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Unlocking Opportunities: Marketing to Referrals in Times of Slow Business

There’s No Better Time than Now

When business is slow, the last thing you should do is remain stagnant. Times like these are the perfect opportunity to actively nurture relationships within your existing network, which will generate referrals and create a pipeline of new business.

Become an Expert

The first thing I suggest you do is to become an expert in your field. Clients and referral partners will have questions, and you want to be the person they come to for advice. Make it a point to access materials available within the industry that will allow you to articulate the state of the market clearly. Then it’s time to study up.

Learn to Educate

If answering your client’s questions provides certain value, teaching them the answers before they ask the questions takes that value to another level. Empower your clients. Be proactive and practice outreach when it comes to disseminating information. In the long run, your client will feel more a part of the process. They’ll be more apt to work with you and recommend you to others continually.

Be Your Authentic Self

Just as it’s important to be authentic when building trust with your team, it’s equally as important when pursuing it with clients and referral partners. Your authentic self will show up eventually, so being less than genuine at any point only leads to distrust. Build that trust by always portraying yourself honestly.

Initiate Reciprocity

Giving and receiving are no different than breathing. You can’t only breathe in or only breathe out. Each act begets the other. The giving part doesn’t always involve spending money. It could mean offering a book or podcast recommendation to your client. Or maybe letting them in on one of your favorite life hacks. Whatever the case, initiate the giving. All that’s left to do is to allow yourself to receive.

Doing Business is a Visual Medium

People enjoy making connections, and it’s safe to say that it’s easier for people to connect with you when they know what you look like or can look you in the eye. Emails are great for sharing information, but they’re made better when they’re accompanied by a short video message. We all have smartphones, so there’s no excuse. Turn that phone around, press record, and make that connection.

These are just a few examples of how you can effectively use this down market as a time to strengthen the bonds with the people in your database and any new connections you make.

With the intention of guiding you to peak performance we have created The Loan Atlas, the Home of The 8 Disciplines of Origination Mastery:
A Decades-Proven Formula for Loan Professionals to Thrive Amid Market Changes.

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