Everyone agrees that mortgage referrals are the most effective, and cost-effective, way to generate new clients, but asking for referrals can feel awkward, and most loan officers don’t even do it!. We know that you don’t want to come across as desperate or pushy, especially when you feel that asking for referrals may upset your client, which It does not if you ask the right way.
The only way you can grow and make more money is to increase your sales. It takes a lot of work to make a single sale. With all the time, effort and money involved, you’re always looking for a way to maximize your effort and expense so that you can grow your bottom line. No matter how long you’ve been in sales, you already know that getting a sale through cold calls is tough. It’s always easier when a friend or client recommends your products or services to someone else. This is one of the reasons why customer referrals matter and should be an integral part of your sales and marketing plan. Here are some more reasons to consider.
There is nothing better than being straight forward. Be direct and just ask your clients or prospect through an email, online, in-person or at the bottom of your post card. It’s not pushy or awkward if you’ve earned it by going above and beyond. Prepare your request before hand and practice on how you will ask, it will make a big difference in the respond.
Focus on Happy Clients
Instead of targeting all of your clients, focus your effort on the ones that you already have a good relationship with. They’ll be more likely to refer your products and services to others since they trust you, can vouch for your work or products, and have a chance to work with your side-by-side, as opposed to clients that you haven’t world with much.
Don’t just ask for referrals and at the same time to do not offer something for getting referrals, instead see what your clients interested in, and send them an article, a video or a post cart on the subject, and in the same place ask for a referral.
Recognize thank your referral sources
Whether it is a phone call, email, handwritten note or holiday card, encourages clients to refer others by showing you appreciate the chance to earn and keep their business. When they send a new client your way, thank them with a handwritten letter whenever possible.
Start asking before the deal is closed
There’s a misconception that you have to wait until a deal is closed for you to start asking for referrals. That couldn’t be further from the truth. If you and your client are excited about the start of a new loan, then share that infection with others. If they sent you some feedback halfway through, thank them for the input and remind them that if there is anyone else like them that could use your services to send them your way.
Make it personal
Instead of sending a broad and generic referral request to all of your contacts, send direct emails or phone calls that have a personalized message. If your client mentioned that they could use a graphic designer down the road, call that client and remind them that you offer graphic design services.
Create referral marketing materials
This could be anything from a business card, pamphlet, email templates or referral cards that include your logo and contact that “Referred by _________”. This makes it easier for clients to refer you since they only have to hand out or forward these marketing materials.
If you need help in creating in creating referral marketing materials for your mortgage marketing campaign, please contact us.
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