The Importance in Recognizing a Client’s Lifetime Value

Published: 12 December 2014

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The importance of repeat business

“It takes a good sales person to close a sale, but it takes a great one to sell to the same person twice”, is a less than inspirational quote I just found in an online piece offering sales advice.
I read this and instantly thought “I completely disagree!” In my opinion most sales orientated industries thrive on repeat business.

Surely at some point, buyers become sellers, and perhaps those sellers may have other properties to sell? Therefore regardless of whether they start off as buyers or sellers, often new clients can eventually become repeat clients.

It made me wonder how many real estate agents might be taking this “one sale” approach, when there could be another sale or two to be had by merely by maintaining contact with past clients. In fact, according to a study carried out by Zoopla the average person will move home every eight years, that’s a possible eight sales opportunities!

I think there’s a lot to be said for building a client database and nurturing them, whether that’s sending out an email every once in a while to touch base, keeping in touch on social media or sending an annual Christmas card. The key to gaining that repeat business is in maintaining relationships with clients, staying at the forefront of their minds, so when the time comes round again you’re the first person they think of.

So to my original point, I don’t think one sale makes you good, or two sales makes you great, I think providing the best possible service, building relationships and staying at the forefront of your prospects minds is smart.


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