Where has loyalty gone in our society? I am finding that younger generations of clients are significantly less loyal even after getting the same service as my elder clients- I asked myself WHY?
Generation Y and the Millennial have grown up with the internet at their finger tips. I am one of them and since Ive had a mobile phone with internet connection, Ive not let an unanswered question leave my mind without a search. I can accomplish anything with my smart phone and opposable thumbs!
The baby boomers are internet savvy but they have grown up with a physical rolodex of professionals. They grew up with a physical white or yellow pages!?
My hypothesis is past clients and personal referrals create loyalty. “Access to information” hinders loyalty or the perception of need for professional service- the DIY society.
I am a Realtor® and I work with a hundred plus clients a year. I end up Closing transactions with approximately 50 clients per year. The difference between the numbers is because I consult with more people than sell or buy. I help people get their renovations correct, make sure that people don’t over-improve without knowing, I introduce contractors with clients because I’ve been blessed to work with amazing professionals during my life of working. I am a professional. I belong in your rolodex.
I have had a few clients recently in the Generation Y category work with me, gain knowledge, spend my time and simply go trailblazing on their own- without any trigger. In my industry, they are mostly switching and working with the Listing agent. The reasons are to “Streamline” or “simplify” because they don’t want a communicator, advocate in their camp… it’s frustrating to say the least!
Contrary, I have several clients over the age of 50 who send me a steady stream of clients because they have either first hand, or second hand heard that my level of service is a must. Compliments like “You cant do this without John”!
I just shared some of my frustrations on this topic with a dear friend who is also in the service business- financial planning/ investments. His opinion is that you need to be clear with your value added and leverage your “raving fans” to continue to gain client base. If you have the choice of 10,000 agents, a friend’s recommendation will set you apart. I am on the phone with past clients now, asking for referral business, because they are experienced!
How do you gain loyalty in your industry? Do you see the difference between generations and what I reference as “loyalty”. You can leave a comment, or post a comment on Twitter @RealtorPayne call me 513-500-7474 or email me john@payne-team.com
