The New Database Formula: Grow Your Database Business

In today’s episode, we’re talking about database strategies that will be vital in the next market, and how to master them at the highest level. Ever since you got into the business, you’ve heard people say “work your database”, but what does it actually mean? How do you turn your database and all the contacts you make along the way into a pipeline of deals and referrals? 

 

Jeff shares the formula for database success, why you shouldn’t just be working one database, and what we need to be doing every single day if we want this source to work for us. 

 

We also discussed;

• Why your database value-add content is due for an update 
• How to grow your agent-to-agent referral database 
• When to ask your database for business 

Key Points 

 

1. There are 3 pillars for growing your database business; 

• Constantly adding people to it 
• Adding value to the people that are already there 
• Doing both simultaneously 

 

The challenge is, most agents aren’t good at doing both. The agents that are good at making new contacts aren’t good at adding value to the relationships they already have. The agents good at nurturing aren’t necessarily good at adding new people. We need to have a system in place to do both. 

 

2. Most agents send out something their database can put on their refrigerators, but a lot of newer model refrigerators aren’t magnetic anymore. Make sure you’re mailing out things with adhesive strips. 

 

3. Push all your past and current clients into one VIP client Facebook group - it’s like sending them more pieces of mail. You can make the most amazing social media post but you don’t know who’s going to see it, but with your own group, people get notified every time you go live, so you can use this to send market stats and even do giveaways.