Irrespective of your profession, client loyalty should be your greatest focus. Why? Because business longevity is supported and/or made possible by client loyalty.
Adding additional products and services to your business have the potential of both maintaining client loyalty and gaining new clients. The following two scenarios outline the financial advantages of adding products or services to your existing offering.
| Total Revenue | Number of Clients | Product & Services offered (Average fees charged) |
Frequency of Visits per year | |||
| $100,000 | = | 100 | X | $1,000 | X | 1 |
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There are ONLY 3 WAYS to increase your revenue:
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An obvious way to increase your revenue is to do more of what you currently do and to charge more; example 10% more…
| Total Revenue | Number of Clients | Product & Services offered (Average fees charged) |
Frequency of Visits per year | |||
| $121,000 | = | 110 | X | $1,100 | X | 1 |
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By increasing the number of Clients and Fees by 10% each, you can achieve a 21% improvement on your revenue. Subject to your client database and market competitiveness, this may be possible to achieve in your current scenario right now. Challenges with this scenario:
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You can also increase your revenue by adding a new product or service, such as Investment Properties to compliment your current range of services.
| Total Revenue | Number of Clients | Product & Services offered (Average fees charged) |
Frequency of Visits per year | |||
| Existing $100,000 | = | 100 | X | $1,000 | X | 1 |
| New $15,750 | = | 5 | X | $3,150 | X | 1 |
| Total $115,750 | ||||||
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A scenario with 5% clients taking the service will achieve a 16% improvement on your revenue. Assumptions: Referral Fee payable is $3,150 based on Service 5 of the ‘Fee for Service Table’ applying the average industry commission. This amount will vary and is dependent on the gross commission payable by the vendor. Additional Fees: The additional services you perform, as per the ‘Fee for Service Table’ will equate to additional fees being earned. Example; Service 4 ‘Working with directly with Investors’ will attract an additional $4,410. |
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The above scenarios were based on a referral only. You may however, opt to refer your clients or work with them directly and gain higher fees.
Landlord Central’s System management tools tag your referrals against your login and equip you to monitor the status of clients referred. These features give you the ability and peace of mind to be apart of the process. Thus ensuring your clients’ achieve their investment objectives and equally important remain your clients.
Contact us, to subscribe and receive your secure login access to the system and a comprehensive Training Manual on How To Start Referring or Working Directly With Your Clients.
Investor RepresentativesThis presentation is suitable for:
Mortgage Broker, Accountant, Financial Planner, Solicitor, Real Estate Agent, Buyer Agent or Immigration Agent