Developing a Realtor Referral Marketing plan for a Mortgage Company

Executive Summary

Realtor referral marketing for a mortgage company is pivotal for its profitable business operation in this global village. It will accelerate its business growth within existing business ambience and gain a competitive advantage. Different steps are thoroughly discussed in the Realtor Referral Marketing plan for a Mortgage company; by following these steps a company can execute this system. The plans include different strategies for proper implementation of this system; it is also based on value added customer relationships management as well as some other referrals system. Each step of the plan is discussed thoroughly, for the effective execution within the company.

Executive Summary2

Introduction4

Marketing Plan4

Marketing Goal of Realtor Referral System5

Target Market Identification and Analysis for Referral System5

Marketing Strategies6

Identify Qualified Referral Sources6

Create a Database for Referral Sources6

Organization of Contacts each Day6

Develop a long-term Approach based on Customer Relationships7

Focusing on the Needs and Motives of Referrals/Sources7

Establishing an Industry Group7

Utmost care of Referral Sources8

Evaluation of Strategies8

Budget8

Implementation8

Recommendation9

References10

Developing a Realtor Referral Marketing plan for a Mortgage Company

Introduction

Referral is a budding trend in the Mortgage companies that enable such companies for effective business operations. Marketing through realtor referrals is crucial for maximum profitability of a Mortgage Company. The mortgage companies have to gain the trust of the people because it involves in huge amounts of money (SECP, 2013). The realtor referral marketing is a system that helps to develop connections to different clients through its existing clients or other ways. Most of companies around the world are focusing on the referrals which are involved in the service oriented business or some another economic activity.

Marketing through referrals gives more rewarding result, and good referral program can save your time and enriches your relationships by reducing marketing cost. The faithful customer is the best source of referral and very powerful tactic of generating large profits (Marketing Best Practices Inc., n.d)

Realtor referral marketing program for Mortgage Company will accelerate its growth and customers by leaps and bounds. Additionally, this will enhance the profitability of the company due to strong referrals as well as it will add up a competitive advantage in the business environment. Proper planning is also needed to execute this program into the company, and its proper evaluation in each step helps management to implement it readily.

Marketing Plan

Realtor referral marketing plan development depends upon the nature of the company of mortgage. For a small company, we have to follow certain steps to execute the plan.

The given steps are organized to develop Realtor Referral Marketing plan of a Mortgage Company.

Marketing Goal of Realtor Referral System

There should be a proper goal behind developing such system in to the company. The very first goal is to develop personal relations to the realtors in order to attract customers. Realtor can help you to promote your business because their business involved more flow of customers. Their referral of your company to the customers can give you more rewarding results. The goals should be specified and achievable (Marcia, ...