MKT 340 Lecture Notes - Lecture 4: Mortgage Broker, Unit, Telephone Number

• School: University of Miami
• Department: Marketing
• Course: MKT 340
• Professor: Scharf Ian

Document Summary

Prospecting try to stay in the warm end, and if you start drifting towards the cold you are not going to get the new client. Most effective ways to meet new people: (from best/warm to worst/cold: 1. Referrals = when an existing client introduces you to someone else. 1:3 ratio for every 3 referrals you should get 1 new client: 2. Coi (centers of influence) = people who have not bought from you (not clients) but are in a position to introduce you. Ex: (for a real estate agent) mortgage broker, real estate attorney, landscaper. Lead group = a group of non-competing professionals who exchange names. Networking = people who (physically) gather together for a common purpose. Ex: chamber of commerce, alumnae association, bowling. Common characteristics: typically meet once a month, they all charge a fee (dues, typically have multiple committees, have different levels of membership (based on fees)