Sunday, October 2, 2011

Chase Bank Home Loan Modifications - Facts For the Consumer

If you are one of an increasing number of people facing extreme financial difficulties and struggling to make your monthly mortgage payments, you may be relieved to hear that foreclosure is not your only option. A loan modification plan is a viable possibility, depending on your lender and loan insurer, to save your home. Below you will find important information ascertaining to the Chase Bank Home Loan modification scheme.

In March 2009, the President brought into effect the Homeowner Stability Initiative, a scheme that offers lenders and borrowers alike incentives to modify existing mortgages in such a way that the monthly payment does not exceed 30% of the gross monthly income. Your eligibility for this scheme will depend largely on who insures your home loan. Only loans insured by Freddie Mac or Fannie Mae qualify for this scheme. If you are not sure who insures your loan, contact Chase and simply ask them.

Chase Customer Service

As with any financial scheme, there are regulations in place. Only loans no homes in which the owner is occupying the property will be eligible. In addition, the mortgage must have been taken out before 2009 and must currently exceed, under existing terms, 31% of your total income before tax. No loan will be eligible for modification more than once under this loan. Finally, your unpaid principal must not be great than 9750.

This loan modification scheme is a viable means for homeowners to greatly improve their financial situations. If you meet all the above criteria, your next step should be to contact a trained financial advisor. These schemes often provide better rates to borrowers than banks, as the lenders are being assisted by the President's scheme incentives.

If you find out from Chase that your loan is not insured by the above named insurers, do not worry as they also have their own loan modification plan in place, which is well worth researching before resorting to foreclosure. Much like the President's loan modification plan, with Chase's own, the home in question must be occupied by the owner. However for their own plan, Chase also stipulate that the mortgage in question must be your first mortgage and must not have, under any circumstances, already been refinanced in any way. You must be able to demonstrate your ability to afford between 31 and 40% of your gross monthly income by way of a mortgage payment. This is higher than the government set rate of 41% as this scheme is entirely independent of the President's. Once you have confirmed that you fit the above criteria, you will then be required to supply Chase with a number of financial documents including tax returns, statements of earnings and also a hardship letter, detailing the reasons for your financial problems.

Whichever method of loan modification you opt for, for those who quality, modifying your loan in this way is substantially more beneficial than a foreclosure. Not only will this prevent you from losing your home but it will also leave your credit rating undamaged.

Chase Bank Home Loan Modifications - Facts For the Consumer

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Saturday, October 1, 2011

What Customers Should Know About Chase Bank Home Loan Modification

If you are struggling to make ends meet, what are your alternatives to foreclosure? Your loan insurance company and your lender determine when and how you can initiate a loan modification, so read on to learn about Chase Bank Home Loan Modification options available to you.

First, you need to know who your loan insurer is. Many homeowners don't know, since there has been no need. You can call Chase for the insurer's name. If Fannie Mae or Freddie Mac insures your loan, then in all likelihood you are eligible for the President's Homeowner Stability Initiative, a program that cuts mortgage payments to 31% of gross monthly income through working with borrowers and lenders.

Chase Customer Service

Naturally, some rules apply. The program is only available to owner-occupants; the unpaid principal must be under 9,750; and your mortgage must have originated prior to 2009. Also, your loan must be greater than 31% of your gross income. Finally, each loan can be modified only once under the plan.

This plan can really help qualified homeowners turn their finances around. If you believe you are eligible, then see a financial counselor. The President's plan provides incentives to both lenders and borrowers to ease the financial burden. Therefore, these government loan modifications give borrowers a better rate than available directly via their bank.

Even if your loan is not via Fannie Mae or Freddie Mac, there is hope. Chase Bank has its own program for loan modification, so check it out before you decide to initiate foreclosure proceedings. The Chase plan stipulates that you must be the owner-occupant; that you are holding a first mortgage, not yet refinanced or modified; and that you must be able to afford 31% to 40% of your gross monthly income as payment. Yes, this rate is higher than the government's, as Chase's loan modifications are not the government-financed Home Stability Initiative. Provided that you qualify, Chase will need a package from you that includes tax returns, a financial statement, bank statements, pay stubs, and a hardship letter.

However you refinance, whether via the government or Chase, loan modification is a far better choice than foreclosure, as you will keep your home and your credit rating.

What Customers Should Know About Chase Bank Home Loan Modification

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Thursday, September 29, 2011

Sales Prospecting - How Sales Prospectors Generate Leads Effectively

Sales Prospecting can take up a huge amount of a salesperson's time. It can also eat into the time of small business owners that sell their own services. That's why some businesses use prospectors to generate sales leads. A prospector focuses only on lead generation. They provide the sellers and closers with a regular supply of potential customers. That means the sellers can focus all their time on selling, which is what they are good at and that's great for the business.

Sales prospectors can be employed by the business or the role can be outsourced to a lead generation service. Because they are focusing on gathering sales leads they can use the most appropriate and effective method of contacting customers: Door knocking, telephone cold calling, or mail shot and follow-up. They also know how to generate leads at exhibitions and trade fairs. The prospectors can either pass the leads to the sales professionals or they can make appointments and update the seller's diaries.

Chase Customer Service

The Benefits of Using Sales Prospectors

It leaves the sellers free to meet with prospects and sell to them. Sales prospecting is not effective use of a sales professional's time. They should be focusing on presenting and closing, which is what they are good at.

The sales prospects gathered by the prospector can be qualified to a high standard before being passed on to the seller. This means it has been established that the leads are potential customers with a need, and the ability to buy.

If you employ your own prospectors it can be a great way to train future sales people. They get to learn about the products, the customers, and the competition. They are learning the role from the ground floor and gaining good experience.

When you use a lead generation service you can save money because you will not need to employ as many sales people. If all your sellers are doing their own prospecting the selling process will take longer and fewer closed deals per day will be brought in.

Sales Prospectors - A Great Addition to the Team

The sales process covers a wide range of different actions. It starts with cold calling and prospecting, and then qualifying the prospects as potential customers. It may include making sales appointments, and email or mail shot campaigns. Free trials or presentations may be an early selling stage. Then you get to the sales pitch where you try to close the sale. Is it realistic to expect a sales person to be an expert in each of these areas, and be able to manage their time to do all the varied tasks and actions? Take a look at your sales process and see if it makes financial and business sense to have sales prospectors that become experts at sales prospecting and providing sales opportunities for your closing experts.

Sales Prospecting - How Sales Prospectors Generate Leads Effectively

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Wednesday, September 28, 2011

Sales Presentation Training on How to Increase Sales Using Features and Benefits Effectively

When I'm presenting sales presentation training I'm amazed at how many people can't use features and benefits effectively. With sales training to understand real features and benefits they can quickly see how to increase sales and make more money.  If you are one of the people that don't understand how to use features and benefits, then that's great news. It's great because you can expect a big increase in your results when you add this sales presentation training to your sales skills. It gets to the very core of why people buy, and that they want the benefits of the product or service, not the features.

Definition of Features and Benefits   So let's start with a working definition of both features and benefits: A Feature is what the product or service does, how it works, what it looks like, the mechanics of it. A Benefit is what the features do for the customer. A feature of this sales presentation training is the information it will give you to add to your sales skills. A benefit of that feature is the extra income you can earn as a result of the additional sales you will close. Every feature can have lots of benefits. Many features can have the same benefits. The information you'll find on this page is a feature. The benefits are endless and they all result in you gaining something.

Chase Customer Service

How to increase sales using features and benefits   At some point in your sales process you ask the customer some questions to establish what they want. These wants are usually expressed by the customers as benefits. Saving money, feeling safe, and looking good, are all examples of benefits. None of these are features. In your sales presentation your aim is to present a sales proposal that gives the customer what they want. What they want are the benefits, not the features. The features are just the tools that supply the benefits.   If a customer wants a car that is cheap to run they don't want a boring sales presentation on the technical features of the engine and its fuel consumption. They want a presentation on the benefits, and in this example that is how it saves them dollars. Yes, you will include some features of the fuel economy system in your sales presentation, but only the few that are directly related to the main sales benefit that you are presenting. Focus on the benefit of cost effective motoring and only use the features of the car to support how the benefit is delivered.   This sales training can be just a simple change of your viewpoint on features and benefits. Many sales people are experts on the features of their product, and we all like talking about topics we are experts on. The benefits customers want can be unique to each individual and not as easy for sales people to talk about. This is where sales presentation training is important. To learn how to increase sales with a great presentation you must learn how to focus on the benefits not the features.  

A quick sales presentation training technique   Try this quick sales presentation training technique and see if you understand the relationship between the buyer's needs, the product features, and the sales benefits.   Choose a common need or want that your customers express when you are selling to them. Now select the feature or features of your product that can give them that what they want. When I'm giving sales presentation training it's at this point that the delegates start presenting. Don't, you will only be presenting features and that's not what the buyer wants to hear. Add another link to the chain and now select the benefits of those features that will match the buyer's needs and wants. This is how to increase sales when presenting.   It may sound something like this: You said; saving money, compared to what you currently pay out for fuel each month, was important to you. (Customer want) This car has the latest fuel saving technology that will give you 60 miles to the gallon around town. (Feature) That means you will fill up once every ten days instead of once a week as you currently do. So let's look at what you'll save over a typical year. (Benefit)   Add some agreement gaining at the right places and you've got the bases of a great sales presentation, with effective use of sales training on features and benefits. Sales presentation training is all about showing the customer a sales proposal with benefits that match their wants.  It's an important part of your selling process, and investing in more of these sales skills is how to increase sales and make more money.

Sales Presentation Training on How to Increase Sales Using Features and Benefits Effectively

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Tuesday, September 27, 2011

Getting and Keeping More Customers by Delivering on Your Promise!

About the same time that Robin Hood was supposedly "robbing from the rich to give to the poor" there were gentlemen on horseback called highwaymen, who roamed the roads and countryside of Merrie Olde England.

Typically they would chase down, or lay in wait for, horse drawn carriages travelling from one centre to another, with the sole objective of robbing the carriage and it's occupants of their valuables.

Chase Customer Service

"Stand and Deliver" was their command when they forced a carriage to a halt. Loosely updated this meant "get out and give me all your good stuff or I'll kill you".

Although not overly skilled in customer relationship building techniques, they never the less got results. They did, however, score low on gaining repeat and referral business. More about this later.

Nowadays I like to think that, "Stand and Deliver" means "I stand before you and give you my word that I will deliver on my promise to you". That promise may be of product performance, a value proposition, a service guarantee or whatever. But a promise is a promise and if broken it won't get you far in terms of repeat or referral business which, as we all know, is the lifeblood of any enterprise.

I also believe that when you "Stand and Deliver", what you charge for your product or service becomes less important to the buyer than the fulfillment of the stated or inferred promise of performance.

Golden Rule: You only get one chance to make a lasting impression

A few years back I remember flying from Florida to Toronto on American Airlines. It was a late suppertime flight and I was pretty tired after a long 3 day business trip. I decided to reward myself and upgraded to First Class looking forward to a few hours of escapism and pampering (hey - I read the ads and watch the commercials).

There were only a few of us in the First Class cabin. My memories are of a flight attendant who must have graduated from a "How to pull in the crowds at a carnival midway" night course, such was her manner.

She must have learned "Haute Cuisine and how to serve it" at the same school as my much anticipated relaxing meal turned out to be a tough burger and salty pretzels on a plastic plate dumped unceremoniously on the tray in front of me. The cardboard cup though, was a nice touch!

Did American Airlines "Stand and Deliver"? On my flight decidedly not but it was my flight that counted for me.

Did I fly American Airlines in their greatest revenue earning seats again? What do you think? To me, it just wasn't worth the money I paid. American didn't deliver on their promise.

Another time I flew the Concorde from London to New York. It cost me the equivalent of a down payment on a waterfront condo. Was it worth it? You bet!! From check in, to the curbside in New York, British Airways understood that for the dollars I'd handed over, I expected a unique, convenient and hedonistic experience. Did they "Stand and Deliver"?

Not only did they do so but they redefined the meaning of "delivering on a promise". To the extent that one of their key selling propositions "speed = less flying time" was a negative to me. I just wanted more, more and more! Sadly, it's too late now. The Concorde and it's product/service delivery are no more. I'd gladly pay 10 times the coach fare once more to experience that promise.

To my earlier point, what you charge for your product or service doesn't really matter to a certain extent providing you deliver on the promise of performance expected by your customer. You don't expect a tablecloth bought from a dollar store to last and last and become a family heirloom. You do expect that from a hand made Irish linen version for which you paid 0. And if it doesn't last, and wears thin, then you'll quite correctly feel that you didn't get what you paid for,

I often talk about marketing being about perception - not about reality and I believe that is true. Smart marketing will bring a customer to your front door, your website or the other end of the phone but all the smart marketing in the world won't get you that valuable repeat and referral business unless you "Stand and Deliver."

And every dollar you don't have to spend on marketing and promotion can be reinvested in capital upgrades or go straight to the bottom line. Your most valuable "marketing asset" is your customer base - treat them like gold - and they'll return the favour. Where art thou now oh Concorde!

Golden Rule: Conduct quality control audits to ensure that your product or service promise can and is being delivered and that your customer is receiving at minimum, performance that meets or exceeds their expectation. If it doesn't then change the promise or change what's being delivered.

So, you have a choice, you can buy into the approach of the Highwaymen, make a quick profit, a quick getaway and spend the rest of your time looking for new prospects or, you can practice my version of "Stand and Deliver" and reap the benefits of consistent repeat and referral business while building a quality reputation and earning a fair return on your investment.

Getting and Keeping More Customers by Delivering on Your Promise!

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Monday, September 26, 2011

Bold Ink Chase Business Credit Card

A great option for companies is the Bold Ink, a credit card business to JP Morgan Chase, which is quite similar in some respects to the Chase with Ink Unlimited Rewards card. However, the ink Bold Chase, who pay the balance at the end of the grace period, as the American Express Gold Card. The biggest advantage of this card is the flexible spending limits. Instead of a fixed spending limit, the card will work with you and your individual needs. There arean annual tax on paper, but is free for the first year.

There is no associated with the card because in April will be paid each month and are not included interest. But this also means that you have incredible flexibility and if you have a month when the economy is expanding and a lot of effort, you have the buying power of justice to the needs of your customers and the financial obligations of the company. How do you compare the Bold Ink, American ExpressGold Card to note is that the annual fee is free for the first year is $ 30 less than the American Express Gold Card.

Chase Customer Service

Bold Ink gives you one point for every dollar spent. There is no limit to the number of points you can earn and you get double points when booking travel through the Rewards program last trip. They also have a bonus structure with bold ink for the 7500 bonus points for spending $ 25,000 or more awarded in one year, 15,000 bonus points for spending$ 50,000 or more and 25,000 for the issuance of $ 100,000. This is cumulative, so you can total of 47,500 points for the issuance of $ 100,000 U.S. dollars or earn more. You also get the usual 10 points for every dollar spent on purchases at the mall Chase Rewards.

Other benefits and bonuses

The Bold Ink Chase has the advantage of a Priority Pass Airport Lounge for the first year, which is a very nice feature for business and is not generally offered by business cards. This includes access toRises to more than one hundred countries. You also get two free visits per year after the first year. A large shopping center is useful for ink-Bold is a map that you saw, which means it's twice as many companies on the AMEX Gold Card accepted means.

Travel Product

The Bold is a collision and theft coverage reporting on the car you rent with the ink-paper, which is an advantage that those who rent cars are often very comfortable, and there is no reimbursementfor expenses such as hotel, meals and other expenses in case of delay in excess of 12 hours for some events. Travel Accident Insurance is included with the Bold-card, up to $ 100,000 in coverage and if the airline loses your luggage, or if your luggage is stolen Chase cover it, until you have bought the tickets with the card ink.

There are many reasons not to use the Bold Ink Card from Chase, if you need a credit card company. With all the features and benefits that thisProduct offering, it is easy to see why so many professionals choose to bold ink with the paper of choice for business and travel expenses. Bottom line: It 'in a head-to-head races with the American Express Gold Card, but rather, if you add the benefits that accepts twice as many merchants, and that the annual fee is $ 30 less than the Gold Card.

Bold Ink Chase Business Credit Card


Sunday, September 25, 2011

Creating a Customer-Centric Organization in the 21st Century

Do you believe your organization is truly customer-centric? Research into customer buying behavior would predict that a random sample of your customers would say they are very satisfied with the products or services of your company eight out of ten times.

That would make most executives feel pretty good, wouldn't it? That is, until second level customer loyalty questions are asked regarding whether they intended to endorse or repurchase products and services from your company. When these questions are asked the research predicts that you may not like what you learn.

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Most executives intellectually understand that customer loyalty drives growth and profits. Yet the way many companies treat their customers, they undermine their ability to earn customers' loyalty.

All too often customers who appear to be very satisfied with a product or service are only as loyal as the next best price offer made by your competition. The question is raised: Why are highly satisfied customers not necessarily loyal customers?

The Root Cause of Declining Service Quality

Many businesses do not enjoy high levels of customer retention due to focusing on the wrong metrics. Most measurement and management systems are based on short-term profits-not managing long-term customer loyalty.

Financial metrics are lagging indicators - they tell you nothing in terms of how successful the organization will be in the future in terms of acquiring and retaining customers. By focusing on financial metrics geared to producing short-term profits, organizations simply drive the wrong behaviors. Until the conventional measurement paradigm changes, high levels of customer loyalty will continue to be difficult to achieve.

Organizations typically use customer satisfaction as the key metric to determine how well they are creating value for customers. The assumption is that if customer satisfaction scores are high, we must be doing things right and our customers must be loyal. Bad assumption.

Organizations primarily measuring customer satisfaction as the guidepost to validate that their company is customer-centric are operating from a false premise. There is compelling research evidence indicating no correlation between customer satisfaction and profitable growth.

One example of this phenomenon is illustrated in a study of hundreds of American companies who received high customer satisfaction ratings of 85% to 90%. The Bain Consulting Group found absolutely no correlation between the companies' high customer satisfaction scores and evidence of profitable growth.

Over the past two decades Bain and others have documented many examples of empirical evidence that in most industries the surest and fastest path to increase profitability and maximize shareholder value is to improve customer loyalty and retention. This knowledge has created quite the blather in management circles. Thus the in-vogue management mantra of today is: "We must become a more customer-centric organization!"

To be sure, customer-centric organizations enjoy the highest, sustainable levels of profitable growth. Successfully executing an over arching corporate strategy that creates a customer- centric organization, however, remains elusive to most companies.

How Customer-Centric Is Your Organization?

Now that we have dispelled the notion that customer satisfaction is the right metric to evaluate customer loyalty, let's cut to the chase. Customer satisfaction is a necessary condition of customer loyalty. But, in and of itself customer satisfaction does not guarantee customer loyalty because it is also a lagging indicator. The key measures that are leading indicators of customer loyalty are; (1) the percentage of your customers that intend to repurchase, and (2) the percentage of your customers willing to endorse your product or service to others.

Are you wondering why organizations don't focus on these metrics? Further, are you wondering why organizations don't execute strategies to increase the percentage of customers who intend to repurchase and/or endorse their products or services to others? The reason is what I call "The Profit Paradox".

To achieve high percentage rates of customers who intend to repurchase and/or are willing to endorse your product/service to others requires creating exceptional value for customers and delivering exemplary service. This often means foregoing short term profits for creating value that establishes long term customer relationships that ultimately are significantly more profitable (often more than three to five-fold more profitable) than short-term relationships.

The Key Performance Drivers of Customer Loyalty

Establishing the right metrics is a key performance driver that compels organizational and individual behavior to create customer loyalty. The other two mission critical performance drivers that create a customer-centric organization are people and culture.

The most important organizational asset that determines the level of customer loyalty achieved by an organization is the employees dedicated to creating superior value for customers. In days past, product and service quality was deemed the key driver of competitive advantage and customer loyalty. That's no longer the case. Today it's a given that you must have product and service quality to survive, not to thrive. Organizations today must create value beyond their product or service offerings to build customer loyalty.

Dedicated employees are not the only factor that creates a customer-centric organization. You must place the customer at the center of your strategic planning. But the body of evidence is growing that indicates high levels of employee engagement is a key organization performance driver that creates long-term sustainable profitability derived from customer loyalty.

To create superior value and deliver exceptional service, an organization must have employees committed to producing intellectual capital and giving discretionary effort. These are the fundamental drivers of competitive advantage today, but neither can be commanded or demanded by management. They can only be solicited and willingly given by enthusiastic and committed individuals. So how do you increase employee commitment and harness their discretionary effort and intellectual capital?

Organizations must place a significantly higher emphasis on the importance of employee engagement. The degree of employee engagement determines the amount of discretionary effort and intellectual capital willingly given. The link between growth and profit, as a result of a highly engaged workforce committed to maximizing customer loyalty, is evident at the majority of organizations considered the best companies for which to work in America.

Equally important to sustaining high levels of employee engagement is the ability to create a corporate culture in which employees believe in your organization's vision, mission and values. People work best when their activities are clearly aligned with a set of principles that inspire commitment. An organization's purpose must have a more noble essence than just increasing shareholder value to inspire employees. A company's mission and values must both significantly benefit them and their customers in order for employees to be motivated, giving their best effort in creating value for customers and delivering exceptional service.

A Management Road Map to Create a Customer-Centric Organization

Here's a bullet proof list of strategies and actions that management can take to become a more customer-centric organization, to lead to increased customer value, loyalty and profitable growth:

Create a vision, mission, and set of values (or guiding principles) that focus on creating value for customers. This serves a more inspiring purpose than increasing shareholder value (but ultimately will increase shareholder value!). "Walk the talk" of your organizational values and guiding principles. Operationally define "customer-centric": Establish metrics that define success and delineate the right behaviors to reinforce. Hire the best talent available and pay them better than the competition; link some aspect of everyone's compensation to organizational performance. Put your people first - help them fulfill their personal values and goals and develop their talents. Involve them in creating the implementation plans needed to drive your customer-focus strategy; Invest in them by providing training that's aligned with organizational strategy and empower them with the authority and responsibility to make decisions that will produce desired results. Align all human resource and management practices necessary to implement your customer-focus strategy and communicate the necessary behaviors and competencies required for successful implementation. Emphasize the importance of communication and building trust between employees and managers; Share information extensively regarding the company's financial performance and operational strategies.

Effective change management strategies are necessary to increase customer-focus and leverage resources to continuously create customer and shareholder value. But even the most brilliant change strategies will fall short of the mark if the majority of employees don't buy in. It is execution that generates results, and results are accomplished through the efforts of everyone.

When people are driven by values and an organizational purpose they believe in, given responsibility for the results of their efforts, and recognized and rewarded for what they do, they will deliver exceptional value and service to your customers. These dynamics create the conditions to establish long-term customer loyalty that results in superior long-term profitability, growth and increased shareholder value.

Creating a Customer-Centric Organization in the 21st Century

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