Getting Referrals By Globalhlf.com At Isnare.com Ezine Articles

The Before and After

Word-of-mouth marketing works by itself in very few instances…and with very few people. An easier approach is getting referrals from your clients. There are many ways to do this, but the most obvious one is often overlooked…or perhaps avoided.

Ask for referrals…from every client, after every closing.

How to Ask

It sounds simple right? Well, it is simple…yet most loan agents fail to do it. Some agents slip a few cards or brochures in their client’s paperwork thinking that they’ll trickle out to new prospects. They might, or they might not. But a few words to go along with the cards and brochures will at least triple the likelihood that they’ll generate new clients.

When you ask for referrals, don’t be generic about it. Most people won’t remember anyone within their circle who is ‘in the market for a loan’. Instead, give specific examples of people who are likely to use your service in the near future. You might mention newlyweds, people making home improvements, or someone looking for a house. This is more likely to trigger your client’s memory.

Speaking to a Referral

Whether you’re cold calling a phone number your client had given you, or receiving a call from someone your client referred, keep in mind that you have a connection with them. One your competitors don’t have. Your connection is the client that referred them.

Your first contact with them should play on that connection. Mention your client by name, explaining that they had walked away satisfied. This creates trust in the prospect’s mind…it’s every bit as effective (if not more so) as the testimonials in your brochures.

After Closing

When you asked for a referral, you might have gotten one or two names. But this hardly taps into the circle of people you could reach through referrals. Experts say that people have an average of fifty contacts that they have direct influence over. The trick is to reach as many of them as possible.

You do this by showing your gratitude for the prospects your client had already referred. Even if the prospect never worked out, call the client and thank them. But when someone sends you a prospect that ends up as a new client, a more tangible form of appreciation is in order.

Gift certificates work great. The more thought you put into it, the better. If your client had just closed on a home improvement loan, a gift card to Home Depot is appropriate. It should reflect what you know about them. And send different gifts for each referral. Each gift you send will motivate the client to keep spreading your name.

Follow these simple guidelines, and your list of clients will continue to grow. And with each new client, you open the door to more referrals. And each of them bring referrals, and so on. This is definitely a source for business never to be ignored.

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