Referral Marketing

Referral marketing is infinitely more powerful than a list of free sales leads, in fact gaining quality referrals is one of the key aims of business networking. Did you realize that 70% of new business is gained through referrals from other people? But first it is important to understand what a referral really is, what makes a quality referral and also how we can gain referrals as part of an overall network marketing strategy.

What is a referral?

A referral is the opportunity to do business with someone who potentially needs your products or services and is expecting you to contact them.

The person who has referred you (the referee) should know what services or products you provide and should trust you enough to recommend you to others.

If someone has a need for your product or service and you have been recommended to them, they will be receptive to you when you contact them. If on first contact you appear to live up to your reputation then you almost certainly will get the business, often with no questions even asked about the cost of what you offer.

How much easier it is to do business this way than taking a list of free sales leads and cold calling when so often you are relying on the person ‘having a good day’ and being receptive to what you have to offer?

The difference between sales leads and a referrals

A sales lead is simply a name given to you of someone who may be useful to you or who may require your products or services. It is not qualified like a referral as this person doesn’t necessarily need what you can offer at this point in time and may not have been informed of you and what you can offer.

Referral marketing strategy

OK you may be lucky and without any effort you may just receive business through word of mouth, but for most businesses you have to have a planned out marketing strategy in place that will ensure that you max out on the business you will gain through referrals.

Giving quality referrals

To benefit fully from relationship marketing you will need to set a good example and pass good referrals to others.

Recommended Reading:

Get More Referrals Now!: The Four Cornerstones That Turn Business Relationships Into Gold (Facts on File Science Library) by Bill Cates (Paperback - 4 Jul 2004)

See Also:-

How to Generate Referrals
My Single Best Referral Winning Tip
Developing Referrer Relationships
When To Ask For A Referral
How To Give Quality Referrals
Getting To Know, Like And Trust People
Referral Marketing Strategy
Telephone Cold Calling
How To Generate Referrals

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