Loan officers know how important it is to make their customers happy. If you ask any of us about our business goals and values, one of the first things we mention will probably be our commitment to satisfying our clients. Without our clients, we wouldn’t have a business, and happy customers are incredibly profitable — it’s how we get reviews and testimonials, build our credibility online, grow our brand, and earn referrals. Of course, you’re likely already working to make sure your clients are satisfied, but if you’re not assessing it in a specific way, then you may be missing out on valuable information. You may think your client is happy, only to be unpleasantly surprised by a negative review. Dissatisfied customers cost a lot when all is said and done. Sure, we closed the deal, but an unhappy client’s online review or shared verbally with their network can cost us tenfold. So, how can you measure your clients’ satisfaction? Well, we need to ask them. Here are a few ways to check-in and get that information:
Client Satisfaction Surveys
Getting valuable feedback from our clients with a client satisfaction survey can be invaluable. It will show us the areas in which we excel, along with the areas that need work. There are three main means to survey our clients:
Email Surveys
An email survey will allow you to delve into the ‘why’ behind a client’s satisfaction or dissatisfaction. While they do have a lower average response rate than more simple surveys, the upside is that the clients who do respond will often give you more in-depth feedback. Google Forms is free, and a great tool to get started with email surveys.
Post-Closing Surveys
After a client’s closing, you should take that opportunity to get some feedback while the experience is still fresh in their mind. A simple paper survey or an email including a link to your online survey can ensure you know exactly how they feel.
In-App Surveys
This type of survey tends to have the greatest response rate, but only if your client is already engaging with you online or in an app. Here, you can come up with a question or two to get a feel for your client’s experience. Things like “How is everything going for you?” and a few response options to click, like “Poor”, Fair”, Good”, Great”, and Fantastic” will allow you some insight into how you’re doing. You can use these simple surveys to check-in along the way as clients move through the borrowing process. Getting feedback multiple times throughout the process is the most helpful if we want to grow and improve.
Our highest priority should be to make sure that we’ve satisfied every client. Asking for information about their experience not only promotes growth, but it also shows our clients that we genuinely care. The LOs that focus their efforts on the happiness of every client will continue to bring in new clients, new referrals, and exponentially grow their business. Ultimately, it comes down to communication — I wrote an article a couple weeks back on how loan officers can be better communicators, here.
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