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1,000 True Fans and Pipeline Value | Podcast

In this episode, Sharran shares something he frequently discusses with his clients and agents—Kevin Kelly’s 1000 True Fans and the 6 strategies for impacting your pipeline value with the True Fan mindset. Because True Fans are those willing to fully support and invest in any product or piece of content you create, Kelly believes you should build your business to nurture and care for these fans. Tune-in to hear Sharran explain why community drives achievement, why obsessing over how your true fans is a MUST, the importance of knowing your pipeline, and much, much more.

3 Key Points

  1. A True Fan needs to be nurtured; they are born out of the incredible care, attention, and experience you provide them.
  2. Channel your obsession into creating something that adds value to someone’s life.
  3. Know exactly what is IN your pipeline, so you can unlock its value and turn it into success.

Show Notes

  • 00:27 – Today’s episode is about 1,000 True Fans and pipeline value
  • 00:43 – Kevin Kelly, Wired Magazine founder, is the modern day bucky
  • 01:26 – Sharran recommends Kevin Kelly’s 1000 True Fans article, especially for those who are just starting their business
    • 01:42 – The article discusses how—in today’s world—knowing and understanding your 1000 True Fans can help you create a phenomenal business
    • 02:42 – The article was written for everyone
  • 03:25 – Sharran reads a part of the article
    • 03:29 – “A True Fan is defined as someone who will purchase anything and everything you produce. They will drive 200 miles to see you sing. They will buy the super deluxe re-issued hi-res box set of your stuff, even though they have the low-res version. They have a Google Alert set for your name. They bookmark the eBay page where your out-of-print editions show up. They come to your openings. They have you sign their copies. They buy the t-shirt, and the mug, and the hat. They can’t wait till you issue your next work. They are True Fans.
  • 04:48 – Salespeople in real estate spend time trying to find that new lead
    • 05:00 – There’s NO wrong way to generate a lead
  • 05:10 – When you convert a lead into a True Fan, you nurture them
  • 05:38 – Agents often struggle staying in touch with their previous clients
  • 07:00 – Most salespeople are always fixed on that next sale
    • 07:21 – The business you make now is important, but creating a sustainable one for the future is better
    • 07:55 – Some sales people CANNOT innovate because they’re more focused on that next sale
    • 08:04 – You need to also focus on how to build a base of 1000 True Fans which is YOUR pipeline
    • 08:11 – A pipeline is what you know is going to come from the people that love you—your True Fans
    • 08:37 – “It’s not about your goals, it’s about what’s in your pipeline”
  • 09:16 – Integrate the 6 strategies into your business and into your life
  • 09:26 – The First Strategy: Community drives achievement
    • 09:36 – In the book publishing business, you can’t publish a book unless it is self-published or you already have hundreds of thousands of followers
    • 09:53 – Publishing companies now realize that authors need to have their own platforms to tell their story before they invest in you
    • 10:06 – As a salesperson, you should also have your own community or mastermind group
    • 10:31 – You can start your own group with a few members, then continue to add value
  • 11:40 – The Second Strategy: The higher the price point, the more important the relationship for the referral
    • 11:40 – Every salesperson wants to increase the price point of their sales
    • 11:51 – They want to sell more per transaction
    • 12:20 – The Second Strategy: “The higher the price point, the more important the relationship for the referral”
    • 12:55 – The relationship component drives all the referrals
    • 13:09 – Building a core group of people can get you to a higher price point faster
  • 13:39 – The Third Strategy: Wake up and obsess about how to add value to the people who love you
    • 13:45 – The concept of 1000 True Fans makes you obsess about connecting with people
    • 14:02 – You’ll know if a group of people love you and what you do because even if you’ve just created one piece of material, they will support you
    • 14:22 – Wake up and obsess about how to add value to the people who love and support you—if you do, you’ll win every single day
    • 14:36 – Elon Musk once said in his interview that he wakes up and obsesses about how the lives of the drivers of electric cars have changed
    • 14:53 – “Obsession is a positive thing if it is channeled to add value to a group of people, a community, that supports you”
    • 15:04 – With obsession comes clarity, commitment, responsibility and power
  • 15:34 – Fourth strategy: Grow your lesser fans by focusing on your True Fans
    • 15:40 – Kevin Kelly calls them “the lesser fans”
    • 16:07 – The lesser fans are okay
    • 16:29 – The lesser fans are still fans and they still came to you because of what you put out there for your True Fans
    • 16:40 – You get a ton of lesser fans when you focus on the True Fans
  • 16:54 – The Fifth Strategy: Get out of the marketing junkie mindset and ask what experiences can I plan next to add amazing value to my 1000 True Fans
    • 17:00 – Addressing the marketing junkie mindset that agents have that triggers their competitive nature
    • 17:26 – The amount of frustration, anxiety, lack of empathy or creativity one feels when their marketing competitor comes out with a piece is shocking!
    • 17:55 – Agents are junkies for marketing material
    • 18:00 – Agents always want a new marketing piece but they never plan on what their marketing piece does
    • 18:31 – Now, agents usually get their leads but they never follow up
    • 18:50 – 80% of the leads generated NEED nurturing and time
    • 19:19 – The thoughtfulness is about all the things that happen throughout the process—from getting in touch with a lead to turning them into a fan
    • 19:55 – Always ask the question, “What happens next?”
    • 20:26 – A True Fan is born from creating an incredible experience with a lead or client
  • 20:54 – The Sixth Strategy: Know what’s in your pipeline
    • 21:21 – “You don’t have a pipeline based on the view of the world”
    • 21:35 – Think about what your pipeline should have (ex. coming soons, pocket listings, active/pending listings, what’s sold..etc)
    • 21:58 – Your pipeline is all that you have
    • 22:02 – Your True Fans will plug into your pipeline and you can talk to them about who you are and how you run your business
    • 22:11 – Sharran always ask new agents what’s in their pipeline
    • 22:15 – “Helping agents unlock the value that’s in their pipeline is way more powerful than doing some kind of strategic mindset shift that they’re probably not ready for”
  • 22:36 – Sharran sums up 6 strategies for how the concept of 1000 True Fans can positively affect your pipeline value
  • 23:34 – Map out your pipeline, look at it everyday and unlock its potential
  • 24:04 – Don’t forget to give Million Dollar Playbook a 5-star review on iTunes and give us your feedback
  • 24:26 – Million Dollar Playbook’s goal is to create 1000 True Fans and build a pipeline

 

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Show Notes provided by Mallard Creatives

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