JULIAN SAYS…

The cost of attracting new clients is significantly more than that of maintaining a relationship with existing ones, yet agents do not necessarily place enough emphasis on the latter group. Too many neglect this potentially loyal future customer base in pursuit of new customers, and yet are disgruntled when they drive by a property which they sold several years previously and see a competitor’s board outside.

Repeat business in estate agency is critical. The creation of ‘raving fans’, as Ken Blanchard outlines in his brilliant book ‘Raving Fans – A Revolutionary Approach to Customer Service’ is not always high on an agent’s agenda. This may be because the creation of repeat customers seems of relatively little short-term value, given that a recent IMLA report revealed that people move on average every 23 years.

Exceptional service is way better than good service.

Bands and football teams have raving fans – people who pledge an undying allegiance, and who would never consider ‘supporting’ other options. Estate agents are a less likely entity for such long term loyalty, but they can secure it, and those that do reap the rewards. ‘Raving fans’ do more than come back to you. They are ambassadors for your business. They recommend you, refer you and promote you.

If your business objective is to increase market share and profitability, then any efforts towards building the largest possible group of raving fans will certainly pay off.

Here are some tips to increase and maintain greater customer loyalty:

1. Provide exceptional customer service

Exceptional customer service is way better than good customer service. Exceptional means special, standout, memorable, unique and going the extra mile to meet customer needs. Positive customer experiences result in repeat business, which means that all stages within your customer and client processes – all the stages they experience with your company – need to be noticeably superior to those of your competitors. If your customers do not receive an ‘Exceptional’ or ‘Awesome’ service, then there is work to do!

2. Communicate with customers

Whether it’s an email newsletter, a monthly letter, an annual invitation for a free valuation, a Christmas or birthday card, an occasional call to see if your customer has any current property-related issues, it’s crucially important to contact the customers on your database. If your business has a social media presence, maximise this channel of communication by inviting people to your page or website and keeping that online element fresh, educational, interesting and engaging.

3. Staff loyalty increases customer loyalty

Loyalty starts at the top of any business and works its way throughout the company. As a leader, if you’re consistent in your decisions and actions and display a willingness to nurture, develop and take care of your employees, you’ll earn their trust.

If you’re a competent leader, you’ll earn and retain your employees’ respect. If you have honesty and an appropriate moral compass in all of your dealings, your employees will be proud to work for and with you.

This will reduce staff turnover and help build longer-term relationships with vendors and landlords, who are pleased to be able to deal with the same trusted individuals over a number of years.

4. Train your troops thoroughly

Training is critical, it will equip your staff to raise standards of behaviour and skills to improve the customer service experience.

Training sessions should be a positive, motivational experience. Dull training sessions are a waste of time and can create a negative attitude toward the company – some sta may even see training as a punishment.

An investment in outside training expertise would be ideal, but if this is beyond your budget, ensure there is some regular internal training as part of your business culture.

5. Show the human touch

The frustration of not being able to contact and speak to a human being when our time is precious and we are perhaps in a stressed state of mind cannot be underestimated.

“Dial 1 for sales, 2 for lettings, 3 for admin,” etc. followed by more options drives us all to distraction. Make it easy for your customers to talk to you – they will appreciate it.

Your brand and marketing hooks people in as customers but once that first contact has taken place, it is all about the human to human interaction. If that experience falls short of expectations, the customer’s confidence and trust in your business evaporates.

You and your troops need to be the trusted team that clients and customers enjoy interacting with and who are seen as consistent in all dealings.

A BAND OF FANS

These tips assist in creating a band of fans of your business. It is worth reviewing whether your business has the balance right between investing in branding and technology, compared to the human elements.

After all, as Will Rogers said ‘If companies spent the same amount of money on improving their services as they do on advertising then they wouldn’t have to advertise them.’

Julian O’Dell is founder of TM Training & Development