Do you deliver what you promise?

No matter how slick your messaging or advertising is, if you do not deliver what you promise, your customers will leave you.

I am showing my age here, but in the late 80s and 90s, the Decore Shampoo ad was one of the most recognised adverts on TV. The worst part was you couldn’t get the tune out of your head after watching the advert.

Customers bought the product and Decore’s sales went through the roof.

But eventually everyone worked out that the shampoo ingredients were poor.

The actual product didn’t deliver what the advertising promised.

Customers perceived that there wasn’t substance behind the Decore brand and they voted with their wallets.

To arrest the slide in sales, the company later tried a new formulation but the damage was already done.

There are numerous case studies of how very successful businesses went bust because they promised and stopped delivering.

You can read another similar story about how Schlitz Beer went from hero to zero.

As the Decore case study shows, advertising can grab attention but customers are not silly.

Quality matters

The quality of what you deliver is paramount.

My point here is if you do not keep your customers’ best interests at heart, your mortgage business will not survive.

Especially so when, as mortgage brokers, we don’t really control our lenders, nor do we control mortgage interest rates or fees.

But we do control how we interact with our customers and also the quality of our advice.

Add value to what you can control

For instance, one way you can continue to add value to your customers is to conduct periodical reviews on their home loans.

Make sure that their interest rates are still competitive and that the product continues to meet their requirements.

And if you continue to demonstrate value to your customers, they will continue to stay with you and you will continue to be paid the Trail Commission.

More likely, your customers will refer their friends and family to your business and your reputation will grow within the community.

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