Waypoint Offers Referral Program Services


DALLASDec. 29, 2017 /PRNewswire/ — Waypoint Consulting Services, the Dallas-based firm active in the financial services, healthcare, and energy sectors, offers consulting services to energize financial institutions’ cross-silo referral programs.  While most institutions sponsor such programs, Waypoint observes that few maximize their referral opportunities and thereby forego tremendous benefits.

Mark Renfro, managing partner, says, “Customers welcome an apt referral because it means they are getting needed help from a place they trust.  It deepens their loyalty to you.  The bankers involved enjoy their jobs more when they get to know and work with colleagues in other areas – when they can refer to ‘Trina’ instead of the anonymous ‘Business Bank.’  It’s an inexpensive way to align your sales focus with your relationship strategy.”

The Waypoint Referral Program services address six essentials of an effective referral program:

  1. Focus on customer needs, not sales. Never make it about sales – keep it about helping the customer.  If the focus shifts to sales – if the stories are about great deals closed rather than customers helped – both customer and staff satisfaction diminishes.
  2. Earn executive support.  To ensure vital executive support, feed executives the data and stories they need.  Give them a steady stream of positive customer referrals, but also don’t hesitate to let them know who is not working the program and how they can change the situation.
  3. Design teams and scorekeeping carefully.  You want to stimulate competition between geographical markets, not between lines of business, and you want to ensure quality referrals, not just activity that helps no one.  Take the time to write your rules and then don’t be afraid to adapt as you learn and as events indicate.
  4. Tailor reports for every audience.  Executives want the big picture, directors want to know whom to coach on what, and the line wants to know what closed and if their referrals are working.  Make everything transparent, discuss results frequently, and give plenty of credit for early efforts.  Like any other new skill, it takes time.
  5. Build a knowledge repository.  Start small but build fast.  Start with the reports and the teams, and then as you go add the rules, contacts, incentive plans, training, probing questions, sample language, customer stories.  Just keep adding good ideas and resources as they arise.
  6. Communicate and recognize. Repeat.  Share results weekly.  Call out the top performers. It is a great litmus test for leadership.

About Waypoint
Waypoint is a consulting services company formed by partners deeply experienced across industries and geographies to advise leaders on strategy and business transformation, M&A, growth and client life cycle, risk and regulatory compliance, cybersecurity, data security and privacy, information technology and operations.  The company is based in Dallas, Texaswww.trustwaypoint.com

Waypoint Contact:  Mark Renfro, managing partner, Waypoint Consulting Services, mrenfro@trustwaypoint.com  972-322-8863

Media Contact: Ann Cain, Waypoint Communications, 214-632-3300


SOURCE Waypoint Consulting Services