When a business is just starting out, it’s all about landing as many new clients as possible. Over time, however, as the business continues to grow and thrive, more weight should be given to retaining the customers you’ve already won. Why? Well, for starters, it’s actually less expensive to retain an existing client than to attract new ones. Not to mention loyal customers tend to spend more. So, what can you do to keep the existing clientele of your property management business happy? Here are five steps to start implementing today.
Deliver Exceptional Service (Always)
Providing great service is a given, but maintaining the highest level of care with each and every interaction – that is, going above and beyond to delight your customers – is what will set your company apart from others. It’s also what will make your existing clientele want to stay on for the long haul. Figure out what matters most to your customers and then make solving that need a focal point.
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Nurture with Email
They say it can take up to 8 touches to convert a lead into a paying customer, but that nurturing process shouldn’t end there. To the contrary, customer loyalty should be built on a foundation of long-term, mutually beneficial relationships. By staying in touch regularly via email, you can deliver a continuous stream of valuable content to your clients while also keeping your brand at the top of their minds. It’s a win-win!
Stay Connected Socially
Social media is a powerful tool for marketing and reaching new customers, but it’s also a great vehicle for staying connected with your existing book of business. Plus, the more engaged your customers stay with your brand, the more likely they’ll be to not only remain loyal to you, but also recommend your property management services to others. Make regular interaction with your social media fans and followers part of your daily routine and don’t skimp. Over time, it will pay off big.
Train Staff Accordingly
If you’re going to accomplish sustained customer retention, it’s got to be something everyone in the company strives for together. Build client happiness right into the culture of your business and train every single employee on the importance of going the extra mile. You may even wish to incorporate retention rate into your employee performance plans to give them even more reason to focus on customer loyalty.
Related Post: 7 Ways to Create Exceptional Customer Experiences
Reward Loyalty
Finally, if you want your customers to stay loyal to your property management company, give them ample reason to do so. Beyond just delivering exceptional service, implement a rewards program that will incentivize your clients to stay on board with your company for the long term. Perhaps you could offer a small discount on your property management services for customers who have been with your company for a certain amount of time, such as 3, 5 or 10 years. Figure out what works for you and what would most likely get the attention of your clients and then run with it.
Without question, the property management industry is highly competitive. Rather than investing in the painstaking process of wooing new customers, focus instead on keeping the ones you have now happy and content. The higher degree of client retention you achieve, the more solid a foundation you will have upon which to grow your business in the future.
What tips or tricks do you use to entice your customers to stay? Please share in the comments below.
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Take your customer service to the next level! Get your free copy of the Property Manager’s Guide to Creating an Extraordinary Customer Experience.
