Client Retention

By
Mortgage and Lending with First Centennial Mortgage NMLS #194290

How many of us say that retaining and nurturing our clients is vital to business sucess?  Experts say it's five times more expensive to obtain new clients than to retain current customers.  Building personal relationships with your customers can be a foundation for generating new leads and repeat business.  I believe the secret to keeping your customers is having a retention plan in place.  Here are some effective customer-retention practices you can use:

  • Marketing to existing clients.  Past customers that trust you are likely to do business with you again.  Experts say to "touch" your existing customers at least 6 times a year.  Strategies to do so can include phone calls, holiday cards, newsletters (E-newsletters, even more cost-effective) with added-value content and company news, press releases, and flyers announcing specials and discounts.
  • Commit to calling 2 existing clients per day.  Ask for feedback on how you can better serve their needs.  Discuss how your product or service is working for them, and if they know somebody who would benefit from your service.  Share resources that can help your clients reach their objectives.
  • Position yourself as a provider for life.  Early in the relationship, thank customers for entrusting you, share your desire to help, and invite them to discuss their biggest requirements.  Offer your clients an open line of communication for questions regarding your industry and expertise.  Remember, the more you learn, the more you can offer them.

I hope someone benefits from this blog!  I've always loved these tips!

 

Comments (2)

Marc Baysek
Iron Horse Properties, LLC - Rockingham, NC
Iron Horse Properties

I've heard that you should spend 80% of your time servicing existing clients and 20% trying to obtain new clients.

May 27, 2008 08:49 AM
Dennis Beckner
Beckner Mobile Notary - Rancho Santa Margarita, CA

The cool thing about those tips is they are all relational. For anybody in our field, doing well often comes down to building friendships. If you know how to make friends, follow up with them and talk about how much you love what you do, you shouldn't have a problem retaining clients. People love attention. Give it to them and they'll return the favor.

May 27, 2008 09:10 AM