"It takes 10 times"

Mortgage and Lending with Southwest Funding

"It takes 10 times more time, effort and expense to win new customers than it takes to keep existing ones."

If this is true, are you investing as much to develop the infrastructure and support existing customers as you spend on efforts to acquire new ones?

How much is a loyal customer worth to you if they provide repeat business and act as an evangelist to promote your products or services to others?

Are you giving the right amount of time, effort and investment to your loyal customers?

All loan officers know the importance of staying in front of past clients, however FEW actually consistently do so. On a daily basis I hear of the many reasons that individuals don't stay in front of their clients. I hear, "I'm just too busy" or "It cost too much". I've even heard several loan officers say,"It just does not work".


Comments (4)

Michael Eisenberg
eXp Realty - Bellingham, WA
Bellingham Real Estate Guy
We all need to learn this lesson, starting with me.
May 15, 2007 07:06 AM
Dave Cheatham
INC Financial - Bartlett, IL
I do this all the time.  I keep in front of my clients.  They really do become part of my family.  I love it.
May 15, 2007 08:05 AM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon
I do this but not often enough - thanks for the reminder
May 15, 2007 05:58 PM
Tom Burris
NMLS# 335055 - Baton Rouge, LA
Texas/Louisiana Mortgage Pro - 13 YRS Experience

I recognize the importance of keeping in touch with old clients.... but I still haven't found the 'perfect follow-up campaign'

Thanks for the heads up

May 16, 2007 01:19 AM