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How to reawaken lost clients – Pepper Homeloans

by: Jeff Knight, head of marketing, Pepper Homeloans
  • 18/04/2016
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How to reawaken lost clients – Pepper Homeloans
Don't let your existing and previous clients become lost clients. Pepper Homeloans' Jeff Knight shares his tips on how to keep track of your customer base.

As a broker your business focus will, understandably, be on existing clients and prospects. But there is a lucrative group that often gets overlooked – lost clients. These are clients with whom you’ve had no contact for several years. However, a lost client does not equate to a lost cause.

The reality is that you’re twice as likely to win back a lost client as sell to a new one. Looking to the future, I can’t emphasise enough the importance of developing strategies to win back lost clients, as well as retaining and generating new ones – and it’s not difficult to do.

I am sure some readers will be thinking along the lines of eggs and grandmas at this point, but this is such an important opportunity that I thought it would be worth sharing a few tips:

  • Firstly, recognise that lost clients doesn’t mean they were dissatisfied clients, as there may be reasons that were nothing to do with you why the contact ceased.
  • Trawl through your database to identify lost clients and then contact them by phone or email. Do a fact find and record their up-to-date contact details and seek permission to keep in touch.
  • Don’t be too eager to try and sell a product or service when first re-establishing contact. The fancy term is lead-nurturing, which is all about keeping in touch and when they’re ready to buy, they will get in touch with you. Be patient.
  • Communicate regularly with clients. There is no rule about the frequency, but it should be when you have something relevant to share, which can be industry news for example.
  • Don’t use Outlook for mass email; it’s fraught with danger. Use a proper e-mail marketing system. There are plenty of good off-the-shelf systems available that don’t cost the earth.
  • Use technology to help with customer relationship management. There are plenty of CRM systems that can help you target the right clients at the right time (for example, five months before a fixed rate expires).

I can guarantee that the growth you’re looking for this year can be achieved from your existing client base and by reawakening lost clients.

Why make life more difficult than it needs to be?

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