Referral Marketing Strategies For Today's Competitive Marketplace

							Referral Marketing Strategies For
Today’s Competitive Marketplace
             Presented For:
     Western Independent Bankers
  The Goal Of This Presentation


  To motivate bank personnel to be
 more proactive, rather than passive
about generating referrals in addition
   to providing easy-to-implement
        behaviors guaranteed
        to increase referrals.
            Today’s Topics


• Understand the link between
one’s habit of thinking and the
number of referrals one receives


• Adopting an entirely new mindset
about how to generate referrals


• Improving the effectiveness of
  bank staff to ask for referrals
  proactively
Success Principles Covered Today

   1. Success Is Linked To Giving,
            Not Receiving



   2. Banking Relationships Can Be
  Created Anywhere and At Anytime!



   3. To Generate Quality Referrals…
               Just ASK!
 A Statement Of Fact




Most Lenders and Branch
Managers receive a small
percentage of the referrals
  that are possible on an
     annualized basis.
This Occurs Because Of Two
Limiting Habits Of Thought




    “The only time to ask for
referrals is when I close a deal or
do something for the customer.”
 “…our doubts are traitors, and
  make us lose the good we oft
might win by fearing to attempt.”




    - William Shakespeare
This Occurs Because Of Two
Limiting Habits Of Thought




“If I work hard for my customers
 and provide them with excellent
    service, they will naturally
   provide me with referrals.”
Approximately 80% of Bankers
    Receive Six Or Fewer
      Referrals a Year




   Isn’t it time to work a little
  smarter, rather than harder?
  To Triple The Number Of
Referrals Received…Just ASK!




           ATTITUDE
  To Triple The Number Of
Referrals Received…Just ASK!




           STRATEGIES

           ATTITUDE
  To Triple The Number Of
Referrals Received…Just ASK!




           KNOWLEDGE

           STRATEGIES

            ATTITUDE
    Success Principle #1
Success Is Linked To Giving,
       Not Receiving


                    It really
                  pays to be a
                   go-giver!
Embracing The “Go-Giver Mindset”




    “Give and you shall receive”


     “You reap what you sow”
Embracing The “Go-Giver Mindset”




  “What comes around goes around”


              Tithing
  Give and await a “10-fold blessing”
         Go Giver’s…




…are always offering assistance and
 useful information to colleagues,
  acquaintances and customers.
   What’s Useful Information?

Professional Referrals:         Community Referrals
Attorneys                                 Contractors
CPA’s                                 Car Salesperson
Financial Planners                      Travel Agents
Insurance Agents                 Health Organizations
Architects                      House/Yard Equipment
Recommendations For Children:       Real Estate Agents
Colleges / Schools                        Restaurants
Retailers                                   Vacations
Babysitters                                Automotive




 Any information that helps someone !
Generating Referrals is Easy
 When You Remember…
What’s Useful Information?

 “Thank You!”         “Thank You!”
  That’s very          That’s very
   helpful.”           helpful too.”




Any information that helps someone !
By Trying To Help Someone
 Satisfy A Need or Problem
Outside Of Banking Today…




They will remember and call you
  when they have a financial
      matter tomorrow!
  There Are Two
Primary Methods Of
     Achieving
   Differentiation
Strategic Differentiation
  “35,000 Foot Approach”




     Market focus

      Product mix

        Pricing
  Tactical Differentiation
  “In-The-Trenches Approach”




    By what we say and do

when interacting with customers
  Which Approach To
Differentiation Is Hardest
  To Replicate By Your
      Competitors?


 Strategic Differentiation
   “35,000 Foot Approach”


           OR

 Tactical Differentiation
 “In-The-Trenches Approach”
  Tactical Differentiation
  “In-The-Trenches Approach”




   Providing customers with a
memorable banking experience they
  won’t have with another bank.
         Being A Go-Giver




Provides customers with a memorable
banking experience they are not likely
     to have with another bank.
       Sample Conversations


“John, I know many professionals in town
as well as people who may have an interest
in your services. Is there anything I can do
to help your business become even more
successful?”



“Jane, you mentioned you were running a
little short handed last week. If you tell
me what you’re looking for, maybe I can
refer you to someone who can help.”
       Success Principle #2
Banking Relationships Can Be Created
     Anywhere and At Anytime!




     Everyone is important


    Networking and business
  development is not just a “9 to 5” activity
               Success Principle #2
  Banking Relationships Can Be Created
       Anywhere and At Anytime!



Non-Profit Boards              Children’s Sports Leagues

  Check-out lines                            Parties

Alumni Organizations
                                              Toast Masters

Business Seminars
                                             Health Clubs
Fund-raisers
                                             Volunteer work
Church/Temple

Sporting Events                            Cultural Events
                       Boy/Girls Scouts
             Remember…
You Never Know Who You’re Talking To


    1.   Be interested in others
    2.   Ask Questions
    3.   Always carry your bank’s
         business cards
    4.   Set monthly goals
         Success Principle #3


  To Generate Quality Referrals…
            Just ASK!


           A General “ASK”
“By the way Bill, our bank continues to grow
through referrals from our valued friends and
customers. If you know of anyone who might be
interested in banking with our bank, will you
please give me a call?”
          To Generate Quality
          Referrals…Just ASK!

              A Specific “ASK”

“By the way Bill, our bank is offering some really
great rates and terms on our business lines of credit.
If you know of business owners who might be
interested in expanding their business, will you
please give me a call?”
  To Triple The Number Of
   Referrals Your Receive




             Just Ask!
         Ask how you can help!

   Pick up the phone and ask for referrals

Over lunch with a customer, ask for referrals.
"I've missed more than 9000 shots in
    my career. I've lost almost 300
 games. 26 times, I've been trusted to
   take the game winning shot and
missed. I've failed over and over and
over again in my life. And that is why
              I succeed.“




          Michael Jordan (1963- )
     NBA basketball player, businessman
             Presentation Summary

1. By assisting people to solve
   issues outside of banking today:

      Increases the level and value of
   service you are providing


     Differentiates you from the
   competition

     You are offered assistance and
   referrals in return


2. To triple the number of referrals
you receive…Just ASK!
Thank You For Your
    Attention!