Winning Back Lost Customers

Have you ever lost a customer? Maybe you didn’t even have them yet. You just got the big, “no!” Mortgage Cicerone and Better Closer have some ideas that might surprise you.

Mortgage Cicerone

We get to peak in on a devastating moment in any sales person’s day-losing a customer to the competition. But, the Mortgage Cicerone is not discouraged because he has a strategy for getting these losses back:

  1. Call them seven to ten days after it happens.
  2. Don’t call and ask if they have changed their mind.
  3. Remind them when they initially decided to use another lender, you offered to do whatever you could to help them…even if you are not doing their loan.
  4. Professionally ask them how their loan is going and offer your help again.
  5. If their loan process is going badly (this will be the case one in three times), you have a perfect opportunity to recapture the prospect.

 

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Similarly, Bill Rice of BetterCloser.com thinks that this is not a lost opportunity. Quite to the contrary he thinks it is one to attack because the competitor has a high probability of disappointing the client:

You don’t even have to ask for the sale. You will be amazed how many of these deals you will win. They will come to you because:

  • If you are this attentive and responsive, what would it be like to be your customer
  • The competitor will most probably frustrate the customer when they get into processing
  • If you don’t get them this time they will call you next time because of your commitment

So, don’t ignore the customers you lose to the competitor they may be your highest converting lead.

In all cases, don’t get to discouraged after all sales people often suffer from Post Traumatic Sales Disorder (PTSD).

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