December 1, 2009 12:52 pm
Building a Relationship Management System
With Results Expert Micheal Burt
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The number one objective of this game is to get and keep customers. So, the question becomes; what is your strategy for getting and keeping customers?
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By building a “network” of people who think of you first when they think of your industry you begin to become “top of mind” therefore increasing the likelihood that those people will tell others about you when the opportunity arises. You need as many people telling as many people about you as you can have. This only happens intentionally when you seek to get new customers through a system that manages the relationships in your life. Remember the saying, “For every person you know, they know 200 people you don’t know.”
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Always remember, there are only 3 types of customers (Reichald) and they are: Promoters (those who love you and refer you), Passives (those who are lukewarm about the experience with you telling no one about the experience with you), and Detractors (those who detract from your perceived value in the market) based on their experiences with you. Strive hard to build Promoters, or what I like to refer to as Advocates, by advocating for others and moving the needle up the ladder as WOWING people in today’s market is increasingly difficult and easier at the same time. The Paradox is that some people are WOWED by little things while others require lots of attention.
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Look at this as a game, a game to accumulate the most relationships you can by adding value to as many people as you can in ways that make you unique, or stand out. To do this you must have an idea of what the “best” look like and what your competitors do on a weekly basis. Who are the people who have transformed your industry through by-passing some of the old, antiquated ways of doing business with new systems, new strategies, and new ideas? Some refer to this as “creative destruction- the washing out of old ideas with new innovative ideas.” The person with the most relationships WINS as they will be referred the most as the law of the harvest always wins, and it tells us that themore value we add to the world, the greater the reward we receive.
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Look at your Relationship Management System as organic, constantly growing, and something that you must tend to weekly and on an ongoing basis, not just every once in a while.
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We could divide the RSM system into 4 very simple tracks:
Track 1- The Advocate Track
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Create a list of 25 advocates (a person who values you and is a fan of your work)
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Touch these advocates 2x per month (minimal via e-mail or phone call)
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See these people FACE to FACE 4x per year
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Circulate “monthly” at a minimal of 2 events where your advocates circulate
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Once you accumulate 25, add 10 each time
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Use creative touches and a system to managing when you touch them (Constant Contact, Emma, etc.)
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Send a gift to your advocates and think of them in special ways as THEY are the LIFEBLOOD of your business. These people are your biggest fans.
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Have special parties for your advocates (Football, Fishing, anything) that puts people in your vicinity.
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Always have conversation with this group about their circles of influence who could use you.
Track 2- The New Sale Track
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Win and build new business with NEW sales.
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Add to your Relationship Management System
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WOW early and often by doing the UNEXPECTED. Remember to deposit TRUST into their Emotional Bank Account early.
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Touch 2x monthly via e-mail (Constant Contact)
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Touch 4x per year FACE to FACE
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Offer a gift 2x per year that is creative
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Always engage this group in conversation about people who could use your services that they know. This will create leads and lead you to “The Connection Game”
Track 3- The Connection Game- Influencers influence others
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Sit down and target 25 people you would like to know based on their success or influence.
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Contact those people and say “I would like to learn from your success.”
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Ask this question- “What breakthrough relationships do I need to cultivate to win” in life?
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Each week work one to two of these relationships. Plan weeks in advance as Movers and Shakers are busy.
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Add to your Relationship Management System.
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Touch 1x per month.
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See Face to Face 2x per year.
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Send Thank you gift after initial visit.
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Join a board, join the chamber, or join anything!!!! This is where more people get to know YOU.
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Always remember, every town is built on “Influencers.” Get to know them and your business will expand.
Track 4- Follow the Lead
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Ask this question- How do you generate Leads? Possibly through the above strategies but what do you do with those leads when you get them? Most leads are LOST in never never land.
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When you get a lead follow up promptly and quickly. Be prepared.
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Understand that 80% of sales happen after 7-15 contacts with the potential suspect.
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Understand that everyone goes through this cycle:
Suspects - Those who don’t know you
Prospects - Those who have had a conversation with you.
Clients - Those who are doing business with you.
Advocates - Those who like you.
Promoters for life - Those who love you and tell others.
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At each phase of the game you need a system. For example:
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How do you identify suspects? Demographics and psychographics.
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How do you go after suspects to make them prospects?
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How do you build a relationship based on value and not short term growth in this phase? How do you articulate your value proposition in a compelling way?
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How do you build advocates for life?
- What is your touch system for a lead? We don’t know when the lead will lead to anything, we just know that we must work the system and play the percentages.
- Add leads to your RMS.
- Touch 1x per week.
- Touch Face to Face if possible 3x per year.
- WOW from the beginning with your systems.
- Deposit into their Emotional Bank Account early and often.
- Stay in touch as you never know when they will pull the trigger.
The 9 Tiered System for Gravitating Business
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Showcase- Give me a reason to see YOU- Give away the FREE some to get the customized.
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Database- How do you “TOUCH” with value?
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Follow the Lead- Quick and professional
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Current Customers- Promoters for Life Strategy
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Targeted Networking- Go and see three people to build a relationship with- Let’s get coffee soon.
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Target 25- Build as many advocates as you can.
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Publicity- Be “Newsworthy” by being different and better
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Direct Mail- Thank you letters, promotional pieces, campaigns
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The Connection Game- Know the “influencers” as they influence business