Building Referral Networks with the Sponsored Agents Program
Regardless of size, all factors and those engaged in alternative commercial finance strive to build networks of partners that can refer business their way. The most common source of referrals for factors is generally lending officers at local community banks as well as the occasional local accounting professional. But developing these networks and the relationships that ultimately lead to referrals takes time and patience and a key component of getting the most from such relations, product training, is almost always lacking. Factors offer exceptional compensation for quality referrals and would certainly receive more such referrals if partnering prospects they meet through networking had access to some training program, and specifically, a program that provided instruction on not only the factoring product itself and its many benefits, but also how to source qualified businesses in need of working capital that can lead to a referral (and commission). The good news is such a program actually exists right now at IACFB and it’s called the Sponsored Agents Program.
The Sponsored Agents Program at IACFB (International Association of Commercial Finance Brokers) is one of two specific broker training programs offered at the training Campus. The first is, of course, the popular Freelance Factoring Broker Program for independent, career-oriented individuals seeking a full time professional career in business development as a freelancer in the industry. The second, is IACFB’s Sponsored Agent Program.
What is Sponsored Agent?
Unlike IACFB’s expansive Freelance Consultant Program which trains individuals to be true independent industry consultants, the Sponsored Agents Program can be looked at as “Factoring Broker Lite”. It is a training program that employs IACFB’s Factoring 101 e-learning which specifically teaches enterprising individuals how to become an industry “referral partner” through lead-generation. In other words, Sponsored Agents focus only on generating leads for the BDOs (Business Development Officers) of their sponsoring factor to follow up on and close. Sponsored Agents have zero paperwork. They simply must be able to pre-qualify a lead for factoring through conversation while networking and then submit that lead for follow up and closing by their factor’s BDO.
Other features of Sponsored Agent include:
- Required Sponsor: All individuals entering this program are required to have a sponsor (factor) that they will work with exclusively.
- Comprehensive Factoring Training: Unlike the Freelance Program, Sponsored Agent focuses 100% of its training on factoring and lead-generation through networking.
- Free Program: IACFB’s Sponsored Agent has become the most popular method of entering the broker side of the factoring industry due to its LOW cost price of entry and its minimal low subscription of just $9.95 per month, which provides hosting for the program’s FREE lead-generating broker landing page
- Free Landing Page: A website or landing page is an essential tool for lead-generation and all IACFB Sponsored Agents are provided with a complimentary WordPress landing page with optional blog and lead-generating FREE booklet offers.
Building Referral Networks with Sponsored Agent
For factors, IACFB’s Sponsored Agents Program is a program that allows you to build expansive networks of referrers by offering a FREE factoring training course without the need to carve out the time and expense to actually develop an in-house broker training program yourself. With Sponsored Agent Training, you can attract hundreds, if not thousands, of referrers over time from the ranks of bookkeeping and accounting professionals, bank loan officers and employees, insurance professionals, and of course mobile creative entrepreneurs that have an interest in augmenting the income from their current profession with the factoring industry’s near-legendary commissions and referral fees generated from factoring referrals. And for factors, the process of setting up your own broker / referrer training program using Sponsored Agent as your program’s cornerstone could not be easier or less expensive. To do so, simply…
- Become an IACFB Member / Factor ($9.95 per month subscription plus annual domain ($15)
- Prior to checkout, from the Add-Ons elect Agent Program Sponsor ($349.95)
- Request IACFB staff to upload and activate your Factor Profile pages (FREE)
- Submit a Company Showcase at IACFB Magazine to attract new brokers and referrers to your network (FREE)
- Begin advertising your FREE factoring broker training program on LinkedIn, Facebook, Direct Mail Postcards, etc. to attract agents and new referrers.
IACFB staff sets up both your Factor Profile Page in your selected domain and edits all your information for your Company Showcase at IACFB Magazine. Additionally, you are provided a “PROMO CODE” which reduces the IACFB Factoring 101 Training Program to zero ($0) for members of your new referral network. Best of all, you have full control over the content of your Profile Page and can use it to launch attention-getting broker promotions, contests, alerts, or anything else to assist in keeping your new agent / referrer network engaged in the referral opportunity and sending your BDOs an endless stream of leads and prospects.
Find Out More
If you’re a factor whose business development officers could benefit from a robust, unlimited supply of qualified leads to work on, it may be time to invest in developing a dedicated referrer training program with the help of IACFB and its Sponsored Agents Program. And, you can find out more with step-by-step instructions and get all the details by simply signing up with the association as a Member/Factor. Click here or the button below.