• Say thank you: Borrowers love cookies, brownies, flowers, fruit baskets, etc., but these gifts probably won't make your phone ring four-and-a-half years after settlement. By all means, use these thank-you gifts to your advantage; just don't rely on them exclusively to earn your borrowers' loyalty.
• Stay in-house or outsource? In-house marketing and outsourcing your marketing each have pros and cons. Doing it in-house affords an unparalleled degree of control and flexibility, but program implementation and maintenance can be expensive and time-consuming. Outsourcing, on the other hand, frees you to focus on your primary function: originating loans and showering customers with incredible service. Some CRM-providers can even manage the responses and sales leads that their programs generate for you. This can come at the expense of complete control and can limit flexibility, however.
• Invest wisely: Remember, CRM is about increasing profits, not expenses. If your plan is too expensive, you'll be tempted to end it when business slows down (which is precisely when it can help you the most). Earmark a small portion of each deal or commission for CRM. The best plans are those that are simple and affordable so as to provide a solid return on investment.
• Remember why the hare lost the race: CRM is a long-term endeavor, not a quick fix. Chances are that your phone won't start ringing off the hook with repeat and referral business six weeks after you implement your program. Even a seemingly modest reply rate of 5 percent can translate into a successful program when you consider the high quality of referrals and leads from past customers.
• Ask and you shall receive: Don't be shy about asking for referrals. Remind borrowers that you value the opportunity to serve their friends and family just as you served them. If you've established any sort of rapport with them, they will understand that this is your livelihood, and they won't mind being asked.
• Satisfaction surveys: At settlement, let your clients know that they'll soon be receiving a satisfaction survey. Mention that you take the surveys seriously and that you'd consider it a personal favor if they could take a few minutes to complete it honestly and return it. While you may end up with fewer returned surveys than if you'd done them at settlement, those you do get back will usually be more comprehensive, complete and honest. For a real eye-opener, include the following question on your survey: "What was the most memorable aspect of your experience with us?"
• The right frequency: The key is to reach out often enough to increase your odds of being in the right place at the right time -- but not so much that your contact becomes routine. Usually, a mailing every few months and the occasional phone call will do nicely.

In the end, remember: If you're not tending your garden, you can rest assured that someone else is.

Dave Satterlee is the Atlantic regional marketing adviser for Continuity Programs Inc. With clients in all 50 states, CPI provides customer-retention solutions for the mortgage, banking and real estate industries. Satterlee can be reached at (800) 251-3874 or dsatterlee@continuityprograms.com. Visit the company's Web site at www.ContinuityPrograms.com.

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