Target Market Exercise

Building relationships is critical in developing relationships with referral sources/center of influence relationships.  The first step in referral relationships is often trust.  In order for people to refer to you they need to be able to:

1-   Trust you.  People refer and do business with people they know, like, and trust.
2-   They need to know your target market.

Let’s take a 5 minutes to role-play and do a Target Market Exercise.  Goal:  Learn how to better identify opportunities for other members

How to do this
1- Pick 3-4 members to participate
2- Run through the example below so the participants can see how to participate
3- Give each participate 60-90 seconds (run a timer)
*Have them give us a brief overview of their target market and something we can say to “tee up” a referral opportunity when we are standing in the middle of a referral scenario.

Example from a residential realtor:
“For me, look for life changing events both positive & negative like marriage, divorce, death, promotions, relocations, kids going to school, etc.  I work with a lot of buyers after they’ve gotten engaged, married, or are having their first child.  When you hear someone in this scenario don’t say it instantly but a day or two later send a text message or email but looks like this.

Congrats again on _____________ .   I’m excited for you.  Usually one of the things you’ll consider doing is buying a house together.  When the time comes I want to make sure you have one of the best realtors to take care of you and your family and I want to introduce you to my friend ___________.  They are the best and will take great care of you.”