“The way to a customer’s heart is much more than a loyalty program. Making customer evangelists is about creating experiences worth talking about.”

Valeria Maltoni

Any broking business should get some level of referrals, but if you want to maximise them you need to accept the concept I have raised before that the purpose of a business is to create customers who create new customers — and build that into every aspect of what you do.

There are seven practical things you need to achieve with every client if you want them to consistently refer their friends and family to you:

  • Attract clients through Educational Marketing that positions you as an Authority.
  • Make the process of getting a loan with you a great experience, provide some ‘wow’ moments.
  • Build a relationship as their Trusted Advisor.
  • Provide a great service and outcome in the eyes of your clients — make it fast and easy for them.
  • Have a system for making it clear and easy for your clients to recommend you.
  • Remind them in your Post Sales Marketing system.
  • Thank and congratulate them in a substantial and public way when they do refer.

On their own, any of these things will help, but if you can build all of them into your business you will give yourself the greatest chance of earning the confidence of your clients so they don’t think twice about putting their friends in your hands.

  • Attract clients through Educational Marketing that positions you as an Authority.

People like to work with someone who they believe is at the top of their industry. When it comes to referrals, there is nothing people like more than being able to say ‘Use my guy, he is the best in the business.’

When people work with someone who they see as The Authority in their field, they tell others. We’ve all heard it – ‘You need to go to my guy, he’s the top chiropractor in the state’, or ‘go to this place, they make the best hamburgers in town’.

It’s more than just a recommendation, it’s a boast. When people say things like this they are really talking about themselves – but you also benefit. And it’s a lot easier to get people to talk about themselves than talk about you.

“Profit in business comes from repeat customers; customers that boast about your product and service, and that bring friends with them.”Edwards Deming

Why? Because it is a reflection on them and their good judgement and that they have access to top people. Being able to say ‘My Mortgage Broker writes books about finance and home loans’ tells their friends they are moving in a more exclusive circle, they don’t accept any run- of-the-mill Mortgage Broker, they only deal with the best. And nor should their friends, not if they want to ‘keep up with the Joneses’.

By the way, this is even more the case with wealthy clients. They are more likely to expect to work with higher level providers of the services they need. That is another reason why the major banks have their ‘Private’ banking divisions, because affluent people expect to be dealing with the higher level bank staff, if for no other reason than simply out of respect for the larger value business and profits for the banks they know they are bringing to the table.

We know that proving you are an Authority increases your likelihood of winning clients in the first place. In exactly the same ways it increases the likelihood of you getting referrals from those clients. Being an Authority in their eyes makes them trust you, which gives you the greatest chance that they will trust their friends and family with you.