Build new relationships, but keep nurturing the old

Last week we talked about shaking up the dust bunnies and doing a little spring cleaning in your database. We gave you a few tips on using our products to connect with your sphere, past clients and recent sales.

Why? Because all too often client retention takes a back seat when it comes to business priorities. Who’s riding shotgun? You guessed it—lead generation.

New leads are great, but according to Market Metrics, your chances of conversion aren’t…

Conversion statistics

(Ohh, I like that repeat business percentage though!)


And it’s not just the repeat business that should get you thinking about just how valuable your database is. Check this stat out from the Gartner Group:

Referral statistic

Satisfied customers talk, so by implementing smart retention strategies and treating your customers well, you’re increasing the likelihood of getting referrals.

And the good news is that most buyers are satisfied with their agents. According to the NAR 2014 Profile of Home Buyers and Sellers:

Buyer statistics

(I’d make a wager that the recent buyer in the above scenario would refer the agent more than once if they stayed in touch!)

Client retention and client acquisition don’t have to be 2 parallel lines that never meet. If done right, your customer retention campaigns will lead to new business. Promise.

So don’t spend all your time on prospecting when you’ve got gold right under your nose, and as Brian Boero so eloquently put it, stop feeding the lead machine so much.


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