Successful loan originators have found that emphasizing the customer-for-life attitude has increased their business dramatically. A positive first impression begins at the point of the sale. From the very beginning of the loan process try to “wow” the customer. Some tips that will help you develop this customer-for-life strategy includes:


Database Management

A comprehensive database is crucial to any customer-for-life program. It's the only way to organize customers by various criteria so that you can communicate with them on a regular basis. Easily keep track of loan details, birthdays, anniversaries and other pertinent information. The most important aspect of the database is that it is customized and automated for you.

Post-Closing Communications
Of course, after the loan closes, it is important that the customer remembers you. The real focus of customer-for-life programs occur after the loan has closed—gifts, mailings, phone calls, and special events.

Gifts
Closing gifts can be simple, such as cookies or flowers, or more elaborate, such as gift certificates to home improvement stores. A little goes a long way.

Postcards
Postcards are one of the best ways to keep in touch with former clients. In order to work effectively, they need to be sent regularly. It doesn't necessarily matter what the postcard says, if its funny or serious, it just matters that every month, you get your name in front of your customer.

Other Mailings
Many originators include newsletters, holiday greeting cards, and birthday cards as a staple part of their marketing program. Customers appreciate these informative and useful mailings. They will know that you've made a bigger commitment than if you had just sent a flier. This is one of those items that can make you stand out from the competition.

Phone Calls
While gifts and postcards are effective in communicating with clients, originators shouldn't forget the importance of a personal phone call or message to customers after the loan has closed. Once or twice a year, a personal phone call to select clients to follow-up with them, asking if they have been receiving the mailings and whether there have been any changes in their personal or professional lives. Use notes in your database from previous conversations to make the phone call more personal. People will be surprised and pleased that you called. It definitely strengthens the relationships.

Events
Events can consist of appreciation and holiday parties. Host a customer appreciation night for all of his past clients and referral sources.

Tracking
Of course, it's also critical for originators to be able to monitor their success of their programs. They need to know the percentage of business from past customers versus new customers as well as the number of referrals they are receiving. This tracking can be done in most database programs.

Keeping your clients happy long after their loan has closed will ensure that they continue to send referrals and return to you again when they need another home loan or a refinance. As many successful originators agree, the best way to do this is to establish a successful customer-for-life program.

Source: Richard Larimer, CEO Champfund Mortgage. Rich can be reached at rlarimer@eleadcenter.com

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