In medicine, a placebo is a pill that you think will make you better, and so it does. In your business, a placebo is a prospect having the experiences they expect to have, and so they have them.
Social scientists discovered that a person's perception creates expectations and influences his or her experiences.
For example, you take your vehicle to get serviced. You walk into a clean lobby and are greeted warmly by a service technician. You think, this must be a quality service center. And so it is. After your vehicle is inspected, the service technician explains in plain English the service your vehicle needs. You decide the technician is trustworthy. And so he is.
A new dry cleaner opens in your neighborhood. You receive a coupon in the mail. It includes a picture of the owner who looks experienced. You take your first order to them and the service line moves quickly. You think, the dry cleaner is efficient and professional. And so they are.
Placebo effects are all around you. If you're not aware of them, they can work against you. Have you ever met a realtor and felt they made their mind up about you before having a true opportunity to demonstrate your services?
For instance, you meet a prospective realtor and they appear standoffish. The realtor has an immediate perception of expectations based on their previous experiences, even though those experiences didn't include you or your firm.
You learn that they have had many bad past experiences dealing with other lenders. You have to overcome the negative placebo effect to become trustworthy.
However, if you learn to manage placebo effects, you can shape people's expectations before this happens. If you shape expectations, you shape their experiences.
This week's issue focuses on a few facets to manage your placebo effects - where prospects create expectations of your quality and service.
To shape expectations, improve your materials
Do your materials create an expectation of trust, skilled, competency? Do your materials distinguish you? Do you look smarter, better, more successful? Are your materials made with better materials?
Usually, your materials are the first contact a prospect has with your service. You never have a second chance to make a first impression. First impressions are eternal.
Use two of the most powerful things in your materials: images and brevity. Images speak visually. Considering that realtors are bombarded daily with communication, use pictures to convey your message.
And secondly, use as few words as possible. But make every word count. A simple, precise message combined with a matching image can effectively communicate your point with greater precision than an overcrowded message screaming for attention.
To shape expectations, develop your website
Does it look professional, clear and easy to navigate? Is it inviting to realtors? Look at some of your competitors and notice how they only appeal to consumers.
Does your website shape the realtor's perception of your service? Realtors should find your site to be an educational resource of how your services differentiate from your competitors.
It should address common concerns realtors have about lenders: poor communication, loans not closing on time, inadequate customer service. Use visual descriptions to shape their expectations differently.
To shape expectations, review your touchpoints
Is your company's image of service better than your competitors? Does it create an expectation of being personable, reliable, and dependable? Are the people who answer the phones congruent with the image?
Are messages returned promptly? Do you uncover problems before they arise? Do you fulfill requests before they're requested?
Your touchpoints are any point of contact between your client and your service. This includes product touchpoints, human touchpoints, and system touchpoints.
A realtor receives your invitation to meet and discuss opportunities. They are impressed with the quality of your letter and materials and decide to respond (product touchpoint).
They call your office, which is answered by the receptionist. The receptionist is courteous and polite (human touchpoint).
The realtor is connected to your voice mailbox and listens to your professional greeting. They leave a message and easily exit the system (system touchpoint).
Your touchpoints are placebo effects that help shape their experience.
Without having met you, the realtor has a perception of what to expect from you. This expectation will influence their experience when you meet together - hence, The Expectancy Theory.
Thanks for support,
Jeff Nelson
Salesachievers
Helping loan officers attract more clients
© 2004, 2005 by Jeff Nelson
All rights reserved
