Create a customer for life by following these five steps from top broker Joshua Vecchio.
Director of Discovery Finance Group, Joshua Vecchio has written over $250m using techniques and tips being shared on his recently launched website Top Broker.
A customer is likely to have 7 home loan transactions over their life time, be it downsizing, upgrading, investing, or starting a family. They will ultimately need a trusted advisor to guide them in the right direction, ensuring that they get through these exciting times with the end in mind – so why not be a part of the 7 transactions?
Many people wonder why or how to create a customer for life, a raving advocate some might say. The truth is it’s very simple. There are five keys steps that if followed religiously, you too will have a customer for life.
Prompt Service
It goes without saying executing things quickly and proficiently builds creditability and gives customers peace of mind that they are in safe hands. Delivering on the basics – as easy as it sounds – can be a game changer and take you to the next level. Basic things such as returning customers missed calls within 2 hours, sundowner rules for emails (meaning that all emails received prior to 5pm the same business day will be replied to) and taking ownership of customer queries – that may not be revenue generating – make ALL THE DIFFERENCE to their overall experience and turn them from a transactional customer, to one for life.
Gets It Right First Time
An old carpenter’s adage comes true here: measure twice and cut once. By taking time to find out what exactly your customer is after and ensuring their needs are met, not only will you save time in the long term but you’ll be sure things are set up correctly. In the end this not only increases productivity but it also reduces back end work. This will leave you with more time to focus on priority activities.
Follows Up
Follow up like you would a newborn baby, nurturing and always checking up to make sure everything is okay. Keeping in touch with customers prior to them actively looking for a home loan with a regular touch base should be in order. Email, phone or text as a friendly reminder that you’re there should an issue come up – I keep in touch at least every second business day with an update, even if it is letting them know there aren’t any updates helps.
Once you’ve submitted an application it goes without saying all the major milestones should be conveyed to the customer – for example the application has been completed, valuation has been returned, application approval, loan contracts posted, etc. etc.
I was once told by a great broker, whenever he hired a support officer they were told on their very first day they had 3 strikes. If a customer was to call asking for an update or progress on their application they’ve obviously done a disservice by the customer – meaning STRIKE ONE. The lesson obviously for the support officer was that they needed to be proactive to keep their job!
Overall Experience
Under promise and over deliver, I can’t stress this strong enough. You must under promise and over deliver in every single thing you do with your customers. It’s extremely important in the overall experience, particularly nowadays where things are instantaneous and people want everything done yesterday.
It’s also important to manage your customer’s expectations, I’ve often said to anxious clients ‘if you see me panic, then you panic. If I’m not panicking, then you can’t either’. Remaining calm in all situations will keep you in control and things moving in the right direction.
Milestones or Touch Points
Celebrating milestones with customers adds that extra personal feel, particularly when these milestones wouldn’t generally be expected – Not that there is anything wrong with sending birthday cards, or Christmas chocolates!! Remembering things such as a customer’s hobby or interest and touching base with them gives that personal feel.
In the case of my customers, I do the work up front, getting to know them and understanding their passions and hobbies, and tailoring their gifts around this – as a recent example one of my clients is a bit of a gym junkie, so at settlement I bought him 1kg of protein powder – a seemingly strange gift to some, but to him the best gift he has ever received. From that small gesture he has now referred me a further $3M in business, so it pays to give!!!
This article originally appeared on Top Broker, a growing online space where tips and strategies are shared by Australia's top mortgage brokers.
A customer is likely to have 7 home loan transactions over their life time, be it downsizing, upgrading, investing, or starting a family. They will ultimately need a trusted advisor to guide them in the right direction, ensuring that they get through these exciting times with the end in mind – so why not be a part of the 7 transactions?
Many people wonder why or how to create a customer for life, a raving advocate some might say. The truth is it’s very simple. There are five keys steps that if followed religiously, you too will have a customer for life.
Prompt Service
It goes without saying executing things quickly and proficiently builds creditability and gives customers peace of mind that they are in safe hands. Delivering on the basics – as easy as it sounds – can be a game changer and take you to the next level. Basic things such as returning customers missed calls within 2 hours, sundowner rules for emails (meaning that all emails received prior to 5pm the same business day will be replied to) and taking ownership of customer queries – that may not be revenue generating – make ALL THE DIFFERENCE to their overall experience and turn them from a transactional customer, to one for life.
Gets It Right First Time
An old carpenter’s adage comes true here: measure twice and cut once. By taking time to find out what exactly your customer is after and ensuring their needs are met, not only will you save time in the long term but you’ll be sure things are set up correctly. In the end this not only increases productivity but it also reduces back end work. This will leave you with more time to focus on priority activities.
Follows Up
Follow up like you would a newborn baby, nurturing and always checking up to make sure everything is okay. Keeping in touch with customers prior to them actively looking for a home loan with a regular touch base should be in order. Email, phone or text as a friendly reminder that you’re there should an issue come up – I keep in touch at least every second business day with an update, even if it is letting them know there aren’t any updates helps.
Once you’ve submitted an application it goes without saying all the major milestones should be conveyed to the customer – for example the application has been completed, valuation has been returned, application approval, loan contracts posted, etc. etc.
I was once told by a great broker, whenever he hired a support officer they were told on their very first day they had 3 strikes. If a customer was to call asking for an update or progress on their application they’ve obviously done a disservice by the customer – meaning STRIKE ONE. The lesson obviously for the support officer was that they needed to be proactive to keep their job!
Overall Experience
Under promise and over deliver, I can’t stress this strong enough. You must under promise and over deliver in every single thing you do with your customers. It’s extremely important in the overall experience, particularly nowadays where things are instantaneous and people want everything done yesterday.
It’s also important to manage your customer’s expectations, I’ve often said to anxious clients ‘if you see me panic, then you panic. If I’m not panicking, then you can’t either’. Remaining calm in all situations will keep you in control and things moving in the right direction.
Milestones or Touch Points
Celebrating milestones with customers adds that extra personal feel, particularly when these milestones wouldn’t generally be expected – Not that there is anything wrong with sending birthday cards, or Christmas chocolates!! Remembering things such as a customer’s hobby or interest and touching base with them gives that personal feel.
In the case of my customers, I do the work up front, getting to know them and understanding their passions and hobbies, and tailoring their gifts around this – as a recent example one of my clients is a bit of a gym junkie, so at settlement I bought him 1kg of protein powder – a seemingly strange gift to some, but to him the best gift he has ever received. From that small gesture he has now referred me a further $3M in business, so it pays to give!!!
This article originally appeared on Top Broker, a growing online space where tips and strategies are shared by Australia's top mortgage brokers.
