Schnurman's sales success: Plan to succeedMark Schnurmanreferral source, relationships, consistent, mass customization
Getting business from a new referral source is difficult. Any
referral source (real estate agent, attorney, accountant, financial
advisor, etc.) worth anything already has a relationship with a
loan officer. They may not be thrilled with their current loan
officer, but why should they change? The devil you know is often
better than the devil you don't. Change is hard. Therefore, to
successfully create new relationships, you must make a compelling
case as to why they should give you their business.
Industry research demonstrates that it can take up to 30
contacts to turn a prospect into a client. Most loan officers are
not willing to commit to the time and effort necessary to develop
new referral relationships. Recently, a real estate agent told me
that if she had a penny for every loan officer who visited her
office once or twice, never to return, she would be retired.
Consistent, repeatable, predictable and planned behavior is
necessary to succeed.
By implementing a process of mass customization, you can easily
stay in contact and deliver white glove experience with very little
effort. A systematic follow-up campaign, or drip campaign,
simplifies your job by enabling you to execute on a systematic
approach, which positions you as an expert and assists you in
acquiring referrals. The first call on a potential referral source
is important, but it is rare to get business committed the first
time, as there are no magic bullets. The top loan officers I work
with create follow-up processes that give their prospects a
Copernican complex - the referral sources think the world revolves
Goals of drip marketing campaign should include:
-Building rapport and trust
-Displaying and establishing expertise, professionalism and
-Modeling service-oriented behavior
-Committing to the referral source's best interest
-Comparing favorably to other loan officers
-Frequent contacting - more than current provider
You should make your initial contact by interactive means (e.g.
face-to-face or over the phone). After you make the contact, send
an informal e-mail. The same e-mail script can be used after all
first contacts and customized simply by referencing your meeting in
the opening line. Send the e-mail the same day as the meeting,
include a photo (makes you memorable) and some collateral material
on your firm. Sample:
It was great meeting with you today. I enjoyed learning
about the success you have had in Soho, and believe I can help you
build on that success. GFI Mortgage Bankers
has been in business for 25 years, and we have all the programs,
products and services to customize solutions and meet your clients'
needs. As a direct lender, we control the process that ensures your
deals will close on time. Finally, my approach focuses on making
you look good. Attached, you will find some information on my firm,
my service commitments and personal bio. Look forward to speaking
with you soon.
The same day, send out a handwritten note. Handwritten notes are
more formal and have greater impact than e-mails. Your note should
be simple and to the point:
Nice meeting you. I understand the critical importance of a
loan officer to your business and look forward to the opportunity
to serve you in the future.
The note should be accompanied by your business card.
Within three or four business days, call the referral source to
set up a formal meeting and send an e-mail out the same day. Your
goal must be a minimum of two contacts (drips) a week, one being
face to face. Drop by the real estate agent's office once or twice
a week. Send an e-mail every week, drop materials or a note in the
mail, and make a call. Persistent? Aggressive? Perhaps, but it's
necessary for success. You need to differentiate yourself from the
competition and shorten the time it takes to make the 30 contacts
necessary to get business.
Success is simple. Create and implement your drip marketing
campaign and see your business grow to success!
Mark Schnurman is the director of business development for
New York-based GFI
Mortgage Bankers. His writing draws upon his experience
recruiting, training, managing and coaching thousands of
salespeople. He may be contacted at (212) 837-4645 or e-mail [email protected]