CUSTOMERS FOR LIFE
Successful loan officers
all have one thing in common, they believe in the
philosophy "Observe what the masses do and do the
opposite". They recognize the importance of setting
themselves apart from their competition. This section will
provide you a sales tip a month for each of the next 12
months. The major objective of this section is to provide
you with easy to implement sales tips that will assure
your continued success.
MAY 2000 SALES TIP:
"CUSTOMERS FOR LIFE"
Adopt a 'Customers for
Life' marketing approach to your sales and marketing
efforts. Your past clients are a gold mine of referrals,
only if you continue an ongoing marketing effort. The
mortgage industry has traditionally been a "transaction
based" business. In the past, volume and production
numbers have been the qualitative measurement upon which
success was based. In the quest for more volume, searching
out "the next deal" became the high priority activity. The
investment made in past clients was generally forgotten.
In today¹s hi-tech and hi-touch market, your past clients
cannot be forgotten.
Your sales tip of the
month is therefore to adopt a "Customers For Life "
approach to every loan you have closed and every loan you
make in the future.
The following checklist
will help you establish an easy to implement action plan.
If you have already completed each step, you are to be
commended. If not, make a commitment to complete this
action plan within the first 30 days of the year. When
followed regularly, a "Customers For Life" sales and
marketing approach will assure your continued success.
#1 Build your data base.
Have you entered all of your past clients, (names
addresses and emails into a data base? If not, dedicate
the time to do so or pay someone to do it for you. It is a
short term commitment for a long term gain.
#2 Set a goal to contact
X% of your past client base in the next month. If your
data base spans the last ten years or more, you may wish
to establish an incremental goal starting with the last
eight years. Whatever you decide, it is critical you
contact your past borrowers on a regular basis.
#3 Create an initial
contact letter to past clients:
Dear_________________________,
It has been over
_____years since we worked together to obtain the
financing for your home at ________________ Ridge Drive.
As we begin a new millennium, I¹m reminded that my success
has been because of clients like you who were pleased with
my efforts and passed my name along to friends and
neighbors. I would like to extend a sincere thank you for
your continued cooperation and support. Should you have
the need to once again refinance your home, or purchase a
new home, I hope we can build upon the working
relationship we have already established. Thank you in
advance for passing my name along to those who could
benefit from the professional service you know I provide.
Best wishes for a successful and healthy 2000.
Respectfully,
Larry Loan Officer
Establish a long range
plan for staying in touch with past borrowers. For
example:
Contact #1 One week
after the loan closes with a note of thanks.
Contact #2 One month
after the loan closes send a letter with a small token of
your appreciation for their business, a magazine
subscription of their choice, etc.
Contact #3 Six months
after the loan closes, with an informative message and tid
bit of useful information from which the borrower could
benefit.
Contact #4 One year
anniversary of the loan closing.
Contacting the borrower
a minimum of four times during the first year and a
minimum of three times a year thereafter is a constant
contact plan that works. It will assure you a continued
referral base of business. If you do not follow such a
plan, you will suffer from the "Out of Sight, Out of Mind"
syndrome.
Adopting a "Customer for
Life" marketing plan is a sign of a professional approach
to your responsibilities. As long as human emotions
continue to play a role in the mortgage process, regular
and sincere contact will have a place. After all, you are
really in the "People Business".
Next Month Sales Tip of
the Month: "Time and Territory Management Hints"
