YOUR BEST FORM OF ADVERTISING

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Education & Training with Performance Development Strategies

 

Your best form of advertising is your current clients.  That's right, and it is also the most economical.

Peter Drucker said that the purpose of business is to create and keep a customer. It is really that simple. Creating a customer is done through a clear message and marketing but keeping a customer is based on performance. Not enough of us really focus on the retaining customer part of that equation.

How many times have you heard, "what separates us from others is our service."  I hear it all the time but does the speaker really know what that means? And also, too many focus on customer satisfaction to determine their customer service measurements. This measurement does not get to the heart of what separates them.

Some also make a mistake in the method of measuring the voice of their customer. Asking people to write a rating on social media is MARKETING not measurement. Measurement is consistent, private, and asks for the good, the bad, and the ugly. This gives management a dashboard for continuous improvement.

Satisfaction surveys are unable to predict customer behaviors because they are built on faulty foundations. Many organizations assume that high levels of satisfaction translate into customer loyalty when, in fact, customer satisfaction ratings are more closely linked to your customers’ perceptions of your products or service attributes rather than to the value gained by those products or services or your product or service compared to competition.  It is all about the perceived value proposition.

Satisfaction is a measurement of, “I expected it and I got it; therefore, I’m satisfied.” If this were translated into a grading system, satisfaction could easily translate into a grade of “C” on any report card. The desired score is obviously an “A” and A’s always equate to loyal customers. A’s imply that customers got more than they expected and their expectations were exceeded in some way. Based on what is truly important to customers, they received more value from you than from your competitors.

Perceived value as defined by customers (as opposed to being satisfied) creates loyal customer relationships, and customer loyalty is the best predictor of your future strength and growth potential. The value you provide to your customers is always compared to the value your competitors provide; therefore, value is your customers’ perception or your relative to similar real estate agents or other service providers—your competitors!

 

Great Leadership

The best way to create perceived value in the eyes of your customer is to always exceed their expectations.

In summary, create a system to survey every customer on each transaction or service. You will know if you are continuing to exceed expectations and if the measurement starts to fall you can immediately make adjustments. Loyal customers are your least expensive form of advertising and it can best be summed with the survey question, “How likely are you to recommend us to your friends?”

For a similar post on our web site see HOW DO YOU DEVELOP A LOYAL CUSTOMER BASE?

 

Need help in creating a system to measure the voice of your customer?

Contact Us for a Free Consultation

or call 914-953-4458.

 

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 07/02/2017 01:00 AM
  2. Tony and Suzanne Marriott, Associate Brokers 05/16/2017 06:51 AM
  3. Debbie Reynolds 05/17/2017 07:56 PM
  4. Gabe Sanders 05/23/2017 11:50 PM
Topic:
Real Estate Best Practices
Location:
New York Westchester County Armonk
Groups:
Coaching and Mentoring
Tags:
building customer loyalty
measuring the voice of your customer
business coaching in westchester county ny

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Ambassador
3,326,709
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Keeping our past and current customers and clients is easier than having to start over from scratch each time. 

May 17, 2017 07:54 PM #59
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Gabe  - yes they do. and using critical feedback helps us improve. 

Mary - you are right.  It should be customers and colleagues. 

Debbie- that is for sure. New customers don't know your worth. 

May 18, 2017 04:35 AM #60
Rainmaker
4,234,020
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Congratulations, Grant, on your feature recognition. This is especially good advice to share.

May 18, 2017 05:29 AM #61
Rainmaker
2,708,141
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again Grant and well done. While I agree with everything you said here in my personal experience you still need to stay in touch and continually ask for the cookie.

May 18, 2017 06:50 AM #62
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Roy - thanks for your support. 

Sheila - ok, that sounds like a plan. 

May 18, 2017 10:20 AM #63
Rainer
110,001
Shahar Hillel
Augusta Financial Inc. - Stevenson Ranch, CA
Mortgage Consultant, Loan Officer.

Grant hello.

Thank you for this important post.

Congratulations on being featured.

May 18, 2017 01:20 PM #64
Rainmaker
836,809
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great article Grant!  So true. Exceeding expectations is what's all about, and the best way to approach real estate in my opinion. 

May 19, 2017 03:36 PM #65
Rainmaker
3,201,099
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Grant

An informative post . . . . Your insight is right on point.

Good luck and success.

Lou Ludwig

May 19, 2017 07:59 PM #66
Rainmaker
3,201,099
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Grant

Congratulations on receiving the feature for an outstanding post.

Good luck nad success.

Lou Ludwig

May 19, 2017 08:00 PM #67
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Shahar - thank you for stopping by.

Jan - or any other business as well.

Lou - thank you.  Have a great day.

May 19, 2017 11:27 PM #68
Ambassador
2,197,505
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Grant!  YES, it's far easier to cultivate an existing relationship, than work your fingers to the bones towards new business relationships!  

Give them what they want, exceed their expectations and they'll be raving fans!

Happy Sunday!

May 20, 2017 09:02 PM #69
Rainmaker
2,074,648
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Good morning, Grant... there is nothing like referral and repeat business from a past or current client... it's where I get 75% of my business year in and year out. But to achieve this not only do you have to provide world-class service, but also stay on top of your client base month in and month out, year in and year out.

May 21, 2017 04:37 AM #70
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Debe - right on.  It is easier and smarter to keep your loyal customers.

Nina - that is a testominal to your exceeeding their expectation.

May 21, 2017 05:43 AM #71
Rainmaker
2,761,883
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Grant -- such a smart post...

May 21, 2017 10:06 AM #72
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Michael - thank you.  I appreciate that.

May 21, 2017 08:17 PM #73
Rainmaker
2,543,436
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Gee golly whiz and I didn't even read this before I wrote our post today...the ones we enjoy are the ones we don't ask for....such a sweet surprise !

May 24, 2017 01:15 AM #74
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sally and David - yes it is a great and sweet surprise.

May 24, 2017 08:02 AM #75
Rainmaker
3,914,677
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Grant Schneider business will follow you when you do your job so that it's memorable..... they won't forget.... and when you are visible with your marketing, you need not focus on followup after closing.... I never had time to follow up with people and mail birthday cards, etc.... but they did not forget me...

Jul 02, 2017 02:34 AM #76
Rainmaker
1,393,697
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Grant Schneider Thanks to Roy's re-blog, I found this fine post from you. We must undertand that WE drive the process of exceeding customer/client expectations. The systems in place for closing the transactions are merely the 'shell'.

Jul 02, 2017 05:11 AM #77
Rainmaker
1,351,576
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Barbara - that is right.  The real way to make them raging fans is through your work.

Sandy and Norm - we do.  We have to strive for that 10 out of 10.

Jul 02, 2017 11:26 AM #78
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