Referrals for realtors can help to promote companies or services and receive payments in return. Indians have embraced this strategy, with several well-known banks providing referral programmes. The IDFC FIRST Bank’s MyFIRST Partner Referral Programme, for example, allows consumers to earn over 100,000* a month by introducing personal loans to their friends and family. Let’s look at how company owners may create an efficient referral marketing plan and capitalise on chances through the MyFIRST Partner Programme.
What is a Referral Program?
Word of mouth is used for referral marketing. A current business client gets paid in a referral programme for referring a new customer to the firm. A programme like this is also known as a refer and earn programme since when a client invites a new customer, the former receives an incentive.
Depending on the nature of the business, referrals for realtors might vary. For example, in the case of the IDFC FIRST Bank’s MyFIRST Partner Programm, the referral programme can assist one in reaching out to a broader client base and assisting them in resolving their financial concerns by obtaining a personal loan from the IDFC FIRST Bank. In exchange, as a MyFIRST Partner, you will get 1.5% of the loan amount disbursed.
How Does a Referral Program Help Customers Build a Second Source of Income?
Referral marketing is a simple yet successful concept. Business leaders may use their network to suggest potential clients to items or services in which they have a fundamental belief. With a referral programme, IDFC FIRST Bank has taken this concept to the next level.
Through the app, referral partner program can suggest personal loans under this campaign. After generating a successful recommendation, referral partners might earn a sizable 1.5% reward in their bank account. This strategy generates a secondary stream of income and builds a sense of collaboration between the bank and its referral partners.
Advantages of Signing Up for the MyFIRST Partner Referral Program
The benefits of the referral program to boost your real estate business:
The App is Secure and Convenient to Use
The user-friendly app that supports the referral program is one of its main features. IDFC FIRST Bank created the referral partner app to provide a secure platform for referral partners to manage their referrals, track their profits, and access pertinent information. The security procedures secure sensitive customer information, which is critical for preserving trust and compliance. This degree of protection is critical today when data breaches and cyber dangers are on the rise.
Customer Queries are Resolved
Communication is essential in every business engagement, and IDFC FIRST Bank provides a simplified communication route with the MyFIRST Partner app. A referral program may respond to potential consumers’ questions and concerns immediately through the app. This functionality improves the customer experience and speeds up the sales process, leading to faster conversions. To provide effective client service while increasing their revenues, referral partners can contact relationship managers and IDFC FIRST Bank’s Central Helpline.
Customers Earn a Significant Side Income
Customers may earn more than a million rupees each month with a referral programme. After each successful recommendation, the bank transfers a 1.5% reward into the referral partner’s bank account. Individuals can make a significant side income by promoting referral app’s personal loans to friends, relatives, and acquaintances in this manner. The bigger the prospective earnings, the more referrals are made.
Referral partner marketing has emerged as a viable avenue for business owners to create additional revenue. Real estate executives may increase their performance by using tactics that improve interpersonal skills, selecting programmes with immediate remuneration, avoiding early financial commitments, and streamlining the onboarding process.