It is time to move beyond the “customer is always right” conventional wisdom, and toward creating a corporate culture that provides functional and emotional value to your customers. The search for exceptional service has spawned the need for customer-centricity. Implementing a customer service initiative must not only entail establishing a customer service center, but establishing a cultural revolution within the organization. With advertising saturation and increased competition, it's all too easy for your customers to stop calling you for their mortgage needs and never tell you why. This is why building and maintaining long-term customer relationships and providing your customers with an unsurpassed customer care experience should be one of your top priorities.

Leveraging existing client relationships makes sense. By doing so, you increase revenue and referrals and reduce marketing expenses and client turnover. An effective customer care strategy doesn't have to be complex, but it does take time, knowledge of the customer, and consistency. The following tips show you how to go the extra mile for your customers:

Incorporate the personal touch

If the only way you keep in contact with your clients is to send out a yearly Christmas card, you're shortchanging both your customers and yourself. Customer-focused businesses know that good customer care includes the frequent "high-touch" communications:

Thank you notes: Make it a habit to send a thank you note each time you close a deal or receive a testimonial or referral. People appreciate thank you notes because not many businesses send them anymore and because they show you care. Extend the personalization factor handwriting the note as well as addressing the envelope.

Keep in touch mailings: Keep your customers in mind as you read industry journals and other publications and clip articles they might find interesting. Attach a short note that says, "I thought of you when I read this – hope all is well." Your customers will appreciate the gesture, and it's a good way for you to keep your name in front of them.

Informative e-newsletters are another effective method for keeping in touch with clients – especially in the mortgage business.

Surveys: Successful companies also solicit feedback from their customers and then act on it. To solicit feedback, provide forms on your Web site and periodically send out surveys to former and current customers.

Send information kits

Send your prospective customers, referrals and referral sources corporate information kits. These kits can be a relatively simple packet that includes information about your company, how to contact you and your staff, or details about your Web site and the information customers can find there.

Use referral rewards

When customers refer your company to others, thank them with a card, a gift certificate, movie tickets, or anything you think your customer will appreciate. Be sure and send rewards consistently, even if the referral doesn't result in new business. If a referral results in new business, taking your customer out to lunch is also a good way to thank him or her.

Managing customer relationships takes time and effort. If you want to improve your business and your pipeline, you must develop timely and regular communications for your customers, no matter where they are in the sales cycle. With the current competitive interest rates in the residential mortgage market, customer service has become the primary differentiator for lenders and brokers. By allowing customers to actively participate in a one-to-one relationship, businesses can lower the cost of acquiring a new customer and simultaneously increase customer loyalty and sales. In addition, companies can gain insight from customer responses to send even more relevant, personalized future messages. Creating that strategic customer care program will make a positive impact on your bottom line. Impressing the customer is what success is all about.


Article submitted by Richard Larimer. Rich is the CEO of Champfund Mortgage. He can be reached at rlarimer@champfund.com

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