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.”
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