What you need to know about growing your business in this market.
Today, we’re here to discuss building a continuous business and momentum by focusing on your pipeline. Let’s start by considering some important numbers.
Last year, our volume reached $80 million, with 50% of that business coming from past clients, referrals, friends, and family. This year, our sales numbers have increased by 30% compared to last year, while our peers are experiencing a decline or leaving the business.
“Add people to your database and provide value while connecting with them.”
First, know that it’s crucial to build your pipeline every day by adding people to your database and providing value while connecting with them. One effective way to do this is through client appreciation events. You don’t need to spend a fortune; simply create opportunities to meet face-to-face and establish a personal connection. Oftentimes, we become anonymous and fail to communicate that we are full-time experts available to help.
The problem lies in relying solely on referrals. Only 50% of our business came from them. The other 50% came from actively pursuing and acquiring new business. It’s important to have a prospecting schedule and reach out to people every day, constantly adding new contacts to your database.
Another consideration is the need to continuously add people to your pipeline. Even if you have an existing database, people change circumstances, pass away, or move on, so you must constantly refill it. This applies to both veteran and new agents.
Lastly, there are three key things you should do with every client: educate them, inform them, and provide your perspective on the market. For example, by offering guidance, sharing stats, and providing our perspective, we hope to assist you in your business endeavors. If you’re struggling and unsure about what to say or how to approach clients, we’re available for a one-on-one discussion to help you make the necessary changes for success. Call or email us anytime.
