What
is Permission Based Marketing (PBM)?
A
general definition is that a client or prospective client has given you
permission to market your material to him or her, and the permission is
obtained prior to sending of
that material.
Many
Agents have taken a "I have to because I'm forced to" approach to
PBM, while others have adopted a 'I want to" approach. The
question is, what does it mean to you to embrace the Permission Based
Marketing philosophy from a business perspective? Is PBM an asset to
be nurtured or a liability you will do your best to steer your way around?
"I
want to"
The philosophy is
founded on building a long term relationship with your clients or
prospective clients.
-
Gaining
permission to market is seen as valuable, because permission paves
the way for a long-term relationship that is filled with integrity
and respect for the permission being granted.
-
Your
Client or Prospective Client will see you as trustworthy because of
your respect for their wishes and your delivery according to those
wishes.
-
Interestingly,
a client who has given permission to receive your marketing material
will show resistance to marketing fatigue.
-
Also,
they will usually show you more loyalty, and this means that you
will be able to have a more productive marketing conversation.
Think
of it this way: have you ever subscribed to a newsletter or
magazine, or catalogue? If you have, you probably made sure that you
read it as soon as possible after it arrived, and scanned it for good
specials or discounts. Think of Wine Clubs, Myers, Home Catalogues
etcetera. As a subscriber, weren't you more likely to purchase
because the marketing was placed directly in front of you? Most of
us will say "yes" - wouldn't get it if I didn't ever want to buy
anything.
How
Much is a lifetime Client worth to You?
Want
to Know the Best Way to Keep Your Clients for Life?
For
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Okay,
so now you may feel more kindly towards PBM, what can you do to gain
permission from your elusive prospective clients?
Gaining
Permission
1.
Offer incentives for volunteering of information
For
example: hold a monthly competition that encourages people to
register their details. Let them know you would like their
permission to send a Newsletter and other Real Estate information and to
be able to advise them of the winner of the competition. This gives
you a reason to call them, using information you yourself have collected
(not from RPdata or ABR) and to begin to develop the relationship.
You
can advertise a competition with letter box drop fliers and newspaper ads,
and unless your prize is valued at more than $5000, or you are collecting
money (don't you dare!) you don't have to worry about licences or Gambling
Act etcetera.
2.
Form alliances with other small business owners
Why
not approach your local business' in your farm area, to provide the prize,
and in exchange you will advertise the business in your newsletter, fliers
and newspaper advertising. That way, they get free promotion that
can increase their business and you don't have any actual expenses for the
prize.
3.
Offer Free Insider Real Estate Reports valued at $xx
Make
a weekly report available to your farm, and become the guru in your
area. Don't make the mistake of sending out piles of valuable
information all in one hit! Help build the relationship by sending
out one report a week.
Now
you've got permission
Once
you have permission, be careful not to get flexible and assume that
because the person has given permission, you can send anything and
everything! They may give permission to receive a newsletter, but
not want to receive Just Listed or Just Sold information. They may
want Just Listed, but not a Newsletter. Be clear about what
permission you have and never assume that you can judge a person's
interests, attitudes or quality of relationship with you.
Of
course, always aim for email addresses to save time, money (paper,
printing, stamps) and increase speed of response time.
Don't Blow
It!
Changes
to Privacy Laws have occurred world-wide, not just in Australia. In
fact, on August 6, 2003, Inman News reported that a newly instigated
"Do-Not-Call" Registry (in the United States) had registered 30
MILLION people since it's inception on June 27, 2003! Amazing, isn't
it? 24 million had registered via the Internet and the other 6
million by phone.
So,
having seen this happen overseas, it's quite likely that it could happen
in Australia, if the public demand is there. For those of you who
don't know, the Australian Direct Telemarketers Association does already
have a Do Not Call Registry that applies to member companies of ADTA.
All Direct Telemarketing companies that are members of ADTA are required
to comply with requests and delete an individual from their database, when
they are advised of the individual's particulars by ADTA.
Right
Now
The
overarching benefit of making changes that will benefit your business and
your clients, is that people pay more attention to advertising that they
have consciously selected. Help them to select yours, and then
reward them for it! I trust you can now see that PBM is an asset to
be nurtured.
Need
more information or help to put Your PBM together?
Call
or email: pbmprogramme@saleschampions.com.au
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