In last week’s AIC episode I did a critique of a video that was submitted by one of our members.
If you didn’t see it here’s the link: https://agentinnercircle.com/today-i-critique-an-agents-video/
It was an interview that Lily Ruggy of Keller Williams did introducing the owner of a new coffee shop in her town.
Partner with Businesses You Know
By itself this is a great way to generate exposure for both the local business and Lily. However, by applying some strategic thinking, you can really amp this process to generate not only exposure, but new clients as well!
What I am going to share with you is a strategy that is traditionally done using a mail campaign, which works brilliantly by the way, but it will cost you postage vs. leveraging simple-to-do video and social media – which cost you relatively nothing
Either approach is powerful and you need to decide which will work best for you.
Step 1 – identify compatible businesses in your area that already have a relationship with clients that could be compatible to yours (or might even be your clients already)
Then ask yourself: “Who else in a compatible business has already established trust from a list of clients who could further benefit from my services or business?”
The main ingredient here is to find service providers that have clients that match the markets that you serve the most.
It’s important that they have a formal list of their clients, or a method that they communicate with them e.g. email or mail list, via social media in a group or page etc.
The reason this is important is because you’ll be formulating a special offer to send to this list – we’ll get into that in a moment.
Some compatible businesses could be:
- Title company
- Mortgage broker
- Insurance broker
- Chiropractor, veterinarian, other professionals that deal with the public
- Painter, contractor, plumber etc.
Once you have made your list it’s time for the next step … approaching them with your Strategic Alliance Promotion!
Step 2 – This is where you need to approach the service provider(s) with your proposition and frankly, they should welcome you with open arms because this will mean more business for them AND you.
Here are some of the points/benefits you will convey to them:
- You have an idea for cross-promoting one another to your respective client base which could potentially immediately generate more business for both of you (a ‘strategic alliance’).
- Your product/service is compatible – it does not compete with theirs.
- This works because of the trust that you have both respectfully developed with your clients – this trust will in fact help generate even more clients.
- This proposition will NOT take away any revenue/profits that they normally receive form these clients, it should actually INCREASE their revenues and client base.
- If you go the mail campaign route – you will both split the costs of printing/mailing
- If you go the social media route – you will create the videos/posts that will run on both your respective social media platforms e.g. Facebook, YouTube etc.
- You will create the marketing materials/videos
- You will agree to unconditionally guarantee your services to their clients and vice-versa
- You will each agree to indemnify and hold the other harmless against any problems as a result of the offers.
- Start with a small test sample of clients before going “guns a’blazing” to the entire list.
If this business is interested, and again they should be jumping at the opportunity, then you proceed to Step 3 – your Special Offer.
Step 3 – As you craft your special offer keep in mind that it must be something of great appeal to your mutual clients and easy for them to understand … and even easier to take advantage of.
Here are some things to consider:
- If you are going the direct mail route then the offer will probably be in the form of a personalized letter from the strategic alliance business (other person) to his/her clients. It’s important to have a personalized letter. You can accomplish this by using your database and mail merge capabilities – it’s very easy.
- If you choose the Social Media route your offer will be the same except you’ll be doing this in video versus print.
- Your offer must be SPECIAL and EXCLUSIVE to the clients/customers it’s intended for. And, it truly must be a special bargain or offer for them to even consider it. But, how much would you be willing to spend to generate a client? You should be willing to spend a lot!
- Clearly explain the offer: a free trial, a free consultation, free report, free valuation, discount on your first purchase. Your offer must be strong enough for them to want to try it. And make it easy to understand.
- Tell WHY you are making the offer. Give them the reasons why they’re so special, you’re making them a special offer. What circumstances have created this opportunity?
- The offer must be LIMITED. That is, it must be a one-time offer, or available for a limited time.
Your offer must be RISK-FREE for your clients to consider it. Therefore, it must contain a guarantee of satisfaction. The stronger the guarantee, the better.
Step 4 – Now you need to create some sort of “response device” like a postcard, coupon code, letter – something that these clients can use to reply to your offer.
You also want to make sure that you create “urgency” with this special offering – meaning that it is only available for a limited time e.g. 30 days.
I’ve even got a free sample letter for you! It’s an example, and just shows you a sample of what your letter could look like to your clients. Then, you can draft one “from” your Strategic Partner, and provide it to them to edit and send to their list. Just click here to download your FREE LETTER!
After you have sent out your first offer (assuming you are going the direct mail route vs. video) you need to follow-up a week later with another mailing as a reminder, that they only have “X number of days left to take advantage of this special offer – Don’t Miss Out On This Special Opportunity To Get…”
Step 5 – Gather ALL the names and enter them into your database and also try to get all the names that your alliance partner has received also.
The important thing now is to make sure you follow-up, deliver on your promise and stay in touch on a regular basis.
Maybe they replied to your Special Home Evaluation – let’s pretend that’s what you offered – and they aren’t ready to buy/sell just yet. That’s ok because now you have a new lead that you have made an actual connection with, which is one more potential lead you will be drip mailing/emailing to.
Strategic alliances are a great, low-cost approach to generating customers now, and future clients. But remember, this ONLY works if you do the work- you have to make a point of delivering on your promises, getting those names into your database … AND … consistently following up and staying in touch. Want to know more about a great system for following up every month with all those leads and clients in your database? Check out Service For Life!- http://www.serviceforlife.com/