AgentMortgage

Why mortgage lenders struggle for repeat business

Travel industry provides model for success

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I recently returned from a boat tour in Indonesia, and was impressed with the quality of the service provided by the tour company. The employees go out of their way to make the experience a pleasurable one for the customers. Other tour companies we have used in the past were equally good. My impressions are consistent with those of many other travelers with whom I have compared notes. Afterwards, I couldn't help asking myself why service quality and customer satisfaction in the travel-tour industry is so much higher than it is in the home-mortgage industry. What accounts for the difference? Repeat Business: A major part of the answer is that successful tour companies generate a very high rate of repeat business. On my recent trip, about 95 percent of the clients had traveled with the company before. To generate repeat business, you must provide a high level of customer satisfaction. Repeat business is the secret of success because it reduces marketing cost. In the home-mo...