Your Customer Base Builds Your Business, So How Do You Build Your Customer Base?

Posted by:

You’re probably running several different marketing campaigns right now and deciding on the next one or two to try.

You’re spending a few minutes here and there on social media so that you have an active page.

You update your website regularly or have some automated features so that it looks refreshed every so often.

You’ve set aside blocks of time to make cold calls, to go out door knocking and to spend at networking and community events.

The 80/20 rule comes into play when 20% of your efforts are bringing in 80% of your results. But which 20% should you be concentrating on to grow your business?

Which parts of the 80% are repeatable and will grow your business each and every year?

Each home sale puts a new “past client” on your list. Are you using that client to help you build your business by providing them reminders of your service and give them the opportunity to refer new business to you?

The “repeatable” part of your business is what earns you a steady income. You sell a house, the house equals a commission and a past client, the client likes you and appreciates your excellent service and recommends you to their family and friends, generating referrals for you.

Repeat this often enough and you become a successful real estate person very fast.

Don’t repeat it and you’re looking for another job.

There are many ways to help your past clients introduce you to new clients that will grow your business.

Here is the top way to generate referrals from past clients that you should be doing regularly:

Provide your past clients with valuable information about the services and events in their neighbourhood. You can recommend them to trusted local services, community events, new business openings and related local information that shows you are an expert in your/their area and are ready to help them through the various stages of home ownership, going beyond the home purchase phase of your relationship.

You can send out email newsletters and personalized mailings to keep in touch with your past clients.

Tip: Add a request that they help you reduce waste and costs and join your email newsletter on every personalized mailing you send.

By building the referral opportunity with your past clients you will create a referral list that becomes the growth part of your business.

Your growing client list is the one aspect of your business that you have total control over, no matter which advertising and marketing routes you take. You will reduce your “cost of acquisition” by treating past clients like the valuable resource they are.

This is also the equity of your business which is something that you can build a real estate brokerage upon, should you decide to take that entrepreneurial step.