JV referral Tips

An Easy Referral TIP

     Before I get into the details of this tip it is imperative that you not only keep an open mind to this idea but also think about the underlying issue and sense of working relationships with your competitors.

     Here’s how the idea works

     First, you should always have a cordial, professional, friendship with your competitors.

     I define competitors as competing funeral homes and cemeteries.  Even though there may be some competition there also may be some opportunities to do business together.

Example Number One

            I’m dual licensed to sell pre-arrangements for both funeral and cemetery.  I spoke about dual licensing in a previous post. 

     When families pre-plan the optimum position to be in is dual licensed to get both halves of the pie; pre-need cemetery and pre-need funeral.

     The reason I mention this is because as if you work for a stand-a-lone cemetery you offer no competition to local funeral homes.  If you work at a standalone funeral home you offer no competition for a cemetery.  A combo (funeral home/cemetery) would be looked at differently.

     One deal you can do is to make a deal with several local mortuaries so when you follow-up with the at-need family whose loved one is buried at the cemetery you can bring in your competitor from the funeral home with a joint venture.

     Here’s the lesson

     When the pre-need funeral from the competing mortuary writes the business you get credit for the referral.  You also introduce resprosity.  Your JV will work the other way with the funeral home referring back to you.

     Here are a few suggestions for you:  If you are only able to get one license make a deal with a pre-need seller that is licensed where you aren’t.  Exchange referrals; you send him some, he sends you others.

Example Number Two

     If you are at a cemetery and you see at-need families or follow-up with at-need families either cut a deal with the original funeral home that did the case to write the pre-need funeral yourself or refer the business to the original funeral home.

     If you work at a funeral home reverse the process and cut the deal with the cemetery for follow-up business. 

Here’s the lesson

     Most Memorial Counselors do not follow up with at-need families.  If you just follow up you’ll not only pick up some pre-need business (even by accident) but you’ll also pick up referrals.

     You’d be surprised at the situations you’ll find yourself in.  Many times a surviving spouse will want sons or daughters present during the meeting.

     I can tell you that the sons and daughters will want mom or dad to complete arrangements so they do not have to go through the ordeal again.

     Many times you’ll capture pre-need for the son and/or daughter.

Start at the top to make a deal

     These deals can be made with the Mortuary/Cemetery Manager.  Start at the top!  Nobody wants to turn down business.  You’ll be pleasantly surprised at the positive responses you’ll get from your NEW FRIENDS (so called competitors).

     As you open your mind to a working relationship with your competitors, you’ll discover that there really isn’t competition.  Just a friendly working relationship. 

     A side benefit is you’ll get to know other people inside your industry.

     You never know when a contact might be able to help you or the reverse.

Happy Selling! 

David…

P.S.  Networking with your competitors can create lucrative opportunities.  Your competitors and YOU can turn competition into win/win situations.

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