We love some of the stats & ideas below and know that we are constantly talking about different ways to use your sphere, past clients and personal relationships for your business.
Acquiring a new customer can cost five times more than retaining an existing customer. Increasing customer retention by 5% can increase profits from 25-95%. The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.
Building a network of trust can take time but is the most cost-effective way to create increased long term success. Communicating to clients that you will always do what is in their best interest is something you can execute immediately.
Trust can be shown in everyday activities, not only through years of a real estate career.
Building value means providing important, accurate information to your network. It can be through social media to a large volume of people or through face to face interaction. The more information you can provide, the better.
There are multiple ways to interact with clients now. Daily video messages, social media BombBomb…
”It’s a contact sport.” That level of exposure gets your name and face out there so when people are ready to buy or sell, they remember your messaging.
Give value away through video. It helps the consumer feel like they are getting to know you so when they reach out, it’s as if a relationship has already been formed.
Be a resource to your clients for more than just real estate. While it may require more work, it builds that trust that keeps clients coming back in the long run.