Relationships matter - lay the foundations for repeat business

It’s a phrase that is bandied about a lot – ‘relationships matter’.

Phil Whitehouse
30th March 2015
Phil Whitehouse MCI Mortgage Club

From high street banks with carefully thought out TV campaigns to brokers developing their client base, anyone in business knows that good relationships are the key to success. But while it’s often said, it’s not always explained. Why exactly do relationships matter so much? How can getting to know someone – be it a customer, a lender or a club – help you to grow your business?

It’s all about gaining a better understanding of what’s needed from you in order to have a mutually beneficial relationship.

If you align yourself with a club, provider or lender which takes the time to get to know you and your business it will be able to cater to your needs. It will know which areas you are focused on and which you want to develop. It’ll understand your compliance and technology needs and, as a result, you’ll both benefit from the relationship.

Of course, the same applies for consumers. If a customer does not have a good relationship with their broker they cannot feel comfortable that that broker understands their needs and what they are trying to achieve. They need to trust their broker and trust that he or she has their best interest at heart.

And if a customer trusts you and builds a good relationship with you they will not only return to you but will recommend you to family and friends, thus generating referrals.

So, as a broker, what can you do to ensure you build strong relationships with your clients?

Stay in contact but don’t impose. Make sure your clients know you’re there to help but do so through less invasive means such as emailing occasionally. Keeping in regular contact shows the client you still care about their needs, even after the sale and also lays the foundation for repeat business when it comes to remortgaging.

Respond quickly. If a client contacts you, show them how much you value them as a customer by responding to them promptly. Ensure your technology is up to speed so you can deal with any enquiries quickly and efficiently.

Remember the smaller details. As with all relationships, paying attention to details is a great way of showing your client they are important to you.

Go the extra mile and be all they need. To have a really strong relationship with your clients you want to ensure they can come to you for all of their needs. Make sure you review your products and services to ensure you are competitive and can answer most customers’ needs or else your client will have to go elsewhere and if they do this you risk losing them altogether.

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