The Business Card – How Powerful Are They?
This is great information and advice I wanted to share with you. Those of you, who are in some sort of direct sales, should gain some insight, if you haven’t already about the power of marketing with your business cards. My examples and advice are coming from a real estate broker’s perspective with over 20 years of experience. These examples however, can be used by any sales people throughout all types of sales industries. This is especially true for the people that are in commission sales.
When I first started in the business, I had absolutely no prior sales experience. I was actually a computer geek and spent most of my time talking to computers. My first month in real estate I had 4 sales. Well, it was just luck and when those sales closed, I had no more business.
So the question is, how does one generate sales or recognition especially when you are brand new in a sale position? I could not afford to advertise or market my services through publications, magazines, newspaper ads, etc. At the time the only item I was able to comfortably handle financially was the price of business cards.
I stood outside a football stadium prior to a Super Bowl game and handed out 1000 business cards. It took me approximately 3 hours. I generated 15 sales from this venture. You can also purchase plastic business card holders for around $.75 each. When you are out at some of you most visited establishments such as restaurants, dry cleaners, shoe repair shop, ask management if you can place your business cards on a table or desktop.
A good habit to be in, is always keep a box of business cards in your car. Over the years I have asked so many people for their business card and they didn’t have one on them. As far as I’m concerned that is a “lost” sale.
That 3 hour excursion increased my sales over 6 figures in the next year. It then dawned on me, that this was the way I was going to generate business in the future. By doing this I was able to considerably keep my overhead costs to a minimum.
Let’s dissect this further by saying at the time, the average sales price of a home was $250,000. The average commission for the sale was 3%. This would calculate to $7500 per sale. I made $110,000 from passing out 1000 business cards, which means I sold approximately 15 customers or clients a home in the next year. It cost me $75 for 1000 business cards. That equates to only .015% in conversion but over $100,000 in my return on investment. Could you image passing out 1000 business cards per quarter. That would be 60 sales per year. Incredible for a real estate professional.
The cost of buying business cards is probably the least amount of investment required for marketing your services. Pass your card out to everyone you know. Leave business cards at establishments if possible. Leave your business card with your tip at a restaurant. This is the fastest and best way to generate leads and referral business.
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