Best Medicine for Retention

Everyone is always curious on how we can retain our referral partners.

Let us look into some important considerations.

If we have just formed a company or started a business, how long do we intend to run the business?

We will always set a goal, or targeted revenue that we would want to achieve in the business. What if we do not achieve the target within a year? What do we do?

Are we leaving the company or the business after a year?

Most of us will answer "No".

If we are not achieving what we want to achieve in the company or business, are we leaving the company? Are we going to do something to improve the business?

Furthermore, ask yourself another question.

Are we going to leave the company that we have invested our effort and resources in training the sales team?

Are we going to let the sales team leave our company without spending any effort in retaining them just because they perform moderate results?

How much do we need to spend to train a new sales or marketing team just because we could not retain our existing trained team?

Based on the questions above, it is easy to see that an ordinary business person will not give up easily on the business that they have started. Just because the return of the investment is not realized in a short time does not mean that the investment has failed. We know that nothing comes easily and fast. It takes time to build trust.

Our chapter is just like our group of large marketing team. The referral partners are there to help each other to grow their business. We have spent our time and effort in educating our referral partners to generate referrals for us. If we do not spend any effort in retaining the members, we may need to spend more time and effort in training new referral partners.

As a sound business person, we do not give up our business easily just because we don't perform the results that we are expecting. We cannot control the results or the number of referrals that our referral partners generate, but we are in control of the process of generating referrals.

It is for us to educate our referral partners on the importance of staying together as a team to ensure long lasting and meaningful relationships. By having good retention in our chapter, we can ensure there will be a continuous source of referrals.

Start growing the number of referrals by going through the right process.

Start growing the number of referral partners by having the right team.

Start growing the number of closing businesses by giving good and quality referrals.

Start growing the number of referral partners by setting the right culture and doing business through meaningful relationships.

"Growth" is always the best medicine for retention.