Referral marketing is a great leveraged way to generate qualified leads for your business. With referral partners being your eyes and ears to opportunity you can multiply the number of leads coming into your business. Referral marketing is only as effective as your referral relationships are strong and enduring. Here are 7 ways to maximize the yield from your referral relationships:
- Get to really know each other… Know, Like and Trust.
Do you generally like this person? Will you enjoy interacting with them? Would you do business with this person? Do you feel comfortable sending people their way?
- Provide value before trying to get referrals.
Your first goal with a potential Referral Partner is to provide value. Look for ways to contribute with resources, idea, introductions.
- Have a clear, concise way to explain the benefits of your uniqueness.
Your Referral Partners will want to know how you, your processes, and your products or services differ or stand out … how that difference creates benefits for your clients.
- Determine your Referral Partner’s ideal customer.
Be sure to get crystal clear on who makes a good prospect for them and for you — who they and you serve the best. Ideal customer. Know how to recognize a great fit.
- Make sure you are referable.
One of the most effective ways to become referable in the eyes of a potential Referral Partner is to walk them through your full value proposition, your process and how you deliver value to your clients.
- Get clear on how each of you want to be introduced to ideal prospects.
Never assume a Referral Partners knows how you like to be connected with your new prospects. You want to be introduced in a certain way.
- Provide regular feedback
Productive Referral Partnerships require ongoing communication. You want to make sure you are meeting each other’s expectations for the relationship.
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