Famous Last Words: What is your (mortgage professional) lasting impression?

A defining moment, a Hollywood hero-shot, a quote to be remembered – famous last words leave a lasting impression.  Here are just a few of the great ones that come to mind – “With great power comes great responsibility” (Spiderman); “And in case I don’t see ya, good afternoon, good evening, and good night!” (The Truman Show); “I’ll be back” (pronounced, “baaaack”, no reference necessary).  These simple yet profound one-liners remind us instantly of an entire story-line, create a wave of emotions and maybe even bring goose-bumps to our arms.

Recognize any of these famous mortgage marketing one-liners? – “I look forward to a mutually beneficial relationship”; “I hope my service exceeds your expectations”; “Working to be your lender for life.”  Really, that’s it??  Is this really the lasting impression that some hope to leave with their clients?  Now, I know that the mortgage business is no Hollywood movie script, and most clients have likely not gotten goose bumps from copy on your website, but there has to be a better way to communicate a message to clients that will (at minimum) leave some kind of impression, even if it is only moderately memorable and only partially lasting.  If you are using one of these hackneyed phrases (look it up), I beg you to stop, for your own good.  To be blended in with the mortgage masses and to be remembered only as “the guy (or gal) that did our mortgage last time” is to travel down a road that leads to a quiet phone, a rarely visited website and little to no repeat/referral business.  To be remembered by past clients, to be recalled and to literally be re-called when the need for mortgage info arises, you need more than a cute one-liner, more than a bullet point list of service standards and more than a subscription to a “put your picture on this postcard” service.

Here are a few suggestions to make sure your last impression is a lasting impression:

1. Imitation is the highest form of flattery, but not very memorable. Flattery is nice, but it may not be the best strategy in being remembered.  Be unique, be creative and be sincere.  If you promise to keep clients informed throughout the loan process, you better have a solid plan and system for doing just that.  If you boast of helping your clients manage their mortgage after closing, you need more than just a scheduled once a year phone call.

2. Great service is a great start (only a great start). Too many mortgage professionals assume that the lasting impression of their exceptional service will create repeat business.  The real truth is that exceptional service will only create the opportunity for repeat business.  In other words, your past clients will consider you in the list of candidates (maybe even highly consider you) when they are looking for a mortgage.  Where you fall in that hierarchy is based on how great your service (and their mortgage experience) really was and the last suggestion below – which also happens to be THE most important thing to remember, when hoping to be remembered.

3. Don’t let your last impression be your final impression. Great marketing slogans and company-wide sales promises are certainly important in being remembered; and great service is critical for building a business (and staying in business); but don’t assume that your clients will come back to you as their sole source of mortgage advice.  Consumers are continually being bombarded by mortgage solicitations.  Your clients (the ones you won over with your exceptional service) are constantly receiving offers for mortgage advice and information – from their loan servicer, from television and radio advertisements, from real estate and finance websites and from banner ads galore (someone must be clicking on the dancing lady, right?).  In order to build a lasting impression, you must be continually communicating with your clients.  And communicating with your clients is much different than marketing to your clients.

Knowing the difference between those two (famous last words: “ . . . and knowing is half the battle” anyone?) is the key to making sure that your last impression, is in fact, not your last impression.

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myRateTrack.com is a web-based marketing system for mortgage professionals – to market to past clients and new leads.  The myRateTrack.com system automatically generates and delivers (via email) detailed, customized, customer-specific refinance reports (also available instantly); includes a target refinance rate notification system; and a feature to offer advertisement space to referral partners.  For more information, call 888.781.0005 ext 1 or visit www.myRateTrack.com.

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