FROM THE GROUND UP - Celebrate and Renew

As 2011 comes to a close, writes FrontRunner Consulting’s Doug Mathlin, it’s not the time to market your services; it’s time to review your results and plan for 2012

MARKETING TO your client database at this time of year generally reaps few rewards.

This is typically a quiet period as many people are focused on holidays, end of year celebrations and covering for others while they are on leave.

Perhaps the best way to communicate with your clients at this time of year is to tell them about your office opening hours during the holiday period. If you are open for business, tell them so.

This would be a far more effective message than sending a Christmas card.

LOOKING BACK

I hope 2011 – challenges not withstanding – has been a successful year for your business. For many, it has been a recovery year – recovery from the GFC, that is – and an opportunity to rebound from a tough period.

If this is the case, reward yourself. Do something to celebrate your business growth before you take a break.

One of your final tasks this year should be to plan for 2012. It’s an obvious thing to do, but something that is very often overlooked. Planning before you break saves you time when you get back, allowing you to hit next year’s ground running.

Just remember, though, planning isn’t just goal setting.

In a recent meeting with a very experienced broker, I suggested it was time to plan for 2012.

The broker proudly replied that his plan was already complete. He showed me the volumes of home loans that he planned to settle and the number of leases and commercial deals planned for 2012.

My only response was, ‘How?’ After a brief discussion on effective planning, I explained that knowing the destination isn’t a plan – especially if you have little experience in actually making it to the intended destination.

The problem with goal setting is that the goals can become a ‘wish list’ or desired outcome without a formula to make them a reality.

PRAGMATIC PLANNING

An effective plan is one that tells you what to do at regular intervals to give you the best chance of reaching your goal.

For mortgage brokers, the plan should define how many referrer relationships we need to manage; a communication plan for existing clients; and new lead generation strategies to be implemented. Ideally, you should have your marketing initiatives documented for each month of the year before you start.

For example, in January, send an Australia Day message to your clients and referrers. Tell them that you will be in touch over the next month to discuss the year ahead. In February, call 10 clients every day to update your database and ask if they are considering buying, selling or refinancing this year.

In March, start your referral rewards campaign, offering every client who refers a new client to you a chance to win a $500 department store voucher. Note that the above action items are specific and certainly achievable in each month.

I recommend that you try to implement one or two things each month, rather than doing everything at the start of the year.

Have a great festive season!

By Doug Mathlin, Director, FrontRunner Consulting