Entry by Lester Langdon

Forget About ROI, Start Thinking About 'ROE'

Word-of-mouth is gold and social media is the vessel we use to promote it, but how exactly is it accomplished? As businesses we are always looking for ways to lower the cost of acquiring new customers. It’s simple economics, the lower the acquisition cost the more sales (and money) we make…simple right? Not exactly. As with most things it’s easier said than done, but if you make it part of your daily customer/employee interaction to give your customers something positive to talk about you go a long way to influencing a higher rate of word-of-mouth, let’s call it your ROE or "Return On Experience."

More ..... http://socialmediatoday.com/davidjohnson4/466776/forget-about-roi-start-thinking-about-roe

Note from Lester ... We might call it "Return On Enchantment.

Your opinion please. We want impact that the seller received actual value.

First you have to know that we have a compensation menu option which is called "Shared Risk Option". We give a commission discount of $4 in exchange for $1 up front startup engagement fee (non refundable) upon signing a listing agreement. (Our minimum fee is $4,000)

We are considering an image of a bank check 2 feet high by 4 feet wide with the amount of commission savings written to the seller. The amount would be equal to 6% minus the actual sales commission (maybe 4.5%). This giant fake bank check would be presented to the seller at the closing table and we will take a photo. If the seller is not present at the closing we will have a photo of the bank check and a photo of the seller (photo taken previously). These photos will be posted on our website (with permission).

For buyers we will use the about of commissions that we rebated. The closing statement gives a rebate credit on the closing statement. We can use the same concept to create a giant fake bank check for the rebate amount.

Your thought would be appreciated to improve or shoot down this idea. The purpose it to imprint and reinforce our value and help create testimonials online.

 

This page contains a single entry by Lester Langdon published on March 11, 2012 11:40 AM.

Rules for Real Estate Consulting was the previous entry in this blog.

Who Wants a Hundred Dollar Bill? is the next entry in this blog.

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