More often than not, warm referrals are more receptive and responsive than cold leads, and they have a higher chance of converting to an actual customer. While that’s all good in theory, how do you actually take a happy customer and turn them into a source of referrals? Here are five ways to obtain quality business from your existing clients.
1. Ask and you shall receive
If you want a customer to refer their friends and colleagues, you have to ask them. But the secret to success here is making sure you get your timing right. Perhaps they’ve just picked up the keys to their new home, or have actually told you that they appreciate all your hard work. Strike while the iron is hot, and ask them straight away if they know anyone else that could use your help.
2. Keep yourself top of mind
Reminding people to refer business to you may seem pushy, but we’re all busy so it never hurts to offer a gentle nudge. If you send a regular newsletter to your clients, add a line at the end explaining how important their referrals are to your business, or add a forward link to the email so it is easy for them to share with others. In your brochures and business cards, add a line on the back saying that you welcome recommendations, and perhaps even suggest the best way for them to refer people to you.
3. Use feedback to impress
Going above and beyond the call of duty is a great way to get positive word of mouth. After their settlement, ask your clients for feedback about the process (you can use an online platform like SurveyMonkey to create a simple survey). Once the feedback is in, you can then act on their suggestions. Circle back to let them know you’ve dealt with their feedback, and ask for a referral. This gives you an opportunity to not only generate new leads, but also improve your business, and show your customers that you respect and listen to their opinions.
4. Add a plus-one
Some clients may not be comfortable just handing over the contact details of a colleague, but they may be happy to bring them along to an event. Host a breakfast briefing on the property market, or sign up to attend a seminar being run by a local accountant. Then invite some clients that may be interested and suggest they bring along someone who may find your services useful as well. This way you can work your charm on the prospect directly.
5. Be thankful?
When a client does refer you some business, be sure to thank them. People remember when they’ve been acknowledged, and it may encourage them to send more business your way. Whether it’s a quick phone call or a handwritten thank-you note, politeness never goes out of fashion.
By incorporating these simple steps into your business process, you can set yourself up for a steady pipeline of warm referrals. And when they come through, you’ll need someone who is flexible in helping them find a loan that fits their needs. For more information contact your Pepper Money BDM today.