Referrals. Grow. Business.
When you look at all the ways a business can grow, and there are a lot of them, quality referrals lead the way.
Let's look at some of the reasons why that is.
A well thought out referral marketing program puts you in front of the exact prospects you need. When your program is spelled out clearly in terms of your target client and how you will remunerate those who give you the referrals, business growth can be put on auto pilot. Well, as long as you communicate that message to enough people, of course.
Referrals often come from previous clients. If you are not tapping into folks who can speak about the quality of work you have done for them, you are missing out (a quick aside, not a good idea to ask clients who were disappointed with your results for referrals).
Finding business partners who are selling to your ideal customer is a great way to get referrals. Who is upstream or downstream from you in the sales process?
Referrals should be coming from your network. You built it, you nurture it, you give to it, your network should be giving to you too.
Lastly, referrals actually lower the COA (cost of acquisition) for most sales. Strong referral programs that continually produce results actually lower the number of salespeople a company needs (sorry salespeople, if you're good, they can never replace you).
Motorcityconnect.com is ideally suited to help you reach your business goals. You have an attentive audience of almost 1500 business professionals (90% of whom live/work within 45 minutes of you). It really only works though when you tell us how to help you. So to that end, please visit our ASK discussion board and tell us specifically what we can do for you today.
Be Networked-
Terry
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Terry,
Excellent post. I encourage all MCC members to implement this suggestion. It's a win/win for all parties.
Terry, Great post. Keep on teaching us how to network well.
Brian, I think it's a Win/Win/Win
The referrer wins, the one referred wins, and the one referred to wins
Ben Rosenzweig
Very nice post. Useful info and to the point.There is so much truth to it. Our majority of business leads definitely come from referrals.
One, we definitely deliver quality solution and two we keep the relationship with our existing clientele periodically and not just "fill it, shut it , forget it" style... I encourage and second with Terry that dont forget your existing/pas clients.
Henry Joshua
.DotSign
www.dot-sign.com
Great post, Terry! You are MCC's Master Teacher!
Staying in touch with past clients is critical for the health and sustainability of most businesses. One great way I've found to keep the channels open is to invite my past (and current) clients to participate in MCC and LinkedIn, That in itself is a "referral" that helps further their business, and allows for continued, easy contact through discussions, events, and mutual recommendations.
Linda
I also agree! I like the part about how close we all live to each other.... We need to utilize this!
Brian Franke