WHAT ORIGINATORS CAN LEARN FROM DRY CLEANERS ABOUT CLIENT LOYALTY
I recently received a flyer from a new dry cleaner in my town that just opened up. The coupon offered a coupon for a FREE SUIT dry cleaning and 50% off the next 4 dry cleaning bills . This coupon had an expiration date of 60 days.
LET’S BREAK DOWN THIS OFFER AND SEE WHAT WE AS AN ORIGINATORS CAN LEARN FROM IT.
We always wonder how to get agents and other referral partners to be loyal to us. It truly is one of the major sources of frustration and confusion. Every originator has done a great job for an agent, even on a tough deal , and then never heard from that agent again.
There are many strategies and tactics that work and that I have taught over the years and personally use. They all work to varying degrees.
BUT HERE IS THE BIG SECRET….YOU HAVE TO BECOME A HABIT.
This dry cleaner understands that he has to do something big first to even get you to come in and try his new business so he is offering a FREE DRYCLEAING.
Now he has you in the store and he is giving you 50% off for the next 4 dry cleaning bills so you will continue to come in drop off your cleaning and pick up what has already been done.
HE HAS BECOME YOUR HABIT…. By getting you to come back in at least 3 – 5 times.
His service may not be any better than current dry cleaners and his pricing may be the same or even a bit higher. But what he has done is truly amazing. You have changed dry cleaners and broken your habit of going there.
He then created a new habit and routine in your head but making his store your new dry cleaning by getting you to come back 3-5 times with bribes.
YOUR MISSION IS TO GET AGENTS TO USE YOU ONCE AND THEN FORCE THEM TO COME BACK AT LEAST 3-4 ADDITIONAL TIMES SO YOU CAN BECOME THEIR HABIT.
Here are a few ideas you can use to get the agents to begin using you.
1. Have other agents in their office recommend you.
2. Bring them a pre-approved buyer and let them know you have additional ones.
3. Offer them incentives they can offer to generate new buyers such as a Free Appraisal or 500 Off Closing Costs or Free Vacation.
Note- I am not an attorney but my understanding is that you can offer your client any incentive you like to do business with you but you are not allowed to offer any incentive to anyone for a referral. So I would suggest checking this with your own compliance department.
4. Show them that you are an expert in a niche their current lender can not handle.
5. Offer them an appearance on your podcast or radio show or an article in your newsletter.
6. Have one of your other referral sources recommend you like attorney, financial planner or accountant.
BUT REMEMBER THAT GETTING THEM TO USE YOU IS NOT THE SAME AS KEEPING THEM COMING BACK 3-4 MORE TIMES SO YO ARE A HABIT.
This probably sounds obvious but you MUST stay in front of your agents and referral sources as well as your buyers. The old saying “Out of Sight – Out Of Mind” is very true.
Send them monthly newsletters and stay in touch with them by phone. If you are able to see them in person that is even better. You should of course also communicate with them by e-mail but don’t the mistake of thinking that e-mail alone will do the job.
Now get to work identifying the agents you want to target and start implementing this right now. You will be happy you did and your bank account will thank you as well.
Dedicated To Increasing Your Production
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