The thought of prospecting may seem like a daunting proposition, especially when you’re handling multiple sale and purchase matters simultaneously.
Despite this, prospecting can be an important ingredient to the ongoing success of your firm.
According to HubSpot, prospecting is the process of initiating and developing new business by searching for potential customers, clients, or buyers for your products or services.
For a conveyancer, the goal for prospecting is generate interest in your services and convert them to become a revenue-generating customer. Some prospecting tips include:
1. Targeted Marketing:
Develop a well-defined target market and create tailored marketing campaigns to reach potential clients who are most likely to engage with your services.
Utilise platforms like CoreLogic or recent Census Data to determine what demographics are in your intended area, whether they are young and would be first home buyers, or middle to older in age and could be approached as repeat members of the property market.
Leverage social media platforms to promote your services, share informative content, and engage with your target audience.
2. Networking & Communication:
Networking events offer a chance to establish your presence in the industry and generate new leads. Attend industry events, join professional associations, and build strong relationships with fellow professionals, such as mortgage brokers and property developers, to expand your network and gain valuable referrals.
Additionally, effective communication is essential when prospecting new leads. After initial contact or meetings, always follow up with potential clients promptly. Send personalised emails, make phone calls, or schedule meetings to keep the conversation going.
3. Develop a Referral Program:
One of the best strategies for prospecting, is for your clients to prospect for you. Having a happy client refer others provides more credibility and a lack of bias towards your services.
To get this kick-started, develop a referral program that incentivises your existing clients to refer your services to their friends, family, and colleagues.
Offering referral bonuses or discounts can encourage your satisfied clients to promote your business. A well-structured referral program can help you tap into your existing client base and extend your reach to new prospects.
Ultimately, having continued new business can be difficult in the conveyancing industry, especially with the competitive landscape of the industry in Australia. Navigating this challenge can be overcome with many strategies, one of which, is prospecting.
Spending time each week prospecting with the strategies discussed can help develop a more consistent lead source and help ensure business prosperity.
If you want to learn more about generating revenue, and other marketing techniques to grow your business, subscribe to The Conveyancer Digest, today.
