Do you know what the least expensive AND most effective way to grow a business is? It’s referrals. In this edition of the Independence, we sat down with Gary Weckwerth, who joined Dakotaland’s Watertown Branch in November of 2018. He’s built many different types of businesses in his career and they all have one thing in common…customers.
INDEPENDENCE: Gary, I think we can all assume what a referral is, so why did you want to talk about its importance when it comes to Dakotaland and specifically the mortgage area you work in?
G. WECKWERTH: While referrals are the life blood of existence for any business. We need the members to talk well of us to their friends. We can spend thousands and thousands of dollars in traditional marketing platforms, but that’s just one piece of the overall plan. Referrals are based on an emotional connection and if someone has a great experience, we hope they will tell two friends…and so on, and so on.
INDEPENDENCE: Is that the only way to generate referrals?
G. WECKWERTH: No, there are all kinds of processes businesses use to create and implement to generate referrals, but I’m going to be old–fashioned and simple here by saying the best way to generate referrals is to “kill them with kindness.” That is, sincerely taking care of your members.
INDEPENDENCE: That sounds too simple…
G. WECKWERTH: I agree, but many times we over think things and make it too complicated. I’ve worked for only one other company in my career (not counting the ones I owned and managed) that believed happy employees equals happy customers. At Dakotaland, we have a lot of happy employees. You can tell by the longevity of many employees. That “killer–kindness” culture is alive and well at Dakotaland Federal Credit Union.
INDEPENDENCE: Talk about how referrals impact the mortgage department you are building in Watertown.
G. WECKWERTH: While we are building Dakotaland Federal Credit Union and all its services, the mortgage area is a little more complex. In most communities there are long-time mortgage lender/realtor relationships and friendships along with well–established services, so coming in new and offering a new choice for mortgage services takes patience and time. We need to earn the trust and confidence of the community we serve. So far, we’ve been fortunate to have earned that trust with a handful of area realtors and home builders that are now referring their clients to us.
INDEPENDENCE: Can our existing members help?
G. WECKWERTH: By all means! As Dakotaland Federal Credit Union grows we need all existing members to help. Being member–owned benefits everyone. For us to continue to offer great service and products it’s imperative that our membership helps tell our story and refers new members. In my opinion, membership carries a lot more responsibility than being just a customer.
Members, if you know someone looking to buy or build a new house, or is considering refinancing, debt consolidation or just wants information, refer them to any Dakotaland Federal Credit Union mortgage loan officer. Anyone can apply online at DakotalandFCU.com. You don’t need to be a member to meet with us.
