The Itch
The Itch
It didn’t happen to me of course but they say that after you have been married for 7 years you get the “Seven year itch”. You, apparently get bored with what you have and start looking round for something else. You get an itch that has to be scratched.
What has this got to do with selling I hear you ask. Well... actually quite a lot.
There is an itch cycle for most products and services. There is a period between the purchase of a product and the time when the customers wants to replace that product, or upgrade. This is called the itch period.
The itch period is different in every industry
In domestic property the itch period is between six and a half and seven years. On average, approximately seven years after you purchase your property you feel the need to buy again. The family has grown up perhaps and you would like a smaller home. Or you have had three children and your home is not big enough. Whatever the reason the average period between sales of domestic property is about seven years. If you are in property and you know this then the logical approach is to use that information.
You should keep accurate records of the property you sell and in that record make a judgement as to when the owners are likely to want to buy again. That is the “Itch period”. For younger couples starting out the itch period is shorter than for older people with a family. Six months before the itch period takes effect you should make contact with the owner of the property. Perhaps you could send them a letter to remind them of who you are and if they need any further assistance with the property market please do not hesitate to give you a call.
A couple of months after that you could give them a call perhaps, just to see if they are still happy in their home and if they are considering moving on. Don’t be too pushy of course, make the calls friendly. For instance you may say "Hello Mr Smith, My name is Richard Mulvey and I was the estate agent that sold you your property 7 years ago. I remember you and your wife well, and I remember you bought such a lovely property. I have a young couple in front of me who are looking to buy a property in your area, I wonder, have you considered selling at all?"
The idea here is just to let them know that you are still in the area so that the next time they are ready to sell you are the only person they consider to handle the sale.
The itch period for new cars is about twenty-four months, and computers it is about eighteen months. I am not saying everybody buys a new computer every year and a half but after that period of time they will certainly be thinking about it. Even though their computer was the best available eighteen months ago it is now too slow, too small, and doesn’t have the right components so they would like to buy again or at least up grade. (Moore's Law?)
Selling in the computer industry is too easy. I am in danger of losing a few readers at this stage, particularly if they sell computers. But there you go. The reason why I come to the conclusion that selling in the computer industry is too easy is that the local retailers seem to ignore this itch period.
I am often found in any one of the local computer outlets in the area looking at, and more often than not buying, software, hardware, new cards, new gadgets and even new computers. You might say it is a passion of mine, perhaps even an obsession. But I like to think it a healthy desire to keep up with technology. Whatever the reason I buy a lot of computers and peripherals.
Every time I buy something the store will take down my name and contact details, but I am horrified to note that I have never been contacted by any of the computer retailers in the area to remind me that they still exist, introduce me to new products or tell me about special offers or impending sales. Nothing!
Selling computers must be too easy. Why do they take down my contact details if they have no intention of using them? If they used that information they would realise that I would be worth keeping in touch with. There is a danger now that I will be inundated with computer stuff, but that’s okay, better that than nothing at all.
What is the itch period in your business? Three years? Six months? If you don’t know you should make every effort to find out and just before your customers get the itch, make contact with them, remind them who you are and how good your service was last time they did business with you. The itch period may not just be for the replacement of the product that you sold them. It may be the period of time between servicing, when they might need an upgrade or even for something as simple as stationary or other consumable.
When your customers are “itching” it is your job to help them scratch.
The Itch - To learn more about this author, visit Richard Mulvey's Website.
Like this article? Share it with your friends
What happens after 7 years of marriage?
It didn’t happen to me of course but they say that after you have been married for 7 years you get the “Seven year itch”. You, apparently get bored with what you have and start looking round for something else. You get an itch that has to be scratched.
What has this got to do with selling I hear you ask. Well... actually quite a lot.
There is an itch cycle for most products and services. There is a period between the purchase of a product and the time when the customers wants to replace that product, or upgrade. This is called the itch period.
The itch period is different in every industry
In domestic property the itch period is between six and a half and seven years. On average, approximately seven years after you purchase your property you feel the need to buy again. The family has grown up perhaps and you would like a smaller home. Or you have had three children and your home is not big enough. Whatever the reason the average period between sales of domestic property is about seven years. If you are in property and you know this then the logical approach is to use that information.
You should keep accurate records of the property you sell and in that record make a judgement as to when the owners are likely to want to buy again. That is the “Itch period”. For younger couples starting out the itch period is shorter than for older people with a family. Six months before the itch period takes effect you should make contact with the owner of the property. Perhaps you could send them a letter to remind them of who you are and if they need any further assistance with the property market please do not hesitate to give you a call.
A couple of months after that you could give them a call perhaps, just to see if they are still happy in their home and if they are considering moving on. Don’t be too pushy of course, make the calls friendly. For instance you may say "Hello Mr Smith, My name is Richard Mulvey and I was the estate agent that sold you your property 7 years ago. I remember you and your wife well, and I remember you bought such a lovely property. I have a young couple in front of me who are looking to buy a property in your area, I wonder, have you considered selling at all?"
The idea here is just to let them know that you are still in the area so that the next time they are ready to sell you are the only person they consider to handle the sale.
The itch period for new cars is about twenty-four months, and computers it is about eighteen months. I am not saying everybody buys a new computer every year and a half but after that period of time they will certainly be thinking about it. Even though their computer was the best available eighteen months ago it is now too slow, too small, and doesn’t have the right components so they would like to buy again or at least up grade. (Moore's Law?)
Selling in the computer industry is too easy. I am in danger of losing a few readers at this stage, particularly if they sell computers. But there you go. The reason why I come to the conclusion that selling in the computer industry is too easy is that the local retailers seem to ignore this itch period.
I am often found in any one of the local computer outlets in the area looking at, and more often than not buying, software, hardware, new cards, new gadgets and even new computers. You might say it is a passion of mine, perhaps even an obsession. But I like to think it a healthy desire to keep up with technology. Whatever the reason I buy a lot of computers and peripherals.
Every time I buy something the store will take down my name and contact details, but I am horrified to note that I have never been contacted by any of the computer retailers in the area to remind me that they still exist, introduce me to new products or tell me about special offers or impending sales. Nothing!
Selling computers must be too easy. Why do they take down my contact details if they have no intention of using them? If they used that information they would realise that I would be worth keeping in touch with. There is a danger now that I will be inundated with computer stuff, but that’s okay, better that than nothing at all.
What is the itch period in your business? Three years? Six months? If you don’t know you should make every effort to find out and just before your customers get the itch, make contact with them, remind them who you are and how good your service was last time they did business with you. The itch period may not just be for the replacement of the product that you sold them. It may be the period of time between servicing, when they might need an upgrade or even for something as simple as stationary or other consumable.
When your customers are “itching” it is your job to help them scratch.
The Itch - To learn more about this author, visit Richard Mulvey's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
|
To learn more about the Evan Elite Author Program please contact us. |
 | |
|  |
Subscribe to Richard's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Your Annualized Bus Dev Plan Making It Happen New Sales Leadership Paradigm Optimus Performance Pro-Forma Template |
|
 | ||
 |
Top 50 Marketing Blogs
Top Marketing Blogs of 2010 | |
 |
Top 50 SEO Posts - 2007
Top SEO Posts of the Year | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
