Happy Clients Are Gold

How important is client satisfaction to a mortgage broker? The answer is in this stat:

A whopping 82% of broker clients find out about their broker via referral. (Source: Maritz/CAAMP)

Existing clients are gold. As a broker, they’re our best source of new business. That’s why it pays to take care of and invest in them.

It’s not uncommon for some brokers to spend $2,000+ a quarter on media advertising. That is money that could be spent on a pair of unexpected movie tickets (or fill in your "thank you" reward of choice) for almost 100 clients.

We know one broker who holds elaborate catered barbeques with live entertainment for his clients and referral sources. This annual event costs him several thousand dollars, but the return is many multiples of that.

Other brokers spend thousands on indirect promotional methods, like search engine optimization (SEO). Brokers investing in SEO may be disappointed to hear that only 4% of consumers find their broker using a search engine, according to Maritz.

Moreover, if you’re not in the first five search results for your key terms, click-through is surprisingly low.

Most brokers would be better off saving their SEO dollars and reallocating much of their marketing budgets to directly rewarding clients and referral sources.

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Rob McLister, CMT