CASE STUDY: LURING BIG PROSPECTS WITH SMALL GIFTS

Part way through a coffee meeting, a real estate agent gave me a tiny box the size of a business card and the thickness of a deck of cards.

The page on top was more like photocopier stock than card stock.
It had two messages:

• “For the sweetest deal in real estate, call me!” and
• “Oh, by the way … I’m never too busy for any of your referrals!”

One business card was taped underneath. Below that was a small box that held three small football-shaped Lindt chocolates that looked nothing like the photo.

What Effect?

The agent’s intentions were good but was this approach effective?

Virtually anyone can use the same message: “For the sweetest deal in (fill in the blank), call me!” and who would refuse referrals?

If you get the sweetest deal, doesn’t the other side gets the bitterest deal? Maybe a sweet deal is better and leads to less cavities.

The Perfect Gift

The perfect gift is significant, personalized and unexpected, according to Robert Cialdini. Does chocolate qualify?

• significant? No since we have lots of chocolate at home. Besides, I got a normal box of Lindt truffles at another event.
• personalized? Partially since my name was added to a pre-printed sheet. I would have preferred a fully handwritten card.
• unexpected? No since I saw the box the whole time and knew the purpose (best to hide it)

The chocolate was probably on sale at the nearby Lindt Factory Outlet. I paid for our coffees, which probably cost more. Also, I was spending something much more valuable, my irreplaceable time. I felt let down at what looked more like unsubtle manipulation than generosity.

The Ask

A tiny box of chocolates from an outlet is cheap. Real estate is expensive. How does one small gift lead to a big commission? Repetition helps but are we likely going to get chocolate on a regular basis. Do we even want more?

Besides, there are lots of real estate agents that look interchangeable. How do you pick one? Chocolate gives no indication of skill (e.g., in negotiating).

A Better Approach

Timely ongoing information makes a much more useful gift. The content could be about the area of specialty, real estate. Not the generic articles that come with the junk mail every month. But something original that shows a genuine desire and ability to help prospects. The value and name recognition builds with consistency.

Emailing information via a newsletter allows tracking and cost-effective scaling. Buying and delivering chocolate does not.

Standing Out

We've dealt with real estate agents for ages. Not a single gave such a small gift. Not a single one gave useful ongoing information either. There's an opportunity to stand out.

Asking for a referral when giving the chocolate is bold — too bold for a first meeting. Would small bait land a big referral?

How was the chocolate? I don't know. I gave it to a child who might appreciate something that small.

Links

• What lasting gift can you offer everyone you meet?
• Rediscovering email newsletters
• Change your quarterly marketing messages to monthly
• Two clever examples of golden marketing at a live event
• Five steps to personal branding success from Dan Pink
• The three marketing essentials for today
• Flubs in a seminar with a $500,000 ticket
• Gift ideas for your business

PS Another gift, is paying attention to what your clients are doing and helping them succeed.