As a luxury real estate marketing professional intent on gaining or sustaining market leadership, it is important to understand a marketing term that brand experts call “the moment of truth”. There are actually five moments of truth that your clients experience in relationship to doing business with you. If you do not engage and fully satisfy their needs at these crucial moments in the cycle of client acquisition your competition will. If you satisfy all five moments of truth you will have a client for life.
Here in Part 1 of this series we identify the five moments of truth.
Moment of Truth # 1: Befroe They Meet You
The first moment of truth occurs before your prospective client ever meets you. It is when they think they have found the answer to their most pressing question or need and you seem to be someone who has the answer.
It is experienced when they are first referred to you by someone they trust. Or, it can happen when they find you on a search engine, when they find a blog post you have written, when they encounter your website or your advertisements. Perhaps, it is when they discover your yard sign in front of a substantial listing. There is a palpable feeling of relief and hope that you might be the right one to help them.
Moment of Truth #2: When They First Meet You
The second moment of truth happens when they actually encounter you in person, by phone or email, etc.. This moment affirms or disaffirms what they were hoping to discover about you. They are either satisfied or dissatisfied with their initial encounter with you. They answer the question, "should they proceed to buy or list with your assistance?". If they answer, "yes", they are convinced that they have found the right agent, that you will produce their desired result.
Moment of Truth #3: When \You Deliver Your Services
The third moment of truth occurs when your initial transaction is complete and they are satisfied that you have delivered on your promise of value. Here you have met or exceeded their expectations, or you have disappointed them. If the latter is true, the cycle of customer acquisition end right here.
Moment of Truth #4: When They Refer You
The fourth moment of truth occurs when they refer a friend to you. This further affirms their satisfaction.
Moment of Truth #5: When You Get Their Repeat Business
The fifth moment of truth occurs when they are ready to buy or sell again and they call you instead of switching brands which means calling your competition.
True market leaders have mastered all five of these moment of truth. Those who have not are definitely vulnerable to being challenged. In Part 2 and 3 of this article series we will go into more details about each moment.
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