SPEND LESS ON CLIENT ACQUISITION, BOOST LOYALTY AND REFERRALS

Source: RisMedia — 

The real estate industry spends way too much money finding new clients. Approximately 20% of all marketing dollars go toward adding new clients, only to lose them as they leave the closing table. Compare that to companies such as Southwest Airlines, Nordstrom and Marriott that spend less than 4% of their marketing spend on new customer acquisition.

Why the discrepancy? For one, clients typically go five to seven years between home purchases. It can be difficult for agents to maintain consistent engagement with past clients for that long. These dynamics tend to lead to a heavier focus on new client acquisition.