A positive customer experience is critical for any successful business. The happier the customer, the more profitable the salesperson. Not only are happy customers more likely to make repeat purchases, they’re more likely to recommend others to a provider. Ultimately, focusing on things like managing expectations and controlling sales cycle times are critical to consistent success. In fact, a recent study by the STRATMOR Group showed that the Net Promotor Score (NPS) fell 57 points when mortgage lenders missed the closing date. However, the time to close isn’t just important for the mortgage industry. In fact, focusing on sales cycle times can benefit any sales professional, regardless of industry.
In order to maintain high levels of customer satisfaction throughout the sales process, make sure you are setting realistic expectations and then taking action to make sure those expectations are met.
Manage Expectations
One of the easiest ways to provide great service is to set a foundation of clear expectations. To “underpromise and overdeliver” is a tried and true way to delight clients. Therefore, make sure you spend time in each client interaction to reach common ground on expectations for the sales process and cycle time. To ensure you present clients with the best information, review previous sales cycles to get an understanding of the average time each step of the process takes. This can not only help you provide clients a realistic picture of the process, but it also helps you improve. By identifying areas to improve or accelerate, you can better streamline your sales process.
Use Technology to Streamline Sales Cycle Times
Technology has changed the way we do business. The events of 2020 not only increased the need for technical solutions, but it also accelerated their adoption. Things changed fast n the mortgage lending industry. Indeed, solutions like online notaries and hybrid title and valuations are becoming the norm.
To create an efficient sales process, start by reviewing what you’re already doing. Identify any sticking points that take up too much time. Is there something you can do to save time at this stage of the process? If not, it’s time to start researching solutions. From online applications or order forms to underwriting or accounts receivable solutions, there’s probably a service that can help. Compare your options and select the tool that makes the most sense for your clients. Remember, you’re creating a sales process built to deliver high customer satisfaction, so make sure any tool is easy to access and navigate.
Monitor and Follow-Up Frequently
Once you have selected the services that will help you deliver a consistent customer journey with efficient cycle times, be sure to keep an eye on things. Closely monitoring where each client is in the sales process helps you close the deal. Not only will this help you identify when a client needs help but it could help you find ways to further streamline your process.
You can use CardTapp to review the activity with your tools and resources to keep tabs on where clients are in the sales process. Consider using tags to assign groups of app users to phases or stages of your sales process so you can quickly filter and make sure they’re on track to close.