Which is Better? Trying to get New, or Cultivating Old?

I've been thinking long and hard about my marketing plan, and how things rank regarding their Return on Investment (ROI). After thinking about this for some time, I decided to post this blog to all my friends at AR.

I've been studying and following successful REALTORS for many years, and most of the highly productive ones have a Real Estate Coach of some sort to hold them accountable to their systems, and make sure they are consistently working "IN" their business, and also working "ON" their business at some point as well.

Looking into the coaches, I've been considering Brian Buffini, Joe Stumpf, and some others regarding their By Referral Only programs. Also, I've looked into those coaches that teach lead generation, and marketing strategies to go after new business.

I've been licensed for almost nine years, and have tracked every aspect of my business. I noticed that the amount of clients that I email/stay in touch with consistently are not generating the referral business that I think it should. I should have a steady stream of referrals. On another note, I spend a considerable amount per month on advertising through radio, websites, and internet pay per click services.

What has worked best for you in today's market? Working your past clients or concentrating on new business. A mixture of both would seem to be fine, but how do you decide how much for each source is adequate? I'm thinking of cutting back on some of the monthly advertising, and put that into a coach that helps you nuture your past clients.

Looking at the # clients that have done business with me, would that be enough to provide for over 100 closings a year just in referrals?

Any suggestions you can give is greatly appreciated!