Just a quick post to hopefully enlighten some about the benefits of fusion marketing. In fact, you may already be practicing it and don't even know it.
Essentially, it is the collaboration of two like, but not competitive, businesses.
A great example for the real estate industry is an agent and loan officer teaming up. The agent refers all their buyer leads to the loan officer and the loan officer refers all their buyers/sellers to the agent.
Just remember to choose a business that has similar values. You don't want to recommend or collaborate with a bad company. Do you homework before you decide who to participate with. (This is one of the major flaws I see in this giant business networking groups. Don't just assume that because you met someone, one time, at a meeting, they are great at what they do.)
Not only is it beneficial to refer leads, but you can also combine databases. If you understand how to successfully market to a database to cultivate new and repeat business, this will substantially increase both businesses bottom lines. Plus, you can then split the cost and save marketing $$$.
This is a great addition to your marketing plan. If you were already doing it, now you need to start growing that relationship and making it as profitable as possible.
Thursday, September 30, 2010
Monday, September 13, 2010
Why NOT to work harder...Follow me! Step 5 - Business Plan
**Read Intro Blog Post Here**
It's been a while, I know. Hopefully we've all completed the branding stage. It's very important and can be time consuming. I have my logo set and have come up with an idea for the new website. I was stuck on this for a while, I didn't want to commit to a design until I new it was perfect. Now, I just have to format and get it online as well as structuring the same identity onto all marketing material. The way your potential clients see your business is so very important and I've taken a lot of time on this step to make sure it's just right.
Now that we've completed the branding stage, we need to seriously consider our business plan. Most people just jump in and get started. They never set goals, run numbers, looks at their competition or anything. VERY RISKY. Probably why most businesses fail.
Click Here to check out TC's basic business plan outline. Start writing. Start thinking. Start proving to yourself and to anyone who reads it, that you're business can and will succeed. If you can't do that, you need to do some more work. Don't waste time, effort and energy in a flawed service or business.
As an agent, what makes you different than every other agent? It's a hard business to stay productive in, especially with this market. How are you going to do that?
A lot of real estate is in who you know. WHO DO YOU KNOW and how are they going to help you? Where are new leads going to come from? What marketing works best?
How much do you expect to make and how much do you expect to invest BACK INTO your company? You can't just take every commission check in full. The 'business' needs to earn part of that profit and it has to be reinvested carefully and with purpose.
Who are you biggest competitors? What do they do to get clients? How many deals do they close? Why would someone work with you over them?
WRITE IT ALL DOWN. If you don't go through this stage, you're never going to beat your competition. Probably because you won't even know who they are. Your clients won't know who you are because you have no marketing plan. Your business won't grow because you haven't put any money into it.
This is worth the investment in time. It will make your business stronger and more successful.
It's been a while, I know. Hopefully we've all completed the branding stage. It's very important and can be time consuming. I have my logo set and have come up with an idea for the new website. I was stuck on this for a while, I didn't want to commit to a design until I new it was perfect. Now, I just have to format and get it online as well as structuring the same identity onto all marketing material. The way your potential clients see your business is so very important and I've taken a lot of time on this step to make sure it's just right.
Now that we've completed the branding stage, we need to seriously consider our business plan. Most people just jump in and get started. They never set goals, run numbers, looks at their competition or anything. VERY RISKY. Probably why most businesses fail.
Click Here to check out TC's basic business plan outline. Start writing. Start thinking. Start proving to yourself and to anyone who reads it, that you're business can and will succeed. If you can't do that, you need to do some more work. Don't waste time, effort and energy in a flawed service or business.
As an agent, what makes you different than every other agent? It's a hard business to stay productive in, especially with this market. How are you going to do that?
A lot of real estate is in who you know. WHO DO YOU KNOW and how are they going to help you? Where are new leads going to come from? What marketing works best?
How much do you expect to make and how much do you expect to invest BACK INTO your company? You can't just take every commission check in full. The 'business' needs to earn part of that profit and it has to be reinvested carefully and with purpose.
Who are you biggest competitors? What do they do to get clients? How many deals do they close? Why would someone work with you over them?
WRITE IT ALL DOWN. If you don't go through this stage, you're never going to beat your competition. Probably because you won't even know who they are. Your clients won't know who you are because you have no marketing plan. Your business won't grow because you haven't put any money into it.
This is worth the investment in time. It will make your business stronger and more successful.
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