Program to Solicit Referrals Generates Over $250 Million in New Business and 8:1 ROI for a Regional Bank

July 14, 2016

Incentive Program Wins Rave Reviews and National Recognition

 

Many companies tap into their existing customer base to uncover a wealth of information and new business opportunities. But it’s not just Big Data; it can also work on a local level. A business advisory council—a customer-based team of regional business leaders - can provide valuable insights into the needs of the community, act as brand ambassadors, and generate revenue in the form of new business referrals.

The benefits of utilizing a well-managed advisory board are clear, but how do you direct and motivate council members—non-employee stakeholders who have their own business challenges and busy lives—to maintain a steady focus on YOUR business? This case study shows how one of our clients created a community-based Business Leaders Council to generate referrals and drive new business.

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