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Brokers should differentiate themselves by using novel strategies to improve client relationships, according to a leading customer service expert.
Martin Grunstein, customer service consultant and a presenter at the upcoming Better Business Summit, told The Adviser that brokers need to do more than just steer clients to the best home loan interest rate.
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“In terms of the generation of repeat and referral business, there needs to be follow-up, there need to be ongoing relationships,” he said.
In his own business as a customer service consultant, Mr Grunstein has developed a unique way to build stronger relationships with clients.
“A lot of people send out Christmas cards; I send my clients 'Happy November 27' cards.
“People get 100 cards at Christmas and no one remembers who sent them; they only get one card on November 27,” he said.
More important than the cards themselves is the follow-up phone call while the broker is still front of mind, said Mr Grunstein.
“I get 70 per cent of my business for the next year from the phone calls,” he said.
“Just by having a catalyst for me to make a ‘how’s things?’ phone call; and that’s a lovely time to say, ‘Oh, by the way do you know anybody else who may be interested in the services?’”
Brokers are in the "people industry", not the finance industry, Mr Grunstein said, and they need to understand how people make their purchasing decisions.
“[Brokers'] income will be a function of their people skills and their marketing skills, not their technical skills,” said Mr Grunstein.
You can see Mr Grunstein present more tips on how to provide successful customer service at The Adviser’s Better Business Summit.
