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Being a successful broker, writes Francis Wilkins, is now as much about customer service and meeting the client’s needs as ever
NCCP has, arguably, increased the professionalism of the broking industry, and with a greater focus on the client’s broader financial needs, customer service has become an important point of differentiation
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So, what are some of the key customer service principles that will help you remain ahead of the competition?
Keep your promises
Put this at the top of your list. It’s essential that you establish a trust-based relationship with your client right from the word go. At the outset, they’ll probably know next to nothing about you and will be looking for signs that you’ll look after them and guide them through the – often scary – process of securing the right loan. If you promise to send them a document but don’t, the client will start wondering whether there are other areas in which you might let them down. Set a time for your initial fact find meeting and then show up 15 minutes late and there’s a good chance you’ll lose them before you’ve even started.
Answer emails and voicemails promptly
People are time-poor – you probably are yourself – and there’s no better way to irritate a client than to leave them hanging, awaiting a response to their question. The customer service of most businesses sits somewhere between uninspiring and downright woeful. You can, however, turn this to your advantage by responding to clients’ correspondence promptly. Do that and you will quickly come across as a broker who stands out from the rest of the pack. It might take a bit of work as there will always be people clamouring for your attention, but it will be time well spent – and could well result in a referral.
Ensure your information is easily available
The loan application process already involves more than enough forms and paperwork. Borrowers, however, need information – lots of it – and if your website has a poor navigation structure or your hard copy documents are out of date, hard to read or even just non-existent, you won’t do yourself any favours. Ensure that if you give your clients any guides, brochures or information packs, they know exactly what they are for and where to go if they need more information. Don’t make them work to find what they need.
Make your online processes and website user-friendly
A similar point to the one above. As more and more of the loan application process is handled electronically, don’t be let down by substandard web and online systems. Gen Y borrowers are tech-savvy and won’t tolerate it, while those with less online experience will want it kept simple. Make sure your systems are built or assessed by an expert so that even an ‘IT dummy’ could make their way through without any technology tears.
Build a customer service culture
As a broker, there’s a good chance you do some or virtually all of your work alone, allowing you to maintain a customer service focus in everything you do. It’s also important, however, to instill the culture in your colleagues. Your ‘customers’ are not just your clients, they are also your aggregator, your lenders, your BDMs and others. You can improve your business by following principles of customer service to enhance your relationship with these stakeholders. It goes without saying that politeness, respect and saying ‘thank you’ are at the heart of customer service.
Emphasise the positives
The property market, as well as borrowers themselves, took a battering in 2011 so it’s important to be supportive of clients as we enter a New Year. Emphasise that regardless of where the property cycle is at, buying an investment property or a home is an exciting undertaking for anyone. Plus, it’s not all bad news – further cuts in the cash rate are flagged for early 2012 while fierce inter-bank competition has seen development of some attractive loan packages, so borrowers still have things to look forward to.
