Repeat business is a great source of revenues, but you need to know the average time between sales in your industry.
Past clients are a great source of repeat business as well as referrals. According to Sweet Tooth repeat customers’ sales conversion is nine times higher than a new prospect. Knowing how long before they will need your services again will help you determine how long and how often to stay in touch with them. The longer the sales cycle the more difficult it is to stay in front of your past clients. You want them to think of you first when they need your service again, but you don’t want to be that annoying stalker that is constantly bothering them.
Repeat Business: Different time frame for different industries.
A furnace and air conditioning company should be doing a maintenance check at the beginning of each season. Their customers need them twice a year. If they keep in touch regularly and are hired for the ongoing maintenance, they will most likely get the bigger jobs of repairing and replacing units when they don’t work.
Once a client has invested in a new website, they don’t want to do it again very soon. Not only is it a monetary investment, but also a time commitment. There may be some updates every so often, but in couple years, they will realize their site needs an overhaul. If the web designer has kept in touch over that time period, the client will look to them to re-do the site. If they haven’t kept in touch, the client may have met another web designer in that time and decide to go with someone else.
A more extreme time frame for buying is one of the biggest purchases a person makes – their home. The average time between home purchases is currently 10 years. In those 10 years, the client doesn’t need anything from the agent. Because of that, it is easy for the agent to slip off the buyer’s radar. Chances are good that within 10 years, they will have met at least one other real estate agent. If the agent doesn’t stay in touch, the client is likely to find another agent.
Knowing how long it will be before your clients need you again is the first step to designing a keep in touch program. You need to communicate frequently enough that they will remember you and you can earn their repeat business. But you need to do it in a friendly way so they want to hear from you. If you are looking for a friendly keep in touch plan that will help your clients remember you, contact me. We can develop a past client keep in touch plan that will get you remembered and bring you repeat business.
How do you keep in touch with past clients? What has worked well for you? How long is typical between sales for your industry? Share in the comments below. I would love to hear about it.