Companies know that it costs less to retain a current client than it is to obtain a new client.The same goes for referral partners! How do you help retain your current referral partner relationships? No really, I want to know! Here are some of my suggestions:
Your referral partners need to feel reciprocated, if you don't refer to them, why should they refer to you? Refer to your partners who refer to you.
They want to feel appreciated and thought of, so be sure to actively keep in contact with them, be genuinely interrested in their lives and offer them ways to grow their business that they may not have thought of.
Sue Woodard has suggested in the past that loan officers even suggest a tech upgrade if a Real Estate Agent is using an old phone, get them to switch to a smart phone and physically help them set the new phone up with their email etc. They will remember that kind gesture and will be so thankful for the hand holding. They will become more efficient, and able to refer you more loans.
I believe you need to reach out to your referral partners and meet with them on growing their business. If you help them grow their business, guess who has earned more referrals.
Another suggestion is checking out their website. Does their site look like it belongs in 1998? Does it rank high in browser searches? Of course, your website better be good too, before you start evaluating other's ;) My past blogs talk about search engine help, and referral partners on your website if you're interrested.
My point is, go above and beyond the monthly automated newsletter, the "just checking in to see if you have anything I can help with" email or the bi-monthly lunch. Actively think about, be concerned with, and help with growing your partner's business and it in turn will grow yours.
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