What are some of the best practices for following up with your network contacts?

1 Identify your purpose

Before you reach out to any of your network contacts, you should have a clear purpose for your follow-up. Is it to thank them for a referral, to update them on a loan status, to offer them some valuable information, or to invite them to an event? Having a purpose will help you craft a relevant and personalized message that shows your appreciation and interest in your contact, and also provides them with some value or benefit. Avoid sending generic or salesy messages that don't have a specific purpose or call to action.

2 Set a frequency

Another important factor to consider when following up with your network contacts is how often you should contact them. There is no one-size-fits-all answer to this question, as it depends on the type and strength of your relationship, the stage of the loan process, and the preferences of your contact. However, a general rule of thumb is to follow up with your contacts at least once a quarter, or more frequently if there is a reason to do so. For example, you may want to follow up with a past client every month after closing, then every three months for the first year, then every six months thereafter. You may also want to follow up with a referral partner every week or every other week, depending on the volume and quality of referrals they send you. The key is to find a balance between staying in touch and not being intrusive.

3 Choose a method

The third aspect of following up with your network contacts is choosing the best method of communication for each contact and each situation. There are many options available, such as phone calls, emails, text messages, social media messages, handwritten notes, newsletters, or even video messages. The best method depends on the preference and availability of your contact, as well as the purpose and urgency of your follow-up. For example, a phone call may be more appropriate for a time-sensitive or personal matter, such as confirming a loan approval or congratulating a client on their anniversary. An email or a text message may be more suitable for a less urgent or more informational matter, such as sending a market update or a referral request. A handwritten note or a newsletter may be more effective for a more casual or seasonal matter, such as expressing gratitude or sharing holiday greetings. A social media message or a video message may be more engaging and creative for a more fun or educational matter, such as sharing a testimonial or a tip. The key is to mix up your methods and use the ones that match your contact's preferences and expectations.

4 Track your results

The final best practice for following up with your network contacts is to track your results and measure your effectiveness. You can use a CRM system, a spreadsheet, or a calendar to keep track of when, how, and why you contacted each of your network contacts, and what response or outcome you received. This will help you evaluate your follow-up strategy and identify what works and what doesn't. You can also use this data to segment your network contacts into different groups based on their level of engagement, interest, or loyalty, and tailor your follow-up accordingly. For example, you may want to follow up more frequently and personally with your top referral sources, and less frequently and more professionally with your cold leads. The key is to use your data to optimize your follow-up and improve your relationships.

Following up with your network contacts is not a one-time or random activity, but a continuous and intentional process that requires planning, execution, and evaluation. By following these best practices, you can follow up with your network contacts effectively and consistently, and build trust, rapport, and loyalty with them. This will ultimately lead to more referrals, repeat business, and growth for your mortgage marketing career.