Senior Home Care Franchise Business driven by elders and seniors who want to live at home. Start your own home care business – Companion Connection Senior Care – Call David Goodman at (800) 270-6949.
A friend in real estate does no paid advertising to promote himself – only advertising about his listings — but has continuously built his business.
This is almost unheard of in an industry where marketing expenditures per agent are often 30 to 40% of revenue for a first-year agent and 10% of yearly revenue for established agents. How has he done it? Part of his secret is that he never misses a chance to ask for referrals. But the bigger reason is that he is a master at cross-marketing.
For example, his friends and clients recently received from him a letter recommending a pet-sitter. A few weeks later, they received another letter from him recommending a golf instructor. Next up: A flower shop. His clients know and trust him, and they know through experience that he always recommends someone whom he himself has used and been pleased with. That makes his letters genuine, believable and effective.
But why recommend a pet-sitter, golf instructor or florist? Here’s the key: He mails recommendations to his client list in return for others mailing recommendations of him to their mailing list. The result is that they get new business, and he gets new listings. (He also keeps his name in front of his clients, and that top-of-mind awareness generates referrals in itself.)
In doing cross-marketing, he sticks to some rules.
- He never recommends someone he isn’t absolutely confident in. (The quickest way to business failure, someone once said, is great advertising for a bad product.)
- He collaborates with his recommended businesses in preparing the letters to his clients, and they collaborate with him in preparing letters to theirs.
- And he finds businesses whose client demographics match up well with his.
- With more of his business coming from seniors who are downsizing, moving nearer to children and grandchildren or buying second homes or investment property, he hopes to partner with a travel agency on a mailing because such a high percentage of the travel agency’s clients are seniors.
- He says, “Business contacts are good for business.” (SCSA’s Senior Resource Alliances™ function on much the same principle.) His results prove it.