3 Referral Marketing Strategies For Your Business
Effective Referral Marketing Strategies can elevate your business and ultimately, your bank account. Receiving referrals may mean the difference between staying in business and closing up shop.
Let's take a look at 3 Effective Referral Marketing Strategies for your business..
Strategy #1: Help First
Nobody likes to be sold to. When you're networking with potential referral partners, make sure you try and help before you take. Look at your own network and see how your network can help others.
When you're approaching potential networking partners, try and be helpful first. Don't immediately ask for referrals. Try and help this person and get on their good side. They'll be more likely to go out of their way to help you when the time arises.
Strategy #2: Look for Referral Sources
A common mistake of people looking for referrals is to go after the end user or the buyer of the service or product being offered.
Instead, we recommend identifying professionals who can generate multiple referrals for your business over the course of a year.
This may seem counterintuitive at first but let's think about it..
Would you rather chase after a bunch of potential customers or have someone refer you multiple throughout the year?
To do this, first make a list of business professionals who cater to your ideal market / clientele. Identify by industries who would make great referral partners for your business.
For example, if you're a Realtor, we recommend networking with Mortgage Brokers, Title Company Employees, Contractors, Teachers, Principals, and Healthcare Professionals.
Once you've identified potential referral partners, try and and find a way to make a warm introduction. Use a website like LinkedIn and determine who in your network, knows the person or persons you are looking to connect with.
Once you've identified, send your contact an email or better yet, give them a call and ask for a connection. To reciprocate, advise your contact of your strategy and ask them to look at your network and identify people they want to meet and network with!
Strategy #3: Follow Up is Everything
Life happens, we get busy. It's important however that you constantly engage with your referral partners network. Of the advice offered here, this is the most important. You have to follow up and you have to stay connected and relevant. Ever hear the phrase, "Out of site, out of mind"?
It's 100% true. You have to stay connected. We recommend scheduling monthly meetups with your referral partners. You can meet for coffee or tea, grab lunch, go for walks, or other activities.
We hope you enjoyed our Referral Marketing Strategies. They are extremely effective in business today. People like to do business with people they like and trust. Lead with intention, focus on giving, and stay connected.
After all, "Your network is your net worth."
JDRP, LLC. is a Digital Media Agency based in Los Angeles, CA. We help clients worldwide with their digital media and marketing needs. Check our our areas of expertise or contact us and learn more about how JDRP, LLC. can help your business stand out from your competition and make more money.