How to Train and Educate Your Team to Be Your Referral Champions

Credit unions are always on the lookout for new growth opportunities. One key area for growth is through merchant services referrals. But, to make the most of this opportunity, credit unions must invest in training and educating their employees to be referral champions.

Your employees are the frontline of your referral efforts. They are the ones who interact with your business members and can identify opportunities for merchant services. By investing in their training and education, you can ensure they are knowledgeable about your offerings and can effectively communicate their benefits to clients.

Here are some tips to train and educate your team to be your referral champions:

Partner with your merchant services provider
Your merchant services provider is your partner in this journey. Collaborate with them to create training materials and sessions for your team. They can provide valuable insights into the latest trends and best practices in the industry.

Set clear goals and expectations
Set clear referral goals and expectations for your team. This will help them focus on the right targets and be more accountable for their efforts. Communicate these goals regularly and provide ongoing feedback to keep them motivated.

Create an incentive program
Incentives are a great way to motivate your team and recognize their efforts. Create a referral program that rewards both the referrer and the referred member. This can include discounted rates, waived fees, or even cash rewards.

Provide ongoing training and support
Merchant services is a dynamic industry, and your team needs ongoing training and support to stay up-to-date. This can include regular training sessions, access to industry publications, and ongoing support from your merchant services provider.

Foster a culture of collaboration and accountability
Finally, foster a culture of collaboration and accountability within your team. Encourage them to share their successes and challenges, and create a supportive environment where they can learn from each other.

Investing in your team’s training and education is critical to maximizing your merchant services referrals. Collaborate with your merchant services provider, set clear goals and expectations, create an incentive program, provide ongoing training and support, and foster a culture of collaboration and accountability. With these steps in place, your team can become your referral champions and help your credit union achieve its growth goals.

To learn more about Payfirma and how we can be your credit union’s strategic partner, call us at 1-800-747-6883 or email us at [email protected].