- Finding new customers;
- Getting your existing customers to spend more per transaction; and
- Encouraging them to spend more often.
Typically, businesses focus all their time and energy on finding new customers, where it is far easier to generate income from existing customers. With an anticipated lull in new rentals courtesy of yet another pandemic lockdown, it’s worth considering other ways to increase the income-generating opportunities in your agency.
Here, we offer advice on three quick ways to tap into the potential of your tenant audience to grow your business while offering them invaluable help.
1. Save on utilities
Another lockdown means a lot of people are stuck at home. The lights are on, home office is whirring, and heating is working overtime. All of this adds up to higher utilities bills. Some people have been furloughed, some have even lost their jobs. These higher energy bills could be adding undue pressure on an already difficult situation. Even so, there are ways to help them save money. There are utilities management packages to aid tenants in finding the best value while earning you commission. With such deals, tenants can usually save an average of £267 per household.
Based on movers offered The Utilities Hub services January 2019 – March 2020
2. The internet connection
The pandemic has seen our usage of digital content increase significantly. From home-schooling and home-working to online classes and zoom meetings – not to mention streaming of TV and movies, we’re fully reliant on the internet for almost every home-based activity. The two must-haves are an uninterrupted connection and speed. By working with utilities management providers, you can help your tenants to find the best deals; saving them money and earning you commission. Furthermore, these providers may also create handy promotional materials for which means it’s even simpler to do.
Is the software your agency uses integrated and user friendly? Do you spend a lot of time inputting the same data multiple times? Why not do a quick audit and see just how much time you’re spending on admin in any given week?
3. Protect your belongings
A house becomes a home when it’s filled with your favourite people and favourite things. An increasing number of tenants are recognising the importance of covering their most valuable belongings. Another way for you to earn more while helping out is to inform tenants about policies such as contents insurance. Making it quick and easy to buy helps take the stress and strain out of hunting for cover themselves – a task no one enjoys. This can help you generate an ongoing income stream as commission is usually received on every sale and renewal.
Need a little help?
The secret to surviving and thriving in these difficult times is to look for the small ways you can make a difference and a little income all at the same time.
Why not join the Revival and identify other simple ways you can help your lettings agency to really thrive in 2021. You will find how you could make small changes in key areas in your business and really reap the rewards. Our Thrive 2021 action plan walks you through a step-by-step process of how you can reduce costs, save time and increase revenue by thinking smart and boxing clever.
And did you know that by using BOX, The Lettings Hub’s free-to-use pre-tenancy management platform, offering additional tenant products like utilities, media and insurance is a seamless process. Simply tick a box and leave us to do the rest.
Click here to find out more about Box and how we can provide you with all the tools and materials you may need to promote this offer to your clients. Don’t hesitate to give us a call at 0345 241 0768 or drop us an e-mail at firstname.lastname@example.org.
Find out how we can get you moving smart and boxing clever
With our free pre-tenancy management technology