Building a Referral Network
How to Build an AMAZING Referral Network!
Generating new sales leads is an expensive activity for any size business. The cost of brand marketing and running lead generation campaigns takes time, and it also comes with a fair bit of risk.
FACT! Business Referrals ARE the MOST effective and fastest way to generate new business.
• Referrals come from reputable sources who know your business
• Referrals are of course personal and will fast-track responses or acknowledgements
• Referrals will remove any trust or brand recognition barriers
• Referrals also act as a “thank you” mechanism between parties.
Building AMAZING Referral Networks
1. Before you start: Ensure that you have the right tools in place and each is updated with the correct information e.g. LinkedIn and social media profiles, Business cards, Email signatures.
2. Build and practise your elevator pitch: Use this format to create your 30-second pitch.
My name is:
3. Create a personal story: Explain to people why you are so passionate about what you do and why you’re doing it. People are faster to connect with you when they have a personal connection.
4. Deliver on a promise:
• I will be in touch
• I will give you a call to talk through that idea
• I will refer you to XXX
• Let’s have a coffee next week and discuss this opportunity.
• Send a thank you (email, greeting card, handwritten note etc.)
• Connect via social media with a personal note attached
• Follow-up with a letter or information pack.
6. Grow and Nurture your network: (don’t forget about them)
• Explain how you will continue to work together to promote referrals
• Keep up the communications (updates, newsletters, related articles and links etc.)
• Conduct regular meet-ups sessions to keep each other’s business in front of mind
• Invite them into your networking groups on LinkedIn or Facebook.
7. Celebrate the success with your referral partners:
Try these techniques;
“Please let me know who referred you so I can personally thank them.”
“I’m glad we created this connection. This opportunity would not have come about if it wasn’t for XXX. I am sure you also feel more comfortable with providing more referrals moving forward.”
Things to Remember
• Learn to ask for referrals – it highlights strength and confidence in your offer.
• Make sure your referral partners recognise the value that you.
Having one-on-one meets will help this.
• Treat your referrals with MAXIMUM importance. Let the referrer know their progress.
Additional Information and tools that help
Need advice on how to BOOST your sales results?
Have a look at the tools available on our Sales Acceleration Self-Help Dashboard.
Contact us at [email protected] or call us on +61 3 9863-7444