If you’re like most mortgage brokers, you’ll already know how important it is to establish great referral partnerships with professionals such as accountants, financial advisors and property managers. Making contact with these allied professionals is the first step; keeping them ticking away generating new leads requires more time and effort. To help you, here’s four ways you can build better relationships that go beyond just sending referrals.
- Keep partners in the loop
When you’re expanding your services or product offering beyond what you’re known for, be sure your referral partners are among the first to know. Keep them up to date on both your business and the bigger picture in the industry, including best practice approaches and new legislation that may affect their clients. When communicating with partners, be sure to remind them of the type of client you’re targeting and where your services are a good match.
Letting your referral partners know of changes to your business and the broader industry establishes you as an expert in their eyes, and keeps you front of mind.
- Educate your partners
Your referral partner must understand your business offerings so they can promote you more effectively. The good news is, there are many ways to convey information. For example:
- Videos and landing pages – Educational videos and special-purpose landing pages can help you educate referral partners and get them up to speed on your business quickly and easily.
- Information evenings – Hosting an evening packed with useful information for your partners and interested clients is a great way to establish credibility and trust in your business.
- Brochures – Brochures are a convenient way for your referral partner to talk about your business with prospective clients and give them something to take home.
- Make an introduction
Introducing your referral partners to other relevant professionals is a great way to promote organic growth without asking anything for yourself. This can be done by sending a friendly email explaining how establishing a relationship might benefit your partners and suggesting they get in touch, or by hosting a lunch or casual after-work catch up. Later on, you can follow up and find out if there has been any benefit to either partner.
- Show your appreciation
While often overlooked, saying “thanks” is one of the simplest ways to stay connected to your referral partners and let them know you care about them. While this can often take the form of a referral commission, there are other ways to show your appreciation, such as a handwritten card, gift certificate or a coupon for a service.
With a Nielsen report showing that 84% of consumers trust referrals from people they know, looking after your referral partners can help increase the number of valuable leads that come your way, boosting your bottom line in the process. For more information on how PLAN Australia can help you with growing your business, contact us today.