If you are like many of our existing partners, you’re probably generating copious numbers of new leads and never been busier. This is providing an ideal opportunity to be growing your business.
We’ve long known that to grow your business it’s critical to not only generate leads to create new clients, but to also retain existing clients.
It appears that the majority of these new leads are being generated by word of mouth through clients’ friends and family. Have you asked yourself what your existing clients’ friends and family are saying to your client? Are they suggesting your client go somewhere else for their finance needs?
With interest rates at historical lows and the property market booming, it is more than likely your existing clients are looking to either refinance or move.
As a result, now more than ever it is important to have in place an effective retention strategy.
Putting in place retention strategies for existing clients can be achieved with an effective engagement and qualification strategy. After all, it’s no use just staying in contact with them, you also need to know those who are likely to require your services in the near future.
There has to be a better way to determine clients who require financial assistance versus those who do not without the time consuming process of calling them individually.
With an effective and efficient process, it can take as little as a few hours each week to carry out these activities, leaving the majority of the week for you to focus on the delivery of your services.
When it comes to cost effective engagement many brokers immediately think email campaigns because they are more affordable, however most affordable does not necessarily mean value for money.
We’ve long held the assumption that not only is print going to position your business in higher regard due to its professionalism, it is likely to obtain a significantly higher cut through because of its physical form.
Recently, we performed a detailed analysis of our highly successful competition. The results determined that a print engagement program not only achieved higher engagement than email but the average cost of an enquiry generated by print is lower. It can also be utilized with many lead generation strategies!
How can that be? We all know open rates for emails are substantially lower than those of an addressed envelope. We’re also tipping that clients are more engaged with the content when it is being held in their hands physically versus being able to delete it with the press of a button.
Every business is unique and accordingly there is no one size fits all retention and qualification strategy to grow a business.
When determining your strategy to retain and engage your existing clients, you need to consider the following:
- Does your strategy include compelling and engaging content that triggers your clients to action?
- Are you present and delivering content across at least two communication channels where your clients are to be found?
- Is the delivery of this content performed on a regular basis and in a timely manner?
- Are you utilising soft qualifying tools to build a profile of your clients to determine when and what to call them about?
- Do you have a system in place to capture and track your client history allowing you to prioritise your calls?
- Have you allocated appropriate resources to deliver the retention program for the long term?
Unsure how to position your business at the top of its game and increase your chances of client retention?
Click here to book a call with one of our Marketing Consultants so we can share our knowledge on how to formulate an engagement and qualification strategy that will achieve your specific objectives.