Another Fact-Filled, Lead Generating,
Time Saving, Money Producing Marketing
Tip From HighProfitMarketing.com

"How To Generate Automatic Referrals And Renewals By Providing Outstanding Customer Service!"

Do You Make These Fatal Mistakes When Servicing Your Clients?

 

This just may be one of the most important subjects I will ever write about.

Why, you ask?

Quite simply - if you don't take excellent care of your clients, they will find someone else (your competition) who will.

Before I go into a detailed discussion on how to provide outstanding customer service, let's explore some of the "fatal" mistakes that the majority of mortgage businesses make when dealing with their customers…

Recently, I ordered sushi for delivery from one of my favorite sushi restaurants in Manhattan.

My order arrived, and my soon bride-to-be and I began feasting on our favorite delicacy - raw fish.

Much to my dismay, about halfway through our meal, I discovered a small dead bug nestled on the outside of one of my sushi rolls that I was about to eat.

When I discovered the bug, I became instantly nauseous, and I decided to call the restaurant to let them know what had happened.

Here's how the conversation went:

Me:

"Hello, can I speak to the restaurant manager?"
Woman on the other
side of the phone:

"Can I ask what this is in reference to?"
Me:

"Yes, if you really must know, I found a bug in my sushi!"
Woman:

"Ok, sir, please hold on."
Manager:

"Hello, how can I help you?"
Me:

"I ordered sushi from you, and I just found a bug in my sushi roll."
Manager:

"Really? Which sushi roll was it in?"
Me:

"The California Roll?"
Manager:

"What does the bug look like?"
Me:

"It's black and disgusting."
Manager:

"I'd like to send someone by to pick it up. Then, I'd be happy to give you a new California roll, or credit you for the one with the bug in it."
Me:

"Are you out of your mind? I order in from your restaurant twice a week. I'm telling you my wife and I feel physically ill because you put a dead bug in our sushi, and you are interrogating me like a criminal. What kind of establishment do you run anyway?"
Manager:

"I'm sorry sir, but that's our policy."


Believe it or not, they actually DID send someone to pick up my sushi with the bug in it, and after giving the manager an earful about customer service, she finally gave us a full credit for the meal. But, only after she had interrogated us, made us feel like liars, and left us with a horrible impression about her restaurant.

By the way, this is a true story. The sad truth is, this type of behavior towards customers seems to be the norm rather than the exception.

Think about this for a moment:

1.     When was the last time you made reservations at a popular restaurant only to wait 30 minutes to an hour after the time of your reservation to be seated?

2.     When was the last time you went into a clothing store, and asked one of the store clerks for help only to receive a blank stare of ignorance, or rude and inappropriate behavior?

3.     When was the last time you left a voicemail message for a person or company which wasn't returned for several days or even worse, not returned at all?

Why did you think corporate earnings have slowed for many businesses?

Because they fail to place a high enough value on client retention.

Most companies focus all of their time, energy, and money on one thing…

Getting New Customers In The Door!

But once they get a new client, they spend almost no time, energy or money on keeping that client happy.

This Is A Huge Mistake!

Did you know it's five times more expensive to market to a prospect (someone who doesn't know you) than a client (someone who knows and trusts you).

Where do you think long-term profits and earnings come from - constantly having to find new customers OR maintaining your existing client base and growing it through referrals and renewals?

I think the answer is pretty obvious yet most businesses I've observed do the exact opposite.

They spend the majority of their time trying to convince strangers to do business with them, and they completely ignore their most valuable asset…

Their Existing Clients!

Dan Sullivan, a top success coach, and founder of The Strategic Coach®, created a set of four habits salespeople and entrepreneurs need to practice in order to maintain their existing clients, and generate automatic, unsolicited referrals.

Here Are Dan Sullivan's Four Referrability Habits:

1. Show Up On Time

How often do service providers show up late, return calls late, or keep their clients waiting?

This creates a feeling of anger and resentment and make your clients feel like you don't respect or value their time.

Don't make this mistake - return calls when promised, and show up to all appointments and seminars on time.

2. Do What You Say

How many salespeople and service providers promise you the world before they have your money, then fall far short of providing the service they originally promised after they have your money?

This may get a company the sale once, but no one will ever repeat purchase from them since they didn't do what they originally promised.

3. Finish What You Start

Builders and contractors are notorious for not finishing what they start. All of us have experienced entering into an agreement with a service provider who does half the work, and then stops for one reason or another and never completes the job.

Make sure you finish what you start with all of your clients - that means sticking with them all the way through negotiating for a better rate and payment, and making sure they get what they deserved.

Don't make the mistake of only focusing on signing up new clients without also completing the service for your existing clients.

Remember, you want your existing clients to refinance with you next time.

4. Say Please And Thank You

When was the last time a service provider said "please" and "thank you" and genuinely meant it?

You must show appreciation for your clients - they are the lifeblood of your business. Make sure you treat them like gold!

 

Sullivan's Four Referrability Habits sound deceptively simple, don't they?

The problem is not 10 in 100 mortgage businesses actually practice these four simple skills consistently.

I've added some additional habits that I feel are necessary for you to automatically generate referrals and renewals:

5. Under-Promise And Over-Deliver

Most mortgage brokers do the exact opposite of this - they promise you the world, and automatically set you up for disappointment.

Always promise your clients less than what you think you can accomplish. This way, when your results are better than expected, they think you walk on water, and end up referring and refinancing with you.

If, on the other hand, you promise you will get your clients a fully paid private university education, you are bound to disappoint them which means they won't be referring or renewing with you and they will tell, at least, 5 - 10 of their friends not to use your services.

Don't make this mistake - instead under-promise and over-deliver.

6. Bond With Your Clients

Most businesses don't have any idea how to "bond" with their clients. They feel business relationships should be treated differently than personal relationships.

They're Dead Wrong!

People are people, and they enjoy the emotions of love, respect, friendship, closeness, honesty, integrity, recognition, etc., regardless of whether the relationship is business or personal.

Don't try to fight this. Instead, look at all of your clients as friends, and treat them that way.

Send them written correspondence once a month to keep in touch with them (I love using a monthly newsletter for this!), send them unexpected gifts (like books, audiotapes, brownies) to let them know how much you appreciate them, admit when you're wrong instead of arguing and send apology letters or gifts, recognize them in your newsletter and let them know they're special, and make personal calls to your best clients to see how they're doing.

If you consistently practice the six habits over the next 90 days, you will start to see a drastic change in your business.

Business will start to flow to you almost automatically without you having to push so hard for it.

You will also begin to enjoy your business and your clients more, and it will start to feel more like fun instead of work.

Also, make sure you constantly listen to your clients - what they like, what they don't like, why they bought from you, why they refinanced with you, what other products and services you can provide for them, etc.

Your clients have all the answers if you listen to them.

If you would like more information on how to get qualified leads, sales and referrals for your business, CLICK HERE to get a copy of our FREE Report "How Any Mortgage Brokers Can Add An Extra $5,000 - $25,000 Per Month To Their Existing Business With No Cold-Call Prospecting."

You are welcome to copy this page and post it on your web site or use it in your newsletters. The only requirements are:

  1. You must copy the entire article and make no changes whatsoever.
  2. You must include the signature file below at the bottom of my article.

For more FREE articles, tips, newsletters and expert opinions on how to get more qualified leads, sales, and referrals for your business, you can visit the MMS website at http://www.HighProfitMarketing.com/kit.htm

Or, you can sign up for our FREE Mortgage Marketing Tips Newsletter which contains dozens of proprietary marketing secrets and strategies on how to skyrocket your sales and profits. Subscribe at: http://www.MortgageMarketingTips.com
 

Shawn Meldrum,

HighProfitMarketing.com
Tel: (801) 544-1750

Fax: (801) 217-0617

 

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