Customer Loyalty

Thanks to the euro’s declining value, mortgage rates are at their lowest in years. Like many others, we are taking advantage of these low rates to refinance our home. We chose to re-finance using our original mortgage broker (Usher Financial Group) because they cultivated a strong relationship with us that continued post-sale.

As we picked up the closing check at our bank (also happens to hold our current mortgage), the teller asked “Why didn’t you use us?” This guy asked the wrong question! What he should have asked is “What could we have done to win your business?”

Doing business with your customers is NOT the same as having a relationship with them. If you want to win my business, then cultivate a relationship with me. No relationship = zero loyalty.

How do you cultivate customer loyalty? What makes you a loyal customer? Leave a comment and share your tips on cultivating customer loyalty.

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4 Responses to “Customer Loyalty”

  1. homeloan_ninja Says:

    that is right on the money. i’ve been in the home loan industry for 5 of the most turbulent years it has seen, and i feel pretty confident in saying that i wouldn’t be able to survive without relationships. the “big bank” model is virtually incapable of creating and maintaining relationships because they are not personal.

    every time i find myself staring at my computer for 12 hrs, immersed in some project, i get burned out. why? because the root of business is getting out and meeting people. i make a conscious decision every day to look for new opportunities to meet people. great post!

  2. servicerox Says:

    I agree – the big banks don’t know how to really engage their customers in order to build meaningful relationships (unless you have gobs of money, maybe then they will show some personal interest).

    Based on your comment, I am not surprised to hear that you have stayed afloat these last few years – you totally “get it”! 🙂

    Thanks for stopping by and contributing – best wishes on your continued success!

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