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6 Ways to Build Client Loyalty

Retaining 5% more customers boosts profitability 75%, according to research. However, not every loyalty marketing system works equally well for each agent.

NEW YORK – Research shows that a 5% improvement in customer retention can boost profitability as much as 75%. That makes it important for real estate professionals to provide value to existing contacts.

There are several strategies agents can use to boost client retention, and not every strategy works for every real estate agent, so they should be willing to experiment.

  • Send monthly newsletters to keep in touch with clients. The newsletters can position themselves as industry experts by providing valuable and relevant information.
  • Host client appreciation days to strengthen existing relationships and network with new contacts. These events should be casual, like a backyard barbecue or a bingo night, to make clients more receptive to forming an authentic connection.
  • Obtain additional certifications and expand their industry knowledge. This makes it easier to establish trust and strengthen client loyalty.
  • Provide ongoing homeowners’ checkups. With these, they can discuss the client’s current housing situation and offer information on the local housing market.
  • Make small gestures to show their appreciation to clients. Give gift cards to local restaurants or bottles of wine, for instance.
  • Pay attention to clients’ personal interests and show they care about their lives outside of a professional context.

 Source: Inman (05/09/19) Matthews, Kayla

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