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PART
5
Need
more referalls? Partner up!
Did
you know that prospective clients who are referred to you are much more
likely to become your customers than those
who find you in any other way? The endorsement of a referral carries
so much weight that referred prospects are less
likely to shop for the lowest price, ask fewer questions about your
expertise, and typically come to a decision much
more quickly.
While
some of the best referrals come from past clients, there are many other
possible referral sources for any
business. You can build your referral base exponentially by seeking
out referral partners.
A
referral partner can be any person, group, or institution that is willing
to refer potential clients to you. Here are
some examples of who might be a good partner:
1.
Other prospects - People you have connected with who
aren't ready to buy from you now will still refer you to
others, if you remember to keep in touch with them.
2.
Colleagues - Others in your field can be excellent
referral sources. If you offer non-competitive services, you
may even approach prospective clients together.
3.
Competitors - Don't rule out competitors as referral
partners. You may have an area of specialty that they don't.
They may also have times when they can't handle all the
business they get, or can't take a particular client due to
a conflict of interest.
4.
Others who serve your market - Anyone who is in regular
contact with your target market is a potential referral
partner, regardless of his or her field. A computer network
installer could easily collect referrals from the owner of a
moving company, a commercial property manager, or a security
systems salesperson -- all people who might know about an
upcoming office relocation.
5.
Salespeople - Regardless of what they sell, professional
salespeople are used to the process of giving and receiving
referrals. If you make friends with someone who sells for a
living, they will naturally be on the lookout for possible
leads for you. Start with the salespeople who sell to YOU.
6.
Centers of influence - These are the people who everyone
seems to know. You see them at networking events, read their
name in the trade press, and hear their name mentioned
everywhere. People like this get asked for referrals all the
time, so you want your name to be in their address book.
7.
Organizations - When a prestigious non-profit or
educational institution refers you, it is an implied
endorsement, and makes you very attractive to prospective
customers. Building relationships with organizations like
this typically requires volunteering your professional
services or teaching.
To
begin identifying potential referral partners, develop a list of categories
representing the type of people or groups
that might be good candidates. For example, an executive recruiter specializing
in start-ups and rapidly growing
small companies might choose the categories of attorneys specializing
in stock offerings, investment bankers, and
venture capitalists.
Then
look through your existing contacts to see who you already know that
fits. Call those people up and say, "I
think we may be able to help each other get more clients. Can we get
together and talk about it?" After you have
contacted the people you already know, you can add to your circle of
referral partners by additional networking within
your chosen categories.
The
best partnerships are reciprocal. If the two of you share the same target
market, the possibility of two-way
referrals is high. But even if you can't imagine how you could refer
business to a potential partner, don't let that
stop you. Savvy business people are always looking for qualified professionals
to refer business to, because it
helps them take good care of their own clients.
When
you meet with a potential partner, find out as much about his or her
business as you share about your own.
Exchange marketing literature and several business cards.
Ask who would be a good referral for your partner, and describe what
type of client you are looking for. End your
conversation by asking, "Is there anything else you need to
feel confident in referring people to me?"
Be
sure to thank your partners for every referral, whether it turns into
business for you or not. Prompt thanks will
generate more referrals. Keep in touch with your partners over time,
just as you do with prospective and former
clients. And remember to be on the lookout for referrals you can give
to your partners. That's the best way possible to
stay in touch with them.
Yours
in partnership,
C.J. Hayden, MCC
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Copyright
2002, C.J. Hayden. All rights reserved. Articles
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