8x8 and 33 Touch: Strengthening Relationships and Driving Referrals

8x8 and 33 Touch Programs

Introduction

8x8 and 33 Touch programs are strategies designed to strengthen relationships with potential and current clients and turn them into referrals.

Theoretical Basis

The effectiveness of the 8x8 and 33 Touch programs is based on:

• Social Exchange Theory: Human relationships are formed based on cost-benefit analysis. Providing continuous value to clients builds a sense of obligation and increases the likelihood of future referrals.
• Mere-Exposure Effect: People tend to prefer things they are exposed to repeatedly. Regular and thoughtful communication makes your name and brand familiar to clients, increasing trust and the desire to work with you.
• Consistency Principle: People tend to act in ways that align with their previous statements and actions. Continuous communication reinforces this commitment and makes it more likely to turn into a long-term relationship.
• Relationship Marketing: Focuses on building strong, mutually beneficial relationships with clients rather than just focusing on one-time sales. The 8x8 and 33 Touch programs are essential tools for implementing a relationship marketing strategy in real estate.

8x8 Program Analysis

The 8x8 program is a series of eight scheduled contacts over eight weeks designed to leave a strong initial impression on new potential clients. The main goal is to demonstrate added value, build trust, and increase the chances of obtaining an exclusive sales authorization.

8x8 Program Elements:

• Week 1: Send a handwritten thank you note (“Nice to meet you”), accompanied by a market report and your business card.
• Week 2: Send current market statistics.
• Week 3: Send current market statistics.
• Week 4: Make a phone call: “Hello, this is [Your Name] from [Company Name]. Is this a good time? How are you? Did you receive [Type of Material Sent]? Have you had a chance to look at it? I just wanted to check in and see how your efforts to sell your home are going…”
• Week 5: Send one of the free reports you offer.
• Week 6: Send advice on real estate investment or home maintenance.
• Week 7: Send a practical, usable gift (not for quick consumption!), such as a refrigerator magnet or notebook, bearing your name, logo, and contact information.
• Week 8: Make another phone call: “Hello, this is [Your Name] from [Team Name]. Is this a good time? How are you? Did you receive [Type of Material Sent] that I sent you? That’s great. Do you have any questions? As you can see, I truly hope you will allow me to be your real estate agent for life. And I would also like to quickly remind you that if you know anyone who may be buying or selling their home, please share their name with me or my name with them…”

8x8 Program Customization:

The 8x8 program should be customized to suit the type of potential client (seller, buyer, investor) and the characteristics of the local market. For example, a program for sellers may focus on highlighting your expertise in real estate marketing, while a program for buyers may focus on providing information about available financing options.

8x8 Program Measurement and Improvement:

It is essential to track the effectiveness of the 8x8 program by measuring the number of potential clients who have become actual clients, as well as collecting client feedback to continuously improve the program.

• Conversion Rate: The percentage of potential clients who completed the 8x8 program and became clients. Conversion Rate = (Number of Clients Converted / Number of Leads) * 100
• Acquisition Cost: The average total cost to acquire a new client through the 8x8 program. Acquisition Cost = Total Cost of 8x8 Program / Number of Clients Converted
• Response Rate: The percentage of potential clients who interacted with your communications during the 8x8 program. Response Rate = (Number of Interactions / Number of Touches) * 100

33 Touch Program Analysis

The 33 Touch program is a systematic marketing strategy aimed at ensuring continuous communication throughout the year with all potential clients, business contacts, and past clients in your database.

33 Touch Program Elements:

1. Set aside a specific time each week to contact potential clients.

2. Distribute the 33 touches as follows:

   • 14: A mix of messages, letters, cards, emails, or deliveries (which may include your business card) and may be one of the following: introductory letter, personal brochure, market reports, “Just Sold/Just Listed” cards, your personal newsletter, recipe cards, property alerts, real estate news or articles, community calendars, invitations, service directories, promotional items, etc.
   • 8: Thank you or thinking of you cards
   • 3: Phone calls
   • 4: Personal occasion cards (birthdays, anniversaries, Mother’s Day, Father’s Day, graduations, home purchase anniversary, etc.)
   • 4: Holidays (Thanksgiving, Independence Day, etc.)

33 Touch Program Customization:

The 33 Touch program should be customized to suit different segments of clients, such as:

• Lifetime clients: Clients who have dealt with you in the past and have expressed satisfaction with your services.
• Advocate appreciation program: Clients who have referred business to you in the past.
• My sphere of influence: Friends, family, and colleagues.
• My allied resources: Other professionals in the real estate field (such as insurance agents and contractors).

33 Touch Program Performance Evaluation

• Customer Retention Rate: The percentage of clients who continued to deal with you over a specified period of time. Retention Rate = ((Number of Customers at End of Period - Number of New Customers Acquired During Period) / Number of Customers at Start of Period) * 100
• Customer Lifetime Value (CLTV): An estimate of the total revenue that a client can generate over the period of their relationship with you. CLTV = (Average Transaction Value * Number of Transactions per Year * Customer Lifespan) - Customer Acquisition Cost
• Net Promoter Score (NPS): A measure of customer loyalty that measures how likely customers are to recommend your services to others.
• Number of Referrals: The number of referrals obtained from clients participating in the 33 Touch program.

Important Notes on 33 Touch Program:

• Record Notes: Each time you contact a client, make notes about what was said in your contact management program. This will allow you to ask relevant questions about your clients’ lives the next time you contact them, strengthening the relationship.
• Referral Reminders: Every communication should include a quick reminder and instructions on how to refer potential clients to you, as well as a clarification of the benefits of working with your team.

Case Studies and Real-World Experiences

A study conducted on real estate agents using the 33 Touch program found that they achieved a 20% increase in the number of referrals compared to agents who did not use the program. Additionally, another case study showed that a real estate agent who implemented an 8x8 program for sellers was able to obtain an exclusive sales authorization from 75% of the potential clients who participated in the program.