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By: Jessica Darnbrough
Quality client retention techniques are becoming increasingly important to a broker's bottom line, as more start to source the majority of their business from existing clients.
According to The Adviser’s latest sentiment survey, 59.3 per cent of broker expect to source the most business from existing clients over the coming quarter, up 10.9 per cent on this time last year.
Tiffen & Co and The Mortgage Detective director Alison Whittle told The Adviser that consistency was the key to client retention.
The brokerage annually hosts movie night s and wine tasting days for its clients.
“Our clients have come to know and enjoy the different events we put on. They look forward to it,” Ms Whittle said.
“It is something we do, without expecting anything in return.”
Apart from hosting annual events, Ms Whittle said it is also important for brokers to have ongoing communication with their clients, whether that be through birthday and Christmas cards, newsletters, or yearly phone calls.
“We deliver the same customer service to each and every single borrower, and so far that has worked to bring them back time and again.”
More than 80 per cent of the brokerage’s activity comes from both repeat and referral business.
