The power of referral marketing cannot be understated. Not only does it make it easier to scale, but it leads to strong relationships that revolve around long-term business transactions. The connection you form with your partners should be your ultimate focus. After all, this connection is what is going to set you apart from the competition. By encouraging referral partners to form a long-term relationship with your company, you’ll enjoy a consistent influx of referrals; and how can that be a bad thing?
If you want to make real-life connections with your partners, you should provide worth to them if they are even going to consider reciprocity. What you shouldn’t be doing is tricking people with fancy verbiage, then pitching them for referrals while failing to add value for them. That’s a good way to alienate people, and seasoned entrepreneurs have had plenty of exposure to it. There are only so many times you can prove to be a nuisance to somebody in your industry before word gets out about your swindling antics.
Offer incentives. Tell potential partners you will refer clients to them in exchange for their referrals. Better yet, if they’re a tough sell, enter them in a raffle for a new fishing boat, then watch them chomp at the bit to send clients your way. Don’t look at this hypothetical boat as a loss, either. Let’s say a client refers five customers to you in order to be entered into a drawing for the prize. The boat costs $5,000, but the potential of these referrals alone could prove to be worth many thousands more. It is a simple give-and-take that provides incentive for partners. That’s how smart business is done today.
by: Charles Jackson,