You can only milk a Cash Cow for so long.
I just had to re-post Valarie Zinger's post on keeping in touch with old clients to keep those ties going and perhaps getting leads along the way. Let up on the verbal and written connections and you will lose potential leads from these past clients.
In a previous post, I talked about the four types of clients/customers. The Cash Cow is the long time client, who has given you work in the past and will be referring you to friends and family now and into the future. HOWEVER, and there is always a but, the Cash Cow needs care and attention or it die off as a source of income.
How do you care for your Cash Cow Clients?
- Never take these clients for granted. A Christmas card once a year is something that the furnace repairman sends out. You need to ensure you do better, that you have more contact and that you are informing and giving.
- You know the anniversary of the house purchase and you probably have the birthdays for the buyers / sellers on the legal documents and identifications. Use these for sending your Cash Cows birthday and house anniversary cards - that you write.
- Buy a smoke detector for the new owners and every year show up with replacement batteries. Take away the old ones and you will have ensured that you were in the house for a few minutes and had some personal time with your clients.
- Is there an interesting development in the neighbourhood that you know about? Send that information to your clients living in the area. Maybe encourage them to take in a park concert (and surprise, you are there).
- Another idea - how about the last five sales in the area. The new owners are going to be curious. The previous owners will be as well. If any of them are your clients, send them the listings, the DOM and an indication of the sale(s) such as a bidding war. We - you, your clients and I - all want to know how things are going in the neighbourhood.
Keep in regular and positive contact with your "Cash Cows" because, when starved, they will be looking for better pastures and yours may not be it.
Photo credit: RPPC: Creamery, Constantine, Michigan--horse-drawn load of 48 milk cans.
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