The purpose of a pop-by
Of all the touch types in my training series, the pop-by might provide you the most return on your investment.
Why Invest in Pop-Bys?
In short, the purpose of doing a pop-by is to creatively remind your sphere of influence that you are a real estate professional. You can achieve this reminder by purchasing a few festive items, packaging them creatively, and delivering them to people within your database.
What is the Cost?
It’s important to have a predetermined Marketing budget as part of your total business budget, as Marketing activities falls under lead generation and is thus a business expense. While mentoring agents over the years, I’ve observed that most believe that they need to spend a lot of money and to provide an impressive gift. But that isn’t the purpose of the pop-by! Though you do want to provide a professional package, it does not have to be expensive to serve the purpose of being memorable. The total price per gift should be affordable, somewhere between $5.00-$7.00 per kit.
Who Gets a Pop-By?
Being a business owner, it’s imperative that you maintain a database consisting of all your friends, family members, neighbors, and past clients. As you consistently update your database, choose 75-100 people and tag them as your “top tier” sphere members. The top tier are those individuals who - when properly nurtured - are most likely to provide you with business, either directly or indirectly via referrals
Now that you’ve identified your top tier sphere members, now you will implement your pop-by strategy! You won’t deliver a pop-by gift to your top tier members every month. Nope, because that would be incredibly expensive and time-consuming. Instead, you will divide your top tier into 3 groups, and you will deliver rotate your delivery groups each month.
Example: 75 people are in the “top tier” of your database.
75 / 3= 25 people per group.
Following this delivery strategy, each member of your top tier will receive a pop-by gift from you 4 times per year (once per quarter).
How to Map Your Delivery Stragegy?
How do you know which top tier members receive a pop-by in which months? There are different strategies that you may employ for pop-by delivery. Some agents choose to divide their deliveries by geographic area and deliver n-number of gifts in specific towns, cities, and/or counties. I personally believe this is the most efficient use of your time, and therefore is my favorite delivery strategy.
Other agents will organize their delivery strategy by last name. Month 1: A-K, Month 2: L-R, Month 3: S-Z.
Another option is to hire a courier service to deliver your pop-bys for you. Keep and eye on this space for future courier delivery options!)
You can utilize either of these strategies, or develop a strategy of your own that best suits your business model and available capacity.
