Ways to defend against customer defection
According to Nielsen, customer disloyalty is on the rise and this is going to affect growth and return on investment.
In order to combat disloyalty and maintain customer retention, a specific strategy must be followed to avoid any disruptive sales cycles.
Brand Position: The first aspect that helps prevent customer defection is the maintenance of brand position. It will be critical to maintain a unique brand positioning throughout your market; this includes brand awareness. Price isn’t the only determining factor, especially when it comes to a customer’s perception of service delivery.
Price and Size: Of course, every customer is price sensitive and that means maintaining the value proposition within every transaction. Ways to position a price differential when delivering a service is the return on the investment, the speed to market, and even the higher percentage a price gained by the seller, as it relates to agents who are the listing agent.
Especially with listing agents, the ability to present a full platform to market and position any property listing is key. Not only including a wide and quality assortment of photographs taken by a professional but also a video tour and even drone video photography is a must now.
It’s all about success rates.
Specialization: In the retail industry variety is important. But in the real estate industry, specialization is critical to establishing one’s unique selling proposition.
Every property is unique. Every property requires a unique staging and selling strategy. Buyers and sellers need to have access to what they need and when they need. Agents need to maintain high visibility to attract new buyers to listings using a variety of means and strategies.
Expertise: Not all properties can be treated equally. Before listing the property, consider if the agent and the location are a good fit. Too often a listing agent may be brought in from another region but does not have a following within the area being sold. This makes for a disparate and dysfunctional listing process. The agent you select needs to have a good reputation and a good following within the particular area.
Responsiveness: Markets change, and as markets change there may have to be adjustments made to the listing of the property. This may include a change in price, a different staging approach, and even a different advertising campaign initiative. Some platforms, especially within the social media markets, are more conducive to attracting and bringing in potential buyers and sellers.
All of these factors are critical when delivering a unique customer experience that not only can promise but deliver upon the expectations of the home buyer and home seller.