Jul 1st, 2017
Take a moment to think about all the deals you have closed over the years.
How many client files do you currently possess?
Can you name all of your clients, where you met, their family makeup?
When you finished closing the deals and you received your commission... what did you do with the client record?
There have been numerous studies over the years regarding customer acquisition vs retention and the best way to grow sales. I will spare you the details and provide a link to view a simple infographic and a list of additional resources on this information.
What I do want to be clear on is that it is about 5-7 times more expensive to find a new customer, then it is to keep a current customer happy. The fact is if you focus on selling to existing clients, you can increase your revenue by a minimum of 25%.
Now think about it, you can grow your practice, grow your income without creating new products or spending time finding new people. Take the time to focus on finding the right message and the right method to continue reaching the clients who already know, like and trust you.
There are far too many business owners focused on growing their practice, but with no solid direction or plan. Most sales professionals I've worked with over the years tend to close the deal and the client file is put away. Stored among the many clients they have worked with through the years. Does this sound familiar?
Are your clients' records put away?
If there's no follow-up, then there's no contact, there's no conversation. How do you intend to grow the relationship? How do you intend to continue serving them? How do you intend to gain referrals?
Your clients need you to solve the problem you are the best at solving. Focus on what this problem is and how you can help them even more.
I'm going to help you begin developing your sales practice secret weapon right now.
Take a moment to focus on the big problem you solve for your clients. What information are your clients naturally searching for? Now use the short SETI Method to develop a plan of action.
The S.E.T.I. Method stands for Sort, Examine, Template, Implement. This is a simplified technique I use in my practice and with my clients to quickly develop a sales practice secret weapon for any industry.
Begin by sorting your clients into groups based on similar purchase habits. To keep the process simple, try to stick to the number three when creating your groups.
Once you have three groups, examine the history to verify which of the three is the most profitable for your practice. This can be done in a number of different manners based on the type of sales practice you operate. If you're a Realtor you may choose to group clients into buyers, sellers, and renters. If you're in financial planning you may choose groups aligned with product types or a specific location.
Once you define your groups, clarify why they are who they are. What is it about them personally that connects the group members? Now you can begin creating a customized plan to keep in touch with each of your groups. Determine the best message and connection methods for each group to begin implementing.
This plan, as simple as it may seem is rarely mapped out in a sales practice. The communication template you have now developed is your client retention plan, your sales practice secret weapon. You should continue to tweak or change the template plan as you go.
Once your template plan is developed, try to find tools to help automate the implementation process of your sales practice secret weapon as much as possible. Remember to check out the infographic and list of resources using the link included here. Click here to connect and schedule a free 4th of July BONUS strategy session to help you automate your sales practice secret weapon!