I have tried to describe, as best I can, the customer lifecycle for a Property Management company. Please keep in mind that I am in no way an expert, nor do I assist in aquiring or keeping new business. THIS IS AN EXAMPLE ONLY.
Reach – A leaflet has gone out, encouraging residents to recommend the company to any friends they know that ay be looking for a new management company. This may generate a potential new business customer who will approach the property management company, enquiring about the management services the company has to offer. This will usually be a Director of an exisiting RMC or RTM.
Acquire – Corporate literature will be sent, and a representative may go out to site, and pitch the managing agent to residents.
Convert – Residents vote for their preferred agent, whiilst the Directors are still in contact with companies. Should your company, lets say, be chosen, the handover process from previous agent begins. The involves handing over of personal details, accounts, legal documents and any building or landscaping plans. This could also include potential staff and contractors.
Retain – Retain the customers through upholding your side of the management agreement. The lease requires managing agents to provide certain services, and these must be met. Should they not be, residents may decide to choose another agent.
Advocacy/Loyalty – Residents may recommend your services to neighbouring properties, they may move and consider you for their new home on a development. There are incentives to be offfered here, including recommend a friend for a year’s free service charge.
All Aboard The ApprenticeSHIP 