“Dear Ginny, WTH?” which is like a “Dear Abby” column for real estate objections. If you have a tough client or a marketing problem, “Dear Ginny, WTH?” is for you. Questions can be funny, they can be serious, it doesn’t matter, just ask!
Dear Ginny WTH,
Do you have any best practice tips and tricks for staying in touch with past clients? I’ve done everything from send a year’s worth of Sunset Magazines to monthly direct mail calendar cards to once a month letters with comps and coupons to local businesses. I’m not sure what people want to see anymore. How can I keep my past clients engaged and my name top of mind with them while at the same time providing something of value?
Dear Unnamed Agent,
You are on the right track. Past clients are often the most neglected target audience of any Realtor but should be the most protected. How many times have we read that it costs 5 to 7 times as much to acquire a customer as it does to retain one? And yet, knowing that existing relationships are more profitable, we spend the majority of our planning and budget on new customer acquisition.
A NAR Profile of Home Buyers & Sellers survey says that nearly three-quarters of sellers rely on referrals from friends or neighbors or their previous experiences with a particular agent when selecting a professional to sell their homes. That’s huge. If you can make an impression on a client and continue to let them know you are active, it is very likely that they will refer you to someone.
So what wows clients, is cost effective and provides value. You already know what Dear Ginny WTH is going to say: a combination of communication points works the best if you can get one to one, even better.
There is nothing wrong with Sunset Magazine, monthly calendar cards or letters with coupons. Yes, do something monthly or bi-monthly that is a passive branding reminder, but also look for additional customer touch points that allow you to communicate more personally with your past clients.
Send “thank you” messages. Send birthday cards. Ask your customers for their advice…about the market, about your services, etc. It’s flattering to be asked. Gather, analyze, and act on their feedback. Not only will your customers feel as if you consider their opinions valuable, you’ll also improve your service.
Do you know your customer’s birthdays? Hummm. Well, you do know the anniversary of their home purchase, don’t you? Why not? Send a “You’ve been in your house for a year, and I appreciate you” card. Photocopy the sales for the month and write a hand-written note deciphering the market. If you think about it, there are dozens of reasons to contact your customers.
The sale of a house has a predictable post-purchase order? Does your homeowner customer typically purchase a lawnmower, then a chainsaw, then a brush cutter? Send information about the next probable purchase to your new homeowners. You could easily set up a schedule of four mailings for the first year based on predictable purchases leading to the one year anniversary of them owning their home.
You should take the time to nurture your past clients…they are invaluable. How invaluable? Here’s a cool tool from The Harvard Business School to help you calculate the value of a lifetime customer.
No more excuses. Buy a box of Thank You cards, and start sending them today.
