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Recovering Success
Recovering Success

Season 1, Episode 58 · 1 year ago

Does your referral program swing both ways?

ABOUT THIS EPISODE

It is time to amp up your referral program!

Good afternoon, folks, Tom Hampton here. Well, falls in the air and there's a lot of changes going on. The subject today is going to be your referral program and I have an unusual question. Does your referral programs swinging both ways? Look, folks, referrals are gold and we know that we've got to make it easy for the customer to refer us. We have to have a system in place where they can make that referral, either online or you can go little old school, a business card with a line on the bank referred by. Any way you want to do it. There's a lot of ways to get it done, but the key is the program itself. Okay, right now we are having a heck of a challenge all of us finding inventory for a fair price. I think most of us are getting ...

...tired to seeing retail go across the block. Well, what if you're refer program also offered a nice referral fee for either a customer that comes in and purchases one of your fine vehicles or somebody that comes in and sells you their find vehicle? Either way you're going to come out of here, and this way you've got your customers swinging the bad both ways. Everybody knows someone that's got a car they're ready to get rid of and with a holiday seasons coming on, some people are going to buy it off a little more they can chew or with Covid it's going to be necessary to get rid of that second vehicle so that they can fix some bills and feed your kids. So there's we'll be able to help some folks out. It's up to you. The real key to your referral program is make the dollar amount decent. Highly suggests two hundred and fifty dollars. Either way you send me a buying customer or you send me a good car, I'll pay you to fifty either way.

How I'm going to pay that money? Here's the rules. I have to know that person's coming in either to tell me a car or to buying car. Are I got another coming in? Who they're coming from? Once it's done, I'm going to go down and purchase a visa peet visa prepaid card and put two hundred and fifty on it and a nice thank you card and I'm going to put that in the mail. Now. Let Me Tell You, folks, it's going to carry a lot of weight. And go a long way. Sometimes old school is the best and you can certainly learn some great lessons from the past. And right now people are starving for that personal touch and they're looking for all kinds of ways to get some extra income into their house. Imagine if you had somebody referring three a month to you. That's seven hundred and fifty dollars a month extra in their income. They're happy, you're happy. It's a win win. So referral programs. It is time to make sure they are loaded for bear good actor and create a great...

...day. This is Dom Ham's good afternoon, folks. Tom Hampton here well.

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