Past customers are the key to long-term success in the mortgage business. A client appreciation party is a way to show your past clients that you are their mortgage advisor now and in the future. It’s the best way to meet your customers after the loan has closed and once again thank them for their business. Continued contact after your loan closing through emails, correspondence, and phone calls are helpful tools to stay in touch. You can keep them informed about new programs, cash-out options, or savings possibilities, but thank-you parties are one of the few ways you’ll get to meet them face-to-face. The following party tips will help you build customer loyalty, additional referrals, and increased transactions.

1. Guest List – Start by inviting all clients for whom you have closed a mortgage in the last 2 years. If your business mails out customer satisfaction surveys to past customers, be sure to review them when you create your invitation list. If you’ve had extremely dissatisfied customers, don’t invite them to the event. Add regular clients and real estate agents, insurance agents, builders, contractors, and attorneys who are good referral partners. Always invite members of your staff, including: processors, closers, post office closers, receptionists, sales managers, and anyone who has had contact with some of your previous clients.

2. Quote – Contact your sales manager or the main office and request a quote for the customer appreciation party. Try partnering with a title company, credit repair company, contractors, or insurance agent as a sponsor to increase the party budget.

3. Pick a location: Depending on your budget, you can reserve a party center, rent a pavilion in a park, or choose to have a barbecue in your parking lot. Just remember, customer appreciation parties should be a party, not a sales event.

4. Details of the party: quote and decide the time and day of your event. Would business hours or the weekend attract more attendees? Choose your food, drinks and entertainment. Do you want to hire a disk jockey or hire a band? Do you want to have a bounce house for the kids or a slot machine cabin for the adults?

5. Promotional Items – Want to offer all guests a prize for attending? Perhaps you can have a big prize and ask the sponsors of the event to provide gift cards. You can encourage your previous customers to attend the party by promoting the prizes offered at the event, such as: televisions or vacations. Inexpensive giveaways like: hats, t-shirts, coffee mugs, and promotional items at the party are fine, but make sure you also have some expensive giveaways to attract more past customers to your party.

6. Invitations – Mail invitations to all guests and follow up with email invitations 3 weeks before the party. Ask anyone who will be attending to RSVP, so you have an idea of ​​how much to buy for the party. A week in advance, follow up with phone calls to any previous clients who have not responded.

Make sure to pass the time at the party mingling with your guests. If mortgage questions come up, make a note of their information and let them know you’ll be in touch after the event. Use the party time to build relationships and don’t just sell. Hosting a well-planned and organized customer appreciation party will result in higher retention of previous customers, higher satisfaction with referral partners, improved imagery, and more consistent referrals.