It has been demonstrated time and time again that credit repair companies who cultivate great relationships with their affiliate partners have the most success. Affiliates, in this case, may include auto dealers, realtors, mortgage brokers, loan officers, CPA’s, independent tax preparers, attorneys, insurance agents and other companies that provide financing to customers. In most of these industries there is an approval and denial process, which provides an opportunity for people who are rejected to take advantage of credit repair services. It can be difficult to build relationships with these partners when they don’t see how your partnership can help grow their bottom line. By following the steps outlined below you can create lasting relationships with your partners and watch both of your businesses grow.
- Understand their industry: Many affiliate partners only get commission on approved applications. It is easy to see why they would not want to take the time to refer people that will not add to their compensation. Therefore it is important to help these partners see the long-term benefits of your relationship. Make sure to connect customers back to your partners once they are able to get approval. When your partner sees that the business comes back around, they will be rushing to send more referrals your way!
- Think of affiliates as customers: Many credit repair companies focus on the benefit they provide to end users, and not enough on the benefit they can potentially provide to affiliate partners. Think of yourself not only as a credit repair company, but also as a marketing and sales resource for your affiliates. When you build a high level of trust with a client, you are also helping to build trust between that customer and your affiliate partner.
- Co-brand: Co-brand with your affiliates on communications with customers, where possible and create a high level of engagement with both customers and partners. For example, on Credit Repair Cloud’s client portal home page you have the opportunity to list your affiliate partner alongside yourself as a primary contact. This will demonstrate to your customers that you and your partner represent a united front. When they are able to reach approval status, they will automatically think to return to your affiliate for the next step.
- Act as a trusted advisor: Affiliates do not want to have to turn clients down. Clients are ready and willing to make purchases, but need help in order to do so. Think of yourself as an advisor to your affiliates to help customers get to a place where they are able to close the deal. Since you’re acting as an advisor while giving awesome customer service, that will build trust and word of mouth, as each client becomes an ambassador for your business and your affiliate’s business.
- Use the affiliate tools in your Credit Repair Cloud: Credit Repair Cloud can help you provide additional value to your affiliate partners through the Client portal. Some examples of how to best utilize the portal include: Direct affiliates to the “Credit Info” and “Resources” pages for educational materials. The more educated your affiliate partners are about credit repair, the better able they will be to support rejected clients as they convert to active clients. Your educational resources can help expand your affiliates’ spheres of influence and grow their business. List your affiliate partner in your “Resources” page. Your affiliate partner is a valuable resource for the clients that gain approval status and should be treated as such. Where possible, add your affiliate partner to you “Resources” page to provide another touch point for clients.
Once your affiliate partners see that you are able to add value to their day-to-day operations and their bottom line, you will be able to build strong relationships with each other and with clients and that’s when your revenue will begin to snowball.