One member of the NAR REach class of 2015 brings members the promise of stress-free gift giving. Using Loop & Tie, gift givers design an online card with their own photo, logo and message and gift recipients have the fun of choosing the gift they want from a collection of choices. The whole process is like taking your gift recipients shopping, except price is never revealed.
Recipients get to choose from a collection of thoughtfully curated choices, like hand-stitched leather footballs, instant cameras by Lomagraphy, Japanese knives, fine wines and many other beautiful products. Sending is fast and you can login to your account to make sure everyone received their gift and see what they pick!
Members can save 10% of orders using the discount code NARHOLIDAY, Visit loopandtie.com to give a gift.
Read what Loop & Tie has to say about gifting and relationship management in an excerpt their article, “Go into business with your friends”:
Go into Business with your Friends
Relationships drive business
Shifting from marketing products to cultivating customers increases the lifetime value of a customer (and if you don’t believe me, read it here) According to NAR, repeat business accounted for a median 21 percent of sales activity in 2012 and for members in the business 16 years or more, repeat business was 40 percent of their activity. Referrals accounted for an additional 21 percent of all business. Relationships are a big deal! We hear it, we know it, but what do we do about it!
Building relationships, how does that happen?
Being relevant, being considerate and being present. If your client doesn’t remember you, you lose them! Coming up with creative ways to stay on the radar is key, and like any relationship conducting yourself in a way that makes your client want to know you, help you and do business with you creates both a lasting relationship and a fulfilling job.
Business relationships are no different from personal relationships. But since a paycheck is tied to business, we tend to think about the paycheck and the sale as the end and everything else as a means to that. Well stop that! Following a thought pattern of “what do I do for this client to get to x” rather than “what do I do for this person” puts you at risk of subbing in your best (short term) outcome instead of your clients’ best outcome. Thinking of your clients as people makes you more likely to get to their best outcome. Success is not mutually exclusive, when people achieve their best outcome they’re happy, they’re fans of your business and they make rockstar clients, which get you and your business to its best long term results.
The same things you do to show your friends and family care and appreciation work just as well for clients. We all operate under this impulse of reciprocity, whether it’s conscious or subconscious. What people do for you, to you, with you, you mirror. If someone shoots you a text before every meeting asking if they can pick you up a coffee, you’ll probably do the same for them. Be a positive mirror and you’ll get back what you put forth.
This study looked at the effects of reciprocity on business through the use of a gift. The study finds that the more significant the business gift, the greater the recipient’s sense of connection and proposed obligation to the company and the greater their urgency to restore equilibrium. Gifting and kind gestures build successful businesses.
Becoming friends with your client isn’t disingenuous, it’s fulfilling.
If we sleep 8 hours a day and work a standard 40 hour week, we’re spending 55% of our time working. What sounds better: Spend 55% of your time with friends or spend 55% of your time with people you hate being around. Um, the first please. By creating a working environment and lifestyle where you’re collaborating, building and selling with friends you put yourself and those around you in a much happier and healthier place.
Concerns around being fake always comes along with discussions on building relationships. The difference is in the intention. Approaching clients with the intention of optimizing what you can get versus getting the best result for their goals is a huge difference! Building a relationship is a much more pleasing way to build a business for all parties. Sure there are going to be times where you have to suck it up and deal with some dolt, but why build your business and your lifestyle to the exceptions? Sounds much happier to focus on creating a lifestyle of positive relationships no matter whether you’re at work or play.
What defines the businesses and people that build these kind of relationships? The provide customer service that manages to people, not to rules. This instills confidence in buyers that no matter what happens they’re going to be treated fairly. Zappos does an awesome job of this.
They have a style of communication that’s conversational rather than robotic. Imagine reading a Terms of Service contract versus an email from your friend. Different eh? Communication that builds relationships is clear, conversational and invigorating. Tilt does a great job of adding personality to all
They find creative ways to share joy. Whether that’s a dinner party, a donation a quick unexpected note or gift, doing kind things for others out of the blue is just as effective in professional settings as it is in personal ones.
Your brand isn’t your logo, it’s your character.
Recognizing and rewarding people in your professional life takes us back to that whole reciprocity thing. Actions that celebrate a closing, a moving anniversary or a referral are wonderful ways to foster an environment where those actions are mirrored and repeated. Recognition doesn’t have to be around an expected event either, sending a gift on a random Tuesday is thoughtfully received, especially when it’s unexpected! When we surveyed homebuyers we learned that 86% of homebuyers view receiving a gift with branding on it as a marketing interaction vs. a gift. Forty-one percent of respondents said if they received a gift unexpectedly from their agent long after a closing it would increase the likelihood they would refer their friends.
From ancient times to today, the act of giving of a gift is a symbol of kindness, celebration and gratitude. There’s power in subtlety – gifting isn’t marketing. Your logo doesn’t have to be plastered on the side of a product for your client to remember you. What would your best friend say if you sent them a bunch of logoed gear as a gift? If they’re like my best friend it would be something like, uh, what am I going to do with this? The more a client uses their gift, the more likely it is that you’re remembered and associated with that gift. Ya I know, giving a gift that “on-point” is a challenge, especially to many people at once, but tools like this can help. Since gifting is such a significant part of the Realtor’s client interactions, NAR tapped Loop & Tie to join their REach 2015 accelerator class and help agents make gift giving easy.
Double bottom line
When you build strong relationships, mistakes are less scary, new business comes easier and you fill your days with friends versus work.