Here’s The Strategy…
You need to stay in front of your customers and remind them you are still around. You want to do it consistently, automatically and professionally.
The best strategy is to make at least 8 contacts per year, with a little more emphasis on the early spring season (when the market picks up). The more contacts you make, the higher your return and referral rates will be.
Four contacts is the absolute minimum, but you really should be making 12 contacts by mail per year with every client. Contact your customers once per month and they absolutely will remember you.
You want to use a combination of friendly, seasonal cards and industry specific newsletters. It is critically important that your customers see you as both a nice, friendly person AND as a knowledgeable professional. If you leave either part out they may not refer you.
And you want to start as soon as possible – 60% of your referrals will come in the first 6 months after you close on a loan.
Newsletters make you look smart, successful, professional and up to date in the marketplace. People are much more likely to refer you when they know you are a real professional who understands the mortgage business. They want to make sure you will take care of the people they send to you.
Plus, newsletters keep your clients coming back. It’s human nature to contact the best expert you know when making an important decision. Newsletters make YOU the expert. Your customers will trust you and continue to rely on you for all of their mortgage needs.
And newsletters SELL. They keep your clients up to date on products and services they may be interested in. It is the best way to inform your customers about their financing options.
But remember that people also want to do business with (and send their friends to) nice people. (Yes – nice people). This is also human nature – if they like you they will continue to do business with you.
This is where the seasonal postcards come in. Very few companies actually bother to send out cards. You will stand out and people will actually like you more. Sending cards is a classy thing to do. It makes a personal connection and it really works.
Don’t forget that people feel the need to reciprocate good deeds done by you. They want to say “Thank You.” Your customers know you are paying attention and spending money to stay in contact with them, and they will reciprocate.
Here’s The Ringer…
Call them. Send the postcards, send the newsletters, and then pick up the phone twice a year and call all of your past customers. Ask about their families. Talk about the weather. Talk about anything at all (just not the mortgage business - unless they bring it up).
Remember that you are mailing to them 4 - 12 times a year. That’s the best excuse to follow up with a call. “Hi – did you see the latest newsletter?”
Let’s say that again: A newsletter or card IS THE BEST EXCUSE EVER to give them a call. Do it and you will win clients for life.
(And then you will know the real lifetime value of each client!) |
