What Does A Real Estate Agent's Open House Have Anything To Do
With Internet Marketing?
Most everyone is familiar with open houses held by real estate
agents. If you live in a fairly urbanized area, canvassing your
neighborhood on any weekend and chances are you'll find at least
one open house somewhere in your neighborhood.
What is the purpose of the open house? And did you ever wonder
why some real estate agents always try to get your name and
contact information when you attend their open house? Take this
little quiz and see if you understand the purpose of the open
house.
A real estate agent hold an open house to: a) Have a party in
the neighborhood. b) Give out candies and cookies just to be
friendly. c) To socialize and "get to know" the neighbors. d) To
collect names and contact information of all visitors so he can
follow up later on to sell them homes.
If you answered (d), you are absolutely correct. Most people who
come to an open house do not buy on their first visit.
Nevertheless, a good agent will collect all names and contact
information of his visitors during an open house. The agent
usually has some incentive for the exchange of these names and
contact info. He might give away a homebuyer's magazine, a
magnetic calendar, or offering a free market analysis of a
visitor's home.
Why would the agent want to collect their names and phone
numbers? Because he/she can follow up with these visitors down
the road and try to sell them later on. He might have to keep in
touch with his visitors over a period of time, but the end
result is worth it. Statistically, some will end up buying or
selling from the agent. The key to receiving big commission
checks month after month is building a pipeline of prospects
(database) by collecting all names and phone numbers of all the
visitors who come to the open house.
In the virtual real estate world there is no difference. Most
people who come to your site the first time will not buy. A
small number of people will buy on their first visit, but this
is an exception, not the rule. Research shows that it takes an
average of seven contacts before someone will buy a product or
service. During this time it is all about building trust. It is
true - people do business with those they trust. The first key
to building trust is simply asking for your prospect's name and
email address.
So what's the best way to get surfers to give you their email
addresses? Simple - set up an autoresponder account. An
autoresponder captures a visitor's name and email address and is
usually managed by a third party server (you can also surf the
net to find some autoresponder scripts that you can install and
manage it yourself directly on to your site, but this is not
recommended.)
Wanna make it enticing for your visitors to submit their email
addresses? Give away something valuable such as a free report,
ebook, or even a mini ecourse that is relevant to the product or
service you're trying to sell.
Like a good real estate agent does to his list of potential
clients, you can follow up and start building trust with your
visitors. A mini ecourse is an excellent way to do this. You can
set up your autoresponder to systematically send to your list
periodically (i.e., one lesson every 3 days). Eventually, some
will buy. If your free offer is compelling enough, it is not
hard to get a 10% subscription conversion from your visitors.
Let's say there are 100 visitors who come to your site every
day, 10 will sign up in exchange for the freebies. At this rate
in one year you will have a total of 3600 email addresses in
your database. You can then market to your list any way you
want. You can send an eblast to all, or your preferred customers
only with a special offer of a new product (a sequel?). You can
also do any backend marketing that relates to the initial
product. You can also do affiliate marketing by other internet
marketers.
To look at the potential kind of money you can make, let's say
that you send out an e-blast to your list announcing a new
product and the product is worth $97, but because of the special
promotion, it'll be $57 for a limited time. Assuming that 4%
will convert into buyers, 144 will buy (3600 x .04 = 144). This
will net you $8208 (144 x 57 = 8208), not a bad salary for just
"broadcasting" to your list. Of course, this is not the end. You
can make money again and again by offering other products, not
necessary your own.
To recap, making money in the virtual world isn't rocket
science. A good internet marketer's first and foremost important
task is similar to that of a good real estate agent - capturing
his or her visitors' names and contact info. When all else
fails, remember rule number one: ALWAYS have a tool to capture
email addresses. In fact this is so important I'm gonna have to
make it a mantra for you. Please repeat after me: * I SHALL
ALWAYS CAPTURE ALL MY VISITORS' EMAIL ADDRESSES. * I SHALL
ALWAYS CAPTURE ALL MY PROSPECTS' EMAIL ADDRESSES. * I SHALL
ALWAYS CAPTURE ALL MY PROSPECTS' EMAIL ADDRESSES.
Got it! Good.
Create a wonderful day,
Alex Nguyen
The Internet Goto Guy
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