In the neighborhood I live in, the bagel business is highly competitive. There are six stores that specialize in the product in my zip code and the adjoining one.
As part of an effort to stand out from the crowd, several offer specialty sandwiches named after local features. Another common offering is the "baker's dozen"—13 bagels for the price of 12; the store I was in has a standing offer, 18 bagels for the price of 12 on Wednesday mornings. But that same store has another great marketing angle available, and it seems it doesn't know it.
At the back of the store, on the board which lists the prices for individual bagels, is a section called bagel tips. This is aimed at the person who buys bagels in bulk for the week.
As I looked over these tips, I realized I did not know most of them (one of which was freeze, not refrigerate your bagels; another said not to microwave them).
This was great stuff, but to see the list you had to hunt it down. It was at the opposite end of the store from the cash register.
If it was up to me, I would have the tips posted on the register and even Xeroxed sheets available for customers to take home.
So what is the mortgage sales angle? How many of you give your customers tips on how to treat their mortgage once the loan closes? This could be done at various stages of the process and would be extremely helpful for all kinds of applicants.
For example, many people don't know that their payment on a fixed-rate mortgage can change from year-to-year. They don't understand that while the principal and interest are constant, taxes and insurance can vary. Basic things like that.
It is the little things like this that help develop repeat and referral business.
