A Guide to Customer Retention in The Current Mortgage Industry
Author: Volly What is retention? Retention is the ability of a company to attract repeating sales from their existing customers. Prioritizing customer retention directs the
Customers are the lifeblood of a mortgage lender, which means customer service is the lifeblood as well. With exemplary customer service, borrowers will become repeat borrowers, offer glowing testimonials, and tell their friends, growing the business in a virtuous cycle of mutual benefit.
For all the money and effort that goes into generating leads, many never receive any follow-up. A lender can set itself apart through scrupulous attention to excellent customer service with the help of prompt follow-up, accessible assistance, a robust CRM (customer relationship management) system to automate and streamline the process.
For all the interest in the next flashy marketing strategy, excellent customer service remains the best marketing investment that money can buy.
For Mortgage Professionals
Secret shoppers reveal that most leads never receive any follow-up. A lender can gain substantial competitive advantages simply by following up.
Fantastic customer service leads to referrals, rave reviews, and repeat business.
Even one loan can drive significant revenue for a mortgage lender, so treating customers like gold makes a big difference in the bottom line.
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