Former customers are the key to long-term success in the mortgage business. A client celebration is a way to show your past clients that you are their mortgage advisor now and in the future. This is the best way to meet your customers after the loan closes and thank them again for their business. Ongoing contact after the loan ends via emails, postal mail and phone calls are useful tools for staying in touch. You can keep them updated about new programs, payout options, or savings opportunities, but thank you parties are one of the few ways you can meet them in person. The following party suggestions will help you create customer loyalty, additional referrals and more transactions.
1. Guest List – Start by inviting all customers for whom you have taken out a mortgage in the last 2 years. If your company emails customer satisfaction surveys to your past customers, be sure to review them when creating your invitation list. If you have had extremely dissatisfied customers, do not invite them to the event. Add regular customers and brokers, insurance agents, builders, contractors and lawyers who are good referral partners. Always invite your employees, including clerks, closers, postal closers, receptionists, sales managers, and anyone who may have had contact with some of your previous customers.
2. Budget – Contact your sales manager or head office and ask them for a budget for your customer party. Try working with a title company, credit repair company, contractor or insurance agent as a sponsor to increase the party budget.
3. Choose a venue – Depending on your budget, you may be able to book a party center, rent a pavilion at a park, or have a barbecue in your parking lot. Remember: Customer review parties should be a party, not a sales event.
4. Party Details – Set the price and set the time and day of your event. Would business hours or a weekend attract more visitors? Choose your food, drinks and entertainment. Would you like to hire a disc jockey or a band? Would you like a bouncy castle for the kids or an ATM stand for the adults?
5. Promotional Items – Would you like to offer all guests a door prize for attending? Maybe you can win a grand prize and ask the event sponsors for gift cards. You can encourage your past customers to attend the party by highlighting the prizes offered at the event, such as televisions or vacation deals. Inexpensive gifts like hats, t-shirts, coffee mugs, and party promotional items are fine, but make sure you also have some expensive gifts to attract more former customers to your party.
6. Invitations – Email invitations to all guests and then email invitations 3 weeks before the party. Ask everyone who is attending the RSVP so you have an idea of how much you will need to purchase for the party. A week in advance, call any previous customers who have not yet responded.
Make sure you spend the time at the party mingling with your guests. If questions arise about the mortgage, write down their information and let them know you will be in touch after the event. Use the time at the party to build relationships and avoid just selling. Hosting a well-planned and organized customer review party results in stronger retention from past customers, greater satisfaction with referral partners, improved image quality, and more frequent referrals.
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