Powered by MOMENTUM MEDIA
the adviser logo
Broker

5 things brokers can do to impress and keep clients

by Stefan Kazakis6 minute read

How do you stand out from the crowd in a very competitive market as a mortgage broker?

Do you aim to satisfy your customers? Is this the key to your customer service approach? Is this the culture you are creating in your business?

If you answered yes to these questions you might think you have your customer service approach all sorted – but I’m sorry to tell you that you don’t. Just satisfying your customers is no longer enough. It’s an old-fashioned approach that says you give your customers exactly what they want and no more. Here, however, are my five top tips to help you to impress and keep your clients.

Aim to serve

Advertisement
Advertisement

As you shape your business for the long term, it’s critical that you stay humble and grounded, and that you respect the clients who are giving you the opportunity to serve them. You must aim to develop relationships of mutual benefit, and this starts with providing them with a value proposition and then following through on it. They have chosen your business and their loyalty, inclusive of their money, is based on what you have promised to deliver to them, so meeting these expectations must be the basis of your relationships with your customers.

Lifetime value

Calculate what the lifetime value of your customer is. As a reference, if every new customer invests $10,000 and on average they return to do business with you six times, then their lifetime value is $60,000. Now how are you going to treat your potential customer? It changes the mindset, doesn’t it?

Customer loyalty

Make them advocates and raving fans. Customer loyalty is about when people will not leave you just because something is cheaper or fancier or newer elsewhere – they truly belong to you. You should be building this because it’s cheaper to keep a customer than it is to find a new one. You need to keep being relevant and frequent. Getting results for your clients is about doing the right thing and getting beneficial feedback immediately. It’s about meeting – and then exceeding – their expectations. If you do this you will keep them for life; they won’t need to go anywhere else. You own the real estate in their mind for the service you provide.

Retention strategy

You can develop systems that will help you delight your customers and keep them coming back. These are called retention strategies, and they are an important part of growing your business. Not having these systems in place means you have an ‘I’m going to keep finding new clients every week because I don’t look after my existing clients properly and soon I’m going to go broke’ strategy. Think about how powerful word of mouth is. We all tell friends, family and business associates about our experiences with other businesses, good and bad. What will people be saying about your business? How are you training your current A-grade customers to be advocates for you and help you to build your benchmark business? What are the words that you wish for your current A-graders to use in describing your business?

Referral strategy

Putting systems in place to take care of the above strategies will create referrals from people who were on their way to the bridge and you stepped in and guided them across yours. Once you’ve taken them from A to B and they are delighted on the other side, then they will help guide people across your bridge to you! It’s like an ongoing conveyor belt. And even better, we all trust referrals when they come from somebody we know, so we’re much more likely to act on them. It’s an unpaid and highly trustworthy sales team. Can you think of anything better for your business?


stefan kazakisStefan Kazakis

Stefan Kazakis is a business strategist, sought-after presenter and speaker and author of the new book, From Deadwood to Diamonds (Major Street Publishing, $29.95). He is a futurist and an inspiring communicator with the voice of experience. For more information please visit www.stefankazakis.com  or email This email address is being protected from spambots. You need JavaScript enabled to view it..

 

stefan kazakis

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

PhilipLowe mb

RBA attempts to curb runaway inflation

On Tuesday (5 July) the Reserve Bank of Australia (RBA) announced at its monetary policy meeting it will increase the...

READ MORE
flood qld suburbs ta

Home loan support offered to NSW flood victims

Widespread persistent heavy rain over large swathes of NSW over the weekend and into Monday (4 July) has caused major...

READ MORE
Dr Jane Rennie CPA

Accountants to decline ‘capacity to repay’ requests

The leaders of CPA Australia, the Institute of Public Accountants (IPA), and the Chartered Accountants Australia and...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more