Strategies To A Better Client Retention in Property Management
Boost your business with these client retention strategies
By Faraaz Hashmi
When a company or a business is just getting started, it’s all about getting as many potential clients as possible. Although it is quite hard to begin with, as the time goes by and the company starts to grow and thrive; the effort should be put more on strategies to retain the clients that they have initially acquired. Wondering why? To begin with, it is generally less costly to have current and returning clients than to try and acquire a new one. Especially because returning customers are more loyal and spend more than new customers who are still hesitant to spend.
Worry not! Skybridge Property Group has prepared a list of strategies you can use to improve your client retention starting today!
Good communication is the key to a good relationship with anyone. That’s why it’s very important that you keep your communication channels open, and be ready anytime. Clients love it when they are entertained constantly no matter how many questions they ask. It indicates that you value them, and you are ready to assist them anytime.
Communication to a relationship is like oxygen to life. Without it, it dies.
Consistent and Exceptional Service
Always deliver a consistent and exceptional service so that clients will always be pleased with the services you serve to build trust. Trust that you can excellently deliver any service from you and that they will never be disappointed. It is good to keep the clients pleased at all times.
Ask Feedback and Suggestions
Show your clients that you value their opinions and suggestions. This way, you’ll get to address every concern they raise effectively. Aside from this, you will also benefit from this because you’ll have an insight on the things you must improve and fix for the business to improve and please all the clients.
Show your love for your clients by showing them that you recognize their loyalty. Give them a small reward, it doesn’t have to be grand. Small things are greatly appreciated as long as the people you’re giving it to feel appreciated enough to get a present. At this point, the trust level of your clients will increase, because they will see that you care for them, and are even willing to give them small gifts as a token for their loyalty.
Use a Communications Calendar
The communications calendar contains the dates in which you will communicate with each of your tenants or clients, to see if they are doing well, have concerns, or satisfied with the service you deliver. By using this strategy, you will have a consistent and fair communication with all your clients without overlooking something.
While we all know that businesses and corporations rely on increasing profits, it is also critical to consider what the service would provide to the clients. Convenience is the most important aspect of the experience you want them to have. You should make them feel that they are and will always be convenient as long as they are your client.
As mentioned in the strategy above, you should always provide clients with convenience. Personalization can come in handy in this situation. In what way? Ask for their preferences and all the things they are looking for in a property, then provide them with property management services that you think suit them best. This way, you’ll be able to deliver them a personalized service that would make them feel convenient and satisfied.
In the industry, referral programs are a win-win situation.Your customers will refer you to others, and you will simply thank and reward them with some money for doing so. You will be able to recoup the incentive you gave to the referrer in the long run, particularly if the new client begins to spend more on your services. This way, you will be able to help your clients and yourself gain some money — which will then result in a better relationship and trust with the clients.
We hope you find these strategies helpful in increasing client retention in property management, and that you’re now ready to put them into action to strengthen your strategies! Goodluck!