Systematic Contact & Targeted 8x8 Plans

Chapter 3: Systematic Contact & Targeted 8x8 Plans

Introduction
This chapter delves into the science and strategy behind creating and implementing systematic contact plans, specifically focusing on the “8x8” concept. The 8x8 plan is a structured approach to nurturing new leads over an eight-week period with eight targeted interactions. Effective implementation of these plans hinges on understanding key marketing principles, communication theories, and customer relationship management (CRM) strategies. This chapter will cover the theoretical underpinnings, practical implementation, and customization of 8x8 plans to convert leads into loyal clients.

The Science of Systematic Contact: Psychological and Marketing Foundations

1. The Mere-Exposure Effect (Familiarity Principle):

   • Description: This psychological phenomenon, also known as the familiarity principle, posits that people develop a preference for things merely because they are familiar with them. Repeated exposure, even without interaction, increases liking and trust.
   • Mathematical Representation (Heuristic): While not directly quantifiable with a precise equation, the effect can be conceptualized as a monotonically increasing function where exposure (E) is the independent variable and perceived trustworthiness (T) or favorability is the dependent variable, up to a saturation point:
     T = f(E), where f’(E) > 0 for E < E_saturation. Beyond E_saturation, increased exposure may lead to diminishing returns or even negative effects (e.g., annoyance).
   • Application in 8x8: Each touch in the 8x8 plan increases familiarity. Regular emails, phone calls, or mailers containing your name and branding subtly increase the lead’s comfort level and association with you.

   • Experiment: A/B test two groups of leads. Group A receives a standard 8x8 plan. Group B receives only four touches. Track brand recall and conversion rates at the end of the eight weeks. The prediction based on the mere-exposure effect is that Group A will exhibit higher brand recall and conversion rates.
     2. The Reciprocity Principle:

   • Description: A fundamental social norm where people feel obligated to repay others for what they have given them. Providing value upfront triggers this sense of obligation.

   • Application in 8x8: Providing valuable content like market reports, free guides, or helpful tips in each interaction leverages reciprocity. The FSBO packet, for example, offers immediate value.
   • Mathematical Consideration: Perceived Value (PV) of a “gift” directly impacts the strength of reciprocation. The greater the perceived value (relative to the recipient’s needs and expectations), the stronger the feeling of obligation (O):
     O ∝ PV

   • Experiment: Compare two 8x8 plans: one providing generic content versus one providing hyper-local market data tailored to the lead’s neighborhood. Measure engagement (e.g., open rates, click-through rates) and conversion rates. The tailored content plan should yield higher engagement due to increased perceived value.
     3. Communication Theories:

   • Two-Step Flow Theory: This theory suggests that information flows from mass media to opinion leaders, who then disseminate it to their followers. Identifying and influencing key individuals (e.g., community leaders) can amplify the impact of your 8x8 efforts.

   • Elaboration Likelihood Model (ELM): This model explains how attitudes are formed and changed. It proposes two routes to persuasion: the central route (careful consideration of information) and the peripheral route (influence by superficial cues). An effective 8x8 plan should utilize both routes: provide valuable data and statistics (central route) while maintaining a professional and trustworthy image (peripheral route).
     Central Route Persuasion Probability (CRPP) = f(Argument Strength, Motivation, Ability)
     Peripheral Route Persuasion Probability (PRPP) = f(Source Credibility, Positive Association, Number of Arguments)
   • Application: Craft content for both the central and peripheral routes. Use data-driven market analysis and highlight expertise to appeal to the central route. Design visually appealing materials and use testimonials to leverage the peripheral route.

Creating Targeted 8x8 Plans: Customization and Segmentation

1. Importance of Segmentation:

   • Theory: Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics. This allows for more targeted and effective marketing efforts.
   • 8x8 Application: Tailoring 8x8 plans to specific lead sources (FSBOs, expired listings, prospective buyers) significantly improves effectiveness. A generic 8x8 will be less effective than a plan addressing the specific pain points and needs of each segment.
   • Segmentation Variables:
     • Demographic (age, income, location)
     • Psychographic (values, lifestyle, interests)
     • Behavioral (past purchase behavior, engagement level)
     • Geographic (farm area, relocation status)

   • Experiment: Create two 8x8 plans for prospective buyers: one generic plan and one tailored to first-time homebuyers. Track engagement metrics (e.g., appointment scheduling) and conversion rates. The tailored plan should outperform the generic one.
     2. Customization Strategies:

   • FSBO Plans: Focus on providing value related to pricing, marketing, and negotiation. Address common FSBO challenges and offer solutions. The “Five Deadly Mistakes” series directly addresses these pain points. Prioritize face-to-face interaction.

   • Expired/Withdrawn Listing Plans: Emphasize speed and urgency. Highlight your expertise in selling properties that didn’t sell previously. Provide a detailed marketing plan and demonstrate an understanding of why the property didn’t sell. Shorten the 8x8 timeframe to days, not weeks.
   • Buyer Follow-up Plans: Educate buyers about the market and demonstrate your ability to find them the right property. Build trust and rapport by providing valuable market insights and answering their questions.

   • Mathematical Consideration: Personalization Index (PI). This index reflects the degree of customization in an 8x8 plan.
     PI = (Number of Tailored Elements / Total Number of Elements) * 100
     *Higher PI values suggest more targeted and potentially more effective plans.
     3. Content Strategy:

   • Value Proposition: Clearly define the value you offer to each segment. Each touch should reinforce this value proposition.

   • Call to Action (CTA): Each interaction should have a clear call to action, guiding the lead towards the next step in the sales process (e.g., schedule a consultation, download a report).
   • Content Mix: Balance informative content with promotional content. Focus on providing valuable information that helps the lead solve their problems.
   • Experiment: Compare two buyer follow-up 8x8 plans: one with a focus on market statistics, and the other with a focus on lifestyle and neighborhood amenities. Analyze which plan generates more qualified leads based on stated preferences and buying criteria.

Implementation and Optimization

1. CRM Integration:

   • Importance: A CRM system is crucial for managing and tracking 8x8 plans. It allows you to automate tasks, schedule interactions, and track lead engagement.

   • Key Features:

     • Task Management: Assign tasks to team members and set reminders.
     • Contact Management: Store lead information and track interactions.
     • Email Marketing: Send automated emails and track open rates and click-through rates.
     • Reporting: Generate reports to track the effectiveness of 8x8 plans.
       2. Tracking and Measurement:

   • Key Performance Indicators (KPIs):

     • Conversion Rate: Percentage of leads that become clients.
     • Engagement Rate: Open rates, click-through rates, and response rates.
     • Cost Per Acquisition (CPA): The cost of acquiring a new client.
     • Return on Investment (ROI): The return on investment for each 8x8 plan.
   • Mathematical representation:
     Conversion Rate = (Number of Clients Acquired / Number of Leads) * 100
     ROI = (Revenue Generated - Marketing Cost) / Marketing Cost

   • A/B Testing: Continuously test different elements of your 8x8 plans (e.g., subject lines, content, call to actions) to optimize performance.
     3. Continuous Improvement:

   • Feedback Loop: Collect feedback from leads and clients to identify areas for improvement.

   • Data Analysis: Analyze your KPIs to identify what’s working and what’s not.
   • Iteration: Continuously iterate on your 8x8 plans based on data and feedback.
   • Application: Note explicitly in your CRM what specific topics, times or value points seem to resonate with particular leads and their specific situations, and then use that information to optimize your future messaging.

Conclusion

Systematic contact through targeted 8x8 plans is a powerful strategy for nurturing leads and converting them into loyal clients. By understanding the underlying psychological and marketing principles, customizing plans for specific segments, and continuously tracking and optimizing performance, real estate professionals can significantly improve their lead generation and conversion rates. The key is to view the 8x8 not as a rigid template, but as a flexible framework that can be adapted and refined to meet the unique needs of each lead and the ever-evolving market. Remember to transition leads completing the 8x8 program to a longer-term nurturing campaign, such as a “33 Touch” plan, to maintain engagement and solidify relationships.