how quicken loans uses social media to strengthen customer relationships 102510

VIPdesk Webinar Series

324 Fairfax Street | Alexandria, VA 22314 | 703-837-3518 | vipdesk.com | Confidential proprietary VIPdesk information | 2010 | 1

How Quicken Loans Uses Social Media to Strengthen Customer Relationships

Presented by:

Clayton ClossonWeb Content ManagerQuicken Loans

Kelly LaVauteSocial Media ManagerQuicken Loans View the Webinar

http://www.vipdesk.com/documents/How_Quicken_Loans_Uses_Social_Media_to_Strengthen_Customer_Relationships_Oct2010.wmv�

Today’s Agenda

• The importance of reputation management and customer communication via social media

• How Quicken Loans makes it easy for their customers to communicate with them via social media channels

• What social media tools Quicken Loans is using for communicating with its customers

• Best practices for communicating with customers via social media

• Lessons Quicken Loans has learned

• Suggestions for other brands starting the social customer communication process


The Presenters


Clayton ClossonWebsite Content ManagerQuicken Loans

Kelly LaVauteSocial Media ManagerQuicken Loans

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• Founded in 1985 - Privately owned

• The nation’s largest online retail lender

• The 5th largest overall lender

• $25 billion in closed loans in 2009

• One million closed loans since 1985

About Quicken Loans

About Quicken Loans

• We work with 10,000 new clients daily

• 300-500 closed loans every day

• 94% of closed clients would recommend us

• 49-member Client Relations Team

• Social Media Manager is liaison between Client Relations

and our clients

• Complaints represent only .33% of our clients

• Misunderstandings about: Real estate appraisals

Quicken Loans Deposit

Why would we a get complaint?


Our Reputation Management Approach

1. Respond to complaints

2. Educate and react

3. Encourage positive reviews


Respond to Complaints

• Get buy-in from senior mgt, PR and Legal

• Make sure offline resolution process is in place


Respond to Complaints

• Change in online client relations strategy

• Put our social media manager on front line

• Answer and resolve every complaint – blogs, review sites, complaints sites, social media, offline


Educate and React

• Responding isn’t enough

• We need to ADDRESS any issues

• EDUCATE our clients

• REACT by improving our processes


Educate and React

• Created information about appraisals

• Articles on our site

• Videos


Educate and React

• Answer questions as a Knowledge Partner in Yahoo! Answers


Educate and React


Educate and React

• Added appraisal and deposit information to

MyQuickenLoans.com

• Every client sees this BEFORE they sign their documents


Educate and React

• Created information about Quicken Loans Deposit

• Article on our sites

• Video


Educate and React


Encourage Positive Reviews

• 94% of our clients would recommend us, but most

online reviews were negative, so…

• We send EVERY closed client an invitation to review us, and…

• We ask happy clients to do video testimonial. Send them a FLIP.


Examples from the Front

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Who wants to know?

The Good

The Bad

Examples from the Front

Quicken Loans’ Social Networks

• Twitter

• Facebook

• Yahoo! Answers

• YouTube

• FriendFeed

• Flickr

• Zillow

• Linked In

• Active Rain

Quicken Loans’ Review Sites

• QuickenLoansReviews.com

• Epinions

• Viewpoints

• Facebook reviews

• YouTube

Quicken Loans-Operated Blogs

• What’s The DIFF? blog

• Community DIFF

• Quicken Loans Insider

• Quicken Loans Mortgage News

In Conclusion…

• Look for EVERY opportunity

• See complaints as an opportunity to educate the public and improve internally

• Make it easy for your clients to review you - offer incentives?

• Make SURE you have buy-in from stakeholders and internal processes that work

• Importance of offline Reputation Mgt. initiatives

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Questions and Discussion


Upcoming VIPdesk Webinars

November 2010•November 9: Customer Experience Management: The Key to Continued Business Growth & Success

December 2010•December 8: How to Integrate Social Media Into Your Contact Center


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Clayton ClossonWebsite Content Manager

(313) [email protected]

www.twitter.com/quickenloanswww.QuickenLoans.com

Kelly LaVauteSocial Media Manager

(313) [email protected]

www.twitter.com/quickenloanswww.QuickenLoans.com

(703) [email protected]/vipdesk

www.vipdesk.com

http://www.twitter.com/quickenloans�

http://www.quickenloans.com/�

http://www.twitter.com/quickenloans�

http://www.quickenloans.com/�

http://www.twitter.com/vipdesk�

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how quicken loans uses social media to strengthen customer relationships 102510

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