The Fortune is in the Follow Up
At one of the open houses nearby we met a very agressive Realtor. She was also an Interior Design student and used her skills to make the homes she was selling even more attractive by updating the inside and outside of the house for faster selling.
Well, we hired her and low and behold: She sold our house FAST, and we made a lot of money from that sale.
Once she sold OUR house, she also found us another house very quickly. The whole transaction between the two took about 45 days. We were happy with our Realtor and we let her know it.
Well, about two years later, we wanted to sell the house she found for us. The market was good and we stood to make some good money from the sale. We also decided to try to get on HGTV’s Design to Sell, which we were featured in May 2005 (Episode 308).
We hadn’t heard from our Realtor in three years since we moved into that house.
As far as we know, we were pretty easy to work with. So, I’m not sure why she wouldn’t want to work with us again. And, we know for sure, that her commissions on the sale and purchase of our homes was over $20k. Who wouldn’t want to make that kind of money again?
So, what was her problem?
It was LACK OF FOLLOW UP, that’s what!
She was good at getting the new client, because when she met someone at an open house, they were amazed at how the house looked, and she could take credit for it. (Instant credibility) But, quite frankly, what she lacked was a “System” for follow up with her past and current clients.
In case you didn’t realize, it costs 5x’s to 20x’s more money to acquire a new client than it does to follow up with your past clients on a regular basis and ask them to do business with you again.
If your past clients are happy with the work you’ve done for them, why wouldn’t they want to do business with you again?
All it takes is a systematic approach to following up with them on a regular basis. In the most basic form, it’s all about relationships that you build over time with your clients and prospects.
Some experts say you should “touch” them AT LEAST 10-12 times over an 18-month period.
I suggest that if you’re communicating by mail, no less than once a month. Use a client newsletter to build and maintain the relationship. My mentor Dan Kennedy says, “Nothing, and I mean nothing, builds an iron fence around your herd like a regular monthly customer newsletter.”
If you’re using email, I suggest at least once a week. If you wait longer than that, it’s like 6-months in Internet time.
There are lots of tools available for follow up, including the use of auto-responders, email newsletters, hard-copy newsletters, monthly offers, Client Success Articles, Special Reports, Videos, Audios, or…”Whatever!”
You MUST have a “system” in place and don’t forget about the people you’ve done with in the past. As long as you haven’t burned any bridges, they are very likely to do business with you again.
If you need any help designing your follow up system, I am happy to help. Please email me to set up a time to speak on the phone.
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Dedicated to helping you multiply your income in 2013 (and beyond!),
“No BS” Craig