How Customer Experience Creates Customer Loyalty in Real Estate

 

In December 2016, I had a great opportunity to travel to Australia to go on a keynote speaking tour, visiting Sydney, Melbourne and Gold Coast, to work closely go with LJ Hooker (Australia’s largest real estate company). During our time together we worked  with their highest performing real estate agents and franchise partners to teach them how to create an experience their customers have never seen before.

While in Sydney, I caught up with Graeme Hyde, LJ Hooker’s COO, to discuss customer experience within the real estate industry. I asked him questions like:

  • How are real estate agents using customer experience to grow their business?
  • Are real estate agents properly using digital marketing to serve their customers?
  • How can real estate agents leverage tactics to increase customer loyalty?
  • What do real estate agents need to do to build a career of longevity?
  • Plus more

Be sure to share this video with any real estate professionals you believe would find value in the education.

If you’re looking for a keynote speaker for your next event, please contact me directly by clicking here.

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How to Avoid These Four Customer Loyalty Obstacles

I don’t think I need to convince you of the importance of having loyal customers to support your business. Customer loyalty influences organic growth (repeat purchases and word of mouth marketing) which can be the most profitable way to grow a business. However, some companies may never achieve customer loyalty because of four key reasons.

1. Not accurately identifying your loyal customers

 

Who are your most loyal customers? You must be able to answer this question in order to better understand how to achieve true customer loyalty. Many businesses may have an idea who their most loyal customers are based on intuition but you need data to support this. Once you have identified who your supporters are, you can then begin to understand what their desires and motivations are.

2. Discounting doesn’t provide 100% loyalty

 

Your most loyal customers are supportive to your organization because of quality, not because of a discounted price. Often, customers will pay a premium for a superior customer experience rather than a bargain rate. Consumers that focus their attention on price can often be lured away by another company that is providing a lower price. The price game doesn’t earn true customer loyalty.

3. Trying to make everyone loyal is a fools game

 

You must accept the fact that not everyone will be loyal to your brand. Trying to make everyone loyal will test your endurance and may negatively effect your morale as you inevitably find that this isn’t possible. If you’re familiar with the Net Promoter System, customers who rate your service or product a 7-8 (passives) are often customers who aren’t loyal. Although, you always want to stay focused on your entire customer base, paying particular attention to detractors (those that give a score of 0-6) and promoters (9-10) will be more valuable to your organization because they highlight your strengths and your weaknesses.

4. Not being able to think long term 

 

Growing a foundation of customers who are genuinely loyal to your brand can take years. Those who are able to think long term will be able to make strategic decisions which will support their organizations growth for years to come. To achieve customer loyalty, make decisions in the short term that will positively effect your long term customer initiatives and programs.