How to structure your database and level up your business

We hear the clichés all the time…

"Organization is the key to success."

"Stay organized, stay ahead."

"Tidy space, clear mind."

…I could spend all day listing them. But here’s the thing about clichés:

Sometimes, they’re spot on. Especially for MLOs.

In this business, we all know how important it is to engage the people you’re trying to do business with. We call it your database, and we break that database down in 4 categories:

1. Leads: Someone who’s expressed interest in potentially working with you 
2. Prospects: Someone who’s expressed interest and has actually started engaging with you
3. Customers: People who have transacted once
4. Clients: People who have transacted more than once or referred you other customers

Because the way you nurture each type is so different, miscategorizing your database can take away opportunities to engage people the right way, at the right time. 

For example: You wouldn’t approach a client you’ve worked with multiple times over the years the same way you’d talk to a lead who started looking into buying their first property a month ago. 

And if the goal is to convert most of these into customers & clients, knowing what stage they’re at is going to inform how you build out a strategy to reach that end goal.

You’ve got a customer who you want to turn into a client? Wow them.

Try gifting, conduct home anniversary phone calls, send them snail mail, implement Annual Mortgage Review calls so they know you’re still working with them even after a deal is closed.

Efforts like that could secure you a client for life, but if that’s not labeled accordingly in your database, you’ll stay in the dark. 

So here’s my assignment for you: 

Build out your database and organize accordingly. Then build out those nurture actions for each category and watch your business take off.

• Amir

Want to learn more about how we can help you grow?

1. Book a call to speak with one of our advisors about joining the Growth Only Community
2. Join our Facebook group for Top Producing Modern Loan Officers.
3. Connect with me on social

P.S. Even the people who don’t transact with you can still live in your database as a different type of client. Just because you didn’t earn their business now doesn’t mean you can’t in the future…which we’ll get into next week. Stay tuned for that email, we’ll be getting into how to turn rejection into opportunity.

P.P.S. Share this with another MLO you know who needs to hear this!

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