This idea is present in the thread, but let's state it bluntly:
- Because agents (and their families) "eat in the short term" there is a tendency to focus on new leads and new sales opportunities.
- That's not a bad thing. In fact, there's nothing else to do at the beginning of a career. But two bad things can happen:
1. If the early focus on new sales is not balanced with awareness that each successful sale is now a client to be nurtured, then an immediate opportunity for up-sell, cross-sell and referrals is lost.
2. If the focus on new sales becomes a long career habit, the career becomes a life of constant lead-chasing, risking burnout and missing the three available money trees: up-sell, cross-sell and referral gathering.
So, from the start, client nurture should be fundamental, beginning with an effective welcome/onboard routine and including ongoing relationship building and diligent client service.
Originally Posted by Alston
Just based on my own experience, I think the biggest mistake agents and agencies make is to give too little thought to their post-sale marketing strategy.
Spending years losing two clients for every three I brought on wasn't the fastest way to get to financial stability.
Having a system in place to stay in touch with existing clients will keep your renewals flowing in and win you more easy sales from your clients and the people they refer to you.
First, I must state my belief that Alston is an insightful genius, and second must state that I didn't see his post (#12) before writing #13. Otherwise I should be imprisoned for idea theft.