All marketing is not the same, there are many products and services and many audiences for those products and services both before and after the sale or process. When I say process, I’m talking about all that happens in the transaction from beginning to end.

Our clients are Loan Originators and Real Estate Agents, and the Exodus Marketing Newsletter is designed specifically to maintain the relationship developed between the past client and the LO or Agent. The sole and express purpose of this is to generate referrals. Everything we do at Exodus Marketing is to that end. EVERYTHING!

As I said, all marketing isn’t the same because all products and services aren’t the same. Whether you’re an LO, a REA, or both the marketing functions the same when it comes to people you’ve already worked with or past clients.

Some expect referrals to come from past clients without any effort after the file is closed and that rarely happens with any consistency there are some things to know so let’s get into them.

Know this #1: The Past Client

The borrower is only a borrower before funding, afterwards, they are a debtor.

The buyer is only a buyer before closing, then they are a homeowner.

This distinction is so important because it illustrates who the client is before and after the process. They relate to who you are based on this distinction.

You are so critical to the process but when it’s closed, it’s not quite the same. This isn’t the easiest thing to hear but it’s true.

Know this #2: Urgency

During the process for example the borrower often becomes dependent on the LO. Even if they know a little bit about underwriting, they lean on you for support and even see you as the one getting them the loan. Anyone who buys a house knows exactly what I’m saying. The appreciation one feels during the process and especially at the good news is emotional in varying ways and it’s very real. After the close, the appreciation is still there but the urgency they had is gone. Ignoring this is a huge mistake that no email campaign can fix.

The past client doesn’t see the industry the same way you do. They don’t wake up in the morning thinking like an LO or REA and this affects what you should be communicating to them. Not addressing this in it’s simplest form destroys marketing efforts.

Know this #3: The Buyer’s Journey  

This is a widely-experienced concept but not always understood, you can learn about it by clicking here for a short presentation on what the buyer’s journey is. Suffice it to say, your past clients buyer’s journey is long over. The referral(s) you get, should dispense with the buyer’s journey because your past client who referred them is an ambassador for you and your business. Your relationship with them creates this position. No one thinks of this when they put their marketing plan in place. 

Know this #4: Types of Marketing

While there are many marketing tactics, the past client is not susceptible to marketing tactics that are designed for retail purchases. If you own a sandwich shop, and you can get someone to eat one twice a week, you’ve got something going. Who comes back for another loan or a new home in a week? Silly question but relevant.

Sandwiches, gym memberships, weight loss products, shoes, suits, and/or anything in the middle grocery store isles all have one thing in common. They are impulse purchases and retail marketing tactics for impulse purchases work reasonably well. Loans and Homes… not impulse purchases. To make a long story shorter, marketing past clients for referrals has no gimmick to it, it’s not possible, and there are no tricks. It’s relationship marketing and it’s the most effective referral generator arrow in your marketing quiver. 

Know this #5: All you have left

When you look at the lack of a buyer’s journey, urgency, and the understanding of marketing types, you can’t spend time and resources trying to market past clients for a refi or new purchase 5 to 10 years down the road. That’s an incredible waste of resources. All you have left is the relationship you developed during the process. That relationship will gain referrals from everyone who left the transaction happy, scared, fulfilled, and finally free from worry that the home they love or the refinance they need is now a reality.

Your past client’s joy and gratitude when everything worked out is not something to be neglected. It’s like showering, it’s not permanent. If you have a newsletter in your client’s home within the first 30 days of the closing, you remain part of the home-buying experience. That’s enormous and the ongoing impact on the relationship means that they’ll want to help you, they’ll want to help those they care about and they’re still talking about their new home far longer than many might suspect. It’s the biggest life change and experience we see and you are directly connected to it. Those they care about will be referred to the person they trust and that means a referral for you from an ambassador of your business. This is what it’s all about!

We know exactly what we do here at Exodus, there’s no ambiguity about our mission or our client’s needs, and what works. There is no better medium to generate referrals in this industry than a personalized newsletter and there is no newsletter provider more focused, better equipped, and experienced than Exodus Marketing. [See for yourself] If you want to grow your client base in a consistent way, that’s both inexpensive and successful, schedule a call and we’ll show you what our clients experience.

Together, we’ll turn your past clients into a referral source that lasts a lifetime!