Nurturing Relationships: The 8x8 and 33 Touch Systems

Chapter: Nurturing Relationships: The 8x8 and 33 Touch Systems

Introduction

In the dynamic landscape of real estate, building and maintaining strong relationships are paramount to sustained success. This chapter delves into two powerful systems designed to nurture client relationships: the 8x8 and 33 Touch programs. We will explore the scientific principles underpinning their effectiveness, examining psychological concepts such as the mere-exposure effect and the importance of consistent, value-driven communication.

The Science of Relationship Nurturing

Before dissecting the 8x8 and 33 Touch systems, it’s crucial to understand the scientific basis for relationship nurturing. Effective communication strategies are built upon principles of psychology, sociology, and marketing.

• The Mere-Exposure Effect (Zajonc, 1968): This psychological phenomenon suggests that people tend to develop a preference for things merely because they are familiar with them. Repeated exposure to a stimulus (e.g., your name, logo, and expertise) increases familiarity and, consequently, positive feelings. In mathematical terms, we can describe this as:

  • Preference (P) ∝ Exposure Frequency (EF)
  • Where P increases as EF increases, up to a certain saturation point.

  Experiment: A study can be designed, where participants are given a list of unfamiliar agents names to choose from for a ‘potential agent match’. Participants are then given a second list with new agent names and the previous names, but where some of the previous names are included multiple times. By the end of the experiment, the participants will have had a preference for the names included more times.

• Social Exchange Theory: This theory proposes that social behavior is the result of an exchange process. Individuals weigh the potential benefits and risks of social relationships. Consistent value provision, such as market reports, insights, and helpful tips, contributes to a positive perception of your service, increasing the likelihood of continued engagement and referrals.

• Reciprocity Principle: This principle states that people tend to respond to others in kind. By providing value upfront (e.g., free reports, useful information), you create a sense of obligation in the recipient, making them more likely to reciprocate with referrals or business.

• Cognitive Dissonance Theory: This theory suggests that individuals strive for Consistency❓❓ between their beliefs and actions. If someone refers you to a friend or family member, they are likely to justify that decision by further supporting your services.

The 8x8 System: Initial Relationship Building

The 8x8 system is an intensive, eight-week follow-up strategy designed to solidify relationships with prospective clients, particularly sellers who haven’t yet listed with your team. Its purpose is to demonstrate value, build trust, and increase the likelihood of securing their business.

• Goal: Convert prospective sellers into clients.
• Timeframe: Eight weeks.
• Focus: Educating sellers on market conditions and showcasing your team’s value proposition.

The 8x8 system typically involves a combination of direct mail, phone calls, and valuable content delivery. A sample 8x8 plan for prospective sellers includes:

1. Week 1: Handwritten “Nice to Meet You” letter + market report + business card.
   • Scientific Justification: Personalization (handwritten note) enhances engagement, while market data demonstrates expertise.
2. Week 2: Market statistics.
   • Scientific Justification: Provides objective information, establishing credibility.
3. Week 3: Market statistics.
   • Scientific Justification: Consistent data reinforces expertise and keeps you top-of-mind.
4. Week 4: Telephone call – checking in, asking about their home selling efforts.
   • Scientific Justification: Human connection builds rapport and provides an opportunity to address concerns.
5. Week 5: Free report (e.g., “Top 10 Mistakes Sellers Make”).
   • Scientific Justification: Offers value, demonstrates expertise, and positions you as a helpful resource.
6. Week 6: Real estate investment or house❓ maintenance tip.
   • Scientific Justification: Provides practical, actionable information.
7. Week 7: Usable giveaway (refrigerator magnet, notepad) with your branding.
   • Scientific Justification: Increases brand visibility and familiarity through repeated exposure.
8. Week 8: Telephone call – reinforcing value and asking for referrals.
   • Scientific Justification: Final touchpoint to solidify the relationship and prompt action.

Every touch includes a quick reminder and instructions on how to give you referral business.

Customization:

The 8x8 system should be customized based on the target audience. This can be accomplished by tailoring the content to specific needs and interests. For example, an 8x8 plan for first-time homebuyers might focus on information about the buying process, financing options, and neighborhood insights.

Example: An 8x8 plan for luxury home sellers may include information of recent successful sales of luxury homes in the area.

The 33 Touch System: Long-Term Relationship Maintenance

The 33 Touch system is a year-long program designed to maintain consistent communication with contacts after they complete the 8x8 plan or are already established in your database. The goal is to stay top-of-mind, nurture relationships, and generate referrals.

• Goal: Maintain consistent contact and generate referrals from existing contacts.
• Timeframe: One year.
• Focus: Providing value, building rapport, and reminding contacts of your services.

A basic 33 Touch plan consists of:

1. Mailings/Emails/Drop-offs (14 touches): Letters of introduction, brochures, market reports, Just Sold/Just Listed cards, newsletters, recipes, property alerts, real estate news, community calendars, invitations, service directories, promotional items.
   • Scientific Justification: Variety keeps content fresh and engaging.
2. Thank You/Thinking of You Cards (8 touches):
   • Scientific Justification: Expressing gratitude and thoughtfulness strengthens personal connection.
3. Telephone Calls (3 touches):
   • Scientific Justification: Direct communication builds rapport and allows for personalized interactions.
4. Personal Observance Cards (4 touches): Birthdays, anniversaries, etc.
   • Scientific Justification: Shows you care about them as individuals, fostering loyalty.
5. Holiday Cards (4 touches):
   • Scientific Justification: Leverages existing social customs to connect on a personal level.

Mathematical Analysis of Expected Returns:

The provided text notes that marketing to twelve people with the 33 Touch system can reasonably be expected to yield two sales: one repeat business and one referral. This can be expressed as a conversion rate:

• Conversion Rate (CR) = (Number of Sales / Number of Contacts) * 100
• CR = (2 / 12) * 100 = 16.67%

To achieve 50 sales per year, based on this conversion rate:

• Required Contacts (RC) = (Desired Sales / Conversion Rate per 12 Contacts) * 12
• RC = (50 / 2) * 12 = 300

Customization:

The 33 Touch system should be tailored to specific client segments. For example, a 33 Touch plan for past clients might focus on anniversary of purchase, information of home improvements, and real estate investing news. A 33 touch plan for sphere of influence can include local events and news.

Importance of CMS Notes:

As highlighted in the provided text, documenting interactions within a Customer Management System (CMS) is critical. This allows for personalized follow-up and demonstrates genuine interest in the client’s life.

Example: Noting a client’s daughter’s recital allows you to ask about it during the next call, strengthening the relationship.

Key Considerations for Implementation

1. Consistency: Adherence to a structured plan is crucial. Sporadic or inconsistent communication diminishes the effectiveness of both the 8x8 and 33 Touch systems.
2. Value Proposition: Every touchpoint should provide value to the recipient, whether through information, entertainment, or personal connection.
3. Personalization: Generic communication is less effective than personalized content. Use available information to tailor messages to individual needs and interests.
4. Call to Action: Every communication should subtly remind the recipient of your services and encourage referrals.
5. Tracking and Measurement: Monitor the effectiveness of your 8x8 and 33 Touch systems by tracking conversion rates and gathering feedback.

Conclusion

The 8x8 and 33 Touch systems are powerful tools for building and maintaining lasting relationships in the real estate industry. By understanding the underlying scientific principles and implementing these systems with consistency, personalization, and a focus on value provision, real estate professionals can significantly enhance their success. Remember that the key lies in fostering genuine connections and positioning yourself as a trusted advisor to your clients.