So here’s the thing. Our telemarketing division makes calls on behalf of agents. Everything from cold prospecting calls, to database clean ups, even following up open homes.
And we just started working for a new agent. Their database was many years old, had varying degrees of contact over that time and was in a bit of a sorry state of repair.
So we do what we always do, and get straight to work. In 8hrs of calling, we generated 16 appraisal meetings. And not to blow my own horn, but that is pretty astounding. Telemarketing, like most marketing, is a numbers game. We can go 100 calls without an appraisal, but sometimes, the stars align and we get a great run. This was one of those times.
But the problem is, I’m not happy.
The reason I’m not happy is this – One of the calls we made, the person had sold their property just last month. Now this person has been sitting on this database for quite some time, receiving little love or attention. And look, I get it, we’re all busy trying to run businesses and dealing with the day to day stuff that gets in the way.
But it strikes me, like a knife through the spine, to know that here is someone, on this list, and had they received just a few calls a year. The odd letter, maybe a Christmas card. This seller would have been our agents. And let’s say the house was just $350,000 – at 3% commission, that’s over $10,000!
The cost to have the above touch points done, let’s say 4 calls and 4 letters per year, over 5 years – about $80.
I completely understand we have budget constraints, and time constraints as well. And I’m not even saying that you have to outsource. But if you look to spend just $80 per client, over 5 years, that’s just $16 per year, maybe the above wont be your story.