In his book Endless Referrals, Bob Burg said, “All things being equal, people do business with and refer business to, people they know, like and trust.” That is the exact reason you need to make your business easy for those who already know, like, and trust you to refer you. In today's post, we are talking about how you can acquire powerful business referrals consistently.
Businesses with a successful referral program understand that they have to make it easy for others to refer them. That means teaching your referral partners exactly what to do, when to do it and how to do it.
Business Referrals Strategies
1: Get Clear on Who You Want to be Referred to
Do you ever wonder why your customers, who say they love you, don't seem to be referring you? Or if they are, the business referrals aren't the right fit. As business owners, we sometimes don't realize that they don't know what we are looking for.
It would help if you told them exactly who you are looking for. Let's say you own an independent insurance agency, and although you can write all kinds of insurance, commercial insurance brings you the biggest margins. You might ask your clients to refer you to their friends who own a plumbing company with 5 or more company trucks and 10 or more employees. Never leave it to them to figure out who you are looking for.
2: Tell Them How to Refer You
We leave nothing to their imagination. If you want a 3-way email introduction, tell them. If you want a text message or phone call, tell them.
3: Make it Easy for Them to Refer You
Sometimes the person they want to refer will not be ready to talk to you. That is usually because they do not want to be “sold.” Create something of value for them to share with the person they want to refer. With one pool company I was working with, we created a CD that answered the 10 most asked questions about installing a pool. Then we gave those CD's to customers and asked them to share them with their friends who were thinking about buying pools.
On my website, I have a business assessment that shows businesses how they score on the 8 areas that determine value. I tell my referral partners that they can send their referral this link – https://DecisiveMinds.com/businessevaluation
4: Follow Up Regularly With Current and Past Customers
Do you know why most business owners completely miss out on referrals? They don't ask for them. Part of your business referral strategies should be actually to ask for the referrals. If you don't ask, they will not just do it.
5: Create a Thankfulness Program
Do you take the time to say Thanks to your customers, prospects, and especially those who refer you? A great Starbucks card, coffee mug, thank you card, text, or phone call. I have a couple of great business referral strategies. Since most people email these days, I choose to send cards and gifts. I have an automated system that handles it for me once I put the contact in. Click here to see what I am using.
You can start by making a list of your current customers that you feel could be a great referral partner for you. The insurance agent we spoke of earlier might want to create relationships with commercial bankers or marketing agencies for that insurance agent. It would help if you also looked for other non-competing companies working with your ideal referral. They are all working with the same clients.