Knowledgebase: Referral Marketing
Key Selling Points for New and Existing Referral Partners
Posted by Sam Harvison on 23 January 2025 02:28 PM

Building strong relationships with local professionals is key to increasing your word-of-mouth business. Many Loan Officers are comfortable asking for referrals from friends and family but may struggle with consistent referrals from other business professionals. This strategy helps change that by creating lasting, mutually beneficial partnerships.

Even if a referral partner brings just a few deals annually, they are still valuable. The goal is to build a network of professionals who actively refer business to you, positioning yourself as a key resource in the local community. The 220 Marketing system enables you to easily showcase these partners on your website, giving them visibility while reinforcing your role as a connector of valuable services.

Exclusive Value for Referral Partners

When discussing partnerships, focus on creating urgency and value without being pushy. Explain that:

Exclusivity: Your website space is limited, and you're only featuring high-quality partners who consistently refer business. This is an opportunity they don’t want to miss.

Tangible Support: You’re not just asking for referrals—you’re investing in their success by promoting them to your entire database (family, clients, prospects) at no cost.

Commitment: If a partner isn't referring consistently, you'll need to replace them with someone who can. This ensures you’re only working with serious, mutually beneficial partners.

Website Strategy for Multiple Partners

It's important to differentiate between partners to prevent overlap. For example:

Territory Specialization: When adding multiple professionals in the same category (e.g., real estate agents), assign them specific geographic areas. This way, they aren't competing directly, and you maintain the exclusive value of their listing on your site.

Clear Labeling: Use labels like “Territory Specialist” to show their expertise in specific areas, ensuring they stand out when clients visit your site.

Potential Referral Partners

Consider a wide range of partners, both traditional and outside-the-box. These include:

  • Real Estate Agents, Financial Planners, Home Inspectors
  • Appraisers, Title Companies, Attorneys
  • Insurance Agents, Moving Companies, Contractors
  • Personal Trainers, Tutors, Chefs, and many more

These partners can easily be found via local searches.

 

Focus on delivering value and creating exclusivity with your referral partners. Your goal is to build a network that benefits both sides, reinforcing your standing in the community and helping drive consistent business for both you and your partners.

 

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