Living Life by Design

We all know that is we want to make more money, work fewer hours and have less stress, we have to commit to a High-Performance Game Plan that involves a mandate, Keeping Your Customers for Life!

Here’s the third and final High-Performance strategy:

3. Retain and Cultivate Existing Customers

Most people will do business with you once. The key is to make them want to do business with you forever. It takes far more time, energy and money to attract a new customer than it does to take care of one you already have.  You can take this to the bank – If you want your customers for life, you must talk with them during their life.  Sadly, most originators fail massively at retaining their clients.

I think it’s because they haven’t taken the time and calculated the lifetime value of a client. If they did, and if they executed on a follow-up plan to stay in touch and nurture that relationship, they would receive more and more business from that client than any other sourcing strategy.  For example, one happy borrower could refer you a friend that would apply and close each year.  If that first borrower did that every year, and you make $2,500 in commission, that one borrower is worth $12,500.  If you had 100 loyal borrowers, that’s an extra $250,000 a year!  If you had 200, 300 or even 400 loyal borrowers…

Your clients know people who need to know you. Apply the concept to any client you have, and you can see the potential. If your clients love you, they will refer you to others who will also help build your business.

Successful businesses S.I.T. (Stay in Touch) on their customers for life, constantly giving them easy ways to do business again and again. So, if you truly want to be a high-performance originator that makes more money in less time with less stress, then start implementing these three strategies consistently every day.