How to Build Your Business Referral System!
When asked the question, “What’s the number one way you get new business?” most businesswomen say “referrals” or “networking” and yet most businesswomen don’t have a referral system that they manage and are consistent with.
Below are 5 steps to building a consistent business referral system.
Step #1: Research and Identify Your Target Referral Market
Create a list of professionals, companies, and individuals that can be motivated to refer customers to you.
Step # 2: Create Your Ideal Client Profile
In order to receive the right type of referral, it will be important to know exactly the type of clients that you want and then be able to educate your referrers with this information.
Step # 3: Create Your Core Referral Infomercial
When talking with a potential referrer it’s important to quickly deliver a well-thought-out infomercial on how you can benefit anyone that they refer to you. (Note: You should be able to say this in 30 seconds or less). After an initial introduction, you can then schedule a connection meeting to share how you can help one another. Be prepared to
Step # 4: Reward Your Referrers
Money is not the only thing you can or should reward your referrers with. Most marketing experts agree that referrers often refer because they trust you and have experienced your product or service and a relationship has been established. Organic referrals without the incentive of money will always be the best type of referrals.
So, what’s the best type of reward? Gift certificates, movie tickets, recognition, deep discounts off of your service/products, free service or products etc.
Step # 5: Create Your Referral Follow Up Process!!
Referral conversion is the name of the game with this whole process. It’s important to know that just because someone is referred to you, it doesn’t mean that they are a committed client!! YOU are responsible for establishing a relationship with the referral and CLOSING THE SALE!
So, your referral process should include 2 important steps:
- A way to consistently communicate with referrals that you have not closed the sale with
- A way to keep the referrer informed of how things are going with the person they referred. Note: there’s no need to burden or overly communicate about this, but it’s a good thing to let them know and especially when you’ve closed the sale. A thank you card with a reward should immediately be sent to them along with a phone call.
Create Your Referral Follow Up Process!!
Referral conversion is the name of the game with this whole process. It’s important to know that just because someone is referred to you, it doesn’t mean that they are a committed client!! YOU are responsible for establishing a relationship with the referral and CLOSING THE SALE!
So, your referral process should include 2 important steps: 1) a way to consistently communicate with referrals that you have not closed the sale with and 2) a way to keep the referrer informed of how things are going with the person they referred.
NOTE: There’s no need to burden or overly communicate about this, but it’s a good thing to let them know and especially when you’ve closed the sale. A thank you card with a reward should immediately be sent to them along with a follow-up phone call.