Do you obtain much of your business through referrals from
others-from people who know, trust, and like you?
Is your network of referral partners producing the number
of referrals you want?
Do you want to increase the size and quality of your
referral partner network?
Getting business by referral from other people is one of
the best ways to grow your business. If you want to earn
more business by referral, you have to be involved in a
referral partner network that is large enough so it can
provide you with a steady stream of new business. Referral
partners are people who are in touch with your prospective
clients on a regular basis.
If you want to earn more business by referral, you have to
be involved in a referral partner network that is large
enough so it can provide you with a steady stream of new
business. Referral partners are people who are in touch
with your prospective clients on a regular basis.
For example, if a business provides web site design
services to small business, their referral partners may
include graphic artists, copywriters, business coaches, etc.
Get the picture?
By actively seeking out referral partners, you will
increase your chances of developing relationships with
people who can refer business to you on a regular basis.
A network of 100 referral partners is usually large enough
to provide you with enough business. Yet, is not too large
that you can't handle staying in touch with them---perhaps
monthly with an eZine publication, or meeting them
quarterly for coffee or lunch.
Here are the 5 steps you can take to build your referral
partner list:
1. Think about who your potential client is, and brainstorm
what type of business services they need to operate their
business. This information will give you clues about what
other professional categories may be good referral
partners. Develop a list of 10 professional categories.
2. For each professional category you identified, actively
seek to make the acquaintance of 10 people. There's a good
chance you already know people in these occupations. If you
need more individuals to increase your list to 10, ask
current business associates if they know individuals they
would recommend. Then, ask them if they would introduce
these people to you.
3. Schedule a time to meet with your potential referral
partners. Meeting these individuals provides you an
opportunity to tell them about your products and services,
and their benefits. It also gives potential partners the
opportunity to tell you about their products and services,
as well.
At your meetings, provide prospective referral partners
specific details about your market niche so they will be
able to quickly identify if a prospect is right for your
business. For example, if you are seeking businesses that
generate $1M to $5M in revenues, and operate in the
metalworking industry, give your referral partner this
information.
4. When you meet someone who seems willing to send you
referrals, add their name to your referral partner list
until eventually you attain 10 people x 10 occupations =
100 referral partners
5. Once you have 100 names on your referral partner list,
and you've made acquaintances, develop your tactics for how
you will stay in touch and build relationships.
Some ideas about how to do this are; develop a tickler file
to remind you to contact and meet them, send out a monthly
eZine to keep your business top-of-mind, attend networking
functions they may attend, send greeting cards, or invite
them to a cocktail or holiday party. The methods you can
use to keep in touch are endless!
TIP: Contact your referral partners at least one time every
three months-once a month is even better!
Over time, you may find some people are not good referral
sources. Replace them on your list to keep it fresh.
----------------------------------------------------
Bonita L. Richter, MBA, founder of Profit Strategies,
http://www.profit-strategies.biz (for FREE tips on how to
craft the successful business you desire, visit
http://www.Profit-Strategies.biz ) teaches entrepreneurs
and business owners how to start and grow businesses,
attract more clients, and market their businesses to
increase sales, business success, and generate wealth.
No comments:
Post a Comment