50% of your clients will leave you.
If you have any kind of a business, it is absolutely essential that you know these scary stats: After 5 years, at least 50% of your clients, who loved you at the time of your service, will leave you and use a competitor. It’s even worse for realtors: 80% of homeowners say they will use their realtor again but only 20% of them actually do, according to the NAR. Yike!! Why is that!!
A few years ago, ASID, the American Society of Interior Designers, conducted a very extensive study. They determined that you will lose half of your clients that you spent marketing dollars to acquire and worked tirelessly to please. They are leaving!! Stats don’t lie.
The survey revealed that 1 or 2% died, 3% moved away and 3% were lured away by competitors. Not surprising. But the shocker is: 68% of them leave you because of perceived indifference. I was speechless when I heard this at a continuing ed class, a few years ago.
Also, according to stats, it costs 5 times more to acquire new clients than it does to keep your existing clients. This is another surprising reality. But this can be good news!!
So, with this knowledge, how do I make sure that I am creating a system to maintain happy, life-long clients? It’s called TOMA… Top of Mind Awareness.
Here is my plan, in order of importance:
- Every 30 days, send out a newsletter to all present and past clients.
- Every 6 months, call just to catch up with them. “How are you? I was just thinking about you.”
- Send a seasonal card, like Thanksgiving or Christmas.
- Plan to take your best agent clients out to lunch periodically.
- Occasionally, drop off a basket of sweet treats from Panera Bread to your favorite RE offices.
- Plan an active social media presence that includes helpful tips and beautiful photos, not ads.
You CAN do this. It’s not that hard. Set up a system for contact and engagement and you will double your business. That’s it folks!! Happy Connecting!!