Dr. Frank Luntz recently released a new book titled "What Americans Really Want… Really." It's a great book for those of you who are serious about marketing. Dr. Luntz has conducted over 1,500 surveys and has studied how people live and what they really want in their lives.
Hint: It's a fast-track guide on how to understand and communicate with your prospects.
Early in the book, he summarizes the typical day of an average person. This little study is very revealing from a marketing perspective. As an example, he found that most people begin their day in the dark because they have long commutes to work. More than 3 million people travel 50 miles or more to work. He pinpointed this as being a great opportunity for connecting with your prospect because you may have their uninterrupted attention.
He also found that most people now go online within minutes of waking up to see what's going on in their community, the weather and to get updates from their friends and family. This finding indicates that you should try to deliver some of your marketing messages, newsletters or other client communications so that your prospects have them first thing in the morning. My testing has shown this to be true. My email open rate tends to be higher when the emails are delivered at 6:30 a.m. This doesn't mean you have to personally send the email at 6:30. It simply means you have to program your email to be delivered at 6:30 a.m.
In fact, most people have checked their email before leaving their home for work. Dr. Luntz even found that if someone is under the age of 30, they've probably received a text message, too.
On surfing the Internet he wrote:
"Only a handful of people acknowledge surfing the Web at work for personal content, even though it is well-known that website traffic spikes when people first get to work, during lunch hour, and again right before they leave for home."
Seems to me these three time zones might be very helpful for delivering your marketing messages or driving traffic to your website. They tell you when and how to deliver your marketing messages. Simply by engineering your marketing around how people live, you'll notice an increase in your response rates. More emails will be opened. More people will visit your website. And you'll ultimately sell more homes.
Last week, I received a great question from one of my Renegade Report members. The member asked the following question:
"My database has around 500 prospects. Every now and then I send them deal alerts but very few respond. I've only been able to generate a few appointments and a few offers to date. At what point (1,000? 5,000?) can I expect people to make offers and actually buy?"
This is an excellent question, isn't it?
First off, if you're marketing to your database of 500 people via email, you have to understand that only a small percentage of people will actually read your emails. This is because of spam filters, dull email subject lines, and competition over your prospect's inbox by other marketers, friends and work-related issues. Let's assume that only 10 percent of those in your database read your emails. A database of 500 prospects would indicate that 50 people read what you've sent them.
In marketing, 50 interested prospects isn't a very large number.
This doesn't mean that you won't sell, it just means that you're not going to generate huge results through email marketing, unless you build a larger database. With 50 interested prospects, you can assume that 5 percent to 10 percent of them might respond to your offer. This would translate into two to five responses, depending on what you're marketing and how you're marketing it.
As you can see, marketing is all about numbers. The larger your database, the more responses you'll receive. You shouldn't expect 100 people to respond to something you offer via email if your database has only 500 prospects. It simply won't happen.
This is why building a large database is so critical for your success. I constantly preach that you should generate 100 leads a month for every full-time agent on your team. My monthly lead-generation goal was 400 leads. Throughout a year, my database grew by 4,800 prospects. Unfortunately, not many agents are listening. In fact, I get negative comments from agents who say 100 leads a month is too many for one agent to handle. Simply not true! In fact, it's a major limiting belief.
Imagine how your marketing would change if you had 10,000 prospects in your database? One email would be opened by 1,000 prospects (10 percent) and 50 to 100 (5 percent to 10 percent) would respond to the offer made in the email. The game changes dramatically.
Everything gets easier.
As you start to think about 2010, make sure your marketing focus is on building your database. It's the best investment you'll ever make. If you need a little help, I strongly suggest downloading my program titled "31 Days to a Larger Database" for just $12.95 available at:
Oh and don't wait for January to start implementing new strategies for your business. Let your competition blow off November and December waiting for the New Year to start.
Begin implementing your 2010 goals now and get a head start!