REFERRAL TRACKING: IMPROVE & TRACK THE PROCESS
Improve the referral process and track prospects.
The $482 million financial institution had a very generous incentive program, but employees were reluctant to submit referrals because of a system that was slow and cumbersome.
Marquis ReferralTrax was implemented, allowing employees to enter referrals in less than 30 seconds. The system offers a popup in the front-end and gives “instant gratification” with its daily updates. Managers are also able to track prospective customers and schedule follow-up.
Closed (or sold) referrals increased by about 44%. Employee satisfaction has improved, as they get their incentives every pay period and the results of their efforts are clearly visible every day. Household profits are up 4.96%, total accounts are up 3.12%, and the average number of unique products/services per household increased by 10.20%.