The top five reasons customer service is key to business growth

In today’s highly competitive business world, finding and securing customers is an ever-increasing challenge for business owners.

Having a decisive business edge, including a full suite of product offerings, is critical. But one key area that can’t be underestimated, or overlooked completely, is the importance of good customer service. So, why is it so important?

1.It builds trust with clients

Good customer service is vital for building strong, trusting relationships with your clients.

Being punctual and professional, really listening, explaining the different options available, ensuring the process runs smoothly and proactively keeping clients informed of the progress of their loan at all times are all components of good customer service.

When you’re transparent and client-focused you can build trust. Your clients will come to see you as attentive, reliable and genuinely in touch with their needs.

2.It increases how often customers use your services

It’s no accident that repeat business is the result of satisfied customers.

Once you’ve established yourself as a broker who provides excellent service, your clients are more likely to return. They know what they can expect from you, and that you’ll achieve the outcome they’re looking for.

If you don’t want to rely on luck to bring customers back, a good strategy is to follow up on an ongoing basis, keeping people informed about market developments. You can also make contact from time to time, to discuss their future needs. This will demonstrate your commitment to customer service excellence.

3.It builds your word-of-mouth reputation

In business, your reputation is everything. By treating your customers well, it’s amazing how quickly positive feedback can lead to referrals – especially given how easily customers can provide recommendations over social media channels, websites and online forums.

When customers are happy, the returns will invariably flow to you. The likelihood of word-of-mouth referrals increases as customers spread their positive news across their networks. That will almost certainly translate into higher revenue for you over time.

4.It shows customers you genuinely care

Good customer service shows your customers you genuinely care about their situation. Imagine the opposite: a customer visiting a broker who was distracted, who didn’t listen, who just wasn’t interested. It’s unlikely the broker would see that customer again.

By leveraging your knowledge of the mortgage market, as well as your human qualities, you show you care – and you embody great customer service.

5.It’s the main thing customers will remember

Once a customer is finally settled in their new home, the lending options and paperwork become a distant memory. What will stay with them is how they were treated, and how you met their needs – in short, the level of customer service you provided.