Think for a moment about the marketing you’re doing right now to get buyers and sellers.
You spend a considerable amount of time, energy, and maybe even money on those activities, right? After all, lead generation and conversion are two of the biggest priorities for real estate agents.
But, how are you marketing to those buyers and sellers after they agree to work with you?
MARKETING IS MISUNDERSTOOD
Most people think of marketing as the process of getting clients. Yet, the American Marketing Association defines marketing as:
“The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
In plain English, marketing is about both getting and keeping clients. That means even things like returning client phone calls, sending listings to buyers, and giving showing feedback to sellers are marketing.
Have you ever had a buyer disappear and then later you find out they bought through another agent? Have you ever lost a listing, either because it expired or the sellers canceled the listing agreement?
If you answered yes to either of those questions, you’ve likely experienced the consequences of failing to market to existing clients. And you’re not alone.
Most agents are trained how to get clients, but not how to keep clients. As a result, most agents experience the frustration of lost buyers and listings.
Marketing to your existing buyers and sellers doesn’t have to be expensive or time-consuming. In fact, setting up just a few simple systems will not only help you keep more of your clients, it will wow them in the process.
Here’s what you need:
1.) A system for keeping in regular touch with your clients. It can be via text, email, or call and you’ll want to reach out at least once per week. Sending listings or forwarding showing feedback doesn’t count.
2.) A system for quickly responding to client emails, calls, and texts. You don’t have to answer the question or address the concern in the initial response, but at least let your client know you received their message and are working on it.
3.) A personalized “thank you for being a client” item you’ll send once someone agrees to work with you. A handwritten note, small gift, flowers, or candy are good examples.
4.) A “how are you feeling about the process” phone call sometime during the listing or property showing process. This shows you recognize buying or selling can be stressful and gives the client the opportunity to raise any concerns or questions.
If you don’t have any of the above in place right now, start small by implementing just one of the items. Then, continue to implement one item at a time until you have all four.
You’ll be amazed the impact marketing to your existing clients can have on your business.
P.S. – Do you already market to your existing customers? If so, I’d love to hear what you’re doing.