A Closer Look at Customer Service: The Often-Overlooked Key to Customer Satisfaction and Company Growth
It’s often said that commercial lenders and brokers are in the financial services industry. While this is not incorrect, it’s the wrong mindset. We are in the customer service business, addressing clients’ financial needs. Customer service can be distilled into one concept I call the “Inconvenience Ratio.”
The Inconvenience Ratio measures how much you inconvenience yourself to convenience the customer—essentially, how much you simplify their lives. To provide stellar customer service, follow these three rules:
Treat every customer as if they were the owner of your company.
Be kind and approachable.
Ensure your words and actions encourage the customer to return.
These principles prioritize the customer’s convenience over your own. You make their lives easier, create a positive experience, and show that their needs are your focus 24/7. In customer-facing roles, it’s easy to get frustrated, but you must stay positive and approachable—the person everyone wants to work with.
A company can only deliver great customer service by instilling this mindset throughout its ranks. Before entering finance, I spent 15 years in the hospitality industry, where customer service is paramount. I see this focus lacking in many firms today. When you show customers you care, they are far more likely to return and refer others. In essence, better customer service means more revenue for you.
The pursuit of excellent customer service continues even after the transaction is complete. You should always seek ways to provide the best possible service, demonstrating that you value the customer beyond the monetary exchange. Placing greater emphasis on customer service would benefit many firms in the financial services industry and yield significant returns. Customers deserve your best effort, as they entrust you with their money and loyalty.
About the Author
Jake Yuskaitis is a former US Marine and the Co-founder of Frontier Funding.
Jake Yuskaitis, a former US Marine Corps Infantryman, transitioned into the financial services industry as a loan officer, where he quickly rose to lead a team of professionals. His top priority has always been to serve borrowers with dedication, prioritizing their needs and delivering exceptional, client-focused service.
About Frontier Funding
Founded by two seasoned professionals with extensive experience in real estate financing, Frontier Funding understands the unique challenges and opportunities in the private money lending space. We have built a culture that reflects our core values in all our services.
At Frontier Funding, our mission is to provide real estate investors with a reliable solution for all their lending needs. With a wide range of funding options, we ensure that every loan is met with the right solution—giving investors the confidence to count on us.