Thank You For Closed Business Reminders in App, Connect, and Email
Let's systematize the solution for underreported Thank You For Closed Business!
This would help dramatically improve proper reporting of Thank You For Closed Business, which has long been grossly underreported .
The solution could be found in a series of system "reminders” or “wizards” when getting referrals and seeing them all the way through to a final disposition of Closed Business or No Closed Business. Here’s what it might look like:
1. Referral is received by member
2. Receiving Member is alerted of referral by Email AND App Alert (email part works now)
3. Receiving Member has 24 hours to respond to the alert or another system reminder is sent to remind the member of the referral
4. Upon taking action on the alert, the app or bniconnect.com presents a “wizard” type function.
5. The member then provides a status update, such as “Followed Up / Still In Process," or "Remind Me Again Later," or "Closed Business," etc. Suggestion: This can only be delayed once by using "Remind Me Again Later" requiring some type of disposition update the second time.
6. When member has followed up, closed on the business, or received a final "no thank you" a wizard presents another status update where the options are "Closed Business" or "No Closed Business” (or something to that effect)
7. If member chooses “No Closed Business,", he writes a description of the what the customer told him (not ready, no answer, etc.) If member chooses “Closed Business” then wizard presents “ $ for TYFCB” and the member then enters dollar amount for TYFCB.
In both cases, referring member will get a response back on what happened with the referral he turned in.
Doing something like this will allow for better reporting of TYFCB as well as remind folks to follow up on referrals and TYFCB. Most people don't enter TYFCB because they forget to. Having this automated and presenting members with a "wizard" to update the status of the referrals they have received will dramatically improve proper reporting of Closed Business.
Also, this info could be added to reports so that analytics could be provided on how fast referrals are followed up on, how many referrals are turned into business, etc.
-
Official comment
Thank you so much for the detail. Finding an acceptable way to do referral tracking and TYFCB recognition is high on our list and we will add this detail to the discussion. Have a great weekend!
-
Brilliant idea. It is very difficult when your refferal partners forget to submit the TUFCB. It has a ripple effect on on so many levels
0 -
I vote yes to do something like this please. It is good for all parties involved to be reminded what is out there and to then give credit for the sale boost chapter morale. It is a motivator to set goals based on TYFCB as well, which will spur members to do even better giving out referrals that lead to closed business.
1 -
Yes!!!
0 -
I love it - as I had been thinking along the same lines. Tracking referrals from inception through TYFCB (or perhaps not TYFCB) is the best way to ensure that all TYFCB is recorded. It also could track conversion rate and other useful data.
0 -
I think this is a great suggestion. The only down-side I see to this (and this may simply be a non-factor) is that sometimes referrals take time to become closed business. For instance, one member of my group was consistently asking to meet members of another profession from which they might receive referrals. I met and invited one such person to a meeting and counted it as a referral. The person chose not to join our chapter, but did exchange contact information with the Member for whom I invited her.
Fast forward to just over a year later, the guest I had invited referred business to our chapter member ... which, technically counts as TYFCB. With this process in place as described, the Member -- having been reminded to respond to the referral a year ago -- would have likely responded with “No Closed Business." So, in this case, there would be no reminder to enter TYFCB ... but that does NOT invalidate this suggestion as a solid suggested improvement, it merely points out that it will only work (as designed) for those referrals that turn into closed business relatively "soon" following the referral.
Perhaps an additional status could be chosen by the recipient of the referral ("Potential Future Business"), and the member could run a report that showed ALL referrals in this status for those cases in which a member closes business with someone, and ponders "I think that person was referred to me by a Chapter Member .... who was it?"
Again, it would be very difficult to continually remind members about referrals that close -- but don't close right away -- but this could help capture at least some of them.
For those interested in another suggestion designed to improve TYFCB reporting, please see my post here: https://support.bniconnect.com/hc/en-us/community/posts/115001745032-Thank-you-for-the-business?page=1#community_comment_360014892892
0
Please sign in to leave a comment.
Comments
6 comments