
• Formula for Personalization Impact:
  • Let P be the level of personalization (based on notes).
  • Let I be the impact of personalization on lead engagement.
  • We can model I as a function of P, with a positive correlation. I = f(P) where dI/dP > 0. As the level of personalization increases, the impact on engagement increases as well.

Conclusion: Mastering Lead Conversion with Systematized 8x8

Systematizing your lead follow-up with 8x8 allows you to leverage the power of consistent, targeted communication to build strong relationships and convert leads into loyal clients. By understanding the psychological principles underpinning the 8x8 strategy and utilizing the features offered by 8x8, you can create a streamlined and effective lead nurturing process. Remember to continuously experiment, adapt, and personalize your approach to maximize your results and stay ahead in the competitive real estate market. Effective use of 8x8 will position you as the “Number One” choice in your contact’s mind.