Sales Skills
Sphere of Influence: Building Your Database
SOI training covered database components, statistical importance, and a five-circle framework for maximizing lead generation. SOI Lead Source Defined The Sphere of Influence (SOI) was defined as every person who knows and trusts an agent enough for business or referrals, constituting a primary, readily available le…
SOI training covered database components, statistical importance, and a five-circle framework for maximizing lead generation. SOI Lead Source Defined The Sphere of Influence (SOI) was defined as every person who knows and trusts an agent enough for business or referrals, constituting a primary, readily available lead source that includes personal and professional contacts. Agents typically have 500 contacts in their cell phones, yielding 3 transactions immediately available within their network. Statistical Value and Cost Statistically, the SOI is the best lead source, outperforming all others due to high trust levels, resulting in a conversion rate 3 to 5 times higher than cold leads. Utilizing the SOI requires time and effort rather than significant financial investment, making it the lowest-cost and most profitable lead source. SOI Categorization and Contact A “five circles” framework was introduced for categorizing the SOI, starting with the Inner Circle of 50 people needing monthly contact, and extending to the Digital Network. Lack of follow-up is the primary reason agents fail, stressing that contacts do not owe loyalty unless the agent shows up last.
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