JJ Mazzo is an Executive Vice President at CrossCountry Mortgage and CORE Training Business Coach.
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Every sales and business person wakes up thinking about two things: How am I going to generate leads and convert those leads to closed deals? Of course, it starts with generating them, yet we spend billions each year to have others do that when the ability to do so should only cost time and tactics.
I want to review with you some important insights about VIP lists that I have been taught over the years that have changed my mindset in life and in business.
The VIP List
The perfect model of your business should come from 40% past client database, 40% VIPs and 20% cold lead advertising. Who should be on the VIP list? People who have tons of relationships; people who know, like and trust you; as well as people you have things in common with (what a surprise!). Not to mention, it doesn’t sound like work when you put it this way. It sounds like fun, as it should.
Some examples of those to put on your list are: business contacts, financial planners, human resources directors, hair stylists, tattoo artists, attorneys, contractors and CPAs, to name a few. While it does depend on what field you are in, all of these examples offer ample opportunities to refer you.
Where Do You Start?
Make your list, which should include name, address, phone number, email, birthday and hobbies. Start with, let’s say, 50 contacts.
Next, call and set an appointment to explain the VIP concept. After this initial call, call 15 people from your list every month. Remind them that they are a VIP and why. Make sure you ask them about something personal. You want to be involved in people's lives, as these are your chosen VIPs. Then, of course, ask them how you can help serve them in your business before you ask for referrals for yours.
Remember, the most important part of a sale is asking for the business.
Moving Forward
Create a system that works for you, such as monthly calls, emails with video, birthday/anniversary program mailings and monthly happy hours. Relationships take time and effort to develop. This is a great place to start, and with the proper systems in place, it is sustainable.
When emailing, I find that sending videos is the most personal and effective way of staying in touch. It’s always a great way to follow up on a phone call.
Birthday programs should include a card, a phone call and a cupcake or other thoughtful gift. Do you know how many people close to us forget our birthdays? More than we would like to admit.
I recommend an "anniversary program" for those who are married, where you call them and potentially send a gift before the big day. Anniversaries are a big deal for married folks, and a call with a thoughtful gift for the couple is a huge wow!
I also like monthly happy hours, where your VIPs are invited to socialize together along with you and your team. Drinks, a few appetizers and great conversations go a long way towards fostering a feeling of inner-circle closeness.
Final thoughts
Imagine if you received four referrals from each of your 50 VIPs each year. That’s over 200 leads, 25% of which would, on average, lead to closings. That’s 50 more sales added to your bottom line—potentially more. And more importantly, you're creating relationships that are fun to work with.
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