If you’re involved with a bank or credit union and have a referral program, you’re likely always looking for ways to improve it. It can be hard to keep a constant flow of referrals happening over time. Check out these great tips for getting more referrals.
If you want referrals, you must bite the bullet and ask. When you’re working a project with a client, just ask if there’s anyone they know that might want something similar. You may be surprised at the answer you get.
Give a referral to get a referral. If you scratch the back of the next guy, he’ll often turn around and do the same for you. This is a low-key way to get a stream of referrals going in. You can always find someone who wants promotion.
Make a list of people you’d love to work with. Check them out on LinkedIn and see if you have a connection. If you do, talk to them. You can see about networking and helping each other out.
On that same note, make sure your own LinkedIn profile is up to date. Make a point to drive engagement to your profile. This could mean posting an interesting link or writing up a blog post for the site.
Every bank has businesses that do things for them. This includes suppliers and vendors and more. You want to be sure these individuals know what you do and how you help people. This can lead to increased referrals.
Have a seminar or webinar where you talk about something relating to the financial industry. Serve breakfast or lunch along with it. Get out there and make this event special, as this will make people more interested in helping you.
When networking and building referrals, make it worth the other person’s while. Offer an incentive to provide referrals. This can be monetary or it can be something completely different. Everyone loves being appreciated.
Some people may be nervous about referring someone on the chance that it won’t work out. Give them a reason to have confidence by telling them how much of your business is from those who have been referred.
Do it Now
You do not want to wait until your referral program is having issues to look for great referrals. Find them now and look at them on a consistent basis. This will ensure you aren’t stuck in a rough spot when things get slow.
Show that you aren’t the same as the bank on the corner or the credit union down the block. If you have people something to talk about, they will. Make sure that something is going to be in your favor.
Make sure every customer knows what you do. Many people don’t know every service you offer, so consider chatting them up and offering information about those things. This can lead to a more educated consumer base.
Anyone who provides you with a referral should receive some kind of thank you. Just acknowledging the effort can go a long way. You could send out a thank you card, shoot off an email, or send a handwritten note. This will encourage people to continue referring people your way.
While you’re working on your referral program, let FinancialRefer help you. You can visit the website at ReferTrac to find out about the services offered, which revolve around helping your bank referral management. Try a free demo or ask questions on the website.